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!

We are once again fortunate to have been invited to participate in the Bill Barrett Top 500 Real Estate Event held in Orlando in conjunction with the National Association of Realtors Annual Conference.  We have been involved with this prestigious group for nearly 10 years now and the amount of information that is shared among these top real estate agent is simply not available anywhere else in the country.  Many of these 50 real estate agents design their entire yearly business plan based on discussion, advertising, technology, and real estate techniques that are shared among this group at this annual event. And it is such an honor to be included with these “moguls of real estate“.  More than that, sharing ideas helps The Irvine Team perfect their abilities to help clients and customers reach their goals when it comes to buying and selling.  Certainly, we need as many new ideas as possible to help in the St. Louis, Chesterfield, West County, and St Charles markets in this challenging period.\

But good news is The Irvine Team has closed 145 sales so far this year, so the challenges that have faced us have certainly not slowed us down! Now is a particularly good time to go home shopping in St. Louis.  Traditionally, interest rates are the lowest in December and begin to rise as January progresses and demand increases.  And the inventory you have to choose from is maximized, as many people want to move before the holidays!  If you want to browse, please use our easy-to-use MLS search.