Although sales remain strong throughout our area, current market conditions are such that through the end of May, listings have increased 7% over last year while expired listings are up 25% both factors of which are above the 4% increase in sales. The end result is that there are a significant number of properties for sale both resale and new, giving buyers lots to choose from. When listing properties for sale, many clients seek input on what their home requires in order to present it to prospective buyers in such a manner as to obtain the best possible selling price in the shortest length of time.
Many sellers invest money on renovations or improvements that offer little or no return on their investment much less do they enhance their home in the eyes of prospective buyers. At the same time, sellers often ignore the basic improvements that will improve the salability of their homes, making them more difficult to sell. In my book, honesty is always the best policy and sometimes you have to be brutally frank with sellers when it comes to preparing their home to sell.
Royal LePage has recently conducted a study that identifys the top renovations which add equity to your home while making it more appealing to potential buyers. These include basics such as painting, decorating, updating light fixtures and more. To see the full Royal LePage report including estimated rates of return, please click on the following link:
http://www.royallepage.ca/CMSTemplates/AboutUs/Company/CompanyTemplate.aspx?id=1740
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