The Barrie & Simcoe County area real estate market has been red hot this year. Traditionally the spring market is very strong and we typically see sales drop off in the summer months before it picks up steam again in the fall. This year, however, we are witnessing record sales numbers across the board coupled with healthy, sustainable price increases.

If you are contemplating selling your home this is an ideal time to take advantage of the vibrant real estate market in the Barrie and Simcoe County area.

The question is how do you maximize your ability to get top dollars for your home!

There are many factors to consider.

Let's start with the condition of your home. It is important to create a positive first impression for potential buyers. The prospective purchaser will be looking at several homes and you want your home to stand out in the eyes of the buyer. If your home requires a little "tender loving care" the question is what expenditures will yield the best return on you investment and in turn help you sell your home in the quickest time frame.

Let's start with the least expensive items. If your home needs a fresh coat of paint, this is relatively inexpensive and creates a favourable impression. Consequently, if required, I would recommend my clients undertake this project. As a rule of thumb, try as much as possible to employ neutral colours which will appeal to the masses. If your carpets are showing signs of wear and tear you may consider either: a) steam cleaning or b) replacement of the carpet. Option B is obviously more expensive and it would be advisable to discuss this issue with your realtor who will assess the costs/benefits of both options.

In many cases, a home just requires a small "face lift" such as painting and carpet cleaning and it can bee transformed into an eye catching property.

How about other possible expenditures?? As a rule of thumb, you don't want to engage in a lot of renovations that will be costly and may not bring back the dollars spent. If, however, you are thinking of improvements - remember kitchens and bathrooms are always considered important in the eyes of the buyer. If these rooms are "tired" and showings signs of wear and tear you may wish to consult your realtor to discuss the viability of making such improvements.

If it isn't financially feasible to spend as much as you would like on your home, then my recommendation would be to price your home factoring in the work that may be required.

This leads us to the next critical step which is pricing your home. This is a very important step for you as an owner.

Your realtor will review with you the available properties in your immediate area, the recent sales and any expired listings. Adjustments will be made for any differences such as finished basements, condition, etc. Ultimately you and your realtor will derive a market value price for your home. (At this point, Vendors will either be very happy to find out what their home is worth or may be disappointed believing their home is worth much more!)

When marketing your home, you typically want to build an allowance of 3% - 5% for negotiations. In today's strong market, Vendors can be a little more ambitious with pricing but be careful not to price yourself out of the market.

The first two weeks of a listing is the most critical time period when selling your home. During this time, it is thought of by both Realtors and buyers as a hot, new listing and you want to capitalize on this excitement. If too much time passes, then the listing can become stale and the buyers will question why the property hasn't sold?! During the early part of the listing, buyers will be most willing to pay you close to your offering price. If your home has been on the market for an extended period of time, buyers will be inclined to offer you less money.

The acid test regarding pricing is if you are getting a sufficient number of people through the door. If showings are brisk then this is a positive sign. If activity is slow(er) and the market in general is strong than this may suggest that the price needs to be adjusted.

Once your home is on the market, try as much as possible to make your home available for showings or inspections. If your home is difficult to view than it hinders the saleability of your home. That one missed showing could have been the buyer for your home.

When your home is being shown create a positive impression by turning on all the lights, refrain from cooking foods that have heavy odors and try to make yourself scarce during the showing so that the prospective buyer and their realtor can look and talk more freely about your home.

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