S P E C I A L S E C T I O N : R E A L E S TAT E
6. BUYING/SELLING: Get a second opinion.
When you have lived in your home for years, it’s easy to overlook problems that
potential buyers may spot right away. Have a relative or trusted friend come over to spot
any small fixes that you can make prior to putting your home on the market to make sure
it’s in optimal condition for selling. When considering buying a home, it’s also helpful to
have someone who would not be buying the home go with you to take a look. He/she will
be able to point out potential issues that you may not see when trying to make such an
important decision.
7. SELLING: Ignore the housing market.
Don’t waste your time watching the housing market for the best time to sell. According
to Investopedia, “it doesn’t matter what your home is worth at any given moment except
the moment when you sell it. Being able to choose when you sell your home, rather
than being forced to sell it due to job relocation or financial distress, will be the biggest
determinant of whether you will see a solid profit from your investment.”
8. SELLING: Will renovating always increase
my resale value?
Make conscious decisions when renovating your home. While newer will entice
potential buyers, be cognizant of what rooms you update and how you do it. An updated
kitchen will increase the value of your home, but be sure to appeal to a wide range of
tastes. A good place to start is with the appliances. Realtor.com states that homes with
stainless steel appliances sell 15 percent faster than those without. Updated bathrooms are
easier to satisfy a wider range of buyers’ desires for luxury, but be sure to keep the colors
neutral.
9. SELLING: Don’t spend earnest money!
Many sellers make the mistake of depositing and spending earnest money before
closing day. If the transaction doesn’t go through or the buyer pulls out due to repair
issues, it is up to the seller to return the cash. It is recommended to have a real estate agent
or broker hold the deposit. Most buyers’ earnest money will be held in an escrow account
until the closing day, allowing the money to remain untouched by either party.
10. SELLING: Consider names and numbers.
Just when you think you’ve checked all the boxes for an easy sell of your house, take
a second look at your address. According to Zillow, street names and house numbers
matter! If you happen to live at 666 Fanny Hands Lane, you may be out of luck (however
that particular street is in the United Kingdom, so you should be safe). Innuendo-laden
street names tend to not sell as quickly as something like Thunder Road, for example.
American numerology says that 666 is bad luck and could decrease the value of your
home by 2 to 3 percent. Also, steer clear of the number 4, considered unlucky in Chinese
culture. Stick to the number 8, or include the lucky digits 316 in your asking price! n
Continued on page 24 ➢
22 724.942.0940 TO ADVERTISE | Carlynton-Montour