This past is a selling point for historic homes
An informed seller and a savvy agent can give pedigreed properties an edge in competitive market
By Kimberly Stevens, Cyberhomes Contributor
Published: March 3, 2009

When getting ready to sell historic homes, there are more details for owners to compile for potential buyers. (Photo: iStockphoto)
If George Washington slept there, it might help you sell your home. Or let’s just say, in the current competitive selling market, a little history goes a long way.
Most owners of historic homes have a piqued interest in the lore and legend of their property and, often, an interest in preserving its significant details. That being said, when getting ready to sell historic homes, there are more details to compile for potential buyers. Susan Rost, a broker for Towne & Country Properties/Sotheby’s International Realty in the Hudson Valley, N.Y., says research can augment the archive to be passed from owner to owner. “It’s amazing what wonderful information can be gathered from the local library or even the town records office,” she said. “It’s always a good place to start.”
A homeowner interested in capitalizing on history can also turn to the National Trust for Historic Preservation, whose award-winning publication, Preservation Magazine, has a large section of historic homes for sale.
The National Trust advises seeking out a local real estate agent who specializes in the sales of historic homes. “Right out of the gate you are going to get someone who knows about the history of your neighborhood, the history of the architecture of your home and, if you’re lucky, may even know some interesting details about your home,” said Rost, whose brokerage, Sotheby’s, sells historic property internationally.
Agents like Rost who market historic properties can be certified in a program offered by the National Trust; its website lists those who have successfully completed the program.
Sellers are wise to review websites dedicated to selling historic homes, including Oldhouses.com, because information gives them an edge. According to Diana Knox, an agent with Coldwell Banker who sells in Hancock Park, a historic Los Angeles neighborhood, everyone loves to know the history of the home they’re buying. But even more importantly, they like a tax break.
In California, many buyers qualify for the Mills Act, which lightens the property taxes of historic homes by 40 to 60 percent in the hopes that the funds will be put into restoration and preservation. Two dozen states offer tax credits related to historic preservation for owner-occupied residential property; a federal program provides a 20 percent tax credit for the preservation or adaptive reuse of income-producing property. “A tax break is a powerful selling point, and potential buyers need to be informed,” Knox said.
And, finally, understanding your property’s architectural history makes it appealing to a very particular audience. If the architect who designed your home is high profile, that is a selling point. “Even if the property is not in great shape but it has a well-known architect, that adds to the home’s value,” said Brian Linder, a Los Angeles broker for Deasy Penner & Linder, a boutique agency specializing in architecturally significant property.
Knox continued in that vein. “People love a good story about a house because it is so personal, especially when it is attached to a property that they might own,” she said. “As a seller, knowing a few good historic details about your home will establish you as an educated homeowner and it will help your broker, which essentially will help the sale.”