Shopping Around

That's a great tip. How else should you test a house?

Go with someone else, have them go upstairs and flush the toilet to see how noisy it is. In a buyer's market, you might be able to convince the builder to insulate the pipes. Go into the house next door; it's more typical of a builder's quality then the model house. Open and close every door and window; make sure they work. Listen to the dishwasher. You can even have someone mimic a treadmill for annoying vibrations. See how close your neighbors are. Can they see you in your new great master bath? I saw a house once that was built into a retaining wall so anyone could just walk up and look in your second-floor windows. And look at how close your front window to the sidewalk. Do your homework, now you have the time.

Any tips on selling your house before you buy a new one?

When it's a buyer’s market, you have to make the house you're selling more appealing. Go through it with a cold eye and take out some of the furniture and a lot of the stuff you've accumulated over the years--it'll make your house look bigger. Give it a fresh coat of paint, but be prepared for suspicious buyers that smell paint and think you're hiding leaky pipes. Hang pictures, get new drapes or window treatments. Talk to a savvy real-estate agent about your neighborhood and what's selling. Maybe you need to invest in granite countertops or a hardwood floor.

Anything you don't need to do?

In general, wall-to-wall carpeting is not a good idea. If the central air is 25 years old, you can fix it or offer to replace it or offer buyers a credit against a new one. Before, buyers wouldn't give you the time of day on a contingency contract [a promise that you'll fix something before the new owner moves in], now they're more amenable. Go around your neighborhood, see what the Joneses have done. Does your house measure up? The right price is crucial to selling your house faster. So look around, talk to professionals. Everyone thinks their house is worth more than it really is. A price-reduced sign can bring in people, but it can also turn a savvy buyer off.