This market is definitely changing. About 5 years ago we could stage a home, clean it up, price it correctly, market the home, and it would sell promptly. We were amidst a hot market and there was not enough inventory for a buyer to choose from. So as the saying goes “beggars could not be choosers” and this was great for sellers. 
About 3 years ago we saw the market getting soft. The prices of homes beganf dropping. Some homes outdated and need of a remodel could still be sold with a small incentive to the buyer. Sellers could offer a $5,000 decorating allowance, price the home slightly below fair market value and it would still sell. Buyers and investors were not afraid of a little updating or remodeling. Interest rates held around 5% and some believed these homes to be a great deal while there was still not a whole lot of inventory to choose from.
Now, the real estate market in Anchorage has definitely changed. We are seeing slightly outdated homes either not selling or having to price their home way below FMV in order to get the home sold. Buyers are rarely interested in decorating allowances while needing any funds the seller is willing to give up for their closing costs.
Our team’s suggestion for selling your home in the Anchorage market is this:
1) Remove wall paper and paint all rooms neutral. A white ceiling with tan walls works with almost any decor.
2) Any flooring that is badly worn, or outdated should be replaced. Again, remember color neutral whether it be carpet, laminate, wood, tile etc…Especially make sure your carpeted bathroom floors are removed and linoleum or tile is installed. No buyer likes old carpet on a bathroom floor.
3) Detail clean the home. This is not a quick vacuum and mop. A detailed home cleaning should be performed. I always recommend hiring a professional cleaning company as they will clean the spots a normal routine cleaning would normally miss, like ceiling fans, bathroom vents, baseboards, etc…(call me for suggestions if needed)
4) Stage the home and de-clutter. Become a minimalist, less is usually better. Your home will feel bigger and look more appealing to most buyers.
5) Price the home correctly. Make sure you are working with an experienced real estate professional and you price your home correctly. My suggestion is this; if you are not going to be in the top 10% of prettiest homes at your price point, you will have to be 5% less than the price of the average homes. Homes that are outdated, are simply not selling for a little less money, they are selling a lot less. So do the basics to protect your assets.
Remember these basic rules of thumb when getting ready to sell your outdated home in todays market… Paint, flooring, cleaning, staging, price correctly. You will save your self money, time, and the stress that goes along with not selling.
Please fill out our “contact us” page if I can provide any more information in simplifying this process for you.
