Ten Ways to Sell 2010

But if you’re not in one of those five states, help may still be on the way. Five other hard-hit states, North Carolina, Ohio, Oregon, Rhode Island and South Carolina, have plans that are pending and if approved, those states could get a total of $600 million.

Treasury officials have said that they hoped to have decisions on those states by August.

Banks Bringing On New Staff
Here’s something that’s going to be of interest not only to home owners and home buyers, but job hunters too.

According to CNN money.com some of the nation’s largest banks are bringing on new staff to augment their lending operations.

JP Morgan Chase, the second biggest bank by assets in the U.S., is currently in the process of hiring some 1,200 new mortgage officers.

And they’re not alone. Citizens Bank, which is based in Providence, Rhode Island, saw its lending increase 167 percent in 2009 over the previous year. This year, the bank is adding over 100 loan originators and hopes to increase the number of new employees in their lending office to 400 by 2013.

So is this premature planning? Some economists think perhaps so. Although the Mortgage Bankers Association does predict a growth in the home loan market over the next couple of years, they’re also expecting less refinancing to stunt some of that growth.

But could we be seeing a quicker turnaround in the economy on the horizon or do the banks just know something we don’t?

Looking on a national level we’re going to dip into some of those regional sales by price, and I can tell you we’re still seeing some pretty high buying across the board, particularly at the higher end of the scale.

Northeast
In the Northeast, the biggest home sales by price class this May is for homes in the million plus range. In May 2010 over May 2009, sales in that price bracket were up over 56%. In fact there’s been significant rises across the board with double digits jumps everywhere except the $250,000 to $500,000 bracket which came in with a negligible 2% rise and then at the bottom end of the market, up to $100,000, which saw just an 8% rise. But whatever way you cut it, sales are up from a year ago across the board.

Midwest
In the Midwest, previously there had been great gains sweeping the planes in the past year, and we’re still seeing strong gains this year. The best sales of May 2010 have been in the $100,000 to $250,000, the $250,000 to $500,000 AND the $750,000 to 1 million brackets, all up about 23% on last year. And again, it’s been double digit rises in almost all price brackets in the Midwest. The only place where there was any drop off was in the $500,000 to $750,000 mark, which was down 11%.

South
In the South during the previous summer, the hot money had been on properties priced at the lower end of the market but now during this May we’re been seeing a big increase in sales at the top end. Right now, the big sellers in the South are actually in the $750,000 to 1 million range. People are snapping up those big million dollar plus southern mansions, sales of which are up nearly 30% from May of last year.

West
Out West the market is still plenty busy in May 2010 and in certain areas, crazy busy when compared to May 2009.

Although the lower end of the market, priced up to $100,000, has seen quite a decline as more of the inventory in that bracket is cleared out. It’s seen the biggest drop in the country, going down 28%, but everything else is up, up, up.

Remember earlier I said there has been some busy activity? Well, get this, the $750,000 to 1 million bracket is up over 78% from last year! But wait, it gets crazier. All those million and more mansions that were languishing last year? Sales in that bracket from May 2009 to May 2010 are up, wait for it, 117%!

In fact, throughout the US, the 1 million and over price range has seen the biggest gains, rising over 77% from May last year.

So even though it’s hot outside, May’s sales by price figures have proved to be hotter, particularly as we said at the top end of the market. It should be interesting to see how the extended tax credit closing deadline affects the market in the coming months as we see the buyers rush slow down and the summer market speed up.

With so many of us busy trying to cram too much stuff into our weekends already, a lot of people are finding it easier to drop by to an early morning or evening open house than take up an entire Sunday doing a grand tour of potential properties. By the time they reach yours, they might be too pooped to look!

And we all know the old trick of leaving the smell of baked cookies lingering in your home to entice buyers. Well, why not take those cookies out of the oven and let people dig in?

Particularly if you’re holding a midweek open house in the early morning or later at dinner time, homebuyers are going to be extra pleased when they can grab a bagel or even a sandwich on the way in, then they won’t be thinking about those hunger pangs while they look around.

It doesn’t have to stop there either.

If you want to get really creative, give potential buyers some incentives for coming and think about the time of year that you’re selling.

In the heat of summer, perhaps you can wrangle your own or some neighborhood kids to set up a free car wash attached your open house. At the start of football season, why not do an open house tailgate and cook up a few hot dogs for passing prospective buyers. In the colder months, free hot apple cider or eggnog will leave a lasting impression on your passing visitors.

