Smart Moves

Given the advancing economic recovery and mortgage rates that remain favorable, home sales in most neighborhoods continue to be strong. But there are always "outliers" -- places where the market is slowing due to special factors, like layoffs announced by a nearby employer.

"Because all real estate is ultimately local, you'll always have housing markets that move contrary to the rest of the nation," says Michael Connerly, a real estate analyst and author of "How to Win With Real Estate."

A slow market can be discouraging for homeowners planning to sell an extra-fancy, upscale home for which they'd hoped to get a premium price. But even in a weak market, Connerly says it's possible for a one-of-a-kind showplace with exquisite features to fetch a fair price.

What characteristics set showplace homes apart? As Connerly says, these are typically spacious properties in the top 5 percent of the value spectrum for their area. Many have Old-World charm and such features as ornate moldings, built-in cabinetry, exposed beams and floor-to-ceiling windows.

Here are a few pointers for showplace sellers:

-- Don't bank on an excessive price premium.

Dorcas Helfant, a former president of the National Association of Realtors (www.realtor.org) cautions against attaching too high a premium when pricing your showplace --particularly in a slow neighborhood market.

"I wouldn't go more than 3 to 5 percent over other homes of the same size in your community, even ones that don't show nearly as well," Helfant says.

As Connerly stresses, sellers who ask too much at the outset of a listing often pay a large penalty later if their property sits unsold for a lengthy period and the price must be dropped to draw buyers back.

-- Choose a listing agent with a sharp eye.

Buyers are always influenced by the appearance of a home, particularly how it looks from the street view. This is where a showplace can especially shine.

As Helfant says, "People who have a spectacular house have all the more reason to show it off through excellent visuals," such as photos for print advertising and video for online listings, including the online "virtual tours" that are now a popular marketing tool.

-- Request a neighborhood-wide open house.

When it comes to run-of-the-mill residences, real estate specialists often downplay open houses as a means for attracting serious buyers.

Still, Helfant says there's a way to enhance the impact of an open house conducted for a showplace: encourage other nearby sellers to hold open houses on the same afternoon, thereby increasing the potential draw.

"The more homes that are open, the greater the chance that serious prospects will come by, with or without their agents," she says.

As Helfant says, a neighborhood-wide open house can be especially beneficial for the sellers of a showplace. That's because buyers who visit multiple open houses in the same area can easily compare all the places they see.

"Go ahead and encourage buyers to see your competition. A beautiful house that's staged to sell will outshine all the others during a mega open house," she says.

-- Don't postpone moving plans due to a weak market.

Many owners of showplace homes are resistant to letting go of a beloved property, even if they have a good reason. And some even cancel their plans to sell soon after their place hits the market.

For example, Connerly tells the true story of a couple in their 50s who owned a handsome Edwardian-era property. Their plan had been to buy a waterfront place where they could one day retire. But within days of their place going on the market, they called their agent to withdraw the listing.

"Their 18-year-old daughter had become hysterical about losing the house where she'd grown up," Connerly recalls.

Tom Early, a longtime real estate broker who was twice president of the National Association of Exclusive Buyer Agents (www.naeba.org) encourages sellers with second thoughts to remember the larger picture, taking into account the personal and financial implications of postponing a sale.

"Life isn't a dress rehearsal. If your dream after selling your showplace is to change your lifestyle for the better, then postponing a move could translate to quite a sacrifice in your happiness," Early says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

Because he's facing both financial woes and multiple maladies, a semi-retired consultant in his 60s badly needs to sell his suburban cottage. But although his place is located in a popular neighborhood served by top-notch public schools, he was recently rebuffed by an agent who refused to take his listing.

The problem is the consultant's resistance to taking even minimal steps to make his place presentable, such as basic cleaning and clutter clearing. That, coupled with the man's deferred maintenance and overgrown yard, convinced this agent the property wouldn't be saleable in its current condition.

"Sometimes, real estate people simply have to turn down potential clients who reject reason when it comes to getting their house ready for sale," says Sid Davis, a real estate broker and author of "A Survival Guide to Selling a Home."

"These days most buyers ... can't afford to take on substantial home renovation projects," Davis says.

But spending a lot of money on a crash program to upgrade a property in extremely poor condition isn't always the wisest course. If the problems are serious, those who invest too much typically can't recoup their outlays at the closing table.

"Focus your spending on your highest-priority projects, like cosmetic fixes to your kitchen and bathrooms and essential repairs, like plumbing or electrical problems. Also, paint your property and make your front entrance beautiful," says Ashley Richardson, a veteran real estate agent affiliated with the Council of Residential Specialists (www.crs.com ).

Here are a few other pointers for sellers:

-- Seek out a seasoned agent for guidance.

Although our consultant was rejected by the one agent he called in to look at his property, Richardson says that he should continue to search for someone who can advise him on how to make his place market-worthy.

Eric Tyson, a personal finance expert and co-author of "House Selling for Dummies," says not all agents are created equal.

"What you want is someone who will help you develop a strategic, step-by-step plan that works within your budget, however limited. And then you have to be open-minded about the necessary changes," Tyson says.

As he says, some agents will even step into the role of project manager, helping you find contractors willing to take on small jobs for reasonable prices.

"It could be a waste of money to pour your limited funds into a full kitchen renovation, including the installation of expensive new cabinets. But it might be worth the cash to paint your cabinets in a high-gloss white paint," Tyson says.

As the first step in the agent-selection process, Richardson suggests you interview three candidates, asking each to critique your home and itemize cost-effective steps to make it more saleable.

