This recent surge of bidding wars is a result of supply shortages, unlike the wars of the past “go-go years.”

According to the Wall Street Journal’s recent article, the competitive bidding hasn’t been producing huge price increases or leaving sells with large profits. The wars, causes by small inventory, provide the evidence that housing demand is looking up after years of decline.

“An index that measures the number of contracts signed to purchase previously owned homes rose in March to its highest level in nearly two years, up 12.8% from a year ago and 4.1% from February, the National Association of Realtors reported on Thursday.

‘We very much believe we’ve hit bottom,’ said Ivy Zelman, chief executive of a research firm, who was among the first to warn of a downturn seven years ago. Earlier this week, she raised her home-price forecast for the year, calling for a 1% annual gain, up from a 1% decline.” Read Full Article. 

Selling a home can seem like a tedious task and it’s common for homeowners to feel discouraged if their home doesn’t sell right away. But the truth is, image is everything and making small changes to spruce up a property can make a home much more appealing to the general public.

After a home has been inspected, scrubbed down and ready to go on the market, consider a few helpful tips that may make the home more attractive.

Clean up the outside

First impressions can be the difference between a successful open house and limited buyer attention. Clean up and landscape the outside. Plant a colorful flower bed. Replace old house numbers with new, shiny placards. Removing clutter and presenting a neat, clean outside can make the home seem more inviting to potential buyers, according to MainStreet.com. Homeowners who have the budget may also go above and beyond by installing a new door or painting the current one to add a splash of color and appeal to the home.

Replace old appliances and freshen features

When buyers walk into a home, they may immediately try to see themselves living in that space. When a house has old cabinets, counters and tiles, it can make the space seem more outdated than it really is. Although purchasing new fixtures and tiles can be an investment, it may be one worth making in order to attract more potential buyers. In addition, removing old appliances or storing them below in cabinets can also make rooms, such as kitchens and dining areas, appear more fresh-faced and modern.

A coat of paint can also go a long way in livening up a home or a particular room, and the right color can make certain smaller rooms appear more spacious and inviting. Most real estate agents agree that neutral and light or bright colors can make a room stand out while still giving it a fresh and clean appearance.

De-clutter the house

Over the years, homeowners accumulate new furniture, pictures, keepsakes and family heirlooms. And while these treasures make existing homeowners feel comfortable, they can make a home appear smaller and cluttered. For this reason, sellers should consider boxing up items they do not currently use and adding more space to their living area. A few accent pieces can be sufficient in making the place feel homey without infringing on the living space.

• Stage rooms with one purpose.  Rooms that have many uses can confuse or even deter homebuyers, so staging rooms with one purpose is vital.  Determine who your most likely target market will be, whether it’s young professionals with no kids, families, or even empty nesters.  Then present your areas to fit their needs.  If you’ve been using a room as a guest room/kids playroom/home office, pick the one use that best suits your buyers.
• Tackle the easy “do-it-yourself” projects. Spruce up your home by updating kitchen and bathroom fixtures and updating cabinet hardware.  Add a fresh coat of paint in a neutral palate that won’t distract from your home’s features. 
  A fresh coat of neutral paint goes a long way

• Focus on the living areas.  Potential buyers should envision themselves entertaining friends and family in the living areas of the home.  Make sure those areas feel as spacious as possible by removing any unnecessary furniture to allow for easy traffic flow.
• Make sure the master bedroom appeals to both sexes.  Remember that the master bedroom is a room that a couple will be sharing, so the décor should appeal to both sexes.  It should feel like a calm and peaceful refuge, not a frilly boudoir.  Remove any feature that seems too gender-specific and paint the walls a neutral colour.
• De-clutter & depersonalize. Buyers want to picture their family living in a home, not the previous owners.  You’re going to be moving anyway, so start now by packing away family photos, personal mementos knickknacks. Store away valuables under lock and key. Some property owners find they need to store some of their belongings off premises to create an open feel.
• Furnish the home, but don’t overdo it.  While an empty house may look spacious, it’s often hard for buyers to visualize their belongings in a home if they’re just looking at bare walls and floors. Leave the basic components that allow the viewer to define each room.
• Don’t forget the outside spaces.  First impressions can play a key role in a consumer’s decision-making process, so don’t neglect your home’s curb appeal.  Make sure the home’s exterior is inviting by trimming the bushes, mowing the lawn and painting faded window trim.  Buyers will appreciate the seller’s efforts with the yard work, and will tend to assume that the same attention to detail has been devoted throughout the property.

