April 2009
The Today Show's "Top 5 Tips for Selling Today"

First of all, The Today Show reported the bad news that prices are down - not a big surprise to anyone. Then they mentioned the good news that transactions are improving as credit markets open up and buyers are taking advantage of the reduced prices.

In the meantime, your house is for sale and you want to get on with your life. So, you have to make a hard call -

1) Spend money to make less or
2) Do nothing, ride it out, and hope things will improve.

If you opt for Door #1, here are their 5 top tips.

1) Fix up the Front. Make your exterior look fresh and cared for. Mulch, trim the lawn, add window boxes - make your home look "Happy!"

2) Change the Main Entrance. Make the front door look attractive. Paint or stain and then put in some elbow grease and car wax and make it shine.

3) Replace Windows. Cheap, uncared for windows make the entire house look uncared for.

4) Move Laundry room to first floor. This may cost up to $5,000 but will be money well spent.

5) Buy a stainless steel refrigerator. Buyers will assume the whole kitchen has been updated.

They went on to elaborate on a variety of good and bad changes, reinforcing the principle that you should only make changes that will put money back in your pocket.

Smartest home fixes (percentage you will recoup)
- Replace the siding (84%)
- Add a wood deck (81%)
- Make minor kitchen updates (79%) such as replacing door fronts, countertop or backsplash
- Install new windows (77%)
- Move your laundry room from the basement to a first or second floor (75%)

Best cheap fixes
- Fix up the front yard
- Add crown moulding to the living room
- Change the main entrance
- Add a new kitchen window or French doors to make kitchen lighter/brighter and appear larger
- Replace an old fridge with a new stainless steel appliance
- Sand and refinish wood floors

Worst fixes
- Don’t get rid of any bedrooms
- Don’t convert a spare room to an office - leave it as a bedroom
- Don’t paint your house red - paint it white
- Don’t put in a swimming pool unless every home in your neighborhood has one