Real Estate Investing

There have been some debates as to whether the U.S. housing market is truly as bad as proclaimed, or whether it is largely perpetuated by the media. From reading local news reports, it does appear that the national picture of doom and gloom may be a tad overblown. Here are a few stories from the local fronts:

1. Glenwood Springs, Colorado

2. Charlotte, NC

3. Jefferson County/Mt. Vernon, Illinois

4. Albany, NY

5. Boston, Mass.

6. Clarksville, Tenn.

7. Syracuse, NY

8. Seattle, Wash.

9. Austin, Texas

10. Bismarck, ND

11. Salt Lake City, Utah

12. San Juan County, NM

And this little gem, Real Estate Not Deflating in Entire U.S. See? It’s not all doom and gloom! But if you live in one of the areas of the U.S. that are suffering (and they’re certainly out there), stay tuned to learn some innovative selling techniques.

You may know all too well the current pains of the housing market, or maybe you’ve wondered what all the fuss is about. It may not be affecting your world in an obvious, tangible way. After all, Betty and Bob, John and Marge and Phil and Liz down the street just sold their houses nearly instantly without any problem at all! True, many markets are reporting a sluggish upswing, surely destined to gain momentum going into the springtime peak shopping season. You may be fortunate enough to live in one of those less affected markets.

However, many people in the United States have come to the sad realization that they couldn’t pay somebody to take their house. Why is it that some can sell so freely and easily, while others sit and wait endlessly? Here are five steps to (hopefully) make home sellers a little more confident in their quest.

1. Eye the competition: What are other sellers doing? How are they marketing? How are they showing? How are they pricing? Tour their homes as if you were a prospective buyer, like a spy crossing enemy lines.

2. Pick a mid-range price: Don’t price too high, but don’t underprice either. Compare the prices of similar homes in the area (same number of bedrooms, bathrooms, similar square footage and acreage, etc.) and pick a price somewhere in the middle. A home appraiser can help in this process as well. If you underprice the appraisal amount, state that in the listing. Then you will know and the buyer will know that your home is worth every penny you are asking. However, be a little flexible on price if the buyer tries to talk you down (which they inevitably will, which is why you don’t price it rock bottom to begin with).

3. Home Makeover This doesn’t have to be extreme. It should, however, result in your home appearing neat and clutter-free. Be a weekend warrior and tackle those paint jobs or landscaping visions you’ve been putting off. Your little projects could earn you thousands of dollars. Good lighting is essential, both outside and in. Get an honest opinion from a realtor. This is an expert who knows what sellers are looking for and will tell you where your home needs a little extra TLC.

4. Great Photos Consider getting a professional or a friend who is a skilled amateur photographer to get good, solid, well-lit photos of your home. Buyers nowadays are shopping on the Internet more and more. They want to see plenty of pictures; without them, those buyers may not even step through your door. Don’t photograph the front door, or the corner of the dining room, or the bathroom vanity. Buyers want to see pictures of entire rooms, and virtual tours are even better, if within your financial means.

5. PMA Finally, it’s all about the positive mental attitude. If you truly believe and expect your home will sell, it will. Project confidence in your listing information and in any conversations with prospective buyers. Think and talk optimistically to friends and family about your home-selling experience. Tune out negative comments from others and from the media about the housing market. Do not despair and do not give up.

Foreclosures in your neighborhood can hurt you in more ways than one. Of course, the property is typically unkempt and neglected for a time. It also directly affects your ability to sell your house, should you desire to do so. This is because of the obvious eyesore factor and also the fact that people get leery when they see too many houses on the same street for sale simultaneously.

But hopefully, you won’t have an experience like the poor residents of Staten Island, New York. In Staten Island, where the rat population could reportedly be as high as 5 million, the neglected foreclosure properties have become a festering ground for the rodents, much to the chagrin of neighbors.

This, according to the Staten Island Advance:

“It’s not fair,” said Debra Hanwacker, a Travis resident whose backyard abuts a property on Beresford Avenue that has been vacant and heading toward foreclosure for nearly a year, leading the yard to become overgrown. Trash on the site has attracted rats, who have burrowed into Ms. Hanwacker’s yard in search for food. “We’re regular people who clean our yard and take care of our stuff. My kids can’t go outside. I feel helpless.”

Of course, should you have a rodent infestation of a similar kind, the Advance kindly provides some tips for keeping them at bay. These include removing clutter, trash, fixing leaky faucets and other water sources, sealing wall cracks and small holes and installing screens in front of interior vents.