Many times I go to do a home to complete an inspection for a potential buyer, only to find the home not ready for an inspection. The home not being prepared then makes the buyer suspicious that there are areas that the inspector could not access causing them to back out of the deal. Completing a few routine maintenance items and having the home prepared for the inspection will avoid those long lists of misc. defects on a home inspection report that can scare a potential buyer.
Here are some tips to get your home ready for a home inspection.
1. Make sure the electric is on in the home and to all circuits. A home inspector will not flip breakers “on” or “off” during an inspection.
2. Make sure the gas or fuel is on to all the appliances and that all pilot lights are lit. Inspectors will not light pilot lights or turn on valves.
3. Make sure water is on and functional to all fixtures. Inspectors will not turn any valves to get water to any fixture.
4. If there are any light bulbs burned out, replace them.
5. Clear out stored items under the sinks.
6. If the attic access is located in a closet or other area where your personal effects are in the way, remove all of your personal items from under the access hole and remove any shelving that may be in the way of getting a ladder to the attic. Inspectors will not move any personal items or shelving to access an attic.
7. Grab a screwdriver and check all doors and windows for loose hardware, and make sure they all open/close properly.
8. Clean off the roof and/or gutters from debris, etc.
9. Check for any minor leaks under sinks or drains under the floor in the basement, etc., and have them repaired prior to the inspection.
10. Have your heating and A/C equipment serviced and have record of the last servicing available for proof.
Taking care of these items will not only reduce the laundry list of defects found on a home inspection report, but it will also help secure the deal to sell your home.
Saturday, December 30, 2006
Selling a home Pre-listing Inspections can be the ticket to saving money
Over the past 10 years, home buyers have begun to realize the benefits to having a home inspection performed soon after their offer is made. Buyers can determine the overall condition of the home, ask for items to be repaired, negotiate a lower price, at least know what they are getting into, or walk away from the deal altogether.
Lately, sellers and their agents are realizing the benefits of having a pre-listing inspection.
A prelisting inspection is a home inspection performed prior to the home being placed on the market. Occasionally the inspection is paid for by the agent as many know the value far exceeds the cost.
Here are some of the advantages of having a prelisting inspection.
1. You have the opportunity to fix any items prior to listing.
2. You can disclose all of the defects you choose not to fix which reduces what a potential buyer can use to negotiate a lower price.
3. You can set the price of the home to reflect the defects, thus reducing the chance of any lower negotiating by the buyers.
4. You significantly reduce the chance that a buyer will sue you or the realtor for failure to disclose. You did everything you could to disclose all the defects by having a pre-listing inspection.
5. Faster Closing. By having a pre-listing inspection, many buyers will waive their own inspection contingency, and thus reduce the overall closing timeframe.
If you want to get the highest possible price for your home, you should consider paying for a pre-listing inspection.
Here’s a quick example. Let’s say you have a home you want to sell for $200,000. It’s an older home with an older roof. The buyers inspector comes in and says the roof has reached the end of it’s useful life and that it will need replacement in the next year or so.
The buyer will not be pleased and will probably ask you to either replace it, or may renegotiate for a lower price…Lets say they ask for $10,000. off the asking price.
If you had a pre-listing inspection, you would have had the opportunity to have it repaired yourself. (by negotiating, the buyer will never give you an accurate figure. They will always go with a high number) and lets say a new roof would cost you $7,000 instead of $10,000. The pre-listing inspection could have saved you $3000 for a $400 inspection cost.
In another respect, knowing the roof is bad, you could reduce the listing price to say $196,500, thus splitting the cost with the buyer. By letting them know in the disclosure that the price of the home reflects the need for a roof, you have just helped yourself and saved $6,500.00.
There is nothing but benefits to you in having a pre-listing inspection performed.
Lately, sellers and their agents are realizing the benefits of having a pre-listing inspection.
A prelisting inspection is a home inspection performed prior to the home being placed on the market. Occasionally the inspection is paid for by the agent as many know the value far exceeds the cost.
Here are some of the advantages of having a prelisting inspection.
1. You have the opportunity to fix any items prior to listing.
2. You can disclose all of the defects you choose not to fix which reduces what a potential buyer can use to negotiate a lower price.
3. You can set the price of the home to reflect the defects, thus reducing the chance of any lower negotiating by the buyers.
4. You significantly reduce the chance that a buyer will sue you or the realtor for failure to disclose. You did everything you could to disclose all the defects by having a pre-listing inspection.
5. Faster Closing. By having a pre-listing inspection, many buyers will waive their own inspection contingency, and thus reduce the overall closing timeframe.
If you want to get the highest possible price for your home, you should consider paying for a pre-listing inspection.
Here’s a quick example. Let’s say you have a home you want to sell for $200,000. It’s an older home with an older roof. The buyers inspector comes in and says the roof has reached the end of it’s useful life and that it will need replacement in the next year or so.
The buyer will not be pleased and will probably ask you to either replace it, or may renegotiate for a lower price…Lets say they ask for $10,000. off the asking price.
If you had a pre-listing inspection, you would have had the opportunity to have it repaired yourself. (by negotiating, the buyer will never give you an accurate figure. They will always go with a high number) and lets say a new roof would cost you $7,000 instead of $10,000. The pre-listing inspection could have saved you $3000 for a $400 inspection cost.
In another respect, knowing the roof is bad, you could reduce the listing price to say $196,500, thus splitting the cost with the buyer. By letting them know in the disclosure that the price of the home reflects the need for a roof, you have just helped yourself and saved $6,500.00.
There is nothing but benefits to you in having a pre-listing inspection performed.
Easy Way To Sell Your Home
It is not pleasant when you want to sell home but nobody is interested in. Selling a home need not be a bitter encounter. We should healthily treat it as a source of marketable commodity, a money-generating property, a real estate. We should see our property as not just a plain house or a shelter, but as a fortress! In selling a home, we should also let other people (especially prospective buyers) get the same home sweet home experience we had.
Here is the first action you should do to have a good move in selling a home is to first cut off your personal attachment from it. Have it ready for others to see and in time, they’ll consider buying it.
Most people usually are not searching for big houses. They might consider the size more important if they have a large family, but most probably they’ll look for the comfort and homey feeling it brings. In selling a home, remember to restore its best features – just like the way it looked when you first stepped in.
You should remove all posters and frames of photos and de-personalize before selling a home and presenting it to prospective buyers. Make sure you have a final walkthrough to see if all personal memorabilia has been removed. Then try to see the parts of your home that need some re-conditioning.
All the clutter should be removed too as it is also a major step in selling a home. Sadly though, this part is also the hardest to do for homeowners as they have become emotionally attached to it. On the part of the buyer, seeing clutter is a very negative thing that will drive them away from the idea of buying. In selling a home, highlight all spacious area of the house and clear away all visible clutter.
In selling a home, you will most likely meet two types of realtors. Realtor Type #1 will present and come up with prices much lower than what you’ve estimated and will strongly strengthen their statements with sales records of homes similar to yours. Then here comes Realtor Type #2 who perfectly agrees and matches with how much value you are expecting to get, or sometimes they may even declare a higher value. Study their Competitive Market Analysis before you decide.
A last tip for selling your home is to take action now! Review your plans, pair up with the right realtor, and in just a short time you will feel much more comfortable in buying and selling real estate.
Nowadays, home buyers are having more choice about the homes they will buy. In the real estate market, competition is tough now to find a buyer that sees the potential in a home that needs a little work, without substantially lowering your asking price.
There is a reason why you cannot get a fair price. In many cases buyers expect your home to be in 'move-in' condition before parting with their money. They see new carpets and freshly painted walls in showrooms and are judging your home with the same measuring stick. It changes what people are willing to pay. You receive offers subject to negotiations - meaning you have more work to do before the sale takes place. Others may simply try to give you a ridiculously low offer if they buy 'as-is'.
If you have pressing circumstances that mean you cannot do the work or cannot afford the time it would take to have the work done you may take one of these offers, losing thousands of dollars of value just because it was the best offer on the table.
Real estate investors know the market you are selling in. They are not put off by stains on the carpets, fading paint or any of the other typical wear and tear that comes with lived-in homes. You can find real estate investors who will take on all of the hassle of cleaning and prepping your home for new buyers - all the while taking over your payments so you don't have to wait for the closing before moving on.
You save yourself the hassle of finding a buyer that's willing to give you a fair price for your home while also being relieved of the work involved to make it look what its worth. This can be very important when a move needs to be made right away but you simply don't have the time or ability to fix things up.
It is better to find a realtor that can sell your home on the date you choose, giving you a fair price and doing the fixing up for you! All they can do is listing your home to the market - the market will decide what they will pay, not the realtor. Instead you may be talked into doing the work yourself or lowering your price - not always an option.
Remember that an investor is a buyer - you will not be paying them to list your property, they will be purchasing it from you or taking over the payments until a buyer is ready to purchase. You will not pay commission fees and other usual closing costs - you just sell your home. Have your home evaluated and find out the process involved - its easier than you think!
Here is the first action you should do to have a good move in selling a home is to first cut off your personal attachment from it. Have it ready for others to see and in time, they’ll consider buying it.
Most people usually are not searching for big houses. They might consider the size more important if they have a large family, but most probably they’ll look for the comfort and homey feeling it brings. In selling a home, remember to restore its best features – just like the way it looked when you first stepped in.
You should remove all posters and frames of photos and de-personalize before selling a home and presenting it to prospective buyers. Make sure you have a final walkthrough to see if all personal memorabilia has been removed. Then try to see the parts of your home that need some re-conditioning.
All the clutter should be removed too as it is also a major step in selling a home. Sadly though, this part is also the hardest to do for homeowners as they have become emotionally attached to it. On the part of the buyer, seeing clutter is a very negative thing that will drive them away from the idea of buying. In selling a home, highlight all spacious area of the house and clear away all visible clutter.
In selling a home, you will most likely meet two types of realtors. Realtor Type #1 will present and come up with prices much lower than what you’ve estimated and will strongly strengthen their statements with sales records of homes similar to yours. Then here comes Realtor Type #2 who perfectly agrees and matches with how much value you are expecting to get, or sometimes they may even declare a higher value. Study their Competitive Market Analysis before you decide.
A last tip for selling your home is to take action now! Review your plans, pair up with the right realtor, and in just a short time you will feel much more comfortable in buying and selling real estate.
Nowadays, home buyers are having more choice about the homes they will buy. In the real estate market, competition is tough now to find a buyer that sees the potential in a home that needs a little work, without substantially lowering your asking price.
There is a reason why you cannot get a fair price. In many cases buyers expect your home to be in 'move-in' condition before parting with their money. They see new carpets and freshly painted walls in showrooms and are judging your home with the same measuring stick. It changes what people are willing to pay. You receive offers subject to negotiations - meaning you have more work to do before the sale takes place. Others may simply try to give you a ridiculously low offer if they buy 'as-is'.
If you have pressing circumstances that mean you cannot do the work or cannot afford the time it would take to have the work done you may take one of these offers, losing thousands of dollars of value just because it was the best offer on the table.
Real estate investors know the market you are selling in. They are not put off by stains on the carpets, fading paint or any of the other typical wear and tear that comes with lived-in homes. You can find real estate investors who will take on all of the hassle of cleaning and prepping your home for new buyers - all the while taking over your payments so you don't have to wait for the closing before moving on.
You save yourself the hassle of finding a buyer that's willing to give you a fair price for your home while also being relieved of the work involved to make it look what its worth. This can be very important when a move needs to be made right away but you simply don't have the time or ability to fix things up.
It is better to find a realtor that can sell your home on the date you choose, giving you a fair price and doing the fixing up for you! All they can do is listing your home to the market - the market will decide what they will pay, not the realtor. Instead you may be talked into doing the work yourself or lowering your price - not always an option.
Remember that an investor is a buyer - you will not be paying them to list your property, they will be purchasing it from you or taking over the payments until a buyer is ready to purchase. You will not pay commission fees and other usual closing costs - you just sell your home. Have your home evaluated and find out the process involved - its easier than you think!
Sell Your House At Fair Price
Nowadays, home buyers are having more choice about the homes they will buy. In the real estate market, competition is tough now to find a buyer that sees the potential in a home that needs a little work, without substantially lowering your asking price.
There is a reason why you cannot get a fair price. In many cases buyers expect your home to be in 'move-in' condition before parting with their money. They see new carpets and freshly painted walls in showrooms and are judging your home with the same measuring stick. It changes what people are willing to pay. You receive offers subject to negotiations - meaning you have more work to do before the sale takes place. Others may simply try to give you a ridiculously low offer if they buy 'as-is'.
If you have pressing circumstances that mean you cannot do the work or cannot afford the time it would take to have the work done you may take one of these offers, losing thousands of dollars of value just because it was the best offer on the table.
Real estate investors know the market you are selling in. They are not put off by stains on the carpets, fading paint or any of the other typical wear and tear that comes with lived-in homes. You can find real estate investors who will take on all of the hassle of cleaning and prepping your home for new buyers - all the while taking over your payments so you don't have to wait for the closing before moving on.
You save yourself the hassle of finding a buyer that's willing to give you a fair price for your home while also being relieved of the work involved to make it look what its worth. This can be very important when a move needs to be made right away but you simply don't have the time or ability to fix things up.
It is better to find a realtor that can sell your home on the date you choose, giving you a fair price and doing the fixing up for you! All they can do is listing your home to the market - the market will decide what they will pay, not the realtor. Instead you may be talked into doing the work yourself or lowering your price - not always an option.
Remember that an investor is a buyer - you will not be paying them to list your property, they will be purchasing it from you or taking over the payments until a buyer is ready to purchase. You will not pay commission fees and other usual closing costs - you just sell your home. Have your home evaluated and find out the process involved - its easier than you think!
There is a reason why you cannot get a fair price. In many cases buyers expect your home to be in 'move-in' condition before parting with their money. They see new carpets and freshly painted walls in showrooms and are judging your home with the same measuring stick. It changes what people are willing to pay. You receive offers subject to negotiations - meaning you have more work to do before the sale takes place. Others may simply try to give you a ridiculously low offer if they buy 'as-is'.
If you have pressing circumstances that mean you cannot do the work or cannot afford the time it would take to have the work done you may take one of these offers, losing thousands of dollars of value just because it was the best offer on the table.
