Jul 21, 2011
In some ways shopping for a new home can be a little like online dating– when you go from pictures and descriptions to a real-life encounter, first impressions are everything. When you are selling your home you want the prospective buyer to walk in the door and have an instant positive reaction. Here are four tips for setting the mood when showing your home:
When buyers walk into your home, they should feel comfortable, they should feel welcome, and they should feel at home. Although your house, its features and your staging techniques will go a long way to accomplish these goals, it also never hurts to help set the mood. Here’s what you can do:
- If the weather is warm, make sure the house is cool and the windows are closed. A quiet, cool home is a welcomed change on a hot day with outside noise. In fact, buyers are more likely to stay longer if they feel comfortable in your home! If weather permits, light the fireplace and create instant ambiance, or if the weather is fair, take the opportunity to open the windows and let the fresh air circulate throughout your home.
- Make sure your home is bright and inviting. Therefore, open the blinds and throw open the curtains to let the sun shine in. Turn on lights throughout the home so your home appears brighter, larger and more inviting. Light a few candles (make sure you inform the Realtor you have done this) and, if the showing is during the evening, turn on all outdoor and landscape lighting.
- Don’t overwhelm your buyers with strong scents, but do consider lightly scented candles and potpourri to sweetly scent the air. Make sure the trash is emptied and the cat’s litter box is hidden to eliminate any undesirable scents. And, by all means, don’t smoke in the house! Many sellers have also considered baking chocolate chip cookies or similar treats before a showing to fill their homes with a scent that appeals to the masses.
- Stay seasonal and get buyers in the mood with seasonally inspired touches. During the summer, set glass bowls with sea shells in the entry and fill a kitchen vase with summer blooms. In the fall, create a centerpiece with acorns and pine cones and bring in sprigs of late-blooming bushes for an added touch of autumn.
Jul 21, 2011
Today’s buyer-take-all bonanza is a bon for fence-sitters and buys with great credit and deep pockets. But sellers are steeling themselves to new realities that include paying (rather than making) money at the closing table, providing extras to sweeten the deal, and spending more time and cash making the home camera-ready.
For first-time sellers who have never been through the process, its a different world. One where the value of the house isn’t measured in the profit made on the sale, but by the enjoyment the owners had from living in the home.
Here are three things experienced sellers would tell you, if they could.
Price it Realistically
Your largest number of showings will occur in the first two to three weeks. The multiple listing service systems and the Internet tend to drive the majority of showings. Many buyers are plugged in electronically, so the minute something new pops up that meets their criteria, they want to see it. Take advantage of that sweet spot by pricing the house competitively right out of the gate.
Be Prepared to Lose Some Money
Want to sit with a house that won’t move? Be the first-time seller who insists you can get the appraised value, the tax assessor’s estimate or whatever you paid a few years ago. “it seems like there’s no relationship between your assessed value, taxable value and the actual market value of your house,” says Pat Vredevoogd Combs, past president of the National Association of REALTORS. The truth is that your house is worth what buyers are willing to pay.
Promotion, Promotion, Promotion
One question to ask yourself and pose as you interview agents: How will you reach the home’s target market? You have to consider who your most likely buyers are for what you’re selling and cater to that group of people.
Real Estate Magazine – July 2011
Jun 20, 2011
Simple and affordable do-it-yourself projects can greatly increase a home’s resale value, according to HomeGain’s annual home improvement and staging survey. The marketing company surveyed nearly 600 real estate professionals to discover which DIY projects give sellers the biggest return for their buck. Here are six projects under $1000 (amounts are estimated) that made the list.
- Cleaning and decluttering. Remove any personal items, unclutter countertops, organize closets and shelves, and make the home sparkling clean.
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$290 Cost
$1,990 Return |
- Brightening. Clean all windows inside and out, replace old curtains, update lighting fixtures, and remove anything that blocks light from the windows.
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$375 Cost
$1,550 Return |
- Smart Staging. Rearrange furniture, bring in new accessories and furnishings to enhance rooms, incorporate artwork, and play soft music in the background.
