Top 4 Tips for Selling Your Home Successfully in 2006?

Selling your home or property in 2006 requires some different strategies than the same process would have a couple of years ago.  There is more "inventory" of homes for sale and buyers have more to choose from.  Here are my top tips to keep in mind when getting ready to sell:

• If you plan to make improvements to the property, make sure you talk to your Realtor first to ensure that you're putting your money where it will actually a) help you sell and b) add value to the property.  The projects you think you want to undertake may not be the best ones for maximizing your sales potential.
• Get two or three Realtors to prepare a Competivie Market Analysis (CMA) to find out what your home is worth in the current market.  Remember that when you finally list the property, the sale price you set will need to balance two potentially competing goals:  a) the desire to get the most money for the property and b) the desire to sell the property as quickly as possible.  Sometimes you can have both and other times you need to compromise with your "pricing strategy."
• Make sure the Realtor you choose maps out a very specific marketing strategy for your property that uses both conventional methods (the multiple listing service, open houses, etc.) but also employs the latest in online marketing strategies.  After all, 77% of all Americans now use the internet in their home-buying process.
• Consider using the services of a "real estate staging" professional.  You may love a certain type of decor, personal photos, and the arrangement of your furniture.  But a professional stager knows what will "show" best to ensure a faster sale at a better price.  Staged homes are on the market an average of 13 days while non-staged homes average 30 days or more on the market.

Special for Whitten Properties Clients only:  List your home with us in June or July and we will provide the services of a professional real estate stager at no charge!  Tell us about your property and we'll contact you with the details of this offer ! 

Things to Do in Maine This Year!

Vacationland.  The way life should be.  Whether you live here or you're visiting from away, mark your calendar for these awesome 2006 events. 

June 4th:  33rd Annual Old Port Festival - Portland

June 24th:  Strawberry Festival - South Berwick

July 15-16:  North Atlantic Blues Festival - Rockland

July 21-23:  Yarmouth Clam Festival - Yarmouth

August 2-6:  Maine Lobster Festival - Rockland

September 22-24:  Common Ground Country Fair - Unity

By the way, if you're planning a trip to Maine and would like to view property while you're here, just give us a heads up on your schedule and we'll make sure you see a good selection of properties that meet your criteria.

Buying: An Investment or A Home?

Over the past several years, many home owners experienced significant rates of appreciation in the value of their homes in a relatively short amount of time.  Combined with historically low interest rates, it was a fairly safe bet to consider almost any home purchase to be an investment with a fairly rapid rate of return. Of course buying a home can still be an excellent investment when done properly.  However, several factors are influencing what buyers can expect from this market: There is more to choose from and sellers should generally negotiate more thoughtfully on a property that holds your interest.  This is a plus. Rates of appreciation are softening.  If you expect to gain "double-digits" in the value of your home in a short period of time, do your research and talk to your realtor so that your expectations are realistic.  This is especially true if you're thinking about "flipping" (buying a property to "fix up" and sell quickly).  Interest rates are increasing .  Make sure you talk to two or three lenders in order to determine what financing vehicle will best meet your needs.  Remember that variable rate financing can be affected by changes in interest rates set by the Federal Reserve Board and can be challenging for long-term budgeting purposes. Even though short-term investment opportunities in residential real estate may be tougher to find, as long-term investing goes, real estate (especially mutli-family buildings) can still be hard to beat.  It is also important to remember that, beyond the tax benefits and the long term appreciation opportunities, there are many intangible advantages when it comes to owning your own home.  Ultimately, speak with your realtor and your financial advisor to see whether real estate as an "investment" fits into your overall strategy.

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