Real estate investors know the market you are selling in. They are not put off by stains on the carpets, fading paint or any of the other typical wear and tear that comes with lived-in homes. You can find real estate investors who will take on all of the hassle of cleaning and prepping your home for new buyers - all the while taking over your payments so you don't have to wait for the closing before moving on.
You save yourself the hassle of finding a buyer that's willing to give you a fair price for your home while also being relieved of the work involved to make it look what its worth. This can be very important when a move needs to be made right away but you simply don't have the time or ability to fix things up.
It is better to find a realtor that can sell your home on the date you choose, giving you a fair price and doing the fixing up for you! All they can do is listing your home to the market - the market will decide what they will pay, not the realtor. Instead you may be talked into doing the work yourself or lowering your price - not always an option.
Remember that an investor is a buyer - you will not be paying them to list your property, they will be purchasing it from you or taking over the payments until a buyer is ready to purchase. You will not pay commission fees and other usual closing costs - you just sell your home. Have your home evaluated and find out the process involved - its easier than you think!
Five Things To Do Before You Sell Your Home
1. Surf the Internet.
A NAR survey found a twelve-fold rise in the number of Internet home shoppers during the previous three years. Services found at http://Domania.com like "Home Price Check" and "Value Check" will help you assess your property’s value, using many of the same tools (comps) as a REALTOR® does. There are plenty of other real estate sites worth checking out. However, not all real estate sites are created equally, so surf wisely.
2. Determine the "right" time to sell.
Spring and fall are usually the hottest home-shopping periods, but the downside is that a glut of products makes it hard for yours to stand out. While your location can be a factor (i.e., it's easier to sell a Los Angeles home in the winter), some elements of timing remain constant. For instance, the last week of December may never be a good time to show your house. Most REALTORS® have been through years of real estate sales and can provide overview and advice that’s worth listening to.
3. Decide whether you will conduct a "FSBO" (for sale by owner), buy new construction or hire a real estate agent.
It used to be thought that selling your own home could save you thousands in commissions (about 5% to 7% of the sale price). Nowadays, brokerages featuring MLS listings and new construction are offering cash-back incentives and rebates that have blunted the appeal of the ‘go it alone’ route. According to the National Association of Realtors, more than half of the people who do sell their home themselves say they would not do it again.
4. If you hire a real estate agent, do so thoughtfully.
Interview several candidates and check references. The National Association of Realtors (NAR) suggests that you ask prospective agents to create a comparative market analysis a marketing profile, and a suggested list price for your home. You might also want to compare REALTORS®
5. Consider MLS Listings.
Many folks just starting out may think a “For Sale” sign on the lawn will do the trick, but MLS Data (multiple listing service), which is collected by real estate agents around the country, provides your listing to thousands of people you’d never reach using just off-line techniques like newspaper ads. MLS data is fairly comprehensive, but keep in mind that not all MLS are the same. In fact, neighboring real estate franchises have occasionally been known to feature conflicting information.
A NAR survey found a twelve-fold rise in the number of Internet home shoppers during the previous three years. Services found at http://Domania.com like "Home Price Check" and "Value Check" will help you assess your property’s value, using many of the same tools (comps) as a REALTOR® does. There are plenty of other real estate sites worth checking out. However, not all real estate sites are created equally, so surf wisely.
2. Determine the "right" time to sell.
Spring and fall are usually the hottest home-shopping periods, but the downside is that a glut of products makes it hard for yours to stand out. While your location can be a factor (i.e., it's easier to sell a Los Angeles home in the winter), some elements of timing remain constant. For instance, the last week of December may never be a good time to show your house. Most REALTORS® have been through years of real estate sales and can provide overview and advice that’s worth listening to.
3. Decide whether you will conduct a "FSBO" (for sale by owner), buy new construction or hire a real estate agent.
It used to be thought that selling your own home could save you thousands in commissions (about 5% to 7% of the sale price). Nowadays, brokerages featuring MLS listings and new construction are offering cash-back incentives and rebates that have blunted the appeal of the ‘go it alone’ route. According to the National Association of Realtors, more than half of the people who do sell their home themselves say they would not do it again.
4. If you hire a real estate agent, do so thoughtfully.
Interview several candidates and check references. The National Association of Realtors (NAR) suggests that you ask prospective agents to create a comparative market analysis a marketing profile, and a suggested list price for your home. You might also want to compare REALTORS®
5. Consider MLS Listings.
Many folks just starting out may think a “For Sale” sign on the lawn will do the trick, but MLS Data (multiple listing service), which is collected by real estate agents around the country, provides your listing to thousands of people you’d never reach using just off-line techniques like newspaper ads. MLS data is fairly comprehensive, but keep in mind that not all MLS are the same. In fact, neighboring real estate franchises have occasionally been known to feature conflicting information.
Time To Sell Your Home
Under some circumstance, it forces you to move to new home and sometimes you have to sell it before the bank forecloses on it. When changes happen in your life - for good or bad - you may have to face the need to sell your home and sell it quick. If you need to move you probably don't want the anxiety or cost of trying to sell from another town while your home stays empty and unprotected. You may also not want the burden of the cost of paying for two mortgages and utilities for any length of time.
There are times when the best thing that could happen to you is for your home to sell quickly. The cost and burden of having your home sit on the market for weeks and even months means more money wasted and energy spent. If you live in your home while selling it you will be faced with the constant distraction of potential buyers coming to view your home. You will need to suffer the irritation of strangers looking into your closets and personal space. You will have the burden of maintaining spotless homes that will show beautifully even on short notice. If you have children, that will be even more difficult.
Along with that you may find your realtor is busy with so many properties that your home is not given enough attention. Potential buyers may be picky about the negotiating details, critical of your home and deals may fall through at the last minute meaning you must start again. The process can be long, tiring and frustrating.
You may think that you cannot sell your home without much loss. Up to now you may have only heard of real estate investors as a last recourse. Do you think that the only way to a quick sale is to lower your price below the market value? Will you need to spend weeks fixing and preparing your home for a buyer? Actually, if your home meets their qualifications, which may even take place over the phone, they can quickly handle the paperwork involved in making the sale without further delay. If they are interested in the property they can pay market value, or sign a contract to take over your payments while a suitable buyer is found - you don't have to wait until the buyer is ready, the payments are already being made. That means you can decide when the best closing date is for you. No more worries about the unpredictable market or the hassle of deal breakers. You can move on and get settled in your new home right away.
You don't have to worry about the season you're selling in, waiting for the perfect buyer or having a show home. This is the only sure method of selling your home quickly and without frustration. In fact you may find the approved buyers willing to pay more than if you let your property sit on the market too long or at the made a quick sale at the wrong time. If you are thinking about using a real estate investor make sure to have a 'no obligation' interview before making an agreement.
There are times when the best thing that could happen to you is for your home to sell quickly. The cost and burden of having your home sit on the market for weeks and even months means more money wasted and energy spent. If you live in your home while selling it you will be faced with the constant distraction of potential buyers coming to view your home. You will need to suffer the irritation of strangers looking into your closets and personal space. You will have the burden of maintaining spotless homes that will show beautifully even on short notice. If you have children, that will be even more difficult.
Along with that you may find your realtor is busy with so many properties that your home is not given enough attention. Potential buyers may be picky about the negotiating details, critical of your home and deals may fall through at the last minute meaning you must start again. The process can be long, tiring and frustrating.
You may think that you cannot sell your home without much loss. Up to now you may have only heard of real estate investors as a last recourse. Do you think that the only way to a quick sale is to lower your price below the market value? Will you need to spend weeks fixing and preparing your home for a buyer? Actually, if your home meets their qualifications, which may even take place over the phone, they can quickly handle the paperwork involved in making the sale without further delay. If they are interested in the property they can pay market value, or sign a contract to take over your payments while a suitable buyer is found - you don't have to wait until the buyer is ready, the payments are already being made. That means you can decide when the best closing date is for you. No more worries about the unpredictable market or the hassle of deal breakers. You can move on and get settled in your new home right away.
You don't have to worry about the season you're selling in, waiting for the perfect buyer or having a show home. This is the only sure method of selling your home quickly and without frustration. In fact you may find the approved buyers willing to pay more than if you let your property sit on the market too long or at the made a quick sale at the wrong time. If you are thinking about using a real estate investor make sure to have a 'no obligation' interview before making an agreement.
Properly Pricing Your Real Estate For Reduced Market Time
Proper pricing can significantly reduce the time your property is on the market. One of the most important services offered by an experienced real estate agent is guidance in pricing. They can be objective, and have access to current market data and the selling prices of comparable properties.
Here are some important factors that go into pricing and why it's so important to get it right from the start.
Determining Value: Experienced associates have valuable information at hand. With their expertise in analyzing data, they are able to present market information in its most useful form and counsel you on pricing while factoring in local market conditions, economic climate and the value of property improvements.
Location
Many factors can affect the desirability of a property. Neighborhoods that are close to shopping, schools, transportation and other conveniences typically will sell for more.
Condition
The condition of your home can significantly increase the value and decrease the selling time. Make sure your property is in the best possible condition at each showing. Your real estate agent can guide you in setting up your home to “show’”
Comparable Market Data
Homes must be priced within an appropriate range based on the current market value. You are actually "selling" your property twice... once to the buyer and once to the appraiser.
The more interest generated; the better chance of selling your home. When your home is new on the market it goes on the realtors “HOT” sheet for 7days. A properly priced home should have a good amount of activity during this period. The strongest potential buyer activity on a listing occurs in the early stages of marketing. This is the group with “pent-up demand” that has already begun to explore the market and are awaiting new properties to become available. Additional activity will come from buyers who are new to the market.
Even when a home is priced right, other conditions such as time of year, the economy, the current mortgage interest rates and competition can all affect the time it takes to sell your property.
Proper Pricing
Proper Pricing = Reduced Market Time
• Less Inconvenience to You
By reducing market time, proper pricing can reduce the time and energy needed to prepare your home for showings, including keeping it in "show condition", making child care and pet arrangements and altering your life to accommodate showings.
• Exposure to More and Better Prospects
At market value, you open your home up to more people who can afford to pay the price.
• Increased Agent Response
At a reasonable price more agents will get excited about the real prospect of selling your home and will make more efforts to show it to potential buyers.
• More Bottom Line Marketing Results
More ad and sign calls to real estate agents turn into showings when price is not an obstacle.
• Higher Offers
When your home is priced right buyers are less likely to make low offers out of fear of losing a good value.
• Faster Sale
When your home sells faster you save mortgage payments and other ownership costs.
• More Money to You
If your home is priced right, the excitement of the market produces a higher sales price. You net more in terms of both actual price and reduced carrying costs.
Here are some important factors that go into pricing and why it's so important to get it right from the start.
Determining Value: Experienced associates have valuable information at hand. With their expertise in analyzing data, they are able to present market information in its most useful form and counsel you on pricing while factoring in local market conditions, economic climate and the value of property improvements.
Location
Many factors can affect the desirability of a property. Neighborhoods that are close to shopping, schools, transportation and other conveniences typically will sell for more.
Condition
The condition of your home can significantly increase the value and decrease the selling time. Make sure your property is in the best possible condition at each showing. Your real estate agent can guide you in setting up your home to “show’”
Comparable Market Data
Homes must be priced within an appropriate range based on the current market value. You are actually "selling" your property twice... once to the buyer and once to the appraiser.
The more interest generated; the better chance of selling your home. When your home is new on the market it goes on the realtors “HOT” sheet for 7days. A properly priced home should have a good amount of activity during this period. The strongest potential buyer activity on a listing occurs in the early stages of marketing. This is the group with “pent-up demand” that has already begun to explore the market and are awaiting new properties to become available. Additional activity will come from buyers who are new to the market.
Even when a home is priced right, other conditions such as time of year, the economy, the current mortgage interest rates and competition can all affect the time it takes to sell your property.
Proper Pricing
Proper Pricing = Reduced Market Time
• Less Inconvenience to You
By reducing market time, proper pricing can reduce the time and energy needed to prepare your home for showings, including keeping it in "show condition", making child care and pet arrangements and altering your life to accommodate showings.
• Exposure to More and Better Prospects
At market value, you open your home up to more people who can afford to pay the price.
• Increased Agent Response
At a reasonable price more agents will get excited about the real prospect of selling your home and will make more efforts to show it to potential buyers.
• More Bottom Line Marketing Results
More ad and sign calls to real estate agents turn into showings when price is not an obstacle.
• Higher Offers
When your home is priced right buyers are less likely to make low offers out of fear of losing a good value.
• Faster Sale
When your home sells faster you save mortgage payments and other ownership costs.
• More Money to You
If your home is priced right, the excitement of the market produces a higher sales price. You net more in terms of both actual price and reduced carrying costs.
Strategic Home Pricing For The Best Exposure
A fair market price can mean more money for you in the least amount of time. Proper pricing leads to:
The most important thing you can do to sell your home for the most money in the least amount of time is to price the home correctly. Far too often, people think “I’ll just put it for sale at this amount, and if it doesn’t sell I can always reduce my price”.
The problem with this type of thinking is that nobody will even come and look at an overpriced home. Every realtor wakes up in the morning and immediately checks all the new listings in their market. They know when a home is overpriced and would never bring a client in to see that home. They are looking out for the best interests of their client.
When a listing is new this is the time to create some “buzz”. If it is priced properly you should get at least 7-10 showings in the 1st 2 weeks. If it is not, you will be lucky to get 1 or 2 showings, and maybe no showings.
Now the home sits and sits on the market racking up the dreaded “Market Time’.
After 120-150 days you finally decide to reduce your price. At this point even if you reduce it enough to bring it into fair market value, realtors will begin to wonder if you are now desperate, you will start to get unreasonably low offers that you would never consider. Another 60-90 days go by, you drop the price again, more bad offers come in. But by now you are actually considering some of these offers. Since that is all that you have seen and you have to sell, prices that were never a consideration 6 months ago are now prices you actually have to consider.
You finally accept one of these offers and sell below market value.
All this could have been avoided by properly pricing your home in the first place.
Today’s consumers are very knowledgable, they research the areas they want to live in, research market values before they even begin looking. The odds of selling your home at an inflated price are almost non-existent.
Properly pricing your home makes all the difference in a smooth enjoyable selling process or a long, frustrating ordeal.
- More potential buyers
- More agent interest
- Fewer showings
- Higher offers
- A faster sale
- More profit for you
The most important thing you can do to sell your home for the most money in the least amount of time is to price the home correctly. Far too often, people think “I’ll just put it for sale at this amount, and if it doesn’t sell I can always reduce my price”.
