Top seven tips for selling in spring
The combined real estate bellwethers of appraisals and listings are indicating the Australian real estate market is set for a relatively busy selling season in 2011.
That said, listings are a touch behind spring 2010, as a consequence of a relatively cold and wet winter in many parts of Australia, interest rate uncertainty, concerns about the state of the two-speed economy in Australia and sovereign debt woes in America and parts of Europe. Throw in political instability in Canberra, and it is little wonder some vendors are taking a wait-and-see approach to a home sale.
At a micro level, it will only take one or two good results to entice home owners to put their homes on the market. So, with these factors in mind, my expectation is that the traditional selling season will start later than in 2010 and run much closer to Christmas.
However all bets are off should the Reserve Bank of Australia decide to hike up interest rates before summer. Although, many in the financial markets are starting to predict that a cut in the official cash rate, which currently sits at 4.75%, is more likely.
The good news is that no matter what is happening in the macroeconomic environment, there are still steps homeowners can take to make sure a home sells as fast as possible this spring.
If you haven’t done it yet, I’d contact your agent and to start to prepare your house for a spring sale. First impressions of your home are critical to a swift and successful sale. In fact, one of our offices recently conducted some research which showed that 40% of buyers to visit a property during a four-week campaign come during the first week. It’s absolutely critical that a house looks attractive if the best price is to be achieved.
The good news is that sprucing up your house or apartment won’t cost an arm and a leg, and there are some simple steps you can take, which include:
- clearing overgrown gardens – you can do it yourself or hire a professional
- trimming the lawns and edges
- removing leaves from paths and verandahs
- sprucing up the house’s exterior by washing down or repainting walls.
- cleaning the eaves and guttering, and brushing away leaves and cobwebs
- decluttering rooms of excess furniture
- cleaning and tidying bathroom(s) and kitchens
There is also no point having killer views obstructed by trees and bushes. Be sure to prune trees and shrubs, while cleaning the windows and screens will help improve a home’s unique outlook, and allow in more sunshine.
Angus Raine is CEO of Raine & Horne