With a substantial amount of homes for sale on the market, homeowners looking to put their home up for sale have a number of other home sellers to compete with. However, homeowners can gain a leg up on their competition with some low-cost home repair and redecorating projects that can significantly improve the aesthetic and value of their homes.

Look around the home

According to Inman News, some home sellers often find that by looking around their residence, they can discover areas they can easily make more appealing to prospective home buyers.

For instance, the real estate source reports one pair of home sellers in California stripped the carpet from areas of their home, which revealed nice hardwood floors underneath. These floors may be more attractive to home buyers, which can improve the home sellers’ chances to sell their residence.

Additionally, Inman News reports dated or harsh paint colors on the walls can be unappealing to some home buyers. Applying muted color paint, such as off-white, to replace these old coats could lead to more offers on one’s home for sale.

Declutter the residence

Another way in which home sellers can improve their odds of selling their property is to declutter their home. By doing so, Inman News reports they can make the home neater and cleaner, which is something many home buyers prefer to see when checking out the residence. Even personal possessions should be removed while the home is up for sale, according to the source.

Should home sellers find that they have numerous belongings they want to take out of sight during the period in which their home is on the market, Inman News reports they may want to donate or recycle items they don’t use anymore.

Real estate agents could be able to suggest places to donate unused clutter, which could yield home sellers a tax deduction, according to Inman News.

MSN Real Estate reports homeowners can also keep their possessions in their basement or attic – somewhere they can easily access them but where they aren’t as visible to potential home buyers.

Via ColdwellBanker.com…

Along with their ability to afford it, home buyers’ personal impressions of a home are likely to play a large part in determining whether they pursue negotiations for it. Home sellers should make every effort to give buyers a great first impression of their home.

Clearing the household

One common difficulty is that sellers often want to be there when buyers are walking through their home. This makes a certain amount of sense, but many experts agree it is better for the current homeowners to be absent. That can make it easier for prospective buyers to imagine themselves living there, and the alternative may lead to feelings of pressure, unease and awkwardness. Having the current homeowners present can cause an unpleasant atmosphere, coloring potential buyers’ opinions due to the perception they are being watched and preventing them from discussing the home honestly while there.

Another factor home sellers may forget about is pets. While fish or other animals inside an enclosed container are unlikely to pose difficulties, prospective buyers may not appreciate being greeted or followed by a dog or cat. Some may even be allergic or dislike the pet. While this has nothing to do with the home directly, it can still affect their memories of the walkthrough experience.

Presenting a home at its best

The little things can frequently have a significant impact on how a home is perceived, so homeowners looking to sell should make an effort to ensure that the home is clean and tidy. It should look like someone lives there, but taking out the trash, removing clutter, ensuring there are no dirty dishes and taking similar steps is advisable.

If there are pest concerns surrounding a home, they should be resolved before it is visited whenever possible. Prospective buyers who see or hear pests are likely to draw the worst conclusions and leave, even if the problem is only a brief blot on an otherwise solid record.

Specific rooms and areas of the home may come with their own concerns, as well. Bathrooms and kitchens commonly attract dirt, and should generally be a focus of cleaning efforts. Damp or wet basements may cause prospective buyers to fear mold, leaking that weakens the foundation, flooding and other problems.

Selling a home in winter can be challenging and some homeowners may find themselves in the position of having to sell during this time of the year. There are some ways to make the process easier, however. Ideally, the homeowners will know in advance they intend to sell and can start preparing the home before the cold sets in.

Fewer home sellers are active in winter, which generally means prospective buyers are looking at fewer choices. This might make it easier to stand out from the crowd and improve the competition for properties.

Winter home staging

According to USA Today, the season does provide a few unique opportunities to grab potential buyers’ attention. A well-shoveled driveway and walkway make a good first impression. Although they are not important in and of themselves, they tend to create an inviting atmosphere and serve as evidence that the homeowners have paid attention to the details of their home, including regular maintenance and upkeep.