The problem with this type of thinking is that nobody will even come and look at an overpriced home. Every realtor wakes up in the morning and immediately checks all the new listings in their market. They know when a home is overpriced and would never bring a client in to see that home. They are looking out for the best interests of their client.
When a listing is new this is the time to create some “buzz”. If it is priced properly you should get at least 7-10 showings in the 1st 2 weeks. If it is not, you will be lucky to get 1 or 2 showings, and maybe no showings.
Now the home sits and sits on the market racking up the dreaded “Market Time’.
After 120-150 days you finally decide to reduce your price. At this point even if you reduce it enough to bring it into fair market value, realtors will begin to wonder if you are now desperate, you will start to get unreasonably low offers that you would never consider. Another 60-90 days go by, you drop the price again, more bad offers come in. But by now you are actually considering some of these offers. Since that is all that you have seen and you have to sell, prices that were never a consideration 6 months ago are now prices you actually have to consider.
You finally accept one of these offers and sell below market value.
All this could have been avoided by properly pricing your home in the first place.
Today’s consumers are very knowledgable, they research the areas they want to live in, research market values before they even begin looking. The odds of selling your home at an inflated price are almost non-existent.
Properly pricing your home makes all the difference in a smooth enjoyable selling process or a long, frustrating ordeal.
How Creating Curb Appeal Will Help You Selling Your Home
You may not know and realize how important of curb appeal to your home. It is a common sense that if you have an attractive and clean home on the outside, this will make someone want to see the inside. This strategy is very useful when you are attempting to sell you home; great curb appeal is just as important as having a home show beautifully on the inside. If the outside is not clean this can deter a potential purchaser from even booking a showing to see your home, even though the interior could be spectacular.
It is better to get others’ opinions in order to take an objective look at the outside of your property. To enhance the appearance of your home there are a few inexpensive things you can do. The most important consideration is the state of repair of the property. You must repair everything that needs repairing, which includes any cracked windows, broken railings, loose screens, crooked shutters, loose awnings, broken light bulbs, etc.
When finishing with repairing, you then turn to cleaning and unculttering processes. The garage should be cleaned out and items thrown out that have not been used in a year. Remove old tires, paint cans, bicycles, loose shrubs and broken lawn furniture from the yard.
Clear all pathways of any debris. Trim all shrubs and remove dead branches. Clean out the eaves. Don't forget the back yard! A new paint job can add tremendous curb appeal. Paint front doors, garage doors, trim and shutters a contrasting color to the brick and siding for a dramatic effect. Use only one color for uniformity and balance. Too many colors look busy.
Siding can be power washed to refresh the appearance. Flowers and flower pots can add tremendous color to a boring front yard. Place flower pots and large outdoor plants in a variety of colors on the front steps, walkways, or porches. Hang flower pots from the ceilings of verandas or hang on railings. Buy plant hooks and hang flower pots from them, which can be placed on the sides and front walls of your home. Plant a few flower beds with some green perennial plants for contrast. This is fairly inexpensive, but can add a lot of appeal to your yard. There are many books on landscaping at the library that can help you with this. Nurseries can offer helpful suggestions as well.
Spotlights focused on your flower beds can brighten up the yard at night giving it a very homey and welcoming feeling. This is also good for safety. A well lit home is a deterrent for burglars.
Lastly, add a decorative wreath and outdoor floor mat to the front of the door. This just adds the finishing touch and offers a welcoming appearance.
It is better to get others’ opinions in order to take an objective look at the outside of your property. To enhance the appearance of your home there are a few inexpensive things you can do. The most important consideration is the state of repair of the property. You must repair everything that needs repairing, which includes any cracked windows, broken railings, loose screens, crooked shutters, loose awnings, broken light bulbs, etc.
When finishing with repairing, you then turn to cleaning and unculttering processes. The garage should be cleaned out and items thrown out that have not been used in a year. Remove old tires, paint cans, bicycles, loose shrubs and broken lawn furniture from the yard.
Clear all pathways of any debris. Trim all shrubs and remove dead branches. Clean out the eaves. Don't forget the back yard! A new paint job can add tremendous curb appeal. Paint front doors, garage doors, trim and shutters a contrasting color to the brick and siding for a dramatic effect. Use only one color for uniformity and balance. Too many colors look busy.
Siding can be power washed to refresh the appearance. Flowers and flower pots can add tremendous color to a boring front yard. Place flower pots and large outdoor plants in a variety of colors on the front steps, walkways, or porches. Hang flower pots from the ceilings of verandas or hang on railings. Buy plant hooks and hang flower pots from them, which can be placed on the sides and front walls of your home. Plant a few flower beds with some green perennial plants for contrast. This is fairly inexpensive, but can add a lot of appeal to your yard. There are many books on landscaping at the library that can help you with this. Nurseries can offer helpful suggestions as well.
Spotlights focused on your flower beds can brighten up the yard at night giving it a very homey and welcoming feeling. This is also good for safety. A well lit home is a deterrent for burglars.
Lastly, add a decorative wreath and outdoor floor mat to the front of the door. This just adds the finishing touch and offers a welcoming appearance.
How to help sell your home faster
Your home may be decorated to your style and may feel like a cozy, warm home to you, but other may not view it in the same way. When you are trying to sell your home, you want it to look as appealing to the potential buyers as possible. Achieving this goal may mean that you may have to rethink your homes décor and do a little re-decorating.
If you have a room in your home that has a unique style of its own, you may want to change a few things. If you have decorated a room in your home in animal print, or in deep bold colors, you should think about toning it down a little. Potential buyers might be turned off by the boldness of the room and they may no longer want to consider your home for them. Keep the colors and the themes of the rooms in your home to basic, simple and conservative style. Keep things light and airy so that potential buyers can imagine their own style in that room or area. http://www.Appraisersworld.com
Another tip to selling your home is to keep the rooms uncluttered. Do not leave things lying around. Keep books and magazines put away or on a bookshelf. Accent pieces should do just that and they should compliment the décor in the room. Having too many accent pieces will only make the room look messy and cluttered. This is especially true in rooms like the kitchen. Keep the counters free of junk and clutter. Too much on the counters can make the room and counter space look minimal. You want to achieve the look of a spacious room instead of a small cramped look.
Do not have too much furniture in one room. Keep only the essential pieces in a room. You do not want a lot of furniture in a small room because this will make it look crowded and small. You want to bring focus on the floor plan of the house and how much potential space you will have available.
If you have a lot of family pictures hanging on the walls or on display, you may want to take some of them away. Having too many pictures of your family may also take away from the illusion of the potential buying thinking of themselves in that house. If you are taking pictures off the way, make sure that you fill in all the nail holes and repaint.
Make sure that the house is cleaned up and you may want to think about having the carpets cleaned. When people are looking at a home to buy, they want to purchase a home where clean people have lived. They do not want to buy a home where there may be dirt and grime either on the surface or underneath in hidden areas.
Before deciding to sell your home, go through each room and see where you need to update anything. If you have anything that is out dated, you may want to replace it with something newer and improved. Things that you can look at are paint, medicine cabinets, lighting fixtures, faucets, floor coverings, and even the plumbing or electrical work in the house. The more that you update now means the more money you can ask for when you sell. Putting a few dollars in your home now may mean that you can get double that when your house is sold.
Keep the pets hidden when people come over to view your home. If you are trying to sell your home, you do not want to let the potential buyers know that you have pets in the house. Take them out of the house with you and make sure that the house is free of any pet odors. Clean the carpets, spray room deodorizer or have candles lit when potential buyers come over.
If you have a room in your home that has a unique style of its own, you may want to change a few things. If you have decorated a room in your home in animal print, or in deep bold colors, you should think about toning it down a little. Potential buyers might be turned off by the boldness of the room and they may no longer want to consider your home for them. Keep the colors and the themes of the rooms in your home to basic, simple and conservative style. Keep things light and airy so that potential buyers can imagine their own style in that room or area. http://www.Appraisersworld.com
Another tip to selling your home is to keep the rooms uncluttered. Do not leave things lying around. Keep books and magazines put away or on a bookshelf. Accent pieces should do just that and they should compliment the décor in the room. Having too many accent pieces will only make the room look messy and cluttered. This is especially true in rooms like the kitchen. Keep the counters free of junk and clutter. Too much on the counters can make the room and counter space look minimal. You want to achieve the look of a spacious room instead of a small cramped look.
Do not have too much furniture in one room. Keep only the essential pieces in a room. You do not want a lot of furniture in a small room because this will make it look crowded and small. You want to bring focus on the floor plan of the house and how much potential space you will have available.
If you have a lot of family pictures hanging on the walls or on display, you may want to take some of them away. Having too many pictures of your family may also take away from the illusion of the potential buying thinking of themselves in that house. If you are taking pictures off the way, make sure that you fill in all the nail holes and repaint.
Make sure that the house is cleaned up and you may want to think about having the carpets cleaned. When people are looking at a home to buy, they want to purchase a home where clean people have lived. They do not want to buy a home where there may be dirt and grime either on the surface or underneath in hidden areas.
Before deciding to sell your home, go through each room and see where you need to update anything. If you have anything that is out dated, you may want to replace it with something newer and improved. Things that you can look at are paint, medicine cabinets, lighting fixtures, faucets, floor coverings, and even the plumbing or electrical work in the house. The more that you update now means the more money you can ask for when you sell. Putting a few dollars in your home now may mean that you can get double that when your house is sold.
Keep the pets hidden when people come over to view your home. If you are trying to sell your home, you do not want to let the potential buyers know that you have pets in the house. Take them out of the house with you and make sure that the house is free of any pet odors. Clean the carpets, spray room deodorizer or have candles lit when potential buyers come over.
4 Steps To Preparing Your Home For Sale
So the decision has been made to sell the house. Of course, this is much easier said than done. There are a few simple home improvements steps one can take in order to increase the chances of the prospective buyer falling in love with the house.
Get rid of the clutter: The most important and obvious step is to remove the clutter in your home. Try to remove as many items and pieces of furniture as possible. In fact, you can pack away any extra items to aid in the moving process when the house. Removing the clutter from your house allows the potential buyer to gain a sense of space and be able to imagine the room with their belongings in it.
Make it smell inviting: A recent survey of real estate agents has placed smell of the home near the top of the list of factors influencing buyers. Try to make the house smell of freshly baked bread or freshly brewed coffee. These fragrances give the house an overall home appeal and feel. If this isn’t possible, make sure to some of the many different electric “plug-in” air fresheners available at almost any store. Also be sure, if you have pets, to make use of the products available to eliminate pet odors.
Clean, clean, clean: Make sure every nook and cranny of the house is clean. Potential buyers tend to look anywhere and everywhere to make sure the house is in good condition. Clean toilets, cupboards, closets, cabinets and medicine cabinets. Make sure a toilet block is used to make sure everything smells fresh. Make sure all lime is removed from bath and water fixtures. Dust anywhere and everywhere, especially on electronics screens, entertainment centers, end tables and the like.
Landscaping: A final area to consider is the landscaping. If you have any flowers, plants or gardens, make sure they are properly trimmed and groomed and that all dead plants are removed. Be sure the lawn is mowed, yard is raked and everything is in order. The landscape and exterior appearance of your house can have the power to make or break a sale with a good or bad first impression.
Get rid of the clutter: The most important and obvious step is to remove the clutter in your home. Try to remove as many items and pieces of furniture as possible. In fact, you can pack away any extra items to aid in the moving process when the house. Removing the clutter from your house allows the potential buyer to gain a sense of space and be able to imagine the room with their belongings in it.
Make it smell inviting: A recent survey of real estate agents has placed smell of the home near the top of the list of factors influencing buyers. Try to make the house smell of freshly baked bread or freshly brewed coffee. These fragrances give the house an overall home appeal and feel. If this isn’t possible, make sure to some of the many different electric “plug-in” air fresheners available at almost any store. Also be sure, if you have pets, to make use of the products available to eliminate pet odors.
Clean, clean, clean: Make sure every nook and cranny of the house is clean. Potential buyers tend to look anywhere and everywhere to make sure the house is in good condition. Clean toilets, cupboards, closets, cabinets and medicine cabinets. Make sure a toilet block is used to make sure everything smells fresh. Make sure all lime is removed from bath and water fixtures. Dust anywhere and everywhere, especially on electronics screens, entertainment centers, end tables and the like.
Landscaping: A final area to consider is the landscaping. If you have any flowers, plants or gardens, make sure they are properly trimmed and groomed and that all dead plants are removed. Be sure the lawn is mowed, yard is raked and everything is in order. The landscape and exterior appearance of your house can have the power to make or break a sale with a good or bad first impression.
Selecting a Realtor To Sell Your Home
Your home is more than likely the largest asset that you have. You want to get the most money out of the sale of your home. At the same time you want to have a realistic marketing time of your house with a sales price that meets your expectation. This is where picking the right realtor is so important.
Wherever you live there seems to be a disproportionate amount of realtors around in relation to the population. Indeed, if you live in a medium sized city, there are generally thousands from which to choose. You can ask friends or relatives their experiences in selling a home and if they would recommend the realtor that they worked with. This can be a start. You may see and hear advertising in your area by real estate companies. Once you start the selection process pick at least 3-5 agents to individually meet with you at your home.
First impressions count. The realtor should be prompt for the appointment. The realtor should be prepared to ask you specific questions concerning your home. The realtor should have an information checklist with him. He should come back to you at a later time to give you an objective as possible listing price with a projected marketing time for the sale of your home. You do not want a yes man who will give you what you want to hear. You want to have a list price that is presentable to the public based on recent sales. You do not want a high list price that was given to get the listing. This will only have to be reduced at a later point after losing valuable “fresh” on the market time.
You have every right to ask questions of the realtor. In addition to what the commission will be, you would want to know how well this realtor knows your neighborhood. You would want to know if the realtor is full time or part time. You want to know how long this person has been in the real estate profession and what that person’s production has been over that last year. If you are the type of person who requires on going communication during the marketing process ask what is the realtor’s response time.
You want to have an honest agent. This agent should keep your confidence and be frank with you at all times. This will create a sense of the realtor and you being a team and real partners.
Taking the time to select one agent from several agents does not guarantee that you have made the best choice. However, you will greatly reduce the stress, and not have diminished results sales price wise, by demanding and expecting quality professional service up front.
