Resale Homes ReportPreparing to sell begins long before residence hits the market

Q: Devin, I am thinking of selling my home but have heard so much about how difficult it currently is to sell and I am afraid it will just sit there.

Is there anything I could do to it to make it sell better or make it worth more? - Tiffany J., Las Vegas

A: The thing you must first decide on is whether you are actually ready to sell. Selling a home is an important matter and there should be a good reason to sell -- a job change, the need for more or less space or other lifestyle changes.

Keep in mind that your reason for selling can have an impact on your ability to negotiate, so it is extremely important to discuss your needs and wants with the Realtor who lists your home.

The process of selling a home typically starts several weeks, or even months, before a property is actually put on the market. It's necessary to look at a home through the eyes of a prospective buyer. They will see your home in a much different light than you see it.

Determine what needs to be cleaned, painted, repaired and tossed out. You want to present a home that looks good, maximizes space and attracts as many buyers as possible.

Next, determine if it is the right time to sell or if you should hold off. There tends to be more activity in the summer months as parents want to have their children enrolled in school before the beginning of the school year.

However, this does not necessarily mean that summer is the best time to sell. Markets, especially here in Southern Nevada, tend to have a balance between buyers and sellers year-round. That is, there may be fewer buyers in the market around the holidays, but there are also likely to be fewer homes available for purchase.

As far as value goes, home prices tend to rise or fall as a result of supply vs. demand, rather than the time of the year. What may be the most important factor is getting maximum exposure.

How do you improve your home's value?

In general, buyers seek the least expensive home in the best possible neighborhood that they can afford. So, in terms of making improvements, make sure it is in line with the rest of the neighborhood.

This is where the term "over-improved" comes into play. If similar homes in your neighborhood have three bedrooms, two baths and 2,000 square feet of living space, a property with five bedrooms and 3,000 square feet will probably be priced much higher and likely be more difficult to sell.

Improvements should be made so that the property shows well and remains consistent with the neighborhood. The last thing you want to do is put money into your home that you may not be able to get back out.

Obviously, cosmetic improvements such as paint, wallpaper and landscaping all help a home show better and are often good investments.

Mechanical repairs to the heating, cooling, electrical, plumbing and appliances should also be made. This will ensure that all systems and appliances are in good working condition, which may not only be required, but may be necessary to get a top price.

Ideally, you want to be sure that your property stands out while remaining competitive with other homes available in your community.

Your Realtor can not only assist you in staging your home for sale, but also in making sure that it is priced accordingly.

Devin Reiss is the president of the Greater Las Vegas Association of REALTORS? (GLVAR) and has worked in the real estate market for more than a decade. GLVAR has more than 17,500 members. To ask Reiss a question, e-mail him at ask@glvar.org. For more information, visit www.lasvegasrealtor.com.