Home sellers desperate to unload their property in a depressed real estate market are turning to imaginative and sometimes off-the-wall gimmicks to make the sale.
In the Hamptons on Long Island, one seller offered his beachfront house free to anyone who purchased his $375,000 Rolls-Royce. A Westchester County, N.Y., family was willing to help with college tuition costs. Then there`s the St. Joseph craze, in which sellers bury a statue of this patron saint of the family in the back yard and hope for a miracle: a buyer.
”With all the inventory out there, you have to be creative,” concedes Carolyn Weber, vice president of Century 21 of the Northeast Inc. ”But basically, you should present your property with its best foot forward.”
This means touching up chipped paint, replacing broken windows and doors, and stashing away clutter-like under the bed, where few buyers dare to look.
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Beyond the basics, here are a few tips from Weber and Mark Caravaglio of Schlott Realty on Staten Island:
– Before you list your home, hire an inspector or an appraiser for a professional opinion of its worth. Unrealistic pricing is one of the biggest problems facing homeowners today, says Caravaglio. The inspection also can clue you to problems, such as a leaky roof or a cracked foundation, that need repair.
– Have a termite inspection, so you can guarantee buyers that you don`t have them or have taken steps to eliminate the pests.
– Offer incentives, such as paying part of the closing costs or providing a home warranty, which is a kind of insurance policy against appliance breakage in the first year.
– Make sure the property is well-maintained-hedges are trimmed, leaves are raked, snow is cleared, sidewalk is litter-free and trash cans are out of sight.
– First impressions count. Check to see that shutters are hanging straight, replace ratty storm doors, and clean, repaint or replace a worn front door. If you`re repainting, try red. A definite power color, says Weber, it is attractive to many buyers. Or try flower boxes with red geraniums; in colder months switch to sprigs of holly and evergreen. It will look cheery when the weather is raw and the yard is bare.
– Replace old doorknobs and switchplates with shiny brass ones. They look expensive, but aren`t.
– Update a mundane bathroom with new curtains, towels and bathmats in a trendy color scheme. Keep personal items, such as razors and brushes, out of sight. Instead of buying a new tub to replace one that`s cracked, have it reglazed, which costs about $300.
– To create a sense of calm and serenity, play soft background music and display fresh, seasonal flowers in your best vases. In cool months, if there`s a fireplace, show it off and light a fire.
– If you`re planning to redecorate, don`t. Weber and Caravaglio say go neutral-paint walls white and replace worn-out carpets; if there are wood floors underneath, spend the money and have them refinished, as natural wood floors are a major selling point.
– Co-op and condo sellers should have financial documents on hand, such as a prospectus, minutes of board meetings and samples of disclosure forms required by the board. Some sellers even provide a list of names and phone numbers of neighbors willing to chat with buyers about the area, the school system and local baby-sitters.