ST. PAUL, Minn. – Home sellers in the Twin Cities are looking to cash in with housing inventory at a historic low.
Karl Reichensperger recently put his condo on the market. For 13 years, he’s loved his home in St. Paul’s Summit Hill Neighborhood, but now he’s hoping to make the next step into a single-family house.
“What I’m looking for from a single-family home, is probably, maybe about 300 to 500 more square feet,” says Reichensperger.
But to make the most of this seller’s market, Reichensperger needs to follow a sort of seller’s checklist. And according to the experts, topping the list is freshening up the paint.
“You just want the paint to be fresh and look good,” said Chris Galler with the Association of Minnesota Realtors.
A brand new kitchen or remod in another part of the house isn't always necessary. (Photo: KARE 11)
Experts also say there’s no need to take on big projects when you’re trying to sell your home.
“I don’t know that, at least in the short term, that you’re going to get a lot of that money back,” said Herb Tousley, Director of the Real Estate program at the University of St. Thomas, when referring to big kitchen and bath remodels.
Cleaning and decluttering your home is a must. Clutter takes up space and buyers are lured to homes that have a lot of room.
Landscaping matters when it comes to selling a home. (Photo: KARE 11)
It’s not just the inside of the house, experts say your landscaping matters too.
“They want to make sure the hedges are clean and the grass is mowed,” Galler said.
Professional photography will also pay off. Reichensperger’s realtor Charlie Braman with The Braman Brothers, Coldwell Banker Burnet, called that a crucial step for tech-savvy buyers.
“If something doesn’t show up well online, they’re just going to move right past it,” Braman said.
Two other less “practical” suggestions: have a “Plan B,” if your house sells faster than expected in a seller’s market. And Galler adds that when it comes to offers, the best offer may not always be the highest offer.
“It’s not money until it’s in your hand,” said Galler. “And if you have a cash buyer or one that’s been approved for financing is much better than one that’s just starting to go down that road.”