S P E C I A L S E C T I O N : R E A L E S TAT E
8 SELLING: Ignore the housing market.
Don’t waste your time watching the housing market for the best
time to sell. According to Investopedia, “it doesn’t matter what
your home is worth at any given moment except the moment
when you sell it. Being able to choose when you sell your
home, rather than being forced to sell it due to job relocation or
financial distress, will be the biggest determinant of whether you
will see a solid profit from your investment.”
9 SELLING: Will renovating always increase
my resale value?
Make conscious decisions when renovating your home. While
newer will entice potential buyers, be cognizant of what rooms
you update and how you do it. While updated kitchens will
increase the value of your home, be sure to appeal to a wide
range of tastes. A good place to start is with the appliances.
Realtor.com states that homes with stainless steel appliances sell
15 percent faster than those without. Updated bathrooms are
easier to satisfy a wider range of buyers’ desires for luxury, but be
sure to keep the colors neutral.
10 SELLING: Don’t spend earnest money!
Many sellers make the mistake of depositing and spending
earnest money before closing day. If the transaction doesn’t go
through or the buyer pulls out due to repair issues, it is up to the
seller to return the cash. It is recommended to have a real estate
26 724.942.0940 TO ADVERTISE | Mars Area
agent or broker
hold the deposit.
Most buyers’
earnest money
will be held in an
escrow account
until the closing
day, allowing the
money to remain
untouched by
either party.
FUN FACT: Get the name and numbers.
Just when you think you’ve checked all the boxes for an easy sell
of your house, take a second look at your address. According to
Zillow, street names and house numbers matter! If you happen to
live at 666 Fanny Hands Lane, you may be out of luck (however
that particular street is in the United Kingdom, so you should be
safe). Innuendo-laden street names tend to not sell as quickly as
those like Thunder Road. American numerology says that 666
is bad luck and could decrease the value of your home by 2-3
percent. Also, steer clear of the number four, considered unlucky
in Chinese culture. Stick to the number eight, or include the
lucky digits 316 in your asking price!
Before entering the real estate market, educate yourself. The more
you know, the better your chances are for nailing down the home of
your dreams! n