To continue fostering that attitude, the source suggests home staging be used to emphasize the property’s comfort, size, warmth and brightness. Good lighting and clean windows make it easier to see and may help buyers envision themselves living in the home. Experts reportedly discourage showing a home after dark, and note it can be helpful to have photos of the home in the summer or spring on display.

Some experts advise keeping tasteful holiday decorations up, although too many could be overpowering. Instead, conservative lighting, wreaths and similar small touches can tap into the holiday feeling and focus buyers on the home’s comfort and potential during the season.

Intangible factors

One expert told Bankrate.com it can pay to play soft music when visitors are expected to look at the house, saying soothing classical music tends to encourage longer visits and more thorough examinations. Pleasant smells, particularly from baking, may also contribute to the sense of the house as a home, not simply a structure.

The seasonal effects will depend on the home’s location, and in sufficiently warm climates snow and ice may not be a problem. Alternatively, home sellers in areas that tend to have more extreme weather may find potential buyers are looking to enjoy skiing or other winter activities, or may be able to tout effective transportation and other advantages over similar homes.

Via ColdwellBanker.com 

Via RISMedia

Here are a couple simple rules to follow while getting your home ready to sell. Making sure to address these factors will help make sure your home is appealing to potential buyers.

1. Curb appeal is key to selling your home… If it looks rundown from the outside, then it probably is on the inside too. Curb appeal is all about first impressions. Buyers want to feel like they could live in a home from the moment they pull up in front of it. Basic improvements such as exterior painting, cutting the grass and planting some flowers improve the look of a home from the outside tremendously.

2. Deodorize… Every home has a unique odor, especially if pets are present. Be sure to professionally clean the carpet and the furniture and replace carpets if necessary. Keep pets clean and the home free from dander. Consider taking pets and pet cages if present in the home with you when you leave for showings.

3. Really want to sell your home? Repair and repaint… A little putty and paint can make all the difference. Repair damaged dry wall, gouges in wood surfaces and paint the walls. Bright colors such as those in children’s rooms should be repainted with a neutral color.

4. Put away your personal collections… Here, the old saying that one man’s treasure is another man’s junk rings true. De-clutter your home by packing up knick-knacks, heirlooms, personal collections, and even family photos. After all, they are special only to you and your goal is to make the home presentable to the widest number of people possible. Expensive collections should be packed away as well to keep them safe.

5. No guns, drugs or valuables… If you own a gun, be sure it’s unloaded and lock it away. Don’t leave it accessible to anyone viewing your home, especially anyone with children. The same is true for prescription drugs, fine jewelry, valuable art work, money and anything else you want to keep safe.

For more tips on selling your home quickly in today’s market, contact an agent at www.coldwellbankerobx.com.

Selling a home with the help of a professional helps simplify a potentially complicated, intimidating process. A Coldwell Banker Seaside Realty sales associate is Your Perfect Partner® when it comes to effectively marketing your home.

Please be sure to visit our sellers’ page, which helps you estimate the value of your home; find a Sales Associate and much more. Check out our buyer’s page for advice on the purchasing process.

RealtyTimes gives us 10 factors that affect how quickly your home sells…

“Unfortunately, there is no golden equation that equals the perfect sale. Yet, while there is no ‘sure thing’ in the housing market these days, there are certain factors that affect how quickly and for how much your home sells. ”

1. Price: It’s a common misconception that location is the leading factor of whether or not a home sells. It is, instead, price. Think about this scenario. You have a home located in a prestigious and sought-after neighborhood, yet the list price is tens of thousand of dollars over the comps for the area. No one will be interested. This same property priced just below the competition will fly off the market.

2. Location: Okay, location is still important. A home that sits next to a refinery, crime-ridden neighborhood, or busy street is less desirable than one that backs up to green space. If your home has a boastable location, then by all means boast about it in your marketing.

3. Liveability: This is fast becoming a hot button word in real estate. Buyers today are looking for neighborhoods that deliver amenities such as golf parks, restaurants, theaters. They want good schools, walkable neighborhoods, and plenty of things to keep them entertained.

4. Condition: There is a certain segment of the market that is made up of renovators, flippers, and investors. You won’t find as many people these days eager to buy your run-down property that is in a good location. They simply can’t sell the property fast enough before monthly mortgage payments begin eating up their profit. Homes that are well-maintained or in move-in ready condition appeal to a broader range of buyers. Even simple fixes, such as new paint, cleaned carpets, or power-washed decks, can have an effect.

