The time to sell = NOW

Why You Should Sell Now… Before Winter Hits

 Monday November 16th, 2015  For Sellers, Move-Up Buyers

People across the country are beginning to think about what their life will look like next year. It happens every Fall. We ponder whether we should relocate to a different part of the country to find better year-round weather or perhaps move across the state for better job opportunities.

Homeowners in this situation must consider whether they should sell their house now or wait. If you are one of these potential sellers, here are five important reasons to do it now versus the dead of winter.

1. Demand is Strong

Foot traffic refers to the number of people out actually physically looking at home right now. The latest foot traffic numbers show that buyers are still out in force looking for their dream home. These buyers are ready, willing and able to buy…and are in the market right now!

As we get later into the year, many people have other things (weather, holidays, etc.) that distract them from searching for a home. Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing supply is still well under the 6 months’ supply necessary for a normal market. This means that, in many markets, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market in the near future.

Also, new construction of single-family homes is again beginning to increase. A study by Harris Poll revealed that 41% of buyers would prefer to buy a new home while only 21% prefer an existing home (38% had no preference).

The choices buyers have will continue to increase over the next few months. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

One of the biggest challenges of the housing market in recent times has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. Any delay in the process is always prolonged during the winter holiday season. Getting your house sold and closed before those delays begin will lend itself to a smoother transaction.

4. There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 18.1% from now to 2019. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30-year housing expense with an interest rate below 4% right now. Rates are projected to rise by this time next year.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market. Perhaps, the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Ready to get it done, call, text or email

One thing not to worry about when selling your home

Don't believe the rumors.  It's not overly difficult for you or for the potential buyer of your home to get a mortgage

So why not move forward toward the home you really want. Call, text or email me.

Things you contorl about selling your home

TAKE CARE OF THESE TO GET HOME SOLD

There are a lot of things you can’t control in the home-selling process. You can’t force people to come see your home or make an offer on it. But you can make sure to take care of some easy repairs that would otherwise turn off prospective buyers. Look around and make sure you haven’t ignored any of these 10 repairs that can make a buyer think twice about your asking price.

1. Paint colors that just don’t blend in

The color of your home is one of the first things a buyer will notice. If it’s a very different color from your neighborhood or general area, you should paint it something more innocuous. (Hear that, Sandra Cisneros?) Most buyers don’t want to live in the only pink house in town.

The same goes for the interior. If your living room is bright orange, paint over it. Choose a neutral color so buyers can project their own ideas onto it.

2. A front door that’s not inviting

The front door is one of the next things a buyer will notice. If the door is flimsy, cheap, or outdated, it’ll discourage the buyer before it’s even opened. Spring for a new one—it’s the most reliable update you can perform to recoup your cost.

3. A busted doorbelll   

While you’re at it, don’t forget the doorbell! Having one that works with a friendly, crisp chime is a sign that your house has been well taken care of.

4. Tattered window and door screens

Buyers will notice screens that look more like Swiss cheese than insect shields. You don’t necessarily have to spring for a whole new set—just grab some screen repair patches (they’re cheap) and fill in the tears.

5. Depressing landscaping

As potential buyers drive up to your home, they’ll notice everything—the trees, the grass, the rock pathway, and the plants out front. And it matters. If your lawn is home to a half-dead tree, yellowing grass, unkempt shrubs, and a pathway swallowed by weeds, you might get more lowball offers than you anticipated.

Keep the plants trimmed and the grass freshly cut. Make sure the walkway is clear and fallen branches are removed from the lawn. A fresh layer of mulch will brighten up the outside, too.

6. An unpleasant smell of … something

Nothing can turn a buyer off faster than the stench of faded cigarettes or poorly trained pets. Of course, it’s hard for us to smell our homes after we’ve lived in them for a while, so ask a diplomatic friend to sniff your place. If it stinks, start cleaning.

7. Eerie dripping sounds

If potential buyers hear a dripping faucet or running toilet when touring the house, they might start questioning the building’s integrity or the seller’s level of care. These are quick DIY fixes that shouldn’t go ignored.

8. Bad lighting

Replace harsh lights with bulbs that have a softer glow. Clean out light fixtures to get rid of dirt or dead bugs that can mute the lighting (not to mention look gross).

9. Squeaky hinges

Doors that groan when they open are for horror movies, not homes for sale. Grab a lubricant (such as white lithium grease, but in a pinch you can use cooking oil) and grease the hinges to stop the squeak.