Wherever you live there seems to be a disproportionate amount of realtors around in relation to the population. Indeed, if you live in a medium sized city, there are generally thousands from which to choose. You can ask friends or relatives their experiences in selling a home and if they would recommend the realtor that they worked with. This can be a start. You may see and hear advertising in your area by real estate companies. Once you start the selection process pick at least 3-5 agents to individually meet with you at your home.
First impressions count. The realtor should be prompt for the appointment. The realtor should be prepared to ask you specific questions concerning your home. The realtor should have an information checklist with him. He should come back to you at a later time to give you an objective as possible listing price with a projected marketing time for the sale of your home. You do not want a yes man who will give you what you want to hear. You want to have a list price that is presentable to the public based on recent sales. You do not want a high list price that was given to get the listing. This will only have to be reduced at a later point after losing valuable “fresh” on the market time.
You have every right to ask questions of the realtor. In addition to what the commission will be, you would want to know how well this realtor knows your neighborhood. You would want to know if the realtor is full time or part time. You want to know how long this person has been in the real estate profession and what that person’s production has been over that last year. If you are the type of person who requires on going communication during the marketing process ask what is the realtor’s response time.
You want to have an honest agent. This agent should keep your confidence and be frank with you at all times. This will create a sense of the realtor and you being a team and real partners.
Taking the time to select one agent from several agents does not guarantee that you have made the best choice. However, you will greatly reduce the stress, and not have diminished results sales price wise, by demanding and expecting quality professional service up front.
Sell Your Home Fast Get The Buyers Perspective
Are you interested in selling your home quickly? Have you tried or are currently attempting to sell a house without much success (be it unable to find a buyer or perhaps not reaching the target price range you were hoping to hit.)?
If you are having these kinds of problems, there are many reasons as to why you might not be having much success with your sale, but don’t despair as these obstacles can be overcome. To sell your home fast, you simply need to see things from the buyer's point of view. The more you understand the wants and needs of home buyers, the better your marketing strategy will be.
The Smart Home Seller
A Smart Home Seller knows that, “first impressions are lasting impressions.” To market your home successfully doesn’t mean that the home must be overhauled with renovations or improvements, it simply means that the home must be prepared for selling. Such conservative improvements can range from simple repairs to a fresh paint job or simply a good cleaning.
When presenting a home to a buyer, the first glimpse the buyer has of the house (referred to as "curb appeal") often times triggers the attitude they have toward purchasing the home. Think of it like when meeting a person for the first time; you know it's the first 30 seconds that counts the most. Because of this first impression axiom, you want the outside of your house to be in optimal selling condition. Bringing a home into selling condition doesn’t mean a great deal of money has to be spent; it’s simply making the face of the home presentable. Cleaning the front lawn, removing any Christmas lights and trimming grass are just a few inexpensive things that can be done to give your home a face-lift. (Extra Tip: Planting flowers and such at the front of your home can successfully give your house a touch of color along with a very clean appearance. This is very inexpensive and can do wonders for a first impression. )
Creating the "Right Look"
There are many ways to prepare your home for sale, and most of them are extremely cost efficient and inexpensive. When selling your home, you need to remember that you wish to make the buyer feel as though they are looking at a home they can see themselves in. This means that the home must adopt a clean and neutral atmosphere.
Attaining a neutral atmosphere is simply making your house an open canvas, so to speak. The home needs to be relieved of any statements or personalization that might be present. Such statements can be things such as deer head displays or bear skin rugs; while these may appeal to the seller, it could be offensive or a turn-off to the buyer. When dealing with depersonalization, it’s good to remove anything that may establish the home as “Someone else’s house.” Such personalizing objects are things such as pictures, wall posters or trophies. By creating a Neutral atmosphere, you will have cleaned your home in such a way that potential buyers will feel comfortable and free to picture themselves living in that house.
When dealing with the question of how to sell your home fast, it’s best to keep in mind that there are many tips and tricks to the home selling market. The best method to achieving success in selling your home is to learn what the buyer is looking for, then preparing your home for sale accordingly.
If you are having these kinds of problems, there are many reasons as to why you might not be having much success with your sale, but don’t despair as these obstacles can be overcome. To sell your home fast, you simply need to see things from the buyer's point of view. The more you understand the wants and needs of home buyers, the better your marketing strategy will be.
The Smart Home Seller
A Smart Home Seller knows that, “first impressions are lasting impressions.” To market your home successfully doesn’t mean that the home must be overhauled with renovations or improvements, it simply means that the home must be prepared for selling. Such conservative improvements can range from simple repairs to a fresh paint job or simply a good cleaning.
When presenting a home to a buyer, the first glimpse the buyer has of the house (referred to as "curb appeal") often times triggers the attitude they have toward purchasing the home. Think of it like when meeting a person for the first time; you know it's the first 30 seconds that counts the most. Because of this first impression axiom, you want the outside of your house to be in optimal selling condition. Bringing a home into selling condition doesn’t mean a great deal of money has to be spent; it’s simply making the face of the home presentable. Cleaning the front lawn, removing any Christmas lights and trimming grass are just a few inexpensive things that can be done to give your home a face-lift. (Extra Tip: Planting flowers and such at the front of your home can successfully give your house a touch of color along with a very clean appearance. This is very inexpensive and can do wonders for a first impression. )
Creating the "Right Look"
There are many ways to prepare your home for sale, and most of them are extremely cost efficient and inexpensive. When selling your home, you need to remember that you wish to make the buyer feel as though they are looking at a home they can see themselves in. This means that the home must adopt a clean and neutral atmosphere.
Attaining a neutral atmosphere is simply making your house an open canvas, so to speak. The home needs to be relieved of any statements or personalization that might be present. Such statements can be things such as deer head displays or bear skin rugs; while these may appeal to the seller, it could be offensive or a turn-off to the buyer. When dealing with depersonalization, it’s good to remove anything that may establish the home as “Someone else’s house.” Such personalizing objects are things such as pictures, wall posters or trophies. By creating a Neutral atmosphere, you will have cleaned your home in such a way that potential buyers will feel comfortable and free to picture themselves living in that house.
When dealing with the question of how to sell your home fast, it’s best to keep in mind that there are many tips and tricks to the home selling market. The best method to achieving success in selling your home is to learn what the buyer is looking for, then preparing your home for sale accordingly.
Professional Online Conveyancing Guide
Your guide to professional online conveyancing.
"By the end of the whole ordeal we had just literally drowned ourselves in paperwork - why why why did we not just leave it to the professionals?" - Martine James.
As Martine is acutely aware, buying or selling your house can be a real headache especially when it comes to the legal paperwork you are responsible for organising. Some home owners try to do it alone, but most turn to a solicitor or professional online conveyancing expert. A licensed conveyancer is particularly qualified to do this manner of legal work on your behalf - and hiring one may well be the wisest decision you make for the sale or purchase of your house.
Personal Solicitor or Professional Online Conveyancing?
When buying a new TV, do you want advice from the guy who has to worry about TVs, Videos, Computers and everything else - or do you want the TV specialists? This crucial decision can result in your conveyancing process being hassle free or only the start of a legal nightmare. Go for the pros; professional online conveyancing companies provide solicitors who specialise in helping you buy or sell your home at the best price for you and they take care of the searches, surveys and all manner of complications that you would otherwise need to worry about yourself. It really is the best of both worlds.
The Nitty-Gritty of Home Buying/Selling
As those with experience know - buying or selling a house can be fraught with potential traps. Are you sitting on a coal mine? Is the government about to build a new road across your front porch? Is Tesco's about to open up the latest superstore next door? A professional online conveyancing team can answer all these questions for you - without you having to lift a finger. They also manage the survey of the house for you, so if you're buying and want to know what repairs might need doing (in order to renegotiate that final ten thousand!) they will find out for you.
By default, and by law, not all searches are required to be undertaken. Your lender will insist that your professional online conveyancing specialist does a drainage search, to check if waste water drains into the public sewers or into a private sewer. They may also insist that a land registry check be undertaken to ensure the property in question hasn't changed hands. Finally, a land charges search will check that you're not bankrupt. Professional online conveyancing solicitors do the additional checks for you - to cover all the angles.
Handling the Changeover
Professional online conveyancing solicitors can handle things for you right up to, and sometimes beyond, the moment you walk into your new house. They will communicate with the other party's solicitor and arrange a handover date and completion date. If you like, they can even handle the last minute negotiations for you.
"Once I finally convinced Mark to hire a professional, things instantly picked up. We've been able to concentrate on the things that matter to us and leave the legal complications to the professional online conveyancing people." - Martine James.
"By the end of the whole ordeal we had just literally drowned ourselves in paperwork - why why why did we not just leave it to the professionals?" - Martine James.
As Martine is acutely aware, buying or selling your house can be a real headache especially when it comes to the legal paperwork you are responsible for organising. Some home owners try to do it alone, but most turn to a solicitor or professional online conveyancing expert. A licensed conveyancer is particularly qualified to do this manner of legal work on your behalf - and hiring one may well be the wisest decision you make for the sale or purchase of your house.
Personal Solicitor or Professional Online Conveyancing?
When buying a new TV, do you want advice from the guy who has to worry about TVs, Videos, Computers and everything else - or do you want the TV specialists? This crucial decision can result in your conveyancing process being hassle free or only the start of a legal nightmare. Go for the pros; professional online conveyancing companies provide solicitors who specialise in helping you buy or sell your home at the best price for you and they take care of the searches, surveys and all manner of complications that you would otherwise need to worry about yourself. It really is the best of both worlds.
The Nitty-Gritty of Home Buying/Selling
As those with experience know - buying or selling a house can be fraught with potential traps. Are you sitting on a coal mine? Is the government about to build a new road across your front porch? Is Tesco's about to open up the latest superstore next door? A professional online conveyancing team can answer all these questions for you - without you having to lift a finger. They also manage the survey of the house for you, so if you're buying and want to know what repairs might need doing (in order to renegotiate that final ten thousand!) they will find out for you.
By default, and by law, not all searches are required to be undertaken. Your lender will insist that your professional online conveyancing specialist does a drainage search, to check if waste water drains into the public sewers or into a private sewer. They may also insist that a land registry check be undertaken to ensure the property in question hasn't changed hands. Finally, a land charges search will check that you're not bankrupt. Professional online conveyancing solicitors do the additional checks for you - to cover all the angles.
Handling the Changeover
Professional online conveyancing solicitors can handle things for you right up to, and sometimes beyond, the moment you walk into your new house. They will communicate with the other party's solicitor and arrange a handover date and completion date. If you like, they can even handle the last minute negotiations for you.
"Once I finally convinced Mark to hire a professional, things instantly picked up. We've been able to concentrate on the things that matter to us and leave the legal complications to the professional online conveyancing people." - Martine James.
Its Only An Oven
If you have ever tried to sell your house, you know that there is a feature found in the kitchen that can make or break the sale. We are not talking about spacious cabinets a farm sink or a glorious pantry; rather we are referring to the oven. People are extremely loyal to the types of ovens they are used to and I am sure that more than one couple has absolutely loved a house but failed to make an offer because the wife refused to consider a house with an electric oven. While there are a few other cooking options out there, the two most popular choices are an oven run by natural gas or electricity, so what is the real difference between a gas oven and an electric oven?
A gas oven is the better choice for roasting. Heated by a flame that is powered by natural gas, the temperature can fluctuate slightly, making baking a game of guesswork. It is hard to bake a prefect batch of cookies when the heat in the oven can be slightly different with each cookie sheet you slide onto a rack. Electric ovens are much better at baking because their heat is even and steady. They aren’t so good at roasting or broiling and can produce meat that is a little on the dry side if you cook it at too high a temperature. Of course the optimal choice is to have both in your kitchen, a gas stove for roasting leg of lamb and an electric stove for baking pastries.
Often the decision of which type of oven to buy is really made based on what type of stove you prefer. If you are purchasing a range that includes the stove, you have to take the burner into account when deciding what to purchase. When it comes to stoves, gas ranges provide a heat that is much easier to control. When you turn the burner down, the flame receded causing the heat in the pan to immediately drop. When you turn down the burner on an electric stove, the temperature of the burner has to drop naturally before the temperature in the pan can go down. It is very easy to over cook food on an electric stove, and takes a bit of getting used to before you can time things to perfection.
When it comes to savings, electric ovens tend to be a little more expensive to run than gas ovens. It costs more per minute to pay for the electricity to run and electric oven than it does for the gas to run a gas oven. It even costs more to run a microwave than it does to run a gas oven. While the cost of running an electric oven is more, if you were to comparison shop for a gas oven and an electric oven that were of similar capacity, the gas oven would probably cost you more.
As far as safety is concerned, either oven should be safe, although with gas ovens there is always a risk of a leak While this is possible, it is highly unlikely.
When it comes right down to it, there really isn’t an answer for the question which oven is better, gas or electric. The truth is that the answer to which oven you should own is a highly individual one that has to take into account your cooking style, price range, and of course the most important factor, what type of hookup your kitchen has.
A gas oven is the better choice for roasting. Heated by a flame that is powered by natural gas, the temperature can fluctuate slightly, making baking a game of guesswork. It is hard to bake a prefect batch of cookies when the heat in the oven can be slightly different with each cookie sheet you slide onto a rack. Electric ovens are much better at baking because their heat is even and steady. They aren’t so good at roasting or broiling and can produce meat that is a little on the dry side if you cook it at too high a temperature. Of course the optimal choice is to have both in your kitchen, a gas stove for roasting leg of lamb and an electric stove for baking pastries.
Often the decision of which type of oven to buy is really made based on what type of stove you prefer. If you are purchasing a range that includes the stove, you have to take the burner into account when deciding what to purchase. When it comes to stoves, gas ranges provide a heat that is much easier to control. When you turn the burner down, the flame receded causing the heat in the pan to immediately drop. When you turn down the burner on an electric stove, the temperature of the burner has to drop naturally before the temperature in the pan can go down. It is very easy to over cook food on an electric stove, and takes a bit of getting used to before you can time things to perfection.
When it comes to savings, electric ovens tend to be a little more expensive to run than gas ovens. It costs more per minute to pay for the electricity to run and electric oven than it does for the gas to run a gas oven. It even costs more to run a microwave than it does to run a gas oven. While the cost of running an electric oven is more, if you were to comparison shop for a gas oven and an electric oven that were of similar capacity, the gas oven would probably cost you more.