A lot of people these days are also looking at not just the house but the bigger picture, if you will. What more than just a house will living here offer, what kind of lifestyle? For example, if you’re trying to sell a waterfront property, make sure people realize the full benefit of it. Set up a few fishing poles that people can try their hand up, some towels for drying feet if they want to dip a toe in the water, or even a kayak.

If you’ve got a great garden, make use of it. Have out chairs and cold drinks so that people can sit and enjoy, drinking in not only the iced tea but the splendor of your yard, then if you’ve got plenty growing, offer some cuttings or herbs to take away with them.

Of course, you’ve got to let people know about your open house too. It takes a bit more than a placard stuck in the grass by the side of the road these days so try sending out some postcards, posting plenty of signs round your neighborhood and placing classified ads.

Smart sellers know that the Internet is where the buyers are – 9 out of 10 recent buyers used the Internet in their home search. REALTORS® can leverage the power of Web sites like REALTOR.com and multiple listing services to attract the largest pool of interested buyers. In addition, be sure to make use of all the technological marvels at your disposal by posting your open house information on the free online marketing forums like LinkedIn events, Facebook events, Twitter and Craigslist.

The main and first thing to do is discuss open houses thoroughly with your REALTOR®. See what their philosophy is on open houses, how many they plan to hold, how to get the word out and see what ideas for creative open houses they have and, of course, what they recommend specifically for your home and your neighborhood.

And most importantly, make yourself scarce during these open houses. You want buyers to feel comfortable and to be able to see themselves living in the home, and they can’t do that when the home’s current occupants are around.

By keeping an open mind about open houses, you‘ve got a better chance of selling your place and opening the champagne all the sooner.

3. Curb Appeal
We all know how important first impressions are and many buyers make their decisions on a home before they’ve even stepped through the front door, so if your curb appeal makes a great first impression, those potential homebuyers will want to know what’s inside. And it doesn’t take much to make impressive improvements. Adding some flower boxes, repairing the mailbox or painting the front door can give you that all important edge.

4. Painting
One of the quickest, easiest and cheapest things you can do to take years off the look of your house is to give it a fresh coat of paint. Covering up wear and tear and trading in vibrant colors for more neutral tones will give buyers a much easier time picturing themselves in their new home rather than your old home.

5. Make It Easy To Show
When someone makes an appointment to see your home they have already said yes to several important decisions. They like your neighborhood. The lot and exterior appeals to them. Your price is within their range. So you’ve got to make the inside as appealing as the outside by keeping it clean, being flexible in your showings and leaving them alone so they can start to feel at home.

6. Going Green
More and more buyers are becoming ecologically savvy these days and it’s not just a stronger concern for the environment, there’s also those rising energy costs. Making your home more energy efficient is going to save buyers on their bills in the long run, as well as things like low VOC paint making them feel more comfortable in their new environment.

7. Give The Buyers What They Want
What do buyers want these days? Well, to do less with more. So show that your place can adapt to their needs and that their new home can expand as they expand. Also, remember this mantra, a good home in good shape for a good price, and you won’t go wrong.

8. Creative Open Houses
The open house is one of your strongest tools as a seller, so you’ve got to make sure that your open house stands out from the rest. Invite all your neighbors to your open house. You never know, they may have friends who want to buy in your neighborhood, and make sure there are things to entice people to stop and look, be it a lemonade stand on a hot day or a free car wash. Start thinking outside the box to get potential buyers and their agents to open their eyes to your open house.

9. Property Auction
You may want to consider putting your home on the block at a property auction. If this is the right decision for you and your property type, you might walk away with more than you thought, but most of all, an auction is a great way of shifting a property quickly. Now, it’s not for everyone or even every home, so make sure you speak to a real estate professional who specializes in auctions first to see if it’s right for you.

10. Use a REALTOR®
Some people think the word “REALTOR®” is synonymous with real estate agent, but not all real estate licensees are REALTORS®. Only agents who are members of THE NATIONAL ASSOCIATION OF REALTORS® can properly be called REALTORS®.

There’s a reason that people think “REALTOR®” when they think real estate. That’s because REALTORS® have that high degree of market knowledge and of the process of buying and selling of real estate that makes it so much easier and safer.

REALTORS® also subscribe to THE NATIONAL ASSOCIATION OF REALTORS® strict Code of Ethics as a condition of membership. Buyers and sellers who work with a REALTOR® are assured of the protections the Code demands.

To sell a house is to be dealing with big money, possibly the biggest money deals you make in your life. If you have a big tax question, you go to a CPA or a big legal question, a lawyer. So when you’re selling your home, look to a Realtor to be sure that when you go through the exciting, frightening, emotional rollercoaster of selling a home, you’ll come out a winner