Take your time and view the stats on Open Houses nationwide below. It is not pretty for Open House advocates. Prospective buyers get the majority of their information is from the Internet. Yet, there is a push by sellers and to be honest some REALTORS to still use this older form of marketing.
I believe Open Houses are good for REALTORS for making contacts within the community or converting prospective buyers into clients. However, I just do not see the Open House's worth in "selling" the home. Simply put; the best form of "selling" the home is with an online presence (i.e. Realtor.com, Multiple Listing System) with lots of pictures so people can dream.
Open Houses have the "feel" of doing; creating action instead of sitting by waiting for the buyer to come. Let's throw away that old perception. Let's create a new perception of the Open House – online. An open house held 24-7, seven days a week with thousands of people "walking" through.
Let's change the perception of a REALTOR from someone actively selling the home and pulling in buyers to someone who is a reliable resource. Think about the above presentation the next time that anxiety and fear grips you. Finding a buyer is unfortunately not cut and dried. It is more than holding an Open House. It is physically taking interested buyers to see the home.
A major question that is on every one's mind, whether new home buyer or veteran home owner is should I remodel? Now if you are looking at this from the stand point of, "I'm living here and I will be here for at least another 5 years…" Go ahead and do it. Be cognitive that you will probably to resell the property eventually; so act cautiously.
However, if you feel home improvement is going to get you the price you want on the home; that is a different
motivation entirely. Remodeling Cost vs Value 2010-2011 from Remodeling Magazine leaves me with the impression that you could be gambling and loosing especially if there is a considerable balance left on your mortgage.
Now, if you inherit a home and owe nothing toward it and are looking to do a few renovations for resale; this may be a viable option to you in order to gain the best price for the property.
It all depends upon your situation, your needs, and your reasons for the project. Think about it carefully and consider your options. Don't look at renovation as an end to a means. If that is the case, you will lose.
A common question I get asked by homeowners is should I move up right now?
Tempting, I know; very tempting especially with the prices of homes right now. Moving up is such a temptation for many in this current market.
However, you should ask this question to yourself and answer honestly:
"Is the timing right for me, my family, and my situation?"
Do you have 10-20% in cash to put down on a home? Cash is king. Having that amount not tied up in equity allows you to move more quickly and more efficiently on homes. You will be a **star** buyer and have the world at your feet.
Are you willing to sell your current home? Meaning at whatever cost or whatever it takes to find that buyer? If you are not a motivated seller then forget about moving up.
Sirens have sung before and it was more about the Interest Only Loans, the 0% Down Loans, and what you can get for Little to Nothing. Look where we are now. We have had a major bubble burst on the Real Estate market. Take caution. Be conservative. Get to a spot that you have the ability to have the World as your oyster.
Do what is right for you, your family, and your situation. Do NOT do what everyone else says you should do because of the environment.