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The Honolulu Advertiser
Posted on: Friday, December 8, 2006

Savvy owners can make fast sale

By Margarita Bauza
Detroit Free Press

TIPS TO MAKE A QUICK SELL

Realtors and other market experts advise taking these steps to sell a house or condominium:

  • Price the home realistically. Remember, what was realistic two or three years ago isn't realistic today. That's especially true of higher-priced homes.

  • Clean the house thoroughly before each showing.

  • Fix all the little problems you've been putting off.

  • Be willing to bargain.

  • Offer some concessions to buyers. Common ones include paying part of the closing costs, or paying a moving or decorating allowance.

  • Be patient.

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    DETROIT — Tracey and Doug Stelkic's real estate agent told them a fast sale in this market would not happen in less than 60 days.

    So when the Chesterfield Township, Mich., couple received a call to view the house the day they put it up for sale, they thought it was a fluke.

    The next day, they had two offers, one for $500 more than the asking price of $249,900, the other for exactly the asking price. The house sold a week after they put it on the market.

    "I wasn't even prepared," Tracey said. "We were very happy, of course, and surprised."

    With the housing market slowing, sellers have to work harder than they did a few years ago to ensure a quick sale. Price plays a big role, but so do things like home renovations and being flexible with buyers.

    What the Stelkics did right is no mystery to them. They believe it was a combination of fair pricing, aggressive marketing and timing. The couple had recently painted the outside of the house, refinished the floors, stained the trim and updated the landscaping.

    The house, built in 1997, had many amenities: a brick exterior, 2,100 square feet of space, three bedrooms, a finished basement, an attached two-car garage, an in-ground pool and a six-person hot tub.

    Since the couple had already bought a house in a neighboring town, they didn't want to deal with having a house sit unsold and paying two mortgages.

    The Stelkics priced their home 3.5 percent lower than similar houses in the area and sweetened the deal for the buyer's agent. They offered a 5 percent commission to the agent — a typical commission is 3 percent — so he or she would push the house more aggressively.

    Before the sign even went up, the couple's agent, Hank Mendez of Realty Executives in Shelby Township, Mich., had posted the house on two Web sites and gotten the word out with e-mails and phone calls.

    Timing also played a key role.

    Buyers Jim and Heather Lewandowski, both 32, had been looking at houses for months. They had seen more than 40 homes, and nothing seemed quite right.

    They needed a bigger house where they could move Heather's mother, who has cancer and needs care. The night the Stelkics listed their house, the Lewandowskis' agent called Heather. There was no photo and no sign, but she agreed to see the home.

    As soon as she saw it, she knew the search was over.

    By the time she made a bid the next day, the Stelkics were already entertaining an offer.

    "I went home, baked a batch of cookies and wrote her a note asking her to please pick me," Heather said.

    The Stelkics did. The Lewandowskis closed on the house Oct. 30.