Adding Value by Dennis O'Hagan

Realtor.com survey: Holidays are 'good time to sell'

Real estate pros say 'tis the season for more serious buyers, less competition

By Inman News
Inman News®

Most real estate professionals always advise sellers to list their homes during the holiday season rather than waiting, citing more serious buyers and less competition among properties, according to a recent survey from Realtor.com.

The property search site's Holiday Home Selling Survey gathered responses from 429 real estate professionals surveyed online between Oct. 26, 2011, and Nov. 8, 2011. The "holiday season" was defined as Nov. 23, 2011, to Jan. 2, 2012.

Among respondents, 60 percent said they would always advise a seller to list a home during the holiday season and agreed that "it's a good time to sell," while 30 percent said they would sometimes advise it if the seller were motivated. Only 1 percent said they would never advise it because "selling during the holiday season is always a bad idea."

The vast majority of respondents, 79 percent, said more serious buyers were one of the biggest benefits of listing during the holidays, while 61 percent said less competition among homes was a plus. Only 17 percent said cold weather making homes look cozy was an advantage.

Indeed, 39 percent of respondents cited winter weather as one of the biggest challenges to putting a home on the market during the holidays. An equal share said buyer vacation and celebration schedules were a problem.

But the biggest challenge, noted by 63 percent of respondents, was keeping a home "open house ready," meaning clean and staged, during this time of year.

Selling a home during the holidays requires employing different strategies from selling a home during other times of the year, according to the survey.

More than eight out of 10 respondents said online listing photos were particularly crucial for homes listed during the holiday season. The main reasons cited were that buyers attend fewer open houses because of busy schedules or winter weather, while sellers also host fewer open houses during this time.

The majority of respondents, 74 percent, said pricing a home to sell was even more important during the holiday season, and 40 percent said staging a home was more important at this time of year. Nearly a third said being flexible with contract terms such as move-in dates and when closing costs were paid was more essential during the holidays.

The way a home is staged during this time of year is also significant, according to the survey. Almost all respondents said they advised sellers to put up some seasonal decorations, though there were differing opinions on the types of decorations.

A 37 percent plurality said homeowners should put up some nonreligious holiday decorations to make a home feel inviting, while 28 percent said sellers should put up all of their holiday decorations, including religious ones, to make their home feel festive, the survey said.

A similar share, 27 percent, said sellers should put up seasonal decor that is not suggestive of specific holidays, while 8 percent of respondents advised sellers to stage their home without any decorations at all.

Eighty percent of respondents said they encourage sellers to light their fireplace when staging a home during the holiday season, while 62 percent said they suggested sellers update outdoor lighting because the buyer is more likely to see the home at night due to shorter days.

Other popular staging advice for sellers included using winter-scented home fragrances before an open house, making the home feel more cozy through reading nooks and blankets on couches and beds, setting the table to showcase holiday entertaining, and playing seasonal music that is not specific to a particular holiday, the survey said.

Holiday Tips For Staging Your Home...

If you plan on staging a home for the holidays, here are some important things to keep in mind. 

1. Don’t over do the holiday cheer. When Santas start to outnumber the rooms in the house may want to start being more selective in what you display.
2. Add splashes of holiday colors. How about some holiday red?
3. Stage for the senses. Get buyers in the mood with some holiday music and the smell of a pot of spices or cider.
4. Keep the tree simple, yet elegant. Less is more!
5. Give a holiday impression from the curb. Add poinsettias & hang a wreath on the front door!
6. Remove decor after the holidays. 

10 ways to winterize your home...

Thinking of selling your home or just want to get it ready for winter????  Cooler evenings and shorter days indicate that winter is just around the bend. Make the most of your daylight hours by preparing your house for the cold season.  Here's your annual checklist of things to do to get your home ready for the change of season.

Inside your home

Check smoke detectors: Don't neglect that smoke detector any longer! Take some time right now to check the operation of detectors, and to change the batteries. If you have an older house with a limited number of smoke detectors, install additional ones at each sleeping room, and make sure there is one centrally located on each level of the home as well.

Install a carbon monoxide detector: As houses get closed up for winter, the chances of carbon monoxide poisoning from malfunctioning gas appliances increases substantially. If you have a furnace, fireplace, water heater, or other appliance that's fueled by propane or natural gas, or if you have an attached garage, install a carbon monoxide detector. They're available inexpensively from many home centers and other retailers, and offer easy, plug-in installation.