As far as safety is concerned, either oven should be safe, although with gas ovens there is always a risk of a leak While this is possible, it is highly unlikely.
When it comes right down to it, there really isn’t an answer for the question which oven is better, gas or electric. The truth is that the answer to which oven you should own is a highly individual one that has to take into account your cooking style, price range, and of course the most important factor, what type of hookup your kitchen has.
Is Now A Good Time To Sell Your Home
With home prices rising to higher and higher levels, more and more homeowners have been wondering if the time is right to take the appreciation in their current homes and get out before the market begins to cool off. While there is no way to tell when the housing market is at its top, the housing mania we have seen does have some troubling similarities to the dot.com boom that typified the late nineties.
No doubt the housing boom has some viability to it, and unlike a stock a house represents a real item, of real value. In addition, the boom in housing has been fueled by record low interest rates, and by many new mortgage products, including interest only mortgages and negative amortization loans.
These new mortgage products are part of what many people perceive as the inherent danger of the current housing market. In many hot parts of the country, like California, so-called interest only mortgages in which homebuyers pay only the interest due on the loans for a number of years, represent up to half of all new mortgage loans. The downside of these loans happens, of course, after the initial interest only period has ended. For many such loans, that day of reckoning is fast approaching, and it remains to be seen what kind of effect this will have on the market.
Over the past few years, there has not really been a bad time to sell a house. The overall trend has been, and continues to be, up. What seems to be changing is the rate of price appreciation. While up until recently waiting only a couple of months could mean getting an extra 10% or 20% for the home, the rate of appreciation seems to have slowed for some of the hotter markets around the country.
Housing marketing is cooling gradually
At the beginning of the year, the National Association of Realtors issued a forecast predicting that the market will normalize during 2006. While in 2005 the average appreciation rate for existing homes came in at 13%, with large segments of the market seeing far greater gains, that trend is not expected to continue. While the National Association of Realtors expects the market for new and existing homes to remain strong, it also foresees a price appreciation of a more modest 5%.
What this means is that while the long predicted bursting of the housing bubble has not happened (and many experts believe it will not occur), there are definitely indications that the easy money has already been made.
Harder to sell now
Other sign that the optimum time to sell a home may be past is the fact that inventories of unsold homes are on the rise, with the fastest rise seen in some of the hottest real estate markets. For instance, the inventory of unsold homes in the suburbs of Boston has raised by more than 50% since January 2005, according to the MLS Property Information Network, Massachusetts.
In past few years, sellers of even marginal properties were often able to realize more than the asking price, due to the frequent bidding wars that often broke out in the hot market. These days buyers will have greater room to negotiate, and to ask sellers for concessions such as help with closing costs. While the market is in no way dead or even in serious decline, it does seem to be becoming more of a buyer's market.
Moreover, many home owners may realize they can't even afford to sell after they do the math. There are costs involved in selling a house, this including loan payoff, real estate commission, closing cost, property tax, attorney cost and all these costs add up. Nevertheless, the common reason that home owners can't afford to sell is because they borrowed too much.
So, is this a good time to sell your home?
The run up in home prices over the past few years have left many homeowners, especially those living in hot markets, with tens of thousands, or even hundreds of thousands of dollars in potential profits. The idea to cash in the house and make a tidy profit while hoping the market to cool with the intention to find some bargains later is a high stakes bet. Unless you're ' house flipping', otherwise it probably makes more sense for current homeowner, who is benefiting from a low mortgage rate, to stay where they are.
Real estate market has a cyclical trend with ups and downs. To cash out now so you can buy again in twelve or eighteen months later is similar to stock day trading. It is not an excellent idea to speculate for most people as they're not dealing with just money but with a real asset with real value. Most importantly, it is where the family is living in. And if home owner sells their house now, they just have to buy another house that's just as equally expensive if not more!
However, the move to sell now and make a profit is perhaps less risky proposition for those homeowners who are seeking to downsize their lifestyle or who are near their retirement, to move to a less expensive area. For example from New York City, to a less pricey market, such as Atlanta.
The key challenge in a hot market, even for homeowners with substantial gains, is finding a suitable property at an affordable price. Many homeowners have found that buying a smaller home is a good way to lock in the gain on an appreciated home, as is moving to a less expensive housing market. There are plenty of affordable housing markets left around the country. And those people moving to these areas are often quite surprised at how far their housing dollars can go.
Furthermore, there is always the rental market. In most of the hottest housing markets around the country, rental price appreciation has not kept pace with the rise in housing prices, meaning that many former homeowners are opting to rent for a year or two while they wait for home prices to stabilize. This can certainly be a good strategy, and it can leave smart homeowners with a great deal more home for their money in the long run.
No doubt the housing boom has some viability to it, and unlike a stock a house represents a real item, of real value. In addition, the boom in housing has been fueled by record low interest rates, and by many new mortgage products, including interest only mortgages and negative amortization loans.
These new mortgage products are part of what many people perceive as the inherent danger of the current housing market. In many hot parts of the country, like California, so-called interest only mortgages in which homebuyers pay only the interest due on the loans for a number of years, represent up to half of all new mortgage loans. The downside of these loans happens, of course, after the initial interest only period has ended. For many such loans, that day of reckoning is fast approaching, and it remains to be seen what kind of effect this will have on the market.
Over the past few years, there has not really been a bad time to sell a house. The overall trend has been, and continues to be, up. What seems to be changing is the rate of price appreciation. While up until recently waiting only a couple of months could mean getting an extra 10% or 20% for the home, the rate of appreciation seems to have slowed for some of the hotter markets around the country.
Housing marketing is cooling gradually
At the beginning of the year, the National Association of Realtors issued a forecast predicting that the market will normalize during 2006. While in 2005 the average appreciation rate for existing homes came in at 13%, with large segments of the market seeing far greater gains, that trend is not expected to continue. While the National Association of Realtors expects the market for new and existing homes to remain strong, it also foresees a price appreciation of a more modest 5%.
What this means is that while the long predicted bursting of the housing bubble has not happened (and many experts believe it will not occur), there are definitely indications that the easy money has already been made.
Harder to sell now
Other sign that the optimum time to sell a home may be past is the fact that inventories of unsold homes are on the rise, with the fastest rise seen in some of the hottest real estate markets. For instance, the inventory of unsold homes in the suburbs of Boston has raised by more than 50% since January 2005, according to the MLS Property Information Network, Massachusetts.
In past few years, sellers of even marginal properties were often able to realize more than the asking price, due to the frequent bidding wars that often broke out in the hot market. These days buyers will have greater room to negotiate, and to ask sellers for concessions such as help with closing costs. While the market is in no way dead or even in serious decline, it does seem to be becoming more of a buyer's market.
Moreover, many home owners may realize they can't even afford to sell after they do the math. There are costs involved in selling a house, this including loan payoff, real estate commission, closing cost, property tax, attorney cost and all these costs add up. Nevertheless, the common reason that home owners can't afford to sell is because they borrowed too much.
So, is this a good time to sell your home?
The run up in home prices over the past few years have left many homeowners, especially those living in hot markets, with tens of thousands, or even hundreds of thousands of dollars in potential profits. The idea to cash in the house and make a tidy profit while hoping the market to cool with the intention to find some bargains later is a high stakes bet. Unless you're ' house flipping', otherwise it probably makes more sense for current homeowner, who is benefiting from a low mortgage rate, to stay where they are.
Real estate market has a cyclical trend with ups and downs. To cash out now so you can buy again in twelve or eighteen months later is similar to stock day trading. It is not an excellent idea to speculate for most people as they're not dealing with just money but with a real asset with real value. Most importantly, it is where the family is living in. And if home owner sells their house now, they just have to buy another house that's just as equally expensive if not more!
However, the move to sell now and make a profit is perhaps less risky proposition for those homeowners who are seeking to downsize their lifestyle or who are near their retirement, to move to a less expensive area. For example from New York City, to a less pricey market, such as Atlanta.
The key challenge in a hot market, even for homeowners with substantial gains, is finding a suitable property at an affordable price. Many homeowners have found that buying a smaller home is a good way to lock in the gain on an appreciated home, as is moving to a less expensive housing market. There are plenty of affordable housing markets left around the country. And those people moving to these areas are often quite surprised at how far their housing dollars can go.
Furthermore, there is always the rental market. In most of the hottest housing markets around the country, rental price appreciation has not kept pace with the rise in housing prices, meaning that many former homeowners are opting to rent for a year or two while they wait for home prices to stabilize. This can certainly be a good strategy, and it can leave smart homeowners with a great deal more home for their money in the long run.
The Power Of A Home Parade
Parade of homes happens for two reasons: to flaunt beautiful homes then urge people to buy those beautiful homes. Such a parade is a big event across America. Hawaii holds its "BIA Parade of Homes" annually. New Mexico has its "Homes of Enchantment Parade." Other states have their own grand counterparts.
These parades exhibit the new constructed homes in town and if you want to coax people to buy your property, then spot them in one.
Here are more reasons and facts you should know why local parade homes gives real estate leads:
1. Parade of Homes attracts the curious.
Those who want to know what are the latest luxury homes troop to these local parades. Be on the lookout for these people because you might urge them to be more than curious. A little tap and chitchat might enable them to consider buying a home.
2. Parade of Homes provides a vision and a dream.
The local parade is a gathering of people who are dreaming to snag their dream property. As a real estate agent, use this to your advantage. Let your prospects know that their dream is in your hands. Entice them. Charm them. The parade, which displays the latest in architectural design, will surely catch the buyers' fancy.
3. Parade of Homes also gives you an idea for competition.
Your company will compete side by side with other real estate and development companies. This enables you to gauge their capacities, strengths and even shortcomings. You can then work on your company's attributes and exert more effort for real estate leads to come your way.
4. Parade of Homes allows networking.
The parade is not only for the subcontractors and developers, but also for those in the interior design, landscape and pool business. Get to know them. Establish a connection. Once you do, word that you have what it takes to build that dream house will travel faster.
5. Parade of Homes attracts multiple buyers.
If the parade has higher value per lot, then more buyers will flock to size up the homes and get themselves one. Be sure you are always on the lookout for these people who have already made up their minds that they are going to buy, by hook or by crook.
A local parade does so much to real estate agents. The real estate leads are everywhere, you just have to know where to find them.
These parades exhibit the new constructed homes in town and if you want to coax people to buy your property, then spot them in one.
Here are more reasons and facts you should know why local parade homes gives real estate leads:
1. Parade of Homes attracts the curious.
Those who want to know what are the latest luxury homes troop to these local parades. Be on the lookout for these people because you might urge them to be more than curious. A little tap and chitchat might enable them to consider buying a home.
2. Parade of Homes provides a vision and a dream.
The local parade is a gathering of people who are dreaming to snag their dream property. As a real estate agent, use this to your advantage. Let your prospects know that their dream is in your hands. Entice them. Charm them. The parade, which displays the latest in architectural design, will surely catch the buyers' fancy.
3. Parade of Homes also gives you an idea for competition.
Your company will compete side by side with other real estate and development companies. This enables you to gauge their capacities, strengths and even shortcomings. You can then work on your company's attributes and exert more effort for real estate leads to come your way.
4. Parade of Homes allows networking.
The parade is not only for the subcontractors and developers, but also for those in the interior design, landscape and pool business. Get to know them. Establish a connection. Once you do, word that you have what it takes to build that dream house will travel faster.
5. Parade of Homes attracts multiple buyers.
If the parade has higher value per lot, then more buyers will flock to size up the homes and get themselves one. Be sure you are always on the lookout for these people who have already made up their minds that they are going to buy, by hook or by crook.
A local parade does so much to real estate agents. The real estate leads are everywhere, you just have to know where to find them.
Real Estate For Sale Pointers To Consider
When you sell an item, what is the first thing that comes to your mind? Is it the quality of the product or the profit?
It is a common belief that the primary concern in selling a property is to acquire profit that is not only above your initial output but even beyond that. However, as a credible seller, profit should not only be your priority if you care for your customer.
The good quality of the product must be considered first above all other factors. If you meet the standard set by your customer, everything will just follow. You will not only enjoy more gain but also more customers who will seek you ought for more and even refer you to others.
Likewise, selling real estate is not easy. You will not simply be aware of your earnings but on how you can maintain a good name. The best way to achieve it is through selling with quality.
Selling real estate doesn’t have to be done by a team or group of professionals all the time. You too can invest in real estate for sale. You can act as a part time real estate agent or maybe start of by selling your own home. Many solo real estate agents have started off by investing in a real estate by purchasing it and selling it off for a profit.
Here are some trips on selling real estate property alone or with an agent.
1. Confirm the value of your property- This is fundamental. If you want to sell your property with a real estate broker, the broker will give you an approximate market value of your property. But when you are going to sell it by yourself, it is best that you make an assessment and comparison about its value in the market.
2. Total all the cost of selling your property- It is good if you have a broker because he will provide you with the estimated closing cost of your property. However, if you will be the one to sell it, you can consult an advice from an attorney about the possible closing cost.
3. Identify all the credits and loans against the property for sale- It is important because it will affect the total cost of the property that you are about to sell.
4. Proceed to the computation. Every item even a single cent is important. When you calculate, you subtract the total amount owing against the property from the estimated gain of the sale.
5. Coordinate with the lenders- You can seek assistance from the proper individuals that can give you advice.
6. Consult the lender about terms and conditions- It will help you by making arrangement with them to get the most possible proceeds that you can and want to have.
7. Sell the property- This will be the last step. The closing cost of your property will include both the title and the escrow fees. If you prefer to have a broker, you can ask for some discounts to market your property. Likewise, you can also try to negotiate the sales commission with your broker.
Those tips will aid you in keeping track of the value of your property. As a seller, it is your responsibility to fix all the necessary papers that will concern your property. Be sure that when you sell a property, everything is ready. This is a way to prevent hassle when time comes that your customer asks buyout queries.
It is a common belief that the primary concern in selling a property is to acquire profit that is not only above your initial output but even beyond that. However, as a credible seller, profit should not only be your priority if you care for your customer.
The good quality of the product must be considered first above all other factors. If you meet the standard set by your customer, everything will just follow. You will not only enjoy more gain but also more customers who will seek you ought for more and even refer you to others.
