Why Some Homes Sell Faster

Why Some Homes SELL FASTER With U.S. home prices headed for a triple dip, deals are fragile and last-minute glitches are holding things up longer than ever before. Even in a down market, though, some houses are selling far faster than others. Here are the "it" factors helping those homes move quickly. ENERGY-EFFICIENT FEATURES Installing energy-efficient features can make your home more appealing to buyers, especially in a down market. Consider the following upgrades. SOLAR PANELS A recent study by National Renewable Energy Labs found the presence of a PV solar system on the roof made houses sell 20 percent faster and for 17 percent more money than non-solar homes. AVERAGE SELL TIME (AT TIME OF STUDY) HOME APPRECIATION Sold Sold 23 28 55% 33% MONTHS MONTHS SOLAR HOME NON-SOLAR HOME SOLAR HOME NON-SOLAR HOME ENERGY-EFFICIENCY CERTIFICATIONS OTHER ENERGY- EFFICIENT UPGRADES A study conducted two years ago by the Earth Advantage Institute in Seattle and Portland identified what may be another plus: Solar water heaters - Geothermal heat pumps HOMES MARKETED WITH ENERGY- EFFICIENCY CERTIFICATIONS APPEAR TO - Spray foam insulation SELL FASTER ON AVERAGE THAN THOSE WITHOUT. - High-performance windows or doors TIP Be sure to highlight the energy and money-saving aspects of your home to prospective buyers in language the average person understands. For instance, "Our average electricity bill is $8 a month" is better than. "Our solar panels produce 6 kilowatt hours of electricity per day." ON THE SMALLER SIDE A 2011 study by the National Association of Home Builders showed smaller homes are moving faster in today's tough economy because of their smaller price tags and lower ongoing monthly costs. One-bathroom homes, for instance, actually sell Homes with two stories or more took more than 13 PERCENT faster than others. 20 PERCENT longer than single-level homes. THE POT IS SWEETENED In a down market, smart sellers are offering something extra to help close the deal. Current strategies you can try: SKY CLOSING COSTS AIRWAYS 24 Offer to pay for the buyer's closing costs. Throw in a warranty that covers appliances. Give the buyers two airline tickets to a popular vacation destination. APPROPRIATE PRICING AND APPRAISAL Price is an especially important factor in a down market. Quick sellers really do their research on what homes in their communities are actually listing and selling for. Studies show going too far outside the neighborhood's range of prices can slow down a sale. You have a prospective buyer and it's time to get the home appraised, but undervalued appraisals are roadblocking many a deal these days because lazy appraisers often go on too little information. If you have data proving great schools or low crime in the area, make sure your buyer's appraiser has it. Also make sure they're factoring out foreclosures and distressed sales in the area's average prices. TIP DESCRIP GREAT DESCRIPTIONS A Canadian study of over 20,000 real estate listings found descriptions that focused more on "curb appeal" or general attractiveness helped a property sell faster than those focusing on value and price. MOVE-IN CONDITION Beautiful! Gorgeous! NEW LANDSCAPING! MUST SELL! Describing a property Listings with the Using the word "landscaping" hastened a sale by Avoid language that connotes desperation such as "motivated" and "must as in "move-in words "beautiful" or condition" quickened the sale by 12 percent. "gorgeous" sold 15 percent faster. sell." These words were 20 percent. associated with sales that were slower by 30 percent. TIP Terms must be used honestly in order to hasten a sale. OTHER TRIED-AND-TRUE ADVICE FOR À QUICK SALE YOUR NEW HOUSE! CURB APPEAL · House paint looks presh · Has landscaping · Yard is green and mowed · Yard is pree of weeds, toys, or other objects · Walkways and railings are HOUSE IS IN "TURNKEY" PROFESSIONALLY OR MOVE-IN CONDITION STAGED Turnkey generally means "requires no immediate repair or work to inhabit," but can have other meanings such as "includes furnishings," a popular interpretation in places where vacation homes are common. Make sure you're clear with the realtor on how that term is used. The only studies on this have been conducted by staging companies, but most real estate agents concur that :least professionally staged homes sella 20 to 40 percent faster than vacant ones. smooth and well malntained SOURCES: NATIONAL RENEWABLE ENERGY LABS I CLEANTECHNICA I BNET I INVESTOPEDIA I MSN I NATIONAL ASSOCIATION OF HOME BUILDERS I EARTH ADVANTAGE INSTITUTE 田田