With the flowering trees and shrubs bursting out all over and temperatures in St. Louis a balmy 70+ degrees, you HAVE to be thinking, “It’s spring and that means ‘househunting’”.

And then you probably go, “But they say it is not a good time to sell my old house even if I find a new one?  I don’t want to do something foolish … and I don’t want to lose money!”

We have the answer!  Remember what your house was worth 2 years ago?  Well, we can’t say it won’t be worth that now BUT, even if it isn’t quite that high in value, neither is the one you want too buy!  Yes, you will probably get a “deal” on the new sparkly home.  And you might have to give a “deal” on your current home…but the difference could be about the same as 2 years ago!  So, you get your new home, you sell your old home, you get a much lower interest rate than your old home and a lower value (which means lower taxes, usually) on the new home!  Best yet, you get to live in your dream home at a price you never ever figured you could pay for it!  Just think:  it is not the finite price, it’s the spread between the two houses that counts!!!

Now’s the time.  If ever before you wanted to buy a home — or you think in the future you might want to buy a home — you will ALWAYS regret not buying in 2009!!  Why?  Well, lots of reasons really — but here we want to point out current interest rates!  They have never been this low.  Well, maybe for yoour great great grandparents or something!  But not in my lifetime — and I’m old!  Why?  Because the government wants them that way…that’s why.  What do I mean?  We are in a recession.  This is the most serious recession since before I was born (and remember I’m OLD!).  If you remember your history or economics, the Keynesian philosophy says we need to spend our way out of recessions.  And the banks and other financial institutions are being careful to keep their money in the bank, so to speak.  So the government, bless their hearts, opened up the printing presses and are sending those same institutions , the ones that make home loans and business loans, lots and lots of money with one order: “LOAN IT OUT TO HOME BUYERS AND BUSINESSES.”  That way, simply put, we will be buying our way out of this recession and we can all heave a collective sigh and go back to normal. 

House prices are wearing “20% off” labels and even more, in many cases, from a couple years ago.  And, when we saw bargains like that in stores, we’d open our checkbooks and buy.  DIfference is:  in housing, you normally NEVER get such a deal!  Then, add to that these teeny weeny fixed rates and it becomes like this imperative thing to do: GET YOURSELF THE HOME OF YOUR DREAMS…NOW!  Before everyone else figures this out.  Otherwise, when you drive down your “dream street” past your “dream house” in two or three years, you will start crying.  Uncle Sam won’t be giving money to those banks to lend at such rates and homeowners who DID jump now, will be smiling as they see their house prices rise and rise!  Want to know what interest rates are?  You know, they change daily.  Go to www.theirvineteam.com or call 636-391-2100 and we’ll give you the most current info.  And, from that website, you can also go “on the web” shopping for listings!  You’ll be pleasantlly (actually, joyfully!) surprised!!

If you are browsing for a new home (and you should be, as there will never be a better time in your lifetime to do it!), you may have noticed something:  houses are all dressed up! I don’t know if it is because people are watching HGTV or what!  I have been in real estate for 25 years and NEVER have I ever seen houses for sale so uniformly “fixed up” to sell. In the “biz”, we call it “staged”.  One after another has been painted, carpeted, granite-countered, steam cleaned, closets cleaned, furniture rearranged, dodads removed … so every home, one after the other, looks just like a display!  It is a treat to show homes nowadays.  And I’m almost jealous that I am not in the market.  Such wonderful goodies to chose from, running at sale prices not seen for decades, with interest rates at unbelievable prices!  The problem may well be there are TOO many choices that look fabulous.  After all, when you see too much that is delectable, it is often hard to pick just one!  OR — maybe you could talk your old neighbor into buying the one YOU don’t choose!  Your Easter Parade this year could be going from house to house, until you find the one that says, “Unpack here.  I’m waiting for you!”

I know, this market can be frustrating and confusing for both buyers and sellers! And we in St. Louis county, St. Charles county, Chesterfield, Ballwin, Ellisville, Wildwood, and Town and Country are no different than other parts of the country!! Let me try to help with that confusion a little!  First, you need to understand that there IS a difference between “price” and “value’.  Price is the amount you are asking for your home, while value is what a buyer perceives the property is worth.  And these can be two different amounts!  Value, as determined by a buyer, can be influenced by many factors such as: location, condition, comparison to other homes in your price range, features one home has that another doesn’t have.  But, by paying attention to details that can have a positive impact on the value, you as a seller can significantly increase your chance of snagging a buyer who agress with your idea of value!

First, look at a few simple things:

1)  Size makes a difference in perceived value!  So, you want to make your home appear larger than its actual square footage.  You do this by reducing the amount of furniture, knick-knacks, and clutter and making the rooms look “naked.”  The space will then feel bigger.  Builders have done this for years by vaulting ceilings or making two-story rooms!  While the actual square footage may be small, the rooms appear large!

2) Cosmetics are extremely important.  Fresh paint inside, walls, ceilings, and even woodwork, makes the home appear newer.  And remember, this home may be your old home, but it is someone else’s “new” home.  So make it look new.  And painting can be done so inexpensively.  Clean carpeting and, if you think it might be too worn, don’t hesitate to replace it.  You will find many carpet places will bill you at closing now. 

Kitchens and bathrooms are critical to most buyers. So updating these two rooms can bring you more money and a quicker sale as well. We have even had people put in granite counters just to sell the house (no, they aren’t as expensive as you think and can even be put over your old counters).  This is an improvement that pays for itself in a quicker sale and buyers are so impressed in older homes to see these two rooms updated.  In a bathroom, you may want to replace corroded faucets.  Not expensive, but something people will notice. And clean out those closets, including the linen closet.  People don’t want to buy a home with small closets.  They are leaving small closets.  They want bigger!  So cleaning out your closet will give them the perception that they are getting that bigger closet.

Pay attention to the entrance and yard and clean it up, put fresh mulch there and maybe a wreath to welcome those buyers. This is a buyer’s first introduction to your home.  When I showed a house, I could usually tell how tidy the inside of a home was — by the outside!  Remember that buyers stand at your front door waiting to get inside and will be looking at the brass doorknob, the doorbell, the light.

3) Take care of the obvious, like spots on the ceiling from a small leak.  Buyers tend to “horribleize” and, if they see one thing wrong, they imagine lots of other things wrong that they can’t see! I know you lived with those spots, that worn carpeting, the stain on the basement wall.  And you don’t want to spend money now, when you are leaving.  But this might just be the reason you can leave!  If you ignore things, you might get to live in your old home for a much longer time!

I know this sounds daunting.  But the money is small — and we are selling homes quickly that listen to these hints!  Just give us a call and we can fill you in, by coming out and doing a personal assessment of your particular home!  Our number: 636-391-2100!