Judith Jensen

The real estate uptrend continues as the National Association of Realtors (NAR) announced today that existing-home sales rose 7.2 percent in July. This marks the first time in five years that existing-home sales have increased for four months in a row and is the largest monthly sales gain on record.

In addition to the month-over-month increase, existing-home sales were 5 percent higher than in July 2008. The last time sales were higher than a year earlier was November 2005.

NAR Chief Economist Lawrence Yun is encouraged by the recent statistics. "The housing market has decisively turned for the better. A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales," he said.

The real estate market has begun its rebound, and with it has come an increase in homebuyer activity. Adding to the renewed interest are many first-time buyers looking to take advantage of the $8,000 tax credit before it expires on December 1.

A well-cared-for home with memorable details speaks for itself. Sellers looking to make their home stand out can make a few small enhancements that won't cost a lot of money, but will help catch a buyer's eye and could lead to an offer.

Here are a few areas where it may make sense to spend a little remodeling money:

• Create a finished look by adding crown molding, wider baseboards and/or decorative framing around doors.

• Add better insulation, caulking and energy efficient appliances which are popular with buyers.

• Freshen up the walls with a new coat of neutral-color paint. Faux finishes or accent walls can add pizzazz when colors and textures with mass appeal are chosen.

Statistics from the National Association of Homebuilders show that the square footage of homes has shrunk in recent years. This is a trend that is likely to continue given the current economy.

This may be an opportune time for owners of smaller homes to sell, according to a recent article published in Realty Times, which provided these tips for giving a small home big appeal to buyers:

• Accentuate storage space. A buyer must sense that a smaller home has enough storage space to accommodate their everyday needs. Clear out the attic and/or basement if the home has them. In addition, built-in furniture or custom closets also provide convenient, hidden storage.

• Create an office niche. Home offices are very popular, but a smaller home might not have an extra room to use for this purpose. Using a decorative screen around a small desk or tucking one away beneath a staircase shows buyers how they can still have a home office in a small space.

• Make the most of space. In the kitchen, clear appliances from the counters and mount them under the cabinets for a clutter-free look. Avoid crowding a small living room with an oversized couch, and instead consider several comfortable chairs that may fit better and open up the room.

When selling a home, it helps to make the property as appealing as possible given the current season. The summer is no exception. Spending a little extra time and effort to create a summer-friendly atmosphere might be just what is needed to help potential buyers envision living in the home and ultimately make an offer.

Following are some things you can do to help your home shine during the summer:

• Go Green. There is no escaping the fact that your yard will always make the first impression. To start off right with potential buyers, keep your lawn well maintained. Make sure shrub beds are free of weeds and full of mulch.

• Let the sun shine. While keeping window coverings closed might keep energy costs down, it also creates a more depressing atmosphere. Sunlight makes a home feel bright and makes people feel happy. Open the window coverings for any window that doesn't have a bad view.

• Set the scene. Stage your yard in a way that buyers can see the potential it has as an outdoor living space. Put out a few lounge chairs. Rearrange the patio furniture. Add some potted plants. Clean up any clutter. Make your yard a place buyers want to spend time in.