Selling Savvy » Denver Real Estate and Relocation

One Selling Strategy that really worked!

Oct 092010

Late last week I closed on a home of some good friends who were moving out of state, so when I took the listing in an upscale neighborhood I knew it had to sell quickly. These sellers were awesome, they did all the right things to get their home sold quickly: they painted, de cluttered and kept the house in top showing condition. But probably the most important step they took was to get an appraisal prior to putting their home on the market.

It’s certainly no secret that buyers no longer determine market value- lenders and appraisers do- so it made sense to have that input. When the appraisal came back around $25,000 less than what the sellers were expecting, they were not happy. When I told them they needed to price the home under the appraisal, they REALLY were not happy! I explained that in today’s market, buyers not only want, but expect to get a deal…pricing a property under the appraised value is a sure way to get that point across.

Long story short, the home went Under Contract in 11 days with a cash buyer. My sellers were thrilled and at closing said the peace of mind they had was literally priceless. It allowed them to concentrate on their new jobs and explore a new part of the country. Any doubts they may have had in the beginning were long gone as they said goodbye to their neighbors and the 30+ unsold homes in their area.

Sellers: Is your property ready for today’s Buyers?

Patsy's Pointers, Selling Savvy, Uncategorized 1 Response »

Sep 202010

This past weekend I was showing a property in one of Denver’s great neighborhoods – City Park West- with a wonderful young couple and their 9 month old son. These are pretty typical first time buyers, eager to have a place to call their own and certainly willing to do some work on a property advertised as “Amazing Opportunity-Original Woodwork & Charm throughout!” The curb appeal was ok, white picket fence and small garden area. Our first clue that all was not going well was when we tried to get the front door unlocked. Now this happens to be a pet peeve of mine: for $40-50 a locksmith can make sure one key opens all locks with ease. We struggled for several minutes and finally managed to open the door. What greeted us was unbelievable: the house was filthy and a total mess with left over food displayed for our enjoyment on the kitchen table, the smell of stale grease permeating the air. The walls were dirty, the light switch plates loaded with dirt and grime. There were piles of “stuff” everywhere we looked and when we went upstairs it wasn’t any better. The most shocking realization came when we realized someone was still living in the house along with their cat.

The original listing price of this house was $349,900; it is currently listed at $289,900. My buyers couldn’t begin to see the possibilities this house might have offered had it been in some kind of show-able condition. With the challenging economic times we are experiencing, I understand that some sellers are really under the gun to get their home sold quickly and may put pressure on their agent to get it on the market asap. As realtors, we need to educate our sellers so they don’t make these mistakes: it is a waste of our time and marketing dollars to present homes that aren’t ready for the market.

My partner recently had a house for sell in Congress Park whose owner had lived in it for close to 40 years. It had great woodwork and a nice yard but everything else was so dated and dark. He was very patient with the elderly owner working with her for almost 6 months to de clutter and move out. He brought in a professional cleaning service and convinced the owner to redo the hardwoods throughout for about $2300. During all this time his seller was urging him to just put it on the market; he explained that by waiting until the house was in presentable condition, it would sell faster and for more money…he was right! The home was under contract within 2 days of going on the market. The only improvement they did was to redo the floors; the place was still dated and dark with its 1940′s vintage wall paper, but it was vacant and clean and buyers could easily see the possibilities this home presented!