5. Competitive Advantage: Don’t make the mistake of assuming that you’re in this race alone. Past area sales, as well as current listings and foreclosures, are your direct competition. You must take these into consideration when settling on a list price for your home. What amenities and upgrades do these homes have? Do the homes in your neighborhood all have updated baths, kitchens, or landscaped yards? In order to price in line with them you must be able to boast these same things.

6. Curb Appeal: Curb appeal is the first impression of the home world. You must keep the yard orderly and maintained when your home is on the market.

7. Staging: Once inside your home, a buyer must be wowed. Intoxicate their senses. They want to see up-to-date furnishings, smell a clean home, touch cabinets that are in good repair, hear peace and quiet, and of course “taste the good life.”

8. Kitchens: A kitchen sells a house. It is where families gather and connect. Minor kitchen remodels rank high among the list of top remodeling projects, with owners updating cabinets, counters, and floors. Nobody wants an outdated kitchen. What fixes are in your budget? If your kitchen is already spectacular, be sure you play this up in any marketing.

9. Agents: An accomplished, knowledgeable agent can be your biggest ally during the selling process. They know the latest market trends and have built a network of agents and contacts to market your home to. With an arsenal of marketing tools available to agents today, from video tours and webcasts to brochures, websites, and mls listings, they are part of your selling team.

10. Marketing: Marketing has gone global. With the power of the Internet, you can showcase your home to millions of potential buyers. Sit down with your agent and develop a solid marketing plan. This is why you are paying them a commission. Make them earn it!

The market is not what it once was. You must be realistic about what selling in today’s market means. You value your home, but it may not be “worth” as much today as it was yesterday, last month, or last year. Consider these top ten ways a home sells and help your home put it’s best face forward.

1.Price it realistically from the start… take advantage of that sweet spot by pricing the house competitively right out of the gate

2.Be prepared to lose some money… the truth is that your house is worth what buyers are willing to pay, and not a penny more.

3.Promote, promote, promote… One question to ask as you interview real-estate agents: How will you reach the home’s target market?

4.Throw in some extras… Offering some extra appliances that otherwise would have caused you headaches to move, could sweeten the pot for the buyer to agree to buy at full asking price.

5.Clear the clutter… Keeping your house clean is important in every sale. But first-timers are likely selling smaller houses, and clutter can mean the difference between cozy and cramped.

6.Appeal to Lazy Buyers… The last thing a new homeowner wants is a to-do-list. Get the home ready before it hits the market.

7. Put upgrade money where it counts… If you want to spend some money to make your house memorable, ask someone who knows what will improve the market value. Most professionals will tell you fresh carpet and new paint are the biggest ‘bang for your buck’.

For more tips on selling your home, contact one of our agents at Coldwell Banker Seaside Realty or visit us online at www.coldwellbankerobx.com.

If you’re in the market to sell your home, you probably feel you can’t catch a break. Nearly five years into the housing bust, when many experts thought the real estate market would at least have stabilized, sales and prices are still dropping in most of the country.

Fortunately, there is one glimmer of good news. Bargain hunters, too, know that home prices are down some 32% from their peak. In a recent CNNMoney survey, three-quarters said that it was a good time to buy a home. But translating that interest into an actual sale can require some extreme measures.

It’s not enough to show buyers your house is a deal: You have to convince them it’s a total steal. That means slashing your price, bringing in a pro to pretty it up, and creating a killer website for your home. Here’s how to do it right.

Slash Your Price, Bigtime

Sellers are still loath to accept the extent of the toll the bust took on their homes’ value, says Tara-Nicholle Nelson, consumer educator for the housing website Trulia.com.

Many also give in to the temptation to list the property above fair market value to see what happens. Big mistake. About a quarter of sellers in the past year initially listed too high and were forced to knock the price lower, according to Trulia.com. Even in cities that have held up well, such as Charlotte, 25% of sellers resort to at least one price cut, and often two.

6 cities slashing prices

Think you can always drop the price if your home doesn’t sell? Bigger mistake.

