You Got WHAT for Your House?

Zillow.com, the real estate information site that just about everyone uses to check on their friends and neighbors’ property values, recently announced some dour news: U.S. house prices are on the downward trend once again. Yet you wouldn’t know that from the buzz around Eagle Rock. Lately, local Realtors have been celebrating house sale prices, not crying about them.

“All real estate trends can’t be judged by nationwide or even citywide statistics,” says Cherryl Weaver (hotLAneighborhoods.com) of RE/MAX. “Prices are on the rise in Eagle Rock. In fact, they were up about 4.5% from last year.” (Weaver says she based her estimated price rises of local house sales by comparing recorded sales listed in the Multiple Listing Service from March/April 2011 and March/April 2010).

Indeed, local Realtors have been applauding the recent sale of 2030 Estes Road (2030estes.com), which went for $175,000 over its asking $749,000 price for a final sale of about $925,000, and ranks as the highest selling house in 90041 so far this year.

How did this house pull such a staggering, well-above market deal while other lower-priced Eagle Rock houses have languished on the market for months? Simple, says Weaver: It had a whole lot going for it.

Like other top-selling houses in the neighborhood, 2030 Estes was a “truly unique home in mint condition. The home on Estes was a mid-century modern designed by  (notable architect) Richard R. Leitch. It was wonderfully decorated, in great condition. It felt like you were walking into a resort.”

For Realtor Tracy King (LAdigs.com) who sold the Estes house, the house’s irresistible appeal can be summed up in a few words: “Great house, ideal location and terrific setting, style and floor plan,” she says.

But let’s say your own house doesn’t have all of these factors going for it. If you’re looking to sell in this downward market you can still shine your home like a jewel and attract great bids. Here are some tips from King and Weaver for making your abode much more appealing than that foreclosure down the street, and ensuring you get top dollar.

1)   “Look at your house from the street and start cleaning, landscaping from the curb in,” suggest King, who adds that so much of the difference between a house that attracts top-dollar bids and one that gets lower bids is in the presentation.

“With foreclosures or short sales, the seller usually does the minimum possible to make the house look good,” offers Weaver. “Buyers respond to a home that looks like it has been neglected or unloved by paying less.” Pivotal message here: Make your house look adored and your buyer will respond with respect – and more money.

2) “Clean and de-clutter every obvious room in the house,” says King. Although, she adds, “Some storage in the garage and under the house is acceptable.”

3) De-personalize. Put away family photos and other intimate items that mark as house as yours. “When a home shows like a model, it is much easier to fall in love with it,” says Weaver. “The buyer will look at an immaculate, well-decorated home and imagine that this is what his or her life will be like living there.”

4) Decide what lifestyle you’re channeling: “I recently asked a home owner in what catalog they thought their house belonged, and they said Pottery Barn,” says Weaver. “So we got out the catalog and compared the pictures to rooms in their home. Sure enough, they then decided that their home needed some paint and de-cluttering to make it as beautiful as a Pottery Barn house. As a result of their efforts, so many people fell in love with the house. It sold in one week for 7 percent above asking price.”

5) Hire a professional stager to arrange your house so it shows in the best possible manner. “An hour or two of a stager’s time doesn’t cost a lot and this can help the sale of your house tremendously,” says King. “A good stager can give you a price list of what they can do for you. If you decide to go with a stager they bring in furniture and decorative items, which can be rented by the month.”  

6) Make your home available for showings as much as possible and plan not to be at the house when the buyers come in, says King. Also, you should remove from the property any pets, or at least safely confine them.

7) Last but not least, hire an expert to handle the sale of your house in the most professional manner possible. Ask neighbors and local friends for their recommendations and plan to interview at least three agents to find the right fit for you.