10. An outdated kitchen

Completely renovating a kitchen can get real expensive, real fast. Keep it simple by adding a fresh coat of paint. Although we did say you should keep paint colors neutral, here’s where you can try something more inviting—like pale yellow, a color we associate with light and joy. Switch out old cabinet knobs and handles for something fresher like nickel cup pulls.

Perception is NOT Reality for Homeowners Hesitating to Sell

THE IMPORTANCE OF PRICING YOUR HOME CORRECTLY

Selling Your Home? Price It Right From the Start!

In today’s market, where demand is outpacing supply in many regions of the country, pricing a house is one of the biggest challenges real estate professionals face. Sellers often want to price their home higher than recommended, and many agents go along with the idea to keep their clients happy. However, the best agents realize that telling the homeowner the truth is more important than getting the seller to like them.

There is no “later.”

Sellers sometimes think, “If the home doesn’t sell for this price, I can always lower it later.” However, research proves that homes that experience a listing price reduction sit on the market longer, ultimately selling for less than similar homes.

John Knight, recipient of the University Distinguished Faculty Award from the Eberhardt School of Business at the University of the Pacific, actually did research on the cost (in both time and money) to a seller who priced high at the beginning and then lowered the their price. In his article, Listing Price, Time on Market and Ultimate Selling Price published in Real Estate Economics revealed:

“Homes that underwent a price revision sold for less, and the greater the revision, the lower the selling price. Also, the longer the home remains on the market, the lower its ultimate selling price.”

Additionally, the “I’ll lower the price later” approach can paint a negative image in buyers’ minds. Each time a price reduction occurs, buyers can naturally think, “Something must be wrong with that house.” Then when a buyer does make an offer, they low-ball the price because they see the seller as “highly motivated.” Pricing it right from the start eliminates these challenges.

Don’t build “negotiation room” into the price.

Many sellers say that they want to price their home high in order to have “negotiation room.” But, what this actually does is lower the number of potential buyers that see the house. And we know that limiting demand like this will negatively impact the sales price of the house.

Not sure about this? Think of it this way: when a buyer is looking for a home online (as they are doing more and more often), they put in their desired price range. If your seller is looking to sell their house for $400,000, but lists it at $425,000 to build in “negotiation room,” any potential buyers that search in the $350k-$400k range won’t even know your listing is available, let alone come see it!

One great way to see this is with the chart below. The higher you price your home over its market value, the less potential buyers will actually see your home when searching.

A better strategy would be to price it properly from the beginning and bring in multiple offers. This forces these buyers to compete against each other for the “right” to purchase your house.

Look at it this way: if you only receive one offer, you are set up in an adversarial position against the prospective buyer. If, however, you have multiple offers, you have two or more buyers fighting to please you. Which will result in a better selling situation?

The Price is Right

Great pricing comes down to truly understanding the real estate dynamics in your neighborhood. Let's get together to discuss what is happening in the housing market and how it applies to your home.

To see how this applies to your unique situation just call, text or email

Have Buyers for Your Home Fall in Love with it a First Sight

FALL IN LOVE AT FIRST SIGHT

From the very first glance, either online or in person, potential buyers should immediately be hooked and feel like it is already their home. Most homeowners rarely go through their own front entry, so take some time to enter though your front entry and view it as if you were seeing it for the first time. Prospective buyers will notice every detail and determine whether or not they are interested in your property.

Here are 5 home staging tips to increase your curb appeal and help home buyers fall in love with your home.

Living in Your Home While it is For Sale

I can't make it easy to be showing the home you are living in at the same time. However, these tips may make it simpler.

Living In Your Home While It Is For Sale

You have decided it is time to move and put your house on the market. You have made a big decision, congratulations! When the for-sale sign is placed on your lawn, dozens of interested buyers and real estate agents will be trudging in and out of your entire house. You will have unfamiliar people examining every nook and cranny of your home.

Selling your home is a huge financial undertaking, so you will want to give your home the best chance to sell for the maximum price….while you still comfortably reside there.

Follow these steps to maintain a livable home and still sell it at the highest possible price.