“The first 30 days on the market are the most important,” says Norwalk, Conn., realtor Elizabeth Kamar. That’s when your place attracts the most attention and gets the most showings. The result: You often end up with less than you would have if you priced it right to begin with, says Kamar. So get aggressive right out of the gate.

Undercut your competition. In normal times listings of similar properties in your area would give you a good sense of what your home might sell for. Today there’s a big gap between what sellers want and what buyers are willing to pay.

Instead, figure out what you can realistically expect to get by asking your realtor to show you what houses similar to yours have sold for in the past three to six months. If more than a couple of the comparable properties were foreclosures or short sales, look closely at the photos and descriptions of those former listings. Distressed homes should be included in your comps if they are in move-in condition, says Las Vegas realtor Paul Bell.

Once you have a handle on your likely sale price, list your home a bit beneath that, says Rockaway, N.J., agent Ellen Klein. You don’t have to undercut by much to attract attention, because that price will probably still be about 10% or 15% below what other homes are listed for. Even if you’re competing with lots of foreclosures and short sales, your price should generate enough interest to attract more than one bidder, pushing up the final price to where it should be.

When Dorchester, Mass., realtor Julie Simmons wanted to sell her own home in January, she listed it at $460,000, about $5,000 to $10,000 below what she thought she’d sell for.

“I knew I had to attract attention,” she says. Even in a harsh winter, she received four offers in less than two weeks — and sold for $465,000.

Take out the ax. No bites within 30 days? Make a big move.

“When a property sits, people start thinking it must be listed too high,” says Klein. To stimulate interest, make a giant cut — as much as 10% of the asking price, and even more in an area where prices are still falling. That should be enough to warrant a second look from buyers who passed the first time, and to bring in a new pool of potentials who are hunting in the lower price range.

Last year Montclair, N.J., empty nesters Peter and Lauren Meyer decided to downsize from their seven-bedroom home to an apartment in the same town. They put their home on the market for $1.1 million, more than their realtor suggested. Six months and four price cuts later they pulled it off the market at $889,000.

“At that point we wrestled with lowering the price further, but we were ready to move on,” says Peter. The couple relisted their home for $799,000 and it sold for $808,000.

Play hardball. It’s okay to reject low-ball offers if a buyer won’t budge. But if a buyer is willing to negotiate, push aside feelings of anger or insult and start counteroffering, says Mabel Guzman, president of the Chicago Association of Realtors.

Ideally you’ll be able to negotiate within $10,000 to $20,000 of an acceptable offer. Then, “using incentives as carrots and sticks can make it easier to reach an agreement,” says Guzman. For example, if your buyer refuses to dicker, you might offer to leave behind the appliances. Or maybe you’d rather take the reduced price but have the buyer agree that you take 60 days, not 30, to move out.

Hire a Stager

There are people who want to sell, and there are people who have to sell. Kathy and Rex Roberts are among the latter. Based in West Hartford, Conn., the couple, who have two children, have been living in different cities since early December, when Rex, an IT auditor, started a new job in Silver Spring, Md., after a layoff.

Before and after: Manhattan loft makeover

Listed that same month, their solidly built three-bedroom 1956 colonial has had no offers, despite two price cuts (it’s currently at $389,500). Between rent on Rex’s new place and their carrying costs on the house, they’re paying a budget-straining $4,000 a month. “We need to sell,” says Rex, “but we’re not willing to drop the price again.”

So in March they tried something new: professional home staging. Staging, increasingly popular with homeowners trying to sell mid-range houses, can extend from simply rearranging existing furniture to repainting, replacing fixtures, and bringing in new furnishings. The goal: to highlight the house’s best features while making it as easy as possible for buyers to imagine themselves living there. Veteran real estate brokers interviewed by MONEY say that proper staging can speed the sale and often increase the price too. The key is to get it done right.

Start with an open mind. Staging demands a psychological shift that many homeowners find challenging: thinking of your house not as your home but as a set. That means scrubbing away evidence that you actually live there. Your goal: the homey yet impersonal look of a Pottery Barn catalogue.

Find the right stager. The ASP (accredited staging professional) designation is a plus — it indicates the stager has gone through some basic training — but it isn’t essential. Get names from realtors or at realestatestagingassociation.com, then review the stager’s online portfolio of before-and-after photos. Next, call homeowner references and ask how fast their homes sold after staging and whether they think the work helped.

