Bob Wuest

Every day people ask me about the state of the market. Well, kids, all the stats say there are a LOT of homes for sale out there. That typically extends the time to sale, and depresses prices.

Buyers are more picky today than when there were fewer homes to choose from. So if you're selling, it's important to pay attention to the details in order not to have your home passed by, over and over.

Here's a few ideas on how to get your home sold.

1. Kick up the "WOW" factor outside. It starts with the view from the curb. What can you do to make people say "WOW!" when they drive past your home? (Hint: then they'll want to see the inside!) It goes beyond trimming the grass and shrubs, I'm talking dressing up the home - just like you'd dress up when you go to your 20th high school reunion! You don't do either every day, right? Here's what I'm talking about: CNN Money Article
2. Entrance dynamics. I see it all the time - when I open the door to the home and the first view is gorgeous, the lady whispers to her husband: "Honey, I think this is the one!" And the rest of the time in the home she's finding every reason to justify her initial feeling. Here again, the "WOW" factor is extremely important. What can you do to create that impression the moment they walk in the door? If you don't know, then see the staging idea on the bottom of this post.
3. Kitchens and baths. I'm generalizing here, but this is my experience: women make decisions on which home to buy. At the top of womens' lists are: a) modern kitchens with lots of counter space and newer appliances; and b) sparkling-clean bathrooms. Here's a minimum of what you want to do: Clear everything off the countertops. Paint older cabinets. Install contemporary fixtures - faucets and lights. Clean tile, floors, bathtubs. Re-caulk if necessary - caulk should be bright white.
4. Eliminate clutter. If your stuff is all over the place, buyers can't see how their stuff will fit. You're moving anyway, right? So go through the house, and remove anything you won't need till you're moved. Furniture, files, knicknacks, family pictures, anything that's not functional. And don't move it to a pile in the basement! Get a POD or a storage locker, and move it offsite.

Maybe you've heard of staging a home? The home staging trend started in California in the early 90s. It's really caught on here over the last couple years. For a couple hundred bucks, a professional designer will visit your home and make suggestions on how to re-arrange your furniture and accessories for maximum eye appeal. Sometimes they make use of your own stuff, and sometimes they recommend buying or renting some things that will really dress up your home.

Do a Google search on home staging, and you'll find all kinds of statistics about how much more a staged home will sell for, and how much more quickly. Unless you have a flair for interior design yourself, I have one suggestion: spend the bucks and DO IT! Your competition - other homesellers in your area - probably did! Please believe me: it'll pay for itself.

If you need a good home staging professional, call me - (513) 328-1520, and I'll recommend a couple for you.

Need a Cincinnati Realtor? Call me!

The Cincinnati Enquirer did a front-page "slash and burn" job a few weeks ago about the state of the Cincinnati real estate market. It felt really wrong to me, since the production boards at my office are loaded with recent activity, and my business is booming. So I decided to take a look at the statistics published by the Cincinnati Area Board of Realtors, and share some of those here. (Note: these are extracted from the March '07 single family & condo stats).

Homes for sale: 15,455. Up 8.4% from March of last year.

Closed homes in March: 1,738. Down 13.5% from March of last year.

Pending sales in March (contract accepted, waiting to close): 3,533. Down 13% from March of last year.

Average price: $177,543 -.29%

Average days on market: 88 (up 13.6% from last March).

Months of inventory: 8.9 (This figure is derived by dividing the homes currently for sale by the number of closings)

Here's my take on these.

Inventory is up. Sales are down. Average price seems to be stabilizing. It's taking longer to sell homes than a year ago.

Yep, those are all characteristics of a buyer's market.

What's that mean to you?

If you're a seller, be prepared to wait a bit longer to get your home sold - about 3 months on average. If you're thinking about selling and you're in no hurry, better to wait for the market to shift. If you choose to sell now, hire a Realtor who will go the extra distance to get your home sold. Ask about his/her specific marketing plan for your home, and ignore anybody who gives you a canned answer. The seller's market strategy of simply listing it on the MLS and putting a sign in the yard is a formula for a low price and a long drawn-out sale process.

If you're buying a home, you have a lot to choose from. Once you've found the one you like, it's likely that if your Realtor's a decent negotiator, he'll get you a better deal than you'd have gotten a year ago. You should be able to negotiate a better purchase price, or some seller concessions - assistance with closing costs, or interest rate buydown for example.

Sell your Cincinnati home here!