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$550 Cost
$1,932 Return |
- Landscaping enhancements. Punch up the home’s curb appeal in the front and back yards by adding bark mulch, bushes, and flowers and ensuring current plants and grass are well-cared for and manicured.
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$540 Cost
$1,932 Return |
- Repairing electrical or plumbing. Fix leaks under the sinks, remove any mildew stains, and ensure all plumbing is in good working condition. Update the home’s electrical with new wiring for modern appliances, fix any lights or outlets that don’t work, and replace old plug points with new safety fixtures.
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$535 Cost
$1,505 Return |
- Replacing or shampooing dirty carpets. Steam-clean carpets, replace any worn carpets, and repair any floor creaks.
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$647 Cost
$1,739 Return |
May 24, 2011
(MONEY Magazine) — If you’re in the market to sell your home, you probably feel you can’t catch a break. Nearly five years into the housing bust, when many experts thought the real estate market would at least have stabilized, sales and prices are still dropping in most of the country.
In February existing-home sales tumbled 9.6% from the previous month, and the median price of a single-family home dropped to $157,000 from $163,900 the previous year, according to the National Association of Realtors.
You can’t count on things turning around soon, either. At the current sales pace, it would take 8.6 months to clear out the 3.5 million existing homes listed today.
With the boost from the recent homebuyer tax credit gone, anyone who decides or is forced to put a house up for sale enters a market where houses often linger a full six months — even a year — without any bites.
Put part of the blame on stiff competition: Foreclosures and short sales, which accounted for 39% of sales in February, sell for about 15% less than conventional homes. “It’s dreadful out there for sellers,” says Patrick Newport, a US economist at forecasting firm IHS Global Insight.
Fortunately, there is one glimmer of good news. Bargain hunters, too, know that home prices are down some 32% from their peak. In a recent CNNMoney survey, three-quarters said that it was a good time to buy a home. But translating that interest into an actual sale can require some extreme measures.
It’s not enough to show buyers your house is a deal: You have to convince them it’s a total steal. That means slashing your price, bringing in a pro to pretty it up, and creating a killer website for your home. Here’s how to do it right.
Slash Your Price, Big time
Sellers are still loath to accept the extent of the toll the bust took on their homes’ value, says Tara-Nicholle Nelson, consumer educator for the housing website Trulia.com.
Many also give in to the temptation to list the property above fair market value to see what happens. Big mistake! About a quarter of sellers in the past year initially listed too high and were forced to knock the price lower, according to Trulia.com. Even in cities that have held up well, such as Charlotte, 25% of sellers resort to at least one price cut, and often two
Jan 20, 2011
Before you paint, redo any landscaping, or declutter one room, you must make sure your house is priced correctly. Nothing is more important than price! To price your home correctly choose a real estate agent that uses all the research tools available (MLS, tax records, etc…), but don’t necessarily pick the realtor who quotes you the highest listing price, because what good is it to have your home on the market if its overpriced. Base your choice on what they have to offer as a realtor and what they can do to sell your home.
In the current market we have an oversupply of houses and sellers need to be more aggressive on price if they want to sell. According to experts the oversupply of houses is not going away for at-least three to four years. The homes that are selling are the ones that are priced properly.
The value of your home is determined by the homes that have recently sold in your neighborhood and the surrounding areas. The unfortunate fact in today’s market is you have to compete with short sale and foreclosure properties. These properties tend to bring the values down due to the fact that the banks will take less than what the property is actually worth.
To help your property be more appealing to a buyer eliminate any turnoffs. If you have worn out carpet, water stains on ceilings, damaged tile or chipping paint, you must fix these issues or any others that may occur. The next step, now that you have your price and all major issues addressed is to spruce up your property. A nicely landscaped yard, a freshly painted front door, decluttering, and newly painted walls go along way.
Last but not least, When is a good time to list your property? Some Realtors say you should wait until the spring sales season to list your home, but others say it’s not necessary. If your home is priced right it will sell anytime of the year.