Likewise, selling real estate is not easy. You will not simply be aware of your earnings but on how you can maintain a good name. The best way to achieve it is through selling with quality.
Selling real estate doesn’t have to be done by a team or group of professionals all the time. You too can invest in real estate for sale. You can act as a part time real estate agent or maybe start of by selling your own home. Many solo real estate agents have started off by investing in a real estate by purchasing it and selling it off for a profit.
Here are some trips on selling real estate property alone or with an agent.
1. Confirm the value of your property- This is fundamental. If you want to sell your property with a real estate broker, the broker will give you an approximate market value of your property. But when you are going to sell it by yourself, it is best that you make an assessment and comparison about its value in the market.
2. Total all the cost of selling your property- It is good if you have a broker because he will provide you with the estimated closing cost of your property. However, if you will be the one to sell it, you can consult an advice from an attorney about the possible closing cost.
3. Identify all the credits and loans against the property for sale- It is important because it will affect the total cost of the property that you are about to sell.
4. Proceed to the computation. Every item even a single cent is important. When you calculate, you subtract the total amount owing against the property from the estimated gain of the sale.
5. Coordinate with the lenders- You can seek assistance from the proper individuals that can give you advice.
6. Consult the lender about terms and conditions- It will help you by making arrangement with them to get the most possible proceeds that you can and want to have.
7. Sell the property- This will be the last step. The closing cost of your property will include both the title and the escrow fees. If you prefer to have a broker, you can ask for some discounts to market your property. Likewise, you can also try to negotiate the sales commission with your broker.
Those tips will aid you in keeping track of the value of your property. As a seller, it is your responsibility to fix all the necessary papers that will concern your property. Be sure that when you sell a property, everything is ready. This is a way to prevent hassle when time comes that your customer asks buyout queries.
Selling A Home Pricing For Results
Every home seller wants to get the highest price possible but setting the price too high, even if you are willing to take less, may not be the best strategy.
As an example lets assume we have a seller who is working with a good Realtor and through reviewing comparable homes that have recently sold and those on the market it is determined the value of the home is $500,000. The seller may even agree with the agents’ assessment of value but feels it is worth trying to get more. So he requests the house be marketed for $550,000 knowing if he accepts a lower offer it may be higher than the $500,000 originally suggested by the Realtor. The agent does their job, places the home in MLS, provides online photos, prints flyers, advertises in the newspaper and even does open houses. The seller sits and waits to get offers he can negotiate.
At the same time buyers are out looking at homes to buy. They are qualified to buy homes in the $550,000 range and they see the listing and compare it with other similar priced properties. These potential buyers see our example listing is not as large or does not have the number of upgrades or features as other homes selling for $550,000. When there are plenty of houses to look at, buyers will skip some listings and only look at homes where they feel they are getting the most for their money.
They buyers who are qualified to by a $500,000 home are looking in that price range and generally do not want to look at homes much more than $525,000. Taking negotiations in to consideration prices above that amount are likely going to end up being more than they can afford and/or qualify for. These potential buyers will probably not see our example listing priced at $550,000.
In today’s market this situation seems to happen more often than it should and causes homes to sit on the market for long periods of time. With our market of growing inventory levels, listings can become stale very quickly. The first two weeks on the market is the time listings generate the most interest and activity. When homes are on the market for longer than the average time, for a given price range, buyers start feeling hesitant to consider them. It is like the early days in the video rental store where people crowd around the “new release” section and some great movies in the drama isle get no attention. In this situation, it is my experience, even if the seller elects to lower the price to something closer to the market value, they will likely receive less than if they had started with a lower price.
There is a fair amount of research that indicates pricing a home at its market value from the start will generally result in getting an amount closer to the asking price. Sales prices of homes in the Sacramento area have been averaging higher than 97% of asking price. Getting the highest price for a home is best achieved by maximizing the number of potential buyers who see the home and that can be accomplished by avoiding overpricing.
A recent National email survey conducted by House Hunt, Inc and reported in a story by RISMedia indicated that overpricing was the number one mistake home sellers said they made when listing their homes. The margin was nearly three-to-one over the second choice which was “dealing with the same agent who represented the buyer.” That and potential conflicts of interest are good subjects for a future article!
The bottom line in setting the price on a home is to set it within 2 to 3 percent of the market value. This increases your opportunity to sell at the highest price possible and in the shortest amount of time.
As an example lets assume we have a seller who is working with a good Realtor and through reviewing comparable homes that have recently sold and those on the market it is determined the value of the home is $500,000. The seller may even agree with the agents’ assessment of value but feels it is worth trying to get more. So he requests the house be marketed for $550,000 knowing if he accepts a lower offer it may be higher than the $500,000 originally suggested by the Realtor. The agent does their job, places the home in MLS, provides online photos, prints flyers, advertises in the newspaper and even does open houses. The seller sits and waits to get offers he can negotiate.
At the same time buyers are out looking at homes to buy. They are qualified to buy homes in the $550,000 range and they see the listing and compare it with other similar priced properties. These potential buyers see our example listing is not as large or does not have the number of upgrades or features as other homes selling for $550,000. When there are plenty of houses to look at, buyers will skip some listings and only look at homes where they feel they are getting the most for their money.
They buyers who are qualified to by a $500,000 home are looking in that price range and generally do not want to look at homes much more than $525,000. Taking negotiations in to consideration prices above that amount are likely going to end up being more than they can afford and/or qualify for. These potential buyers will probably not see our example listing priced at $550,000.
In today’s market this situation seems to happen more often than it should and causes homes to sit on the market for long periods of time. With our market of growing inventory levels, listings can become stale very quickly. The first two weeks on the market is the time listings generate the most interest and activity. When homes are on the market for longer than the average time, for a given price range, buyers start feeling hesitant to consider them. It is like the early days in the video rental store where people crowd around the “new release” section and some great movies in the drama isle get no attention. In this situation, it is my experience, even if the seller elects to lower the price to something closer to the market value, they will likely receive less than if they had started with a lower price.
There is a fair amount of research that indicates pricing a home at its market value from the start will generally result in getting an amount closer to the asking price. Sales prices of homes in the Sacramento area have been averaging higher than 97% of asking price. Getting the highest price for a home is best achieved by maximizing the number of potential buyers who see the home and that can be accomplished by avoiding overpricing.
A recent National email survey conducted by House Hunt, Inc and reported in a story by RISMedia indicated that overpricing was the number one mistake home sellers said they made when listing their homes. The margin was nearly three-to-one over the second choice which was “dealing with the same agent who represented the buyer.” That and potential conflicts of interest are good subjects for a future article!
The bottom line in setting the price on a home is to set it within 2 to 3 percent of the market value. This increases your opportunity to sell at the highest price possible and in the shortest amount of time.
Friday, December 29, 2006
Selling A Home Remove Clutter
Most sellers understand keeping a house clean and picked-up but have difficulty understanding how to really remove clutter. It is more than keeping the house neat. Try some of the following and impress your agent and, more importantly, potential buyers.
The first task I suggest it to pretend you are not the owner or even that you have ever seen the house before. Tour your property both inside and outside and make a list of anything you see that catches your eye and takes away from the homes appeal. These will be offensive to your eye such as toys in the front yard, hoses that are not put away, busy shelves and too many items on the mantel. It could also be stacks of magazines or newspapers. Make the tour several times and keep adding to your list. The more you notice the less the potential buyers will.
Most home owners, including myself, are attached to our home, how we have decorated it and our possessions we proudly display. Sellers must accept the fact they will not be in the house much longer and be willing to repaint rooms with neutral colors, remove pictures and put away those souvenirs from last years vacation. A good idea is to start by removing most of your personal items from each room. Get boxes or storage containers to store your items. Approach the removing clutter as if you are staging or preparing a model home for viewing by buyers. Remember you want the buyers to be able to imagine their belongings in the house.
You will know if you have successfully removed clutter in your home by the number of boxes or storage containers you have when you are done. Your first thought may be to put all these boxes neatly in a closet. Resist the temptation and consider closet space can be a selling feature. They too should look as good as possible. Not overly packed closets will help create a spacious feeling in your home. If your closets are packed full or messy, the potential buyer may get the feeling the house is not big enough.
Don’t overlook your garage as this is the place most of us consider as a storage area. Find a friend, neighbor or family member willing to store your boxes and containers. If this is not possible consider renting a storage facility on a short term basis. Selling your home quickly and at a higher price will more than cover the cost.
After making your tours, list and removing your personal item I suspect your real estate agent will still think you have too much in the house. Don’t be timid about asking your agent to help point out these final few items. We spend a fair amount of time in homes and have a good feel for which ones show best and why. If you ask, be prepared to accept their suggestions. We are here to help you sell your house, not be critical of your possessions.
If all of this seems more than you want to cope with, consider using a professional stager. They can remove clutter and even help you bring in items that will make your house look like a model home. Again selling quickly and for the best price possible can more than pay for this service. Like above, consult your agent, they can help you make this decision.
The first task I suggest it to pretend you are not the owner or even that you have ever seen the house before. Tour your property both inside and outside and make a list of anything you see that catches your eye and takes away from the homes appeal. These will be offensive to your eye such as toys in the front yard, hoses that are not put away, busy shelves and too many items on the mantel. It could also be stacks of magazines or newspapers. Make the tour several times and keep adding to your list. The more you notice the less the potential buyers will.
Most home owners, including myself, are attached to our home, how we have decorated it and our possessions we proudly display. Sellers must accept the fact they will not be in the house much longer and be willing to repaint rooms with neutral colors, remove pictures and put away those souvenirs from last years vacation. A good idea is to start by removing most of your personal items from each room. Get boxes or storage containers to store your items. Approach the removing clutter as if you are staging or preparing a model home for viewing by buyers. Remember you want the buyers to be able to imagine their belongings in the house.
You will know if you have successfully removed clutter in your home by the number of boxes or storage containers you have when you are done. Your first thought may be to put all these boxes neatly in a closet. Resist the temptation and consider closet space can be a selling feature. They too should look as good as possible. Not overly packed closets will help create a spacious feeling in your home. If your closets are packed full or messy, the potential buyer may get the feeling the house is not big enough.
Don’t overlook your garage as this is the place most of us consider as a storage area. Find a friend, neighbor or family member willing to store your boxes and containers. If this is not possible consider renting a storage facility on a short term basis. Selling your home quickly and at a higher price will more than cover the cost.
After making your tours, list and removing your personal item I suspect your real estate agent will still think you have too much in the house. Don’t be timid about asking your agent to help point out these final few items. We spend a fair amount of time in homes and have a good feel for which ones show best and why. If you ask, be prepared to accept their suggestions. We are here to help you sell your house, not be critical of your possessions.
If all of this seems more than you want to cope with, consider using a professional stager. They can remove clutter and even help you bring in items that will make your house look like a model home. Again selling quickly and for the best price possible can more than pay for this service. Like above, consult your agent, they can help you make this decision.
FSBOs Safety Tips For Selling Your Home
Home sellers not only need to think and act like a realtor in finding potential buyers for their homes, but also like a personal security agent too.
Sellers need to keep their safety in mind when prospecting potential buyers. The real estate industry has seen a problematic climb in assaults towards realtors, and so is the concern for those who are selling their own homes.
Here are the top 7 ways to protect you, your family, and your home, from being victimized:
1. Fully screen callers before allowing them an appointment for seeing your home. Ask all the questions: name, existing address, and telephone number. Where are they employed? Why are they looking to buy? Do they have a family in the area? Do they have any children? Ask them as many questions until you feel comfortable with this person.
2. Do not let unannounced visitors into your home unless you have their information first. If you are alone in the house, have them come back later when there are others home. There is no reason why someone cannot make an appointment with you. Make sure there is more than one person in your home when showing your property. Remember, safety in numbers.
3. If you must show your home alone keep a cell phone with you. If you are in danger of a potential buyer, you can easily call 911 for help. In the event in needing to get away from someone run out of the house into your vehicle or neighbor’s house. Remember, your life is more important than property. Most criminals interviewed say they do not want to harm anyone when taking property, but if a person puts up a fight, so do they. Property and things in your home can be replaced, your life cannot!
4. Tell your children, even if they are older to not let anyone in the house unless you are there. Even teenage children should not let anyone into the house. More assaults are committed on young people from the ages of 15- 25 years of age than any other age group.
5. Be very aware of virtual tours. If a virtual tour is an option for selling your home, make sure there are no expensive objects in the room(s). Criminals look for opportunities such as these to target homes to burglarize.
6. Let neighbors know you are selling your home. Check with them on a regular basis to see if anyone has been around the house when you are not there. Criminals will use an open house, or a walk-through to pose as a potential buyer to scope out properties to burglarize later.
7. Keeping the curb appeal not only adds value when you are selling a home, but adds to the safety of your home as well. Criminals say they look for high bushes near windows, not well-lit areas of a home, and concealed entrances to gain access to a home. Keep bushes trimmed low, repair or add higher wattage light bulbs to existing lights, and keep entrances well lit for prevention.
Sellers need to keep their safety in mind when prospecting potential buyers. The real estate industry has seen a problematic climb in assaults towards realtors, and so is the concern for those who are selling their own homes.
Here are the top 7 ways to protect you, your family, and your home, from being victimized:
1. Fully screen callers before allowing them an appointment for seeing your home. Ask all the questions: name, existing address, and telephone number. Where are they employed? Why are they looking to buy? Do they have a family in the area? Do they have any children? Ask them as many questions until you feel comfortable with this person.
2. Do not let unannounced visitors into your home unless you have their information first. If you are alone in the house, have them come back later when there are others home. There is no reason why someone cannot make an appointment with you. Make sure there is more than one person in your home when showing your property. Remember, safety in numbers.
3. If you must show your home alone keep a cell phone with you. If you are in danger of a potential buyer, you can easily call 911 for help. In the event in needing to get away from someone run out of the house into your vehicle or neighbor’s house. Remember, your life is more important than property. Most criminals interviewed say they do not want to harm anyone when taking property, but if a person puts up a fight, so do they. Property and things in your home can be replaced, your life cannot!
4. Tell your children, even if they are older to not let anyone in the house unless you are there. Even teenage children should not let anyone into the house. More assaults are committed on young people from the ages of 15- 25 years of age than any other age group.
5. Be very aware of virtual tours. If a virtual tour is an option for selling your home, make sure there are no expensive objects in the room(s). Criminals look for opportunities such as these to target homes to burglarize.