Start Packing Now

As of right now, you may only have 3-4 months until the moving truck arrives and it is time to move. Therefore you need to remember that you are not going to need all of the decorative furniture or little knick-knack items that are currently filling your rooms and closets over the next few months. So if it is October and you lviein Maryland or Pennsylvania, you won’t need your spring and summer clothes; pack them up. The secret to getting a house clutter-free is to have the mindset of removing all the things you can live without while your home is on the market (it’s only a temporary).  With that in mind…….

Keep it, Store it, Toss it or Donate it!

Clutter can eat away equity and kill potential deals. The concept of less is more – removing clutter – is at the heart ofpreparing to sell a home because space is an important commodity. Showing that you have a little extra breathing room and a sense of expansiveness in your home gives off the feel of luxurious, calming and uplifting. As obvious as this seems, buyers will be more attracted to a home that feels like it has extra space, which is why removing unnecessary clutter from your home is essential when preparing for an upcoming move.

Scrub Away

After you have de-cluttered your home, it is time to start cleaning. Say farewell to all the cobwebs, dust, grime, rust, mildew and carpet stains. The windows, glass and mirrors must sparkle. The sinks and toilets should look ‘five-star hotel perfect.’ Most people dread cleaning, but the payoff is worth it in the end.

Maintain your Privacy and Safety

Believe it or not, people are nosy and may look through your drawers, closets, medicine cabinets, etc… at your open house or showing. Don’t keep anything in the house that you do not want other people to see; personal documents and valuables. Don’t leave mail sitting around, lock up all checks, credit cards or any other personal information. Be extra cautious about anything of monetary or sentimental value. Although this type of behavior is rare, it is better to be safe than sorry in this case,

Send your Pets on a Holiday

Animals are a wonderful addition to any household; however they may not be the best addition to an open house or listing. Therefore you should plan accordingly, ask friends and family to take your pet(s) for the day or at least a few hours, while the house is being shown.

Prep Like a Pro

When you are living in a house that is on the market, you need to be prepared to “Show Prep” you home for each showing. Even though your real estate agent is constantly working hard for you, they are busy and often arrive at the same time of the potential buyers. This means they may not have the opportunity or time to prep the house. When those buyers arrive, your house must be ready to go. Every light set perfectly, the doors and windows open if weather permits and the temperature exactly right.

Involve Your Kids in the Process

If you have children, you most likely have a lot of toys laying around to entertain them. And of course, your kids need to be able to play and continue on with their everyday lives. So how do you get the house looking perfect for every showing? Involve your kids. Make the process a game and get them to participate. Let them understand that it’s time to put the house “on show” and you all need to set the stage together. Have them pick up their favorite toy and stuffed animal to showcase in a perfect spot each time for the show, and put the rest of the toys away. You will be surprised how cooperative kids are and how much fun they have when you announce its “Show Time!”

Get it Ready and Get Out

Once you have gone through the checklist and completed everything that needs to be done before each showing, it is time to get out! You want the potential buyers to feel that this could be their future home. After you have worked so hard to create the perfect atmosphere for their experience, the last thing you want to do is ruin it by hanging around. The real estate agents and the potential buyers need to be able to speak openly and honestly with one another, and if you are present, this most likely won’t occur.

Final Panic – “I can’t live like this!”

Don’t let the pressure of maintaining a clean house overwhelm you. You will be concerned that you won’t be able to keep your house sparkling clean every day. But don’t worry, if you truly dress up your home for sale the process ofprepping will be easy. Since your things are packed and organized, and your down to the essential basics, moving will be a easy-breezy.

Do you want to go it alone? Fannie Mae suggests:

Fannie Mae Agrees: Hire a Pro to Sell Your House

October 16 2014

Do you really need an agent to sell your house in today’s market? Here’s what Fannie Mae suggests to sellers on the Know Your Options section of their website:

“Select how you'll market and list the home (e.g., with a real estate agent or for sale by owner). There are pros and cons to each, but unless you are experienced at selling homes, it usually makes financial sense to get professional help—homes sold by agents typically sell at a higher price and spend less time on the market. An agent will also help you determine the best pricing for the house, they'll market the home, and they'll be your advocate throughout the process.”

Let’s go over the points they made:

• Homes sold by agents typically sell at a higher price
• Homes sold by agents typically spend less time on the market
• An agent will help you determine the best pricing for the house
• An agent will market the home
• An agent will be your advocate throughout the process

If Fannie Mae says using an agent probably makes sense, perhaps you should interview an agent before putting your house up for sale.

Buying a house 4 Good Reasons to do it NOW

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