Tips to sell your home in today's tough market.

You can't listen to the news, or read the paper without hearing about the state of the economy and the current real estate market. Home values have seen record drops as high as 30% in value in the last three years since the Great Recession began. Many people find themselves "underwater" with their current mortgage.

With the high rate of foreclosures that are saturating an already oversaturated market. Many people are finding it difficult to sell their home. These next few tips are no guarantee that your house will sell immediately, but they will help you gain more "foot traffic" and help to place your home in a much more competitive and marketable position.

CLEAN, CLEAR, and CLUTTER-FREE - This may seem like a no-brainer to most, however you would be surprised at the number of homes I have toured that the sellers had not even bothered to do the basic vacuuming and dusting.

You only have one time to make a first impression and if a home buyer walks in and thinks the house is dirty, you have already lost the sell. Vacuuming and dusting is a must, but you also want to take the time to dust the places that you don't do on a regular basis (i.e. ceiling fans, base boards, even the ceiling themselves).

Also, take the time to wipe down windows inside and out, as well as the fronts of all appliances, especially if you have children or pets. Home buyers don't want to see paw prints or little finger prints everywhere.

Clear the rooms of any unnecessary items and furniture. You want each room to be well defined but not over-powering. You don't want the buyer to be confused about what the room is used for (i.e. is it a bedroom, office, dining room, etc...)

Clutter is the biggest eye-sore in a home showing. A home buyer doesn't want to see all your little knick-knacks or family mementos. They want to be able to picture themselves there, not see what you did on your family vacation. Take all the pictures and magnets off of the refrigerator and pick up all the toys.

 For the home seller that has pets, you want to appear pet free. This means that you want to make sure to vacuum up all the pet hair off the floors and furniture and use a pet-odor carpet freshener. You may not think your home smells like a dog kennel, but to an outside buyer without pets any hint of a pet can be an immediate turnoff. This means putting away the food and water dish and all of the toys. 

Also, if at all possible, have your pets out of the house during a showing or open house. Take them to the park, or have a friend pet sit. Nothing is worse then touring a home and having a dog bark the entire time your there. Not only is it extremely annoying, but it is also a distraction. A home buyer can't focus on the open floor plan, or the large eat-in kitchen because they are too busy plugging their ears and rushing through the house to get away from the noise.

Neutral may be boring, but in real estate it can be your best friend. If you are replacing the carpet or refreshing the interior paint, tone it down. Bright colors might seem eye-catching, but most buyers want neutral tones. This doesn't mean boring beige. Neutral tones come in all shades (i.e. muted greens, grays, browns, blues, etc...) so you can still be creative while appealing to a larger audience.

Mow the yard and rake the leaves. Take a minute to weed the flower beds. Pay $20 and throw down some weed and feed. The first impression of a house is in two parts, one is when the first walk into the house, but the other is when they first pull up. You don't need to have ornate landscaping to entice a buyer, but you don't want have an overgrown or unkept lawn as the first thing they see. If you take pride in the ownership of your home, a buyer is going to see that.

Know what your home is worth in today's market. This does not mean what your home is worth to you. Most home sellers cannot separate themselves from the attachment to their home to be objective enough to set a fair price. Do the research or get some estimates from local realtors that are familiar with the area. Check out what homes have sold for in your area and compare them based on square footage, # of rooms, size, and upgrades with your own. You are not going to get top dollar for your home and the sooner you come to terms with that, the sooner you can set a competitive price.

It may also be worth it to obtain an appraisal or appraisals from your local bank(s). You may find a buyer willing to pay the price that you want, but unless they can pay cash, you will need the bank to appraise your home for what you are selling for. Many contracts having fallen through because the home appraised for less than the agreed upon selling price. In this case the buyer would have to come up with the difference and even in the best of markets, a home buyer isn't going to be willing to pay more for a home than what it is appraised for.

  Most analysts will agree that the housing market has bottomed out, so there is hope in knowing that it's only going to get better from here. Stay positive, use these tips and be educated about the emerging market, and you will find yourself in a better position to sell your home.