6. Let neighbors know you are selling your home. Check with them on a regular basis to see if anyone has been around the house when you are not there. Criminals will use an open house, or a walk-through to pose as a potential buyer to scope out properties to burglarize later.
7. Keeping the curb appeal not only adds value when you are selling a home, but adds to the safety of your home as well. Criminals say they look for high bushes near windows, not well-lit areas of a home, and concealed entrances to gain access to a home. Keep bushes trimmed low, repair or add higher wattage light bulbs to existing lights, and keep entrances well lit for prevention.
7 Tips To Help You Sell Your Home Yourself
Now that you’ve decided to sell your home on your own, you might be wondering just what needs to be done in order to make a successful sale.
You want to get the most money possible for your home. Fortunately, the process in doing this is very simple. Here are 7 tips that you can use when selling your home on your own.
1. Value your property
You need to know just how much your property is worth on the open market. You can easily get this information about real estate prices in your area by entering your zip code information in an online database, or you can choose to hire a property appraiser. I would not recommend a real estate agent, as he/she is likely to try to change your mind. A little bit of research can really make this easy.
2. Timing
Location is not the only key to successful real estate dealings. Obviously, some home sales are forced forward due to circumstances that need immediate action for example a change of job or a divorce. However, if you can choose when you go on the market then you are going to want to start the selling process when the demand for homes in your area is high. That will assure you a better price on your home. You also want to strike when economy is booming because people will pay more for the home than in a bad economy.
3. Preparing your home
Presentation is everything in real estate sales. Homebuyers are attracted to clean, spacious and attractive houses. You are going to want to brighten-up the house and remove all of the clutter from counter tops, tables and rooms. Scrub-down your house from top to bottom before you even consider letting someone inside of it for a tour. Would you buy a dirty house?
4. Get a real estate lawyer
I know that this will cost you some money but it is worth it. An experienced real estate lawyer can help you evaluate your offers. They will act as an escrow agent to hold the down payment, evaluate complex mortgages and/or leases with options to buy, review contracts and handle your home's closing process. They will also help you to draw up your contracts etc.
5. Marketing your home
You can use a website like For Sale by Owner.com to help provide you with home exposure. Let’s face it; selling your home would be almost impossible if no one knew that it was on the market. You should also place some ads in classifieds and penny savers in your areas as well. Advertise with pictures as much as possible.
6. Home inspections
All standard real estate contracts are going to give the homebuyer the right to inspect your property so you are going to need to be ready for this. Have your home inspected before you advertise. Under a general inspection, you are obligated to make major repairs to appliances, plumbing, septic, electrical and heating systems etc. You can expect your home’s roof etc. to be inspected too. Any recommendations that are made do them all!
7. Closing
When it is time to close on an offer that a buyer had made, take the offer to your lawyer and have a deal made.
With proper planning and good advice, you’ll be able to save thousands of dollars by selling your home privately. Invest the time to gather all the information and education you need first. It will save you both time and money in the end.
You want to get the most money possible for your home. Fortunately, the process in doing this is very simple. Here are 7 tips that you can use when selling your home on your own.
1. Value your property
You need to know just how much your property is worth on the open market. You can easily get this information about real estate prices in your area by entering your zip code information in an online database, or you can choose to hire a property appraiser. I would not recommend a real estate agent, as he/she is likely to try to change your mind. A little bit of research can really make this easy.
2. Timing
Location is not the only key to successful real estate dealings. Obviously, some home sales are forced forward due to circumstances that need immediate action for example a change of job or a divorce. However, if you can choose when you go on the market then you are going to want to start the selling process when the demand for homes in your area is high. That will assure you a better price on your home. You also want to strike when economy is booming because people will pay more for the home than in a bad economy.
3. Preparing your home
Presentation is everything in real estate sales. Homebuyers are attracted to clean, spacious and attractive houses. You are going to want to brighten-up the house and remove all of the clutter from counter tops, tables and rooms. Scrub-down your house from top to bottom before you even consider letting someone inside of it for a tour. Would you buy a dirty house?
4. Get a real estate lawyer
I know that this will cost you some money but it is worth it. An experienced real estate lawyer can help you evaluate your offers. They will act as an escrow agent to hold the down payment, evaluate complex mortgages and/or leases with options to buy, review contracts and handle your home's closing process. They will also help you to draw up your contracts etc.
5. Marketing your home
You can use a website like For Sale by Owner.com to help provide you with home exposure. Let’s face it; selling your home would be almost impossible if no one knew that it was on the market. You should also place some ads in classifieds and penny savers in your areas as well. Advertise with pictures as much as possible.
6. Home inspections
All standard real estate contracts are going to give the homebuyer the right to inspect your property so you are going to need to be ready for this. Have your home inspected before you advertise. Under a general inspection, you are obligated to make major repairs to appliances, plumbing, septic, electrical and heating systems etc. You can expect your home’s roof etc. to be inspected too. Any recommendations that are made do them all!
7. Closing
When it is time to close on an offer that a buyer had made, take the offer to your lawyer and have a deal made.
With proper planning and good advice, you’ll be able to save thousands of dollars by selling your home privately. Invest the time to gather all the information and education you need first. It will save you both time and money in the end.
The 10 Day Plan To Getting Your House Ready To Sell Privately
Fixing up, cleaning and polishing your home is a big part of selling it quickly. To get it in first-rate condition fast, here are some tips to help. You can either hire someone to complete them, or do them yourself. Either way, you’ll end up with a home that is in great shape.
Day 1
Today, start by cutting back the hedges. Getting rid of over- growth will open up the front of the house, so the buyers can see the house more easily. Next, cut and trim the lawn, and do any necessary weeding to the gardens. Sweep the driveway, and clean the outside lights. When the potential buyer pulls into the driveway for the first time, they will notice all your hard work!
Day 2
Get the paintbrush out! Chances are, the front door and the trim could use some fresh paint. If your home is more than 10 years old, you may consider updating the color combination. Color trends change over time, and a color change can update the appearance of your home.
Day 3
Get rid of the clutter. Any excess furniture can be stored, or simply disposed of. Extra clothes that don’t fit into closets or drawers need to be packed away. Kitchen and bathroom counters need to be cleared off. Any toys that regularly clutter the floor will need to be put away.
Day 4
Attack the kitchen. The kitchen is probably the most important room in the house from the buyer’s perception. You want it to appear bright, sparkling and spacious. A fresh coat of paint on the walls and ceiling can do wonders to freshen the appearance of a kitchen. If the cupboards are old, but in good physical shape, they can be repainted or re-stained. Clean the floor, and if it old and worn, you may consider replacing it.
Day 5 & 6
Paint the bathrooms. The best way to freshen up and update the bathroom is with a fresh coat of light colored, glossy paint. While bathroom renovations are expensive, a fresh coat of paint is affordable, and makes a huge impact.
Day 7
Clean, or paint the living and entry area. Walk through the house, and inspect the walls. Are they marked or scratched? Has the paint faded in spots? You probably won’t need to paint the ceiling- just be careful not to get any paint on it from the walls.
Day 8
Clean or paint the bedrooms. The same rules apply here as for the living areas.
Day 9
Wash the windows and clean the lights. Vacuum the drapes and get the dust off the blinds. Sparkling windows will make the entire house seem cleaner. Cleaning the dirt and grime from the light fixtures will increase their brightness, and make your whole home look cheerier.
Day 10
Have the carpets cleaned or replaced. If the carpeting is in good shape, the potential buyer will think the entire house is that way, as well. If your carpet is old and worn, you might consider replacing it. Even inexpensive new carpeting looks great. Always do the carpeting last- so you won’t have to worry about spilling any paint on it.
Now that all the hard work is done, you can rest for a day!
There will still be a few things that could use your attention. Any leaky faucets, wobbly doorknobs or squeaky hinges will need to be fixed. You might want to consider having a garage sale to get rid of closet clutter- plus it will make moving a lot easier!
Remember- first impressions count. You want the potential buyer to see your home in the best possible way.
Day 1
Today, start by cutting back the hedges. Getting rid of over- growth will open up the front of the house, so the buyers can see the house more easily. Next, cut and trim the lawn, and do any necessary weeding to the gardens. Sweep the driveway, and clean the outside lights. When the potential buyer pulls into the driveway for the first time, they will notice all your hard work!
Day 2
Get the paintbrush out! Chances are, the front door and the trim could use some fresh paint. If your home is more than 10 years old, you may consider updating the color combination. Color trends change over time, and a color change can update the appearance of your home.
Day 3
Get rid of the clutter. Any excess furniture can be stored, or simply disposed of. Extra clothes that don’t fit into closets or drawers need to be packed away. Kitchen and bathroom counters need to be cleared off. Any toys that regularly clutter the floor will need to be put away.
Day 4
Attack the kitchen. The kitchen is probably the most important room in the house from the buyer’s perception. You want it to appear bright, sparkling and spacious. A fresh coat of paint on the walls and ceiling can do wonders to freshen the appearance of a kitchen. If the cupboards are old, but in good physical shape, they can be repainted or re-stained. Clean the floor, and if it old and worn, you may consider replacing it.
Day 5 & 6
Paint the bathrooms. The best way to freshen up and update the bathroom is with a fresh coat of light colored, glossy paint. While bathroom renovations are expensive, a fresh coat of paint is affordable, and makes a huge impact.
Day 7
Clean, or paint the living and entry area. Walk through the house, and inspect the walls. Are they marked or scratched? Has the paint faded in spots? You probably won’t need to paint the ceiling- just be careful not to get any paint on it from the walls.
Day 8
Clean or paint the bedrooms. The same rules apply here as for the living areas.
Day 9
Wash the windows and clean the lights. Vacuum the drapes and get the dust off the blinds. Sparkling windows will make the entire house seem cleaner. Cleaning the dirt and grime from the light fixtures will increase their brightness, and make your whole home look cheerier.
Day 10
Have the carpets cleaned or replaced. If the carpeting is in good shape, the potential buyer will think the entire house is that way, as well. If your carpet is old and worn, you might consider replacing it. Even inexpensive new carpeting looks great. Always do the carpeting last- so you won’t have to worry about spilling any paint on it.
Now that all the hard work is done, you can rest for a day!
There will still be a few things that could use your attention. Any leaky faucets, wobbly doorknobs or squeaky hinges will need to be fixed. You might want to consider having a garage sale to get rid of closet clutter- plus it will make moving a lot easier!
Remember- first impressions count. You want the potential buyer to see your home in the best possible way.
Should You Have Your Home Inspected Before You Put It On The Market
There are some benefits to having a home inspection before you offer your home for sale.
An inspection will alert you to any defects that need repair. You then have the option of doing the repairs, and asking more money for the home. This will also save you time and aggravation at closing.
Having a home inspection can save you from re-doing any cosmetic repairs. If you find out some wiring needs to be updated, you can do that before you add a fresh coat of paint to the walls.
Having a professional inspection report available to potential buyers will build trust and respect, for both you and your home.
There are, however, a couple of drawbacks to having a professional inspection done.
If the inspector finds any serious problems, you are legally obligated to inform the potential buyers.
Also, the inspection costs hundreds of dollars, and the buyers who make you an offer will have their own inspection done.
If you are confident that your home meets safety standards, then it is likely OK to save your money on an inspection. If you are afraid that there are serious problems, don’t hope that your buyer’s inspector will miss them!
Having your home inspected before putting it on the market gets rid of one more worry in the selling process. The real benefit of a pre-listing inspection is peace of mind!
The inspector will look at all the major functional systems in your home. These include the roof, foundation, floors, walls and ceilings. He’ll also check out doors, windows, eaves, balconies and decks. He’ll inspect the heating and cooling systems, plumbing, insulation and ventilation.
It might be a good idea to contact an inspector in your area, to ask any questions you may have. It could save you time and money in the end.
An inspection will alert you to any defects that need repair. You then have the option of doing the repairs, and asking more money for the home. This will also save you time and aggravation at closing.
Having a home inspection can save you from re-doing any cosmetic repairs. If you find out some wiring needs to be updated, you can do that before you add a fresh coat of paint to the walls.
Having a professional inspection report available to potential buyers will build trust and respect, for both you and your home.
There are, however, a couple of drawbacks to having a professional inspection done.
If the inspector finds any serious problems, you are legally obligated to inform the potential buyers.
Also, the inspection costs hundreds of dollars, and the buyers who make you an offer will have their own inspection done.
If you are confident that your home meets safety standards, then it is likely OK to save your money on an inspection. If you are afraid that there are serious problems, don’t hope that your buyer’s inspector will miss them!
Having your home inspected before putting it on the market gets rid of one more worry in the selling process. The real benefit of a pre-listing inspection is peace of mind!
The inspector will look at all the major functional systems in your home. These include the roof, foundation, floors, walls and ceilings. He’ll also check out doors, windows, eaves, balconies and decks. He’ll inspect the heating and cooling systems, plumbing, insulation and ventilation.
It might be a good idea to contact an inspector in your area, to ask any questions you may have. It could save you time and money in the end.
Beware Of Agents Who Buy Your Listing
If you're selling your home, there's a certain kind of real estate agent you must be aware of: the agent willing to buy your listing. They're not technically being dishonest, but you should be aware of what's happening in such scenarios.
What does "buying your listing" mean? Well, in simple terms, it simply means that the agent wants to put a sign in your yard, bearing their company's name and phone number.
Why? Because they want to use your property as advertising to generate phone calls from prospective buyers.
Here's how it works:
The listing agent makes a presentation, telling you how much they think your home should sell for. Generally, the agent has done a significant amount of research, so they know with reasonable certainty what your home will sell for. However, if you disagree and want to list it at a price considerably higher, one of two things will happen.
An agent who is hoping to get your listing at a price that will sell, thereby fulfilling their obligation to you, will try to get you to accept their opinion as to the selling price. However, an agent just wanting a sign in your yard will often just accept your selling price, even though they know that the chances of your home selling at that price are slim.
In essence, the agent has bought your listing, but you'll get essentially nothing in return for the next six months. However, back at the office, the phone will begin to ring as people driving around your neighborhood call to inquire about the price, thus generating more business for the real estate agent.
What happens during those inquiries? Well, the agent tells the prospective buyer the price, which generally will prompt a moment of astonished silence on the phone. After all, buyers are generally knowledgeable about the value of houses in their target area, so they'll know full well that your home is overpriced.
