Three Mistakes Sellers Make That Get In The Way Of Selling Their Home

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With the housing market as it is these days, when sellers put a home on the market to sell, they should definitely do everything they can to get that home sold!  There are three common mistakes made by many sellers that if avoided, can make the difference in a successful sale or not one at all. 

The Home Is Not In Saleable Condition

If there are major issues with the house that has not been tended to and cared for, the chance of selling the home will obviously be slimmer.  This goes for things like siding, exterior doors, windows, furnace and other systemic functions.  Aside from functionality and curb appeal, buyers also notice cosmetic things such as worn carpet or worse, stained and dirty flooring, scuff marks on the walls or dents from moving if it’s a vacant home.  Uncleanliness, foul odors from either smoking or pets and general disarray are also problems that get in the way of buyers being able to see the house for what it really is. 

Make an effort to spruce up the exterior.  If possible, invest in some light landscaping unless you already have a decent exterior.  Do make sure everything is neat, clean, carpets freshly painted or carpets steam cleaned.  Have a cleaning person do a once over on the home, even if it is vacant – so that the fixtures, floors and windows are appealing. 

There Are Too Many Location Obstacles

People seeking a home usually have something in mind, particularly in terms of location.  Not location “where in the city?” – but location “what’s nearby?”  If the property is backed up to a main road, it is usually not as desirable.  If there is a commercial area very close nearby, lending to a noisy street all day and night long, buyers will usually turn away.

Factors that do make your location workable and even desirable include being in a good school district, in a neighborhood where housing values have historically tended to be higher than other neighborhoods or even the existence of a nearby park or recreation area.  If these things are not present the best way to compensate is to focus on, feature and highlight other high selling points of your house.  And if the location ends up being a deal-breaker, then compensate the buyer with price or other concessions.

The Selling Price Is Unrealistic

The single biggest hindrance to a home selling, let alone selling successfully – is its price.  If your home is the highest priced home in a neighborhood of many “for sale” signs, then buyers will naturally gravitate to other homes on the same street.  If your price is set according to the amount you paid rather than the current value, then in a market like the current challenged one, you will suffer lackluster interest from buyers.

The best way to manage pricing of your home is to connect with your Realtor, who will be well versed in appropriately pricing properties.  Not all Realtors are created equal, so do your homework and select one with a good track record of home sales and with a good amount of experience.  Your agent will likely conduct a detailed comparative market analysis (CMA) to determine exactly what homes that are similar to yours are priced and recently sold for in your vicinity.  It is very important to set a realistic price and unfortunately the price that is set based on the current market is not what you may have expected based on what you might have paid for your property.
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Aside from these three factors, homes also don’t sell if the seller is not flexible or willing to go with the flow.  Try to be reasonable in your expectations and hire a Realtor you can trust so you can be comfortable taking his or her advice to help you achieve successful selling results!

Debunking the Myth of Selling in Winter Months

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Many sellers are unsure whether or not to wait until next spring before listing their home. The confusion comes with a combination of age-old schools of thought that predict the spring season as being almost the only season for homes to sell successfully. Not true.

A lot of homeowners are under the impression that homes are not selling at all, whereas in our own experience, time and again we continue to see complete opposite results. So much so, that we are defying the myths of never ending days on market statistics with many properties going under contract in approximately two weeks. Here’s why.

There are so many buyers in the marketplace right now that are eager to lock in the phenomenal interest rates and market conditions that continue to allow a very significant amount of buying power. The interesting thing is that while it is a strong buyers’ market in that sense, sellers are still enjoying an edge with the lower inventory that comes with it being this time of year.

Regardless of which side of the fence you are on, either way you look at it the market is strong. People are out there buying. If there are fewer homes available on the market, then that only means that there is less selling competition. This of course translates to top dollar and incredibly quick, hassle-free transactions in which everyone comes out a smiling winner.

So to answer one of the most frequently asked questions I am getting these days, it IS a great time to sell your home. Sure, you could wait till spring. But keep in mind that so will countless other sellers and by the time springtime blooms are back out, so will equally as many more “for sale” signs, competing with you.

By listing your home now, you can harness the power of the buyers that are striving to find that perfect property before the holidays kick in.

Contact us today if you’d like a custom, home valuation report detailing exactly what we expect your home will sell for in today’s marketplace. Our team looks forward to hearing from you and helping your real estate goals come to fruition.

What Determines the Value of Your Home?

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Basically, a home's worth is determined by its market value. How is "market value" determined? Most often, it's figured by a comparison ("comp") with homes similar to yours in the surrounding area. So, if the homes in your neighborhood average, say, $250,000, then it's likely that the value of your property will fall in the same range. But market value is also determined by a number of factors including the following:

External Factors  

There can be several external factors influencing the value of your home. One is "curb appeal", or the first impression your property makes upon prospective buyers. A home that's in excellent condition on the outside will make a great first impression; a home in poor repair instantly loses its appeal to buyers. Other factors can include lot size, popularity of an architectural style of property, water/sewage systems, paved roads, sidewalks, etc.

