10 Tips for Buyers and Sellers

MSN Real Estate posted a great article with 10 tips for buyers and sellers.  Here is a summary:

1. Get off the sidelines:

• Lots of buyers are waiting for the market to hit rock bottom, but that moment has passed.  However, interest rates and home prices are still pretty low.  
• For Sellers waiting for the market to improve, the time is here.

2. Screen your buyers:

• Make sure potential buyers are pre-approved. 

3.  Create a good impression:

• Most buyers start their search online, so make sure the photos on your online listing are good.  Rooms should be clean and clutter-free and the outdoors should be well manicured.

4.  Renovate wisely:

• Sometimes the littlest projects bring in the most bang for your buck!  Buyers want to come into a move-in ready home, so finish those projects that got started but you never finished or even give the walls a fresh coat of paint.  No need to to a major remodel when you won't be the one to enjoy it!

5.  Build your team wisely:

• Hire a qualified real estate agent (my number is 337-849-4051).  Get a good appraiser, inspector, and title company.  Look them up on Angie's list of the Better Business Bureau to make sure they have good reputations.

6.  Don't let your heart lead your head:

• Price your home right from the start.  Your experienced agent should be able to give you a strong number, based on comparable sales, up-to-date appraisals and specific neighborhood time on the market trends.

7.  Open your marketing options:

• Market your home on pinterest, twitter, facebook, or LinkedIn.  

8.  Run the numbers:

• Are you in a good position to buy?  Get a credit report and fix any blips that need fixing to save on mortgage interest rates.  Assess your monthly income and bills to figure out what you can really afford for a monthly payment.  Don't forget that you'll have to pay closing costs, inspection fees, legal fees, loan fees, etc.

9.  Work your ground game:

• Do a criminal check of the area 
• Talk to neighbors about the pros and cons of the area
• Research schools
• Do a run through of your work commute to check out the traffic patterns
• Visit at different times.  There might be trains, pet noise, unkept yards, etc.

10.  Leave nothing for chance:

• Turn on the stove
• Run the water
• Flush the toilets
• Turn on the AC and heat