Author: Jeffery Anderson
I’m sure just about everyone is aware of the many difficulties the residential real estate market has been facing and may continue to encounter for the foreseeable future. According to the experts a combination of issues has contributed to the problem – over-building, foreclosures, sub-prime mortgages, and poor lending practices are all terms that have been included in the discussions.
If you have a home listed for sale or plan to put one on the market shortly, in all likelihood you’re experiencing the frustrations of trying to move a home in this depressing climate firsthand. The National Association of Realtors (NAR) reported that sales contracts for previously occupied homes fell sharply in April – down to their lowest level since last fall. Home values have continued to drop in many regions – a trend attributed in part to the number of foreclosures still in the pipeline. So how do you sell a home in a market like this without losing a bundle in the process?
Fortunately, all the news isn’t bad. The NAR also reported that existing home sales for the first quarter of this year were up 8.3 percent over the fourth quarter of last year and we’re now on an annual pace of about 5.14 million existing home sales for this year. That’s a lot of homes that are being purchased — perhaps all you need to do to contribute to that statistic is price your house competitively and make it stand out from the rest.
A realtor contributing to an article in Remodeling Magazine made the comment that in today’s real estate market “curb appeal is king.” When your home is competing with so many other homes for the few qualified buyers considering a purchase, catching buyers’ eyes from the moment they pull up can help swing a deal in your favor. It may be as simple as having a beautifully landscaped front yard or creating an enticing entryway that’s easily noticeable from the street. Small roof line changes to the front elevation can sometimes give a home a fresh appearance or adding a little faux brick or stone might be just the small touch your house needs.
The secret is having an educated new set of eyes look at the front of your home. You’ve been looking at your house with the same set of eyes every day for months and maybe even years, but a landscape architect, draftsperson, or architect might take one look at the front of your home and know exactly what can be done to set it apart from the others.
When I build homes, I always have another construction manager walk them just prior to settlement and point out any defects I may have missed. It always amazes me how many small items I’ve walked past on a daily basis that a new set of eyes are able to pick out in a moment. Let the architectural service professionals you connect with through Archability be your new set of eyes and with a few inexpensive improvements, give your home the great curb appeal it needs to sell in a tough market.