Service your heating system: Perform a complete system check of your furnace annually, either by yourself or by a trained furnace technician. Check for worn belts, lubrication needs or other servicing that might be required; refer to your owner's manual for specific suggestions, and follow any manufacturer safety instructions for shutting the power and fuel to the furnace before servicing. Check the condition of duct joints and insulation, and of course, change the filter.

Upgrade your thermostat: An older thermostat that's a couple of degrees off can result in a lot of wasted energy, and so can forgetting to set the thermostat down at night. You can take care of both of those problems with an upgrade to a programmable thermostat. Programmable thermostats are digital and typically very accurate, and they allow for easy, set-and-forget programming of temperatures for different times of the day, including energy-saving nighttime and workday setbacks.

Outside your home

Trim trees: Trees that are overhanging your home can be a real hazard. They can deposit debris on your roof, scrape against shingles during wind storms, and, worst of all, snap off with potentially devastating results. Have a professional tree trimming service inspect the condition of overhanging tree limbs, and safely cut them back as needed.

Check the gutters: Clear the gutters of leaf and pine needle debris, and check that the opening between the gutter and the downspout is unobstructed. Look for loose joints or other structural problems with the system, and repair them as needed using pop rivets. Use a gutter sealant to seal any connections where leaks may be occurring.

Break out the caulk: A few hours and few tubes of caulking can make a big difference in both your heating bills and your comfort levels this winter. Caulk around windows, doors, pipes, exterior electrical outlets, and any other exterior penetrations where cold air might enter. Use a good grade of acrylic latex caulk, either in a paintable white or, if you don't want to paint, use clear.

Drain sprinkler systems: In colder areas, now is the time to be thinking about having your sprinkler and irrigation systems blown out. You can rent a compressor and do this yourself, or contact a landscape or irrigation system installer and have them handle this for you. This is also the time to shut off outdoor faucets and install freeze-proof faucet covers as needed.

Adjust exterior grade: Fall is also a great time to look at the grade around your home, and make sure that everything slopes away from your foundation to avoid costly problems with ground water. Add, remove or adjust soil grades as necessary for good drainage.

Change light timers: If you have exterior lights that are controlled by timers, including low-voltage ones, check the timer settings. Change the "on" times to an earlier hour to reflect the earlier winter darkness, so that you always have adequate outside light available.

Selling your home in 2011? Tips to add value during winter months...

Major home renovation can be overwhelming, but there are a few fundamental repairs that can update your home's appearance and increase its value.  If you're planning to sell your home in 2011, take advantage of the colder winter months to prepare your home for a spring sale by focusing on a few key projects:

MAKE A FIRST IMPRESSION

The entryway is the first close-up encounter a potential homebuyer will have with your home.  Manicure your front yard and update or even replace your front door to complement your home's exterior.  Select a rich, dark stained wood or bold white door to draw attention to the main entry and add personality to your home.  If your door is already in great shape, consider a simple replacement of weak or older-looking hardware that will impress byuers at forst sight.

GET COOKING IN THE KITCHEN

Experts agree that a kitchen can significantly impact a home's perceived value.  An outdated kitchen can be a deal breaker for many homebuyers.  Naturally, then, it's the place you might spend the most amount of time updating. To increase the appeal of your kitchen, consider investing in updated, matching appliances that match the style of your kitchen.  Some manufacturers even offer replacement panels to update the exteriors of older appliances.

Next if you can't afford to add new cabinetry, change out the hardware so the knobs, drawer pulls and handles match your decor and add a modern flair.  Adding technology driven fixtures, including built-in water filtration systems, garbage disposals and high-tech faucets is another great way to increase the room's appeal.  Delta Faucet's Touch20 Technology will impress homebuyers and add a sense of luxury to the room.  The technology enables users to turn the faucet on and off with just a touch anywhere on the spout or handle, and is available on a variety of models.

UPDATE AND UPGREADE LIGHT FIXTURES

Lighting is key.  It can drastically change the look and feel of a room, and lighting fixtures are affordable and relatively simple to install on your own.  Shop discount stores and home improvement depots to find a statement piece to add spice to your living room.  A beautiful ceiling fan with lighting can serve double-duty to update your family room.  Remember, well-lit and bright rooms appear larger and more open.

STEP ON IT

Flooring is one of the first things that potential homebuyers notice.  Make sure you dust, vacuum and clean so that you can show off the flooring to its best advantage.  If you have carpet, consider replacing it with wood floors or wood alternatives.  If you already have hardwood floors, polish and protect your flooring so that it gleams when potential buyers step into the home.

Whether you're trying to sell your home this winter or simply want to update its look, you don't have to wait until the spring thaws.  When the cold weather drives you inside, take advantage of the time to make attractive upgrades that can increase the appeal and value to your home.