Establish a budget and ask the stager to work within it. Stagers typically charge $150 to $400 to walk through your home and give recommendations for each room. You can then execute the plan yourself or hire the stager to do it for an hourly fee, usually $100 or so, plus the cost of any new paint or furnishings.

If you make big changes, costs can add up — but “I can often make a huge difference using what homeowners already have,” says Mary D. Brooks, a stager and realtor from Breckenridge, Colo.

See whether your realtor will pay. If you’re on the hook for a full 6% commission, you have significant negotiating power. “I’m happy to pay for staging because I know it works,” says realtor Paul Aspelin of Victoria, Minn.

As for the Robertses, after getting advice from stager Kara Woods, owner of Stage to Move in Danbury, Conn., they painted their lavender dining room a soft gray and removed excess furniture, among other things; a professional stylist redid the living room (see above). “It’s incredible how much bigger and more modern it looks,” says Kathy.

Find the Right Hook

These days it’s going to take far more than a FOR SALE sign in the front yard and a spot on the multiple-listing service to get potential buyers in the door. That means getting the word out in a creative fashion — and finding a realtor who is willing to do the same.

“The more eyeballs that get on the listing, the better,” says Katie Curnutte of the real estate information website Zillow.com. To do that, you need a multipronged marketing plan of attack.

Create a great site. About 90% of buyers begin their search on the Internet, according to the National Association of Realtors. Make sure your home’s online presence has a dozen or two photos: Having 20 instead of five photos will almost double the number of hits you’ll get, according to Zillow.com.

Vulture investors flipping their way to real estate profits

Throw money at them. Incentives can perk buyers’ interest just as much as price cuts, says Matt Brown, director of business development at ForSaleByOwner.com. In fact, many buyers will agree to a higher price if their upfront costs are lowered, since they often run short on cash.

If you can afford it, offer to cover the buyer’s closing costs or pay the first year’s property taxes or condo or homeowner association dues. However, those freebies may be practically standard, particularly in areas rife with distressed properties.

In that case, says realtor Guzman, you might be able to bring buyers to the door by tossing in an unusual bonus, such as a $1,000 gift card (throw in one for the buyer’s agent as well); a belonging they mentioned loving, such as the pool table or plasma TV; or a $5,000 credit to use in the home as they wish. (You can even pay upfront points so that they can get a lower mortgage rate, if you can swing it.)

Be aware, though, that you must disclose any such gifts or payments when the offer is agreed on, and some lenders will not approve them. If so, you might have to find another incentive that the bank doesn’t object to.

Showcase super condition. Yes, some buyers are hunting for foreclosures in rough shape that they can nab for a song. Yet just as many shoppers don’t want — or don’t know how — to put in that sweat equity. So hire an inspector to identify every problem with the home, even seemingly minor issues such as dripping faucets, and fix them.

“If an outlet doesn’t work, why get the buyer wondering what else is broken?” asks Beth Foley, an associate broker in Holland, Mich. Tell your realtor to give anyone who tours your home a copy of the inspection report and your list of fixes.

Spread the word online. Having your home listed on a major website like Realtor.com isn’t enough. Ask your realtor if you’ll get an “enhanced” listing on the site, where your home gets top promotional billing. Many realtors will create a website just for your home. You also want to get your listing on alternative sites like Craigslist or even Facebook.

In 2009, when Karen Mauro put her small, historic two-bedroom Orange County, Calif., home on the market she thought it would be a tough sale. Realtor Lisa Blanc listed the property at $467,500 and spread the word not only through the MLS listing but also with an update on her Facebook page. A Facebook friend of Blanc’s passed the info to someone she knew was looking for that kind of house. Within a week, Mauro had an offer for $460,000.

Stay away — far away. In better times you may not feel obliged to drop everything to accommodate prospective buyers’ schedules. Today, if buyers can’t get in on their time, they’ll skip it, says Summer Greene, who manages realtors in the Fort Lauderdale area. So be prepared to show a perfectly clean home at a moment’s notice. And disappear (along with your dog, if possible) for all showings and open houses so that prospects can imagine themselves in your house — an impossible task when your family is vegging on the couch.