SavannahNOW Home Finder.com - Savannah's Ultimate Home Buying Guide

Approximately 5 million existing homes are sold each year. While each transaction is different, every owner wants the same thing � the best possible transaction with the least amount of aggravation. However, selling a home is becoming a more complex business. Seller disclosure statements, longer purchase and sales agreements, and environmental concerns are now becoming increasingly more prevalent.

Almost 100,000 existing homes are sold each week, and the process is not as easy for sellers as it was five or ten years ago. Surviving in today�s real estate world requires experience and training in fields such as real estate marketing, financing, negotiation, and closing. This experience and training are available from local Realtors.

More important, the home-selling process has changed. Buyer brokerage, a process in which Realtors represent homebuyers, is now common nationwide, and good buyer-brokers want the best for their clients.

Are you ready?

The home-selling process may start several months before a property is made available for sale. Before you put your home on the market, it is necessary to look at a home through the eyes of a prospective buyer. Keep in mind what you would want to see if you were going to buy a home. This can help sellers figure out what needs to be cleaned, painted, repaired, or thrown away. The goal is to show a home that maximizes space, attracts as many buyers as possible, and is eye appealing. While part of the �getting ready� phase relates to repairs, painting, and other home improvements, this is also a good time to ask why you really want to sell. Selling a home is an important matter, and there should be a good reason to sell.

Reasons may include a job change to a new community, the need for more space, or the need to downsize. Your reason for selling can impact the negotiating process so it is important to discuss your needs and wants in private with the Realtor who lists your home.

Generally speaking, markets tend to have some balance between buyers and sellers year-round. In a given community, for example, there may be fewer buyers in late December; however, there also are likely to be fewer homes available for purchase. Home prices tend to rise or fall because of general demand patterns rather than a specific time of year. Owners are encouraged to sell property when the property is ready for sale, when there is a need or desire to sell, and when the services of a local Realtor have been retained.

When should you sell?

The marketplace tends to be more active in the summer because parents want to enroll children in classes at the beginning of the school year (usually August). Most houses are also typically available in the summer months.

How do you improve your home value?

The general rule in real estate is that buyers seek the least expensive home in the best neighborhood they can afford. In terms of improvements, this means your home should be similar to the neighborhood, but not be over-improved. For example, if most of the homes in the neighborhood have three bedrooms, two bathrooms, and approximately 2,500 square feet of heated space, a property with five bedrooms, more bathrooms, and far more space will likely be priced much higher and be more difficult to sell.

Improvements should be made so that the property shows well, is consistent with the neighborhood, and does not involve capital investments � the cost of which cannot be recovered from the sale. Furthermore, improvements should reflect community preferences. Cosmetic improvements such as paint, wallpaper, and landscaping help a home �show� better and are often wise investments. Mechanical repairs to ensure that all systems and appliances are in good working condition are required to obtain a better price.

Ideally, sellers will want to be sure the property is competitive with other homes available in the neighborhood. Your local Realtors can provide suggestions that are consistent with your marketplace.