Beth McCann

Lents, Portland  -  Announcing a price reduction on 4409 SE 107th Ave, a 1,185 sq. ft., 1 bath, 3 bdrm single story. Now MLS® $169,900 - .

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You've put a fresh coat of paint on the walls, decluttered the closets, and spruced up the yard. The only remaining hurdle before you put your home on the market will be to decide asking price with your agent. The key might be to think like a retailer.

Merchants understand better than anyone how buyers perceive value.  And there's a ton of evidence to prove that retail strategies pay off.

Round numbers, such as $290,000, convey an image of quality and prestige, but they may also be interpreted by buyers as inflexible pricing. On the other hand, an exact figure such as $289,863 makes a buyer think "deal".  If you're after a quick sale, go with the unique price.

If the competition is fierce in your area, you may also want to consider borrowing the retailer's "loss-leader" tactic (offering a desirable item at a very low price or at a loss for the purpose of attracting buyers). Putting in new sod and a backyard firepit may not boost your asking price, but it may very well get buyers through the door, the first goal of any successful sale.

Note that this information is outdated.

EVENTS SCHEDULE- SEPTEMBER 21, 2008 6:30 am Registration Opens (SW Naito & Taylor) 7:30 am Competitive Chip Timed 5K RUN 7:45 am Untimed Co-ed 5K RUN 8:00 am 1-mile Family Walk 8:45 am Untimed Women's 5K RUN 9:00 am 5K Walk Ongoing: Race Entertainment at the main stage featuring Swingline Cubs. More information: www.komenoregon.org

When/Where: SW Naito and Taylor, Waterfront

1. Not serious about selling. Actions speak louder than words in this market. Discretionary sellers should wait for a less competitive enviroment.
2. Improper pricing. A home properly priced is half sold.  No amount of full color ads, glossy flyers, multiple photos, virtual tour or agent lucheons will compensate for the wrong, timid retail price.
3. Not listening to your agent. Attorneys believe if you represt yourself, you have a fool for a client.  Doctors don't self-diagnose.  Professionals use professionals. Even though most people believe they are experts on raising kids and real estate; full-time, career pros usually know what's best.  Listen very carefully.
4. Micromanage the marketing.  Just because you sold cookware in college or you had a real estate license years ago does not qualify you to second-guess your agent.  Share your concerns and timelines, but leave the details to the listing pro.
5. Don't stage the property.  Someday shag muti-colored carpeting will come back.  Whitewashed cabinets, Navajo white walls, linoleum flooring, southwest decor, lots of personal photos and Elvis paintings on black velvet should be removed.
6. Let Fido run loose. Recently, I entered a house and two frisky, friendly black labs ran to sniff me. Unfortunitly, I had light grey dress pants on that day.  Both wet stains lasted for hours.
7. Talk to the buyers.  Life gets lonely at times.  Why not ask the buyers where they grew up?  Or how much they qualify for.  Tell them about the vacant rental next door. Or, the sex offender who left the neighborhood.
8. Sell personal items. Wow, maybe the buyers want to buy the patio furniture, rotary lawnmower or the life size statue of Saint Anthony.  Why not ask for a donation for the March of Dimes, the Humane Society or the local PBS station? Remember the saying, "loose lips sink ships?"
9. What's that smell?  My house doesn't smell of pet odors, baby diapers, curry powder, garlic, fried fish, or cigars.  The buyer must be confusing my castle with a track home.
10. Avoid feedback. What do buyers know anyway? Imagine the fact they don't appreciate my barbed wire fence, heavy duty rebar, backyard bomb shelter, airport runway views, light from the power plant, hum from high voltage line, railroad trmors, termite mud tubes and pet snakes.

When you've decided to sell, I will be your advocate, your guide, and your fierce negotiator.  I will wok hard to make yours a great sale.

*Parts of the above article was taken from an article published in the Broker Agent News

With nearly twice as many homes on the market this year as compared to this time last year, it’s more important than ever to make home repairs. Spiff up the kitchen and bathrooms, paint walls with neutral colors, spruce up the yard, and consider other improvements.

In an uncertain market, a little extra work can mean not only a smoother sale or a higher listing price, but whether sellers get to the closing table at all.

Some of the most effective improvements aren’t very expensive.  If you are thinking of putting your home on the market consider these five areas of improvements.

1. First Impressions

You want to make a good impression from the moment potential buyers pull up to the house.  First glimpse will include the home’s exterior, the shrubbery, the gutters and the front door.

2. Neutralize and de-clutter

When it comes to preparing a home’s interior, go with neutral colors. Neutral colors including beige and ivory have the added advantage of making a room appear larger.

Removing the home’s clutter is also extremely important.  Consider renting a storage unit to put some of your things in until you move or have a garage sell to get rid of the things you don’t need or use.  Again, the added advantage is the rooms look bigger.

Beyond that, do some spring cleaning: Shampoo the carpets, shine the hardwoods, clean the cabinetry, etc.

3. Consider replacement projects

You might want to think about getting a home inspection before listing, one is going to be done either way, why not take care of those repairs in advance instead of it becoming another bargaining tool for the buyer.

4. Kitchen and bathrooms updating.

Buyers tend to be awed by updated kitchens and bathrooms. If kitchen cabinets are structurally sound but the exterior looks old and dated, it might be worth it to reface them.  If counters are old, replacing them can add new life to the room. If the bathtub in the bathroom is chipped or damage, considering replacing it.

5. Warranty Coverage and documentation

A home warranty can be an advantage to both the seller and the buyer.  Most warranties cover the seller while the home is being marketed. This saves the seller from unexpected breakdowns of covered appliances, plumbing, heating and electrical. It provides a peace of mind to the buyer should the buyer run into those same unexpected repairs after closing.

If you’ve done replacement projects in the past few years, find the documentation to prove it. And if any of those projects cut energy cost make that known as well.