As I'm sure most of you are aware, we experienced a slowdown in the market this past year. After the homebuyer tax credits expired last April, the rate of sales decreased significantly.  In order to compete for a limited number of buyers, sellers had to reduce their prices aggressively.

Fortunately, activity has picked up substantially in the past two months, and we are expecting a busy spring selling season.  While this is welcome news for those of you planning on selling your home this year, sellers still need to compete for buyers that have become more finicky and value-conscious.

Always remember this one basic fact:  Selling a home is all about the price!  While we all value our homes more highly than those of others, buyers see it from their own perspective as they comparison shop with their hard-earned money.  Homes priced above their market value are passed over by buyers, who rarely even bother to put in an offer on a home that is more than 10% above the market price.

So what can sellers do to compete?  Homes that are in better condition command higher prices, and those in excellent, or "turnkey" condition fetch premium prices.  Here I lay out a roadmap for you to improve the value of your home, no matter what your budget, time constraints, and energy level.

Let's start with the fundamentals.  The number one thing that will destroy your home's value is water intrusion, followed a close second by termites.  A good, inexpensive first step is to have a structural pest inspection done on your home, at a cost of $200-$275, depending on the company you choose.  Their report will give you an overview of the condition of your entire home, as well as a cost estimate for the repairs.

Items that typically need attention occur in areas of potential water intrusion such as the roof, gutters and downspouts, around windows, the foundation perimeter, and under the house.  To fix these problems, first eliminate the source of water intrusion, and then replace wood that has been damaged due to the dry rot that results when wood-destroying fungi feed on the wood under wet conditions.  Special attention should be paid to any exterior wood-after repairing all dry rot, decks should be power-washed, stained, and sealed to prevent further damage by water and sun.

Once you've covered these basics, it's time to evaluate what else you might do through minor to substantial renovation and updating.  The homes that command premium prices are those with a good layout, indoor/outdoor connection from the kitchen, living, and dining areas out to patios or decks via French or sliding doors, living space opened up to kitchen and dining spaces, and updated kitchens and baths.

Other areas to focus on are increasing the amount of clean, dry, easily-accessible storage space, clearing away vegetation and creating a low-maintenance garden and landscaping, and upgrading older plumbing, electrical, hot water, and heating systems to modern codes and standards.  Also consider replacing old appliances with new, energy-efficient ones.

Finally, repair or replace everything in the house that does not work or looks outdated-that stuck window or door, a faulty appliance, a bad electrical outlet, an old light fixture, a leaking faucet, or anything else that might put a buyer off.