People Look at Houses but They Buy "Homes"

Today's post is going to be a little less formal. I want to, in this blog, discuss real estate in both formal and informal ways. I will at times offer up a Realtor's perspective and at other times, due my best to be impartial and just give facts. In my opinion, the best way to navigate this strange market we are in is to take advantage where you can adn make the most of what you have.
As a buyer, you have so many houses to choose from. You should look at several, pick a top 3, and see what kind of deal you can get. I advocate a little low-balling. I advise my customers to test the waters with their first offer, their "dream" offer, by offering 10% less then the offered price at most (anything more is insulting). I also recommend that they, in this initial offer, list everything they can think of in the contract that would make this an ideal transaction for them, such as new carpet, paint, repairs, etc.. From this initial offer I usually advise them to pick what features are most important and those they can live without, such as would they prefer $10,000 off the asking price or $10,000 in closing cosat assistance and from this point we can get everyone involved satisfied. But keep in mind, as the saying goes, you know its a good compromise if no one's happy.
For my sellers I advise them to make the best of what they have. I tell them to make their home sparkle. No buyer will admit this, but a stunning home (in perfect cosmetic shape) that needs a few minor repairs (such as leaky faucet etc.) listed at a reasonable/slightly higher price will sell so much faster than a homethat is "dated" at a reduced price. The better your house looks and the cleaner your house looks the more buyers will consider it. Another small feature that plays a big part in selling a home is smell. I always tell my sellers to make their homes smell like an inviting home. Burn candles or bake brownies to enhance the "homey" feel. If its winter, dim the lights, light a fire in the fireplace, and decorate (tastefully) for the holidays. Some agents will tell their clients to remove all personal pictures and knick knacks. I say reduce all clutter but keep family pictures out. People look at houses but they buy "homes".

If you have any questions about this post or want to continue this discussion beyond the customary comment, email me at lizgermanos@yahoo.com. If you are interested in real estate in Hampton Roads and need an agent to guide, please feel free to also email me.