"Look for someone who makes eye contact with you and who you can trust to give you a straight analysis," she says.

-- Look for help to de-junk your property efficiently.

Richardson says that sellers who can't handle the often intensive work of prepping a house for sale themselves should ask family members and friends to assist. But what if no volunteers step forward? In such cases, Richardson suggests that owners may wish to hire students or others looking for temporary, part-time work.

"Post a classified ad that seeks assistance 'pre-packing for a move.' And don't forget to check background references before you arrange for any stranger to come over to your house," she says.

Richardson recommends you delegate to the person you hire a series of manageable tasks.

"Tell them, for instance, to pack up the contents of your kitchen cabinets, a heavily loaded bookshelf and your bathroom countertops. All these items, most of which you won't miss, can be packed in your garage in neat stacks," Richardson says.

-- Give potential buyers help to picture your home's possibilities.

If the house you're attempting to sell is run-down, the odds are you don't have enough money for major improvements. Even so, Richardson says it's critically important that you make your place at attractive as possible.

"You won't get buyers out to see your home in person unless it can pass the 'online photo test.' Everyone is now pre-screening property on their smartphone or computer," she says.

In addition to packing away clutter, you'll want to cart out any furnishings or draperies that make your place seem drab or tired. These could be replaced with items borrowed from your agent.

"Realtors sometimes keep a stock of a few good furnishings, including lamps, area rugs and paintings, that you can use during the showing period," Richardson says. In addition, she says the owners of an "as is" home should give to visitors contractors' estimates for necessary fixes.

"Homebuyers routinely overestimate the cost of home improvement projects. You can help them to calculate the likely costs they'd face if they bought your fixer-upper," Richardson says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

Does your life involve a demanding boss, kids who must be pressed on homework and a spouse who travels a lot on business? Beyond all that, are you also planning to sell your house in the near future?

If so, Neen James, a time management expert and author of "Folding Time: How to Achieve Twice as Much in Half the Time," says it's understandable if you feel overwhelmed by the house project. After all, preparation for a home sale inevitably involves -- among other steps -- many hours sorting through such belongings as kitchen gadgets, excess shoes and boxes of books.

Due to scarcity of free time, she says many homeowners need a strategic plan to accomplish all the must-do tasks necessary to make their place saleable. These can include cleaning, organizing and culling through a large volume of excess accumulations in closets, drawers and stash areas, such as garages.

"In the U.S., many people have so much stuff in their garage that they can't even put cars in there," says James, a native Australian who contends that clutter problems are less pervasive in her home country.

Here are a few tips for home sellers:

-- Reduce the huge home sale project into small pieces.

Frantic people trying to tackle all that's involved in preparing for a home sale, or any other sizeable project, would do well to break their work down into 15-minute increments of uninterrupted time, James says.

"You can get a lot done in 15-minute slots. Actually, I'm convinced you can conquer the world in 15-minute segments," she says.

Suppose, for instance, that your bookshelves are bulging with excess volumes, including many you've already read. In just 15 spare minutes, for example, you could clear through a single shelf that contains your cookbooks. Then when time allows later, you could tackle other shelves that hold novels or a collection of art books.

James suggests that in between 15-minute work sprints you take small breaks to help keep up momentum. These could involve a brief jog outside or a quick cup of coffee.

"Just be sure that on your break you don't eat a ton of sugar or other simple carbs that could lead to an energy slump later," she says.

-- Make sure you set strategy before tackling your home preparation project.

Peter Turla, a former rocket scientist who now conducts time management seminars for employee groups, says that anyone who needs to prepare a property for sale should start with an action plan.

"You don't have time to not plan," he attests, adding that planning at the front end reduces the need for backtracking as a project progresses.

Stefanie Coleman, who's taught time management and productivity seminars for more than a decade, says that project planning should be done in several stages. The first involves brainstorming and then itemizing all the possible tasks that could help move you toward your final goal -- a process called "mind dumping."

Second, revisit your list, crossing out steps that sound impractical and highlighting those that will have the most impact.

Third, put all the remaining items on your list in order by priority.

Your fourth and final step involves scheduling -- entering all the key tasks for your project on your calendar to be done within time periods when you expect to be free of other commitments.

-- Avoid overscheduling your time.

Though Coleman underscores the importance of entering all your steps on a calendar, she cautions against scheduling your time too tightly.

"Often there are unplanned intrusions -- like a sick child ... on the same day you'd planned to reorganize your kitchen cabinets," Coleman says.

To allow for unplanned interruptions, she urges home sellers to allow an extra 20 percent cushion for unscheduled time. For example, suppose that one Saturday you hope to spend 10 hours cleaning out your garage. In that case, Coleman suggests you schedule just eight hours of work, allowing a couple of hours to deal with the unexpected.

-- Seek out a support person.

Many busy people who could afford to hire a professional organizer decline to do so, James says. Still, she says it's often smart to seek an organizer's help when confronting a major project. (One source for referrals is the National Association of Professional Organizers, www.napo.net.)

If your finances are too tight to pay for a professional organizer, James suggests you barter for services with a friend or relative. For instance, you could trade baby-sitting for help sorting through your clothes.

As James says, getting outside help with home chores hastens the pace at which you should be able to sift through your belongings. That's because someone not living in your place can look at your accumulations with fresh eyes.

"With an outsider there to keep you on track, you'll make quicker decisions on what to keep, give to charity or toss in the trash can," she says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)