Expert Tips To Help You Win Today's Real Estate Game

Feeling low about the housing slowdown? It's no wonder, what with all the "gloom and doom" reports in the media. There is hope for the housing market; it's what experts have been saying all along and it's worth repeating: Real estate is local. Not all markets are suffering. In fact, according to a recent report in Money magazine, more than half of the major housing markets in the U.S. saw prices stay the same or go up.

The good news in all of this? It depends on your situation. As a homeowner, you may not have anything to worry about (particularly if you're planning to stay in your home awhile). If you're a buyer, you've no doubt discovered opportunities— and deals— abound. Thinking of selling your home? You can do it— and come out a winner— with our expert tips for making the most of today's market.

Price It Right

Your home has to hit the market running. If your asking price is too high, you'll turn buyers away— and they won't look back. (Remember: They've got lots of other homes to choose from.) Your home has to look like the best deal on the block. We'll research the actual "sold for"

prices on comparable homes in the area to determine how to price your property. (See "How Are Comparables Determined" story on next page.)

Clean Up Your Act

Pretend that your fussy Aunt Fay is coming over for a visit— and bringing her white gloves. Every nook and cranny in your home must sparkle like never before. The American Society of Appraisers (ASA) suggests clearing your home of clutter (fridge magnets, piles of bills, etc.) and personal knick-knacks (family photos, souvenirs, etc.) even if you have to put it all in storage until your home sells. Sparse and simple will make your rooms look bigger and allows buyers to picture themselves living in the home.

The ASA says the best thing you can do to update the look of your home is to give the outside and the inside a fresh coat of paint and add new carpet. Two neutral colors (wall and trim) are best. Also, if you're going to spend any money on landscaping, take care of the front yard first. It's more important to buyers that a home looks good from the street.

Offer Perks

You've done all you can to set your home apart from the others on the block— or have you? Consider giving your buyer a little financial nudge in your direction by paying points, offering to help with the down payment (especially appealing to a first-time home buyer), contributing to the closing costs, etc. Purchasing a home warranty or offering to pay homeowner association fees (if applicable) are relatively inexpensive ways to entice buyers.

Have Your Home Pre-lnspected

While home inspections traditionally have been requested and paid for by the buyer after an offer was made and accepted on the home, many sellers are now having their homes inspected before any buyers walk through the door. The idea is simple: With a pre-inspection, sellers can find and fix any potential problems that might put the sale of their home at risk.

Beyond price (see 'Price Haircut' story below), you might also consider having an energy audit performed, particularly if you've made energy-efficient upgrades to your home. Your home may be able to boast money-saving features that will translate into real savings for your home's next owners— a huge selling point!

Pull Out All The Stops

This is no time to sit back and put your feet up. You'll need to work closely with your agent to ensure you're doing everything you can to help sell your home. Consider all offers your agent presents to you and respond quickly to them. Pass along any feedback you receive from potential buyers (important intelligence to have on hand!).

Finally, tell friends, neighbors and co-workers you're selling your home. Several of these people may already know who wants to buy a home in your area and, upon learning your home is for sale, will refer potential buyers to us. We will, of course, market your home through appropriate signage, the local multiple listing; service; networking with the local community, advertising in real estate media and online, and much more. We'll pull out all the stops to sell your home!