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Real Estate News and Advice |
November 11, 2009 |
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Tips for Showing Your Condo, Townhouse
by Michele Dawson
Condos and townhouses are selling like never before, with prices in various parts of the country breaking records. If you're thinking of selling, now's a great time to cash in and move up. In order to receive top dollar, you'll want to show your home to look its best. The National Association of Realtors recently reported that condo and co-op sales sales in 2002 rose 10.5 percent above what had been the record in 2001 - and they're appreciating faster than single-family homes. The median price of an existing condo in 2002 was $137,100. Records are being broken regionally, too. "... the average price for condos and townhouses rose to a record $195,788," said Harris Reiter, who sells real estate in Golden, Colo., earlier this month "Appreciation has been relatively flat with a greater number of properties on the market compared to this time last year. In all price ranges, the perfect homes are moving quickly." The same trend is being seen in other parts of the country as well. "Townhomes and condominiums are the hottest market segment with detached homes in third place," said David Rathgeber, an agent in McLean, Va. So, if you've decided that now is the time to sell, you'll want to take the time to properly prepare your condo to show to potential buyers. When it comes to regular, detached houses, first impressions and curb appeal are everything. With a condo or townhouse, first impressions are still important, but curb appeal comes more with the overall look of the development and how well it's maintained - something normally controlled by the homeowners' association. And because you'll have less control over the curb appeal, it's even more important to impress would-be buyers once they open the door to the condo or townhouse. One of the first things to do is to light up the house, buying additional lamps if you need to. Because many townhouses and condos share walls, there are two walls without windows - and less light, making many rooms seem dark. Interior designer Rosemary Sadez Friedmann says that if a room is too small, visually push one wall open by washing it with light; and if a room is too wide, illuminate the narrow ends of the room. Conversely, if a room is too narrow, illuminate the wide sides of the room. Other things to do include: And finally, set a competitive price without getting greedy. Even if condo sales are brisk in your area, don't fix your price too high; if you do, offers probably won't come your way. An agent can help you with a market analysis to establish a realistic price to help you yield every penny your townhouse or condo is worth. Published: April 21, 2003 Use of this article without permission is a violation of federal copyright laws. Related Articles: |
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