The Tribune

By MIKE LIGHTBOURN GETTING ready to place your home on the market? If it is in anything less than "like new" condition, you'll need a little reality check before you can determine a fair asking price. Since purchasers may arrange for an independent one anyway, you should strongly consider having an inspection performed by a reputable professional, such as a home inspector or building contractor, before you market your home. Why do it now, since the buyers may pay to do it later? Ask yourself if you like surprises! If repair issues are identified, you have time to decide whether to pay now for the improvements, or adjust your asking price accordingly. An old rule of thumb dictates that buyers will offer $2 less for every $1 in needed repairs, so make your decision with care. This is a great opportunity to take lemons and make some lemonade! Don't ignore major repairs that can boost your home's value and desirability. If your home is marketed while in need of a new roof, for example, you've got a real liability and challenging sales point. If you can afford to market your home with a brand new roof, suddenly you've got a great asset. Or be ready to negotiate down. Discover problems and implement solutions before you make your final pricing decision. To do otherwise simply invites unpleasant surprises and low offers. In this age of House Hunters and other widely viewed real estate programmes, you need to take proactive steps that assure your home's value stands out in the crowd. Mike Lightbourn is president of Coldwell Banker Lightbourn Realty