Real Estate Advice for Sellers and Buyers in Today's Market

I saw this clip on the Today Show last Thursday and I had to forward it to everyone I know. Selling a house in this market is tough but "Real Estate Guru" Barbara Corcoran makes some great points. Here are some highlights and a link to her clip. Let me know what you think...

Advice for Sellers:

• Sellers should intentionally underprice their home - Underprice what you think your home is worth by 10-15% if you REALLY want it to take off right from the starting post. You'll get a lot more people looking at your property, your home will look better by comparison to other homes in that price range, and it might even end up with a bidding war.
• Get rid of the clutter - Cluttered homes look small! Buyers typically want to get the most space for their dollar.
• Take pictures of your home on a sunny day and with a wide angle lens - Makes your house look like the Taj Majal and your yard a football field.
• Hire a Killer Broker - Barbara pointed out that 20% of the realtors in this country produce 80% of the income. Translation: you want to hire a "Killer Broker" when you're looking for someone to represent you if you want the best outcome.

Advice for Buyers

• Pick the right town - Barbara's definition- great schools, a charming downtown, and less than one house for sale per three blocks...In her words, "Don't buy a clunker town"
• Buy a House with Character - Old moldings, high ceilings, climbing roses....etc. etc. "People like to buy a storybook house, so if you're house looks like a storybook house, you're going to get the best price always in any market"
Here's the link address if you can't click on it above: Recession Proof Your Home - from the Today Show June 12, 2008 Here's the address if the link above doesn't work for you. http://www.msnbc.msn.com/id/21134540/vp/25113929#25113929