Q & A with Dottie Herman

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Q1 - There are a number of houses for sale on my block- most of them are exactly the same model house, and have all been updated around the same time. What are some things I can do to make mine stand out to the buyers since I am sure they are seeing all of these homes.

A - Aim for your home to have a distinct look. A commonly used phrase for this is 'curb appeal.' When buyers pull up to your house, it would be ideal if your home stood out right away.  It could be simple touches such as ensuring the grass is freshly trimmed, to more elaborate work with plants and greenery. On the interior, you should make sure your home is free of clutter and that a buyer could walk through each room without having furniture in their way. I have found that simple touches like flowers in the living room can go a long way.  The challenge you face is to make your home the more memorable one, which will bring more offers to you. These basic tips should help. Good luck! 

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Q2 - I am trying to sell my home and some friends of mine are giving me pointers on some updates to make before I sell. I want to re-do my kitchen, however, what if I do it and the buyers do not like it? Is there a way to give an allowance to the buyer to re-do the kitchen so this way they can make it the way they want it to look

A - This is always a hotly debated topic among sellers. If you renovate the kitchen to your taste and not to the taste of your buyer, you won't recapture the investment you placed in that kitchen (since the buyer won't put much value into it). The easiest way to solve this issue is to reflect it in your asking price.  By reducing the price to reflect the outdated kitchen you may end up attracting more buyers. Even though the home may sell for less, your net would be higher since you didn't make the financial investment into the kitchen renovation. If you opt to make alternations in the kitchen, I recommend you keep it simple.  Make it nice enough to have broad appeal to buyers, but not too nice that it becomes intended for a specific buyer.

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Q3 - I am moving to NYC from Los Angeles and I haven't been to NYC in years. I want to purchase something but I have no idea where in the city I should look. My office is located in Midtown West and I am just uncertain how to move forward. Would I be able to get a short term rental until I was able to explore some of the neighborhoods? Should I make a trip out there before I move and get myself acquainted with some areas?

A - Purchasing a home is an important financial investment. Before doing so it is a good idea to be comfortable with a particular building and neighborhood. It sounds like you have a smart plan - find a rental unit, explore the neighborhood and the city-at-large and then move forward with your purchase. Short-term rentals can be found; there are even some companies that specialize in short term corporate housing. I would be happy to recommend an experienced agent for you to work with once you arrive in town.

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Q4 - My house has been on the market for about a year and we have not had many offers. I am thinking of putting it on the market for rent, also as perhaps that will attract more people- is there a way to still have it listed for sale even if there is a tenant living there? Can the renter opt to not show the house to anyone interested?

A - I'm not sure what community you live in and what the local rules are for listing a home. You should check with your attorney to get a legal opinion on that.  However, I can tell you that if you home has been on the market for a year and you haven't had many offers, it may be time to consider reducing the price.  I have seen sellers resistant to doing so, and then find once they do, an array of buyers appear. 

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If you have a real estate question for Dottie, please send it to; Dottie@RealEstateChannel.com.
 
NOTE: Due to high volume of questions, not everyone can be answered, but she'll do her best.

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