Internal Factors  

The condition of a home's interior also has a huge influence on prospective buyers. When you've demonstrated "pride of ownership" and kept up the maintenance (quality paint, trim, molding, etc.), a buyer's interest will immediately perk up for the simple reason that they know your care and concern will result in less cost and maintenance for them. Other internal factors include construction quality, condition of appliances, size and number of rooms, heating/cooling type, energy efficiency, etc.

Supply and Demand

"Supply and demand" simply refers to the number of homes for sale versus the number of buyers. When there are more homes than there are buyers, prices tend to be lower. When there are a lot of buyers chasing few homes, then prices tend to rise. In effect, supply and demand affects how quickly your home will sell. Location More than likely, you already know the old saying, "There are three main factors in real estate - location, location, location." While that's not the whole story, desirability is a big factor for home buyers. They may want to live in particular school district known for its education excellence…a great and safe neighborhood with rising property values…etc.

But I Know My Home Is More Valuable Than a Lot of Comparable Homes in My Neighborhood  

Aren't Allowances Made for This? Definitely! Sometimes, it can be difficult to find homes exactly comparable to your own. So, dollar adjustments are made for the differences between your home and comparable properties.

Where Do I Find Sales Comparison Information?
 The easiest source to access is your Realtor. After all, it's his or her business to know such information! But, there are also other sources you can tap into in order to get a complete picture of your home's value in comparison to others in your neighborhood. Here's an overview of them:

1. ) The Local Assessor's Office  

It's very likely that your local assessor will be able to provide the sales history of a particular house, neighborhood, or style of architecture. Many assessors also provide lists of recent sales which you can browse and compare to the assessment roll. Today, many municipalities provide local sales and assessment information online making it very easy to access. Check with your local government agency to find out if they provide this service.

2.) Online Private Companies  

You can search for these companies using the Google search engine and the keywords "comparable home sales" or "comparable sales." Some companies offer free information; others charge a nominal fee. If you wish to get more specific, you can Google "real estate database" and type in the name of your particular state to get additional property information.

3.) Your Local Newspaper  

It's likely that your local newspaper is a great source of specific real estate information. Look for quarterly sales reports in the real estate or business sections.

The Key to Getting the Price You Want (or Close To It) for Your Home

The key to getting the best value is finding and matching the right buyer to your home. And that's the job of the Realtor! He or she should work hard to qualify those buyers upfront so the right people are viewing your property! In other words, the Realtor should weed out "lookers" and other unsuitable buyers as a first step in working with you. See how I do that for you by calling me today!

Tips for a Stress-Free Move

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So you’ve spent countless days (Weeks? Months?) looking for the perfect home and you finally have the keys! Now what? It’s time to move in. But after all the stress leading up to the closing, the last thing you want is for your move to be difficult. That’s why I’ve put together a short but very useful list of five things you can do to make that move as stress-free as possible.

Load Up on a Support System

Do not underestimate how much help you will end up needing. Not only does a strong support system help you with some of the more physical aspects of moving, but also you will benefit from having a great sounding board. It is important to be able to rely on people that you know and trust and those that will be a strong voice of reason during the otherwise typical madness of a move.

Give Yourself Time to Breathe

As you set out to tackle all the tasks involved in a successful move, it is easy to ignore the need for rest. Be sure to take plenty of breaks and try not to stress out about each little detail. By spending a few minutes each day to plan out some details at hand, you can sit back and watch things progress smoothly. It’s also important to make some time for fun or relaxing activities throughout your move as well.

Don’t Neglect Your Body (and Mind)

As things to do pile up, the natural thing you might end up doing is to stop taking care of your body’s needs. Without proper nutrition, you stand the risk of a physical breakdown – and the last thing you need is unnecessary delay in getting settled. Taking care of your mind is equally as important, that’s why I recommend getting in some exercise during move-in days too. Nothing relieves stress like exercise and it will be good to get away from a sea of boxes for a while.

Hire Professionals Whenever Possible

If you can afford it, hire professionals wherever possible. Whether you hire movers, organizers, interior designers, landscapers or architects – every bit of help you get in this regard will be time you can focus on personalizing your space. Hiring professionals allows you to be able to enjoy the move rather than be stressed about getting everything done.

Take Your Time and Enjoy the Process

It goes without saying that until you are completely settled down in your new home, things will not be perfect. Having said that, don’t forget to slow down and enjoy the means to the end too. Rather than rush things, adjust to new friends, a new neighborhood and of course your new home. This will be a time you will relish and one that you will not be able to recover in the future.

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If you would like help finding your dream home, contact me today – I look forward to helping you!