After the silence, the agent will tell the homeowner that they know your listing is out of line, but they know of several other possible candidates that the caller may want to look at that are more within the range they are considering.
If an agent seems to have accepted your listing price, even though there was a significant disparity between what they proposed and what you have asked, be wary. Your listing won't generate a sale for you, but it will generate calls--and sales--for other listings in the area that owners have priced properly.
What does "buying your listing" mean? Well, in simple terms, it simply means that the agent wants to put a sign in your yard, bearing their company's name and phone number.
Why? Because they want to use your property as advertising to generate phone calls from prospective buyers.
Here's how it works:
The listing agent makes a presentation, telling you how much they think your home should sell for. Generally, the agent has done a significant amount of research, so they know with reasonable certainty what your home will sell for. However, if you disagree and want to list it at a price considerably higher, one of two things will happen.
An agent who is hoping to get your listing at a price that will sell, thereby fulfilling their obligation to you, will try to get you to accept their opinion as to the selling price. However, an agent just wanting a sign in your yard will often just accept your selling price, even though they know that the chances of your home selling at that price are slim.
In essence, the agent has bought your listing, but you'll get essentially nothing in return for the next six months. However, back at the office, the phone will begin to ring as people driving around your neighborhood call to inquire about the price, thus generating more business for the real estate agent.
What happens during those inquiries? Well, the agent tells the prospective buyer the price, which generally will prompt a moment of astonished silence on the phone. After all, buyers are generally knowledgeable about the value of houses in their target area, so they'll know full well that your home is overpriced.
After the silence, the agent will tell the homeowner that they know your listing is out of line, but they know of several other possible candidates that the caller may want to look at that are more within the range they are considering.
If an agent seems to have accepted your listing price, even though there was a significant disparity between what they proposed and what you have asked, be wary. Your listing won't generate a sale for you, but it will generate calls--and sales--for other listings in the area that owners have priced properly.
How To Prepare For Your California Home Inspection
Some people think California home inspections are a pretty cut and dry process compared to home inspections in other parts of the country where weather causes more home damage. Actually, California home inspections take just as long as any other home inspection, and can even take longer based on the size and condition of the home and if areas in need of inspection are locked, blocked, or not easily visible. If you want your California home inspection to run as smoothly as possible, be sure to do the following before your home inspector arrives:
- Make sure access to the house is provided, either by means of a lock box, your realtor, the buyer's realtor, or you being there.
- Make sure that all areas of the house are accessible and visible.
- Make sure that all utilities are on (including electricity, gas, and water) , the pilot lights are lit, etc. This is required to test appliances and the systems (i.e. plumbing & electrical) in the home.
- Keep all pets out of the way during the inspection.
- Inform the inspector of any specific conditions, flaws, or defects of the home. This will save time and help create a more honest inspection report.
- Make yourself available to the inspector during the time of inspection. It is not required that you walk with the inspector during the inspection, but being available for questions or to help the inspector gain access to certain areas is important.
Selling Millionaires homes without anyone knowing a big secret dilemma
Selling a millionaire home is hugely different than selling any other type of real estate. Many owners quite rightly do not want luxury home window shoppers trampling over their marble floors. Millionaire home owners by their very nature can be newsworthy individuals. So opening your doors to just anybody is simply not on.
Proud of what they have achieved
Owning a home that makes us mere mortals slip off into a dream-like state is a huge achievement. So the first question a buyer wants to ask is why you are selling. Have you hit hard times? Is your business about to collapse? Are you going through a divorce? Have you got an expensive legal case to pay for? The millionaire home owner does not want the world to know about any negative side to their financial situation. These types of questions are not only a source of embarrassment but could actually affect an individual's business.
I want to have a peek at how they live!
Well I admit it I want to have a look at that stunning luxury home. We are all curious and when it comes to luxury homes, we would all like to marvel at the tennis courts, swimming pool, helicopter landing pad, and designer bedrooms. So to sell a home you must not only be able to understand the seller but also the average buyer. This will help reduce unnecessary intrusion into the lives of Millionaire home owners selling a luxury home.
Some home truths for Millionaire dollar home owners
To sell a home it unfortunately requires marketing. The Luxury home buyer is a rare breed and they need to see pictures and learn intimate details about your home. But most of all they need to find your million dollar home for sale. The more expensive a home the more likely that the buyer will be from out of state or even from overseas. Marketing your luxury home on the internet will be essential. Find a property web site that represents similar homes and is not hard to find. You will need a web site that is found easily in the search engines. For example go to the world’s busiest search engine google.com and type a typical search term that a luxury home buyer may use.
For example
Your secret is safe
This special part of the housing market requires people that can show empathy for both buyers and sellers. Getting into the mind of a luxury home owner and understanding the mindset of millionaire home owners is not only professional but is essential.
Proud of what they have achieved
Owning a home that makes us mere mortals slip off into a dream-like state is a huge achievement. So the first question a buyer wants to ask is why you are selling. Have you hit hard times? Is your business about to collapse? Are you going through a divorce? Have you got an expensive legal case to pay for? The millionaire home owner does not want the world to know about any negative side to their financial situation. These types of questions are not only a source of embarrassment but could actually affect an individual's business.
I want to have a peek at how they live!
Well I admit it I want to have a look at that stunning luxury home. We are all curious and when it comes to luxury homes, we would all like to marvel at the tennis courts, swimming pool, helicopter landing pad, and designer bedrooms. So to sell a home you must not only be able to understand the seller but also the average buyer. This will help reduce unnecessary intrusion into the lives of Millionaire home owners selling a luxury home.
Some home truths for Millionaire dollar home owners
To sell a home it unfortunately requires marketing. The Luxury home buyer is a rare breed and they need to see pictures and learn intimate details about your home. But most of all they need to find your million dollar home for sale. The more expensive a home the more likely that the buyer will be from out of state or even from overseas. Marketing your luxury home on the internet will be essential. Find a property web site that represents similar homes and is not hard to find. You will need a web site that is found easily in the search engines. For example go to the world’s busiest search engine google.com and type a typical search term that a luxury home buyer may use.
For example
- Millionaire homes,
- Millionaire houses,
- Million dollar homes,
- Luxury homes.
Your secret is safe
This special part of the housing market requires people that can show empathy for both buyers and sellers. Getting into the mind of a luxury home owner and understanding the mindset of millionaire home owners is not only professional but is essential.
Warning selling your home is a security and preparation issue.
Location, central heating, air conditioning, double glazing, good neighbours, good schools and a long lease these are just some of the factors that buyers consider when buying a property. So it was some surprise when we learnt that that new UK research commissioned by the Homebuyer Show revealed something completely different.
The survey reports that 72 per cent of home buyers say good security is rated as being more important when making a buying decision than a home overall condition and size.
Home buyers also ranked security above other key house buying factors such as the quality of the neighbourhood and local facilities.
Less important when deciding on a property is the state of the interior decor, 51 per cent regarded this as irrelevant.
One in three buyers are unconcerned by the provision of lack schools and a similar amount were indifferent of the size and state of a property’s garden.
Security Security, Security!
The study also looked at the improvements and gadgets in a home. Security again topped the list with homebuyers regarding a state of the art security system as being more desirable than kitchen gadgets and plush designer furnishings.
Nick Clark managing director of Homebuyer Events said "Home Security has been moving up the homebuyers’ agenda for a number of years but it has now become one of the main priorities."
Despite the findings of the study it is clear that to sell your house it requires a great deal of preparation. Those sellers who feel that they are wasting money improving their homes before they sell will not sell their home fast. In fact this lack of preparation could cost them thousands in price reductions. A broken fence or damaged guttering will only serve to add negotiating power to the buyer.
Price and presentation are critical to sell your home
First impressions count, buyers will have already formed an impression before they step into your property. A well-kept garden, pathway and fence, plus a freshly painted front door are immediately appealing, whereas a scruffy outdoor space with a litter bin outside the front door may turn many prospective buyers away.
De-clutter - don't underestimate the appeal of a tidy property. Throw out the junk - use moving as a good excuse to get rid of old, unwanted and unused items.
Clean - dust and clean the whole house thoroughly, from cobwebs on the ceiling to crumbs and stains on carpets and rugs. Remember to wash down paintwork and clean windows.
Natural Colours - research shows that, most buyers prefer natural, earthy colours to bright, bold shades. Although there is a wide range of paint colours available, magnolia is still the top-selling colour.
Add a bit of colour - to prevent rooms looking too bland, use strong colours for accent walls or cushions and accessories.
De-personalise - remove personal items, such as family photographs and children's drawings, which may distract potential buyers. It may sound harsh but it really helps sell property
Maintenance – Complete all minor repairs. Major Jobs- If you don’t spend out on home improvements to complete major repairs it could have a disproportionate affect on the value of the property.
Lighting - the right lighting can improve the mood of a room. A room looks cosier with a few table lamps rather than bright general lighting. Create a scent - it may be a bit of a cliché to bake bread or grind coffee beans just before the arrival of a potential buyer, but scent does plays an important role in creating the right impression.
Open windows - most buyers like the smell of a freshly cleaned and aired room. Open the windows every day to let fresh air into the house. Avoid strong food odours - don't cook foods such as fish or curry before a viewing as the smell will linger.
Take pets out - ask friends or family to look after pets during viewings. Fresh flowers and fruit - flowers and a bowl of fruit will brighten up a room and provide a pleasant smell.
Define your rooms - a property will be more appealing if rooms have a specific purpose and this allows buyers to see the full potential of the property.
Seasons - the best time for selling property is spring and autumn; the market slows down during late summer and over Christmas/New Year. If a property is sold while the market is buoyant, it's much more likely to attract the asking price.
So if you want to sell your home quickly preparation is crucial and upgrading your security arrangements is a must.
The survey reports that 72 per cent of home buyers say good security is rated as being more important when making a buying decision than a home overall condition and size.
Home buyers also ranked security above other key house buying factors such as the quality of the neighbourhood and local facilities.
Less important when deciding on a property is the state of the interior decor, 51 per cent regarded this as irrelevant.
One in three buyers are unconcerned by the provision of lack schools and a similar amount were indifferent of the size and state of a property’s garden.
Security Security, Security!
The study also looked at the improvements and gadgets in a home. Security again topped the list with homebuyers regarding a state of the art security system as being more desirable than kitchen gadgets and plush designer furnishings.
Nick Clark managing director of Homebuyer Events said "Home Security has been moving up the homebuyers’ agenda for a number of years but it has now become one of the main priorities."
Despite the findings of the study it is clear that to sell your house it requires a great deal of preparation. Those sellers who feel that they are wasting money improving their homes before they sell will not sell their home fast. In fact this lack of preparation could cost them thousands in price reductions. A broken fence or damaged guttering will only serve to add negotiating power to the buyer.
Price and presentation are critical to sell your home
First impressions count, buyers will have already formed an impression before they step into your property. A well-kept garden, pathway and fence, plus a freshly painted front door are immediately appealing, whereas a scruffy outdoor space with a litter bin outside the front door may turn many prospective buyers away.
De-clutter - don't underestimate the appeal of a tidy property. Throw out the junk - use moving as a good excuse to get rid of old, unwanted and unused items.
Clean - dust and clean the whole house thoroughly, from cobwebs on the ceiling to crumbs and stains on carpets and rugs. Remember to wash down paintwork and clean windows.
Natural Colours - research shows that, most buyers prefer natural, earthy colours to bright, bold shades. Although there is a wide range of paint colours available, magnolia is still the top-selling colour.
Add a bit of colour - to prevent rooms looking too bland, use strong colours for accent walls or cushions and accessories.
De-personalise - remove personal items, such as family photographs and children's drawings, which may distract potential buyers. It may sound harsh but it really helps sell property
Maintenance – Complete all minor repairs. Major Jobs- If you don’t spend out on home improvements to complete major repairs it could have a disproportionate affect on the value of the property.
Lighting - the right lighting can improve the mood of a room. A room looks cosier with a few table lamps rather than bright general lighting. Create a scent - it may be a bit of a cliché to bake bread or grind coffee beans just before the arrival of a potential buyer, but scent does plays an important role in creating the right impression.
Open windows - most buyers like the smell of a freshly cleaned and aired room. Open the windows every day to let fresh air into the house. Avoid strong food odours - don't cook foods such as fish or curry before a viewing as the smell will linger.
Take pets out - ask friends or family to look after pets during viewings. Fresh flowers and fruit - flowers and a bowl of fruit will brighten up a room and provide a pleasant smell.
Define your rooms - a property will be more appealing if rooms have a specific purpose and this allows buyers to see the full potential of the property.
Seasons - the best time for selling property is spring and autumn; the market slows down during late summer and over Christmas/New Year. If a property is sold while the market is buoyant, it's much more likely to attract the asking price.
So if you want to sell your home quickly preparation is crucial and upgrading your security arrangements is a must.
Selling Your Home
If you are in the market of purchasing or selling a home, it is likely that you will come across many different documents of a wide variety, each of these will likely have different uses, functions, and names associated with it. When selling or buying a home two documents that are misunderstood the most are called quit claim deed and warranty deed. People tend to believe that both forms are exactly alike, well I am here to tell you differently.
Warranty Deed
This document is a deed that is presented to you by the seller and can be used in a wide variety of transactions that involve sales. This warranty basically tells you that the property being sold is indeed owned by the seller and that there are not any types of liens placed upon it, essentially saying it is free and clear. This assures the buyer that the seller has all legal rights in transferring ownership to them without any type of holdings on it. This means that there are no claims that could be made by anyone that may include financial institutions or otherwise, on this property. With the warranty deed, the buyer is protected by the court of law if the claims should prove to be false or the event occurs when someone does have the ability to place claim on the property. The law states that in either of these events, the buyer would be entitled to compensation of some form. It is seldom that the warranty deed will not be coupled with an insurance policy on the title, so the buyer is assured a free and clear title.
Quit Claim Deed
This deed is on the opposite end of the spectrum from the warranty deed. The quit claim deed, is generally presented to you by a seller who likely does not personally own the property in question, however, they do have some responsibility over it. There are a variety of reasons that a quit claim deed can be used this can include, when the actual owner has died but has left the property in question to a friend or family member. Additionally, it can be used when a couple has gotten married and the spouse wants to include the other party on the title. This type of deed does not offer the same type of assurances to the buyer as the warranty deed does, it is for this reason that this is typically used when the sale will occur within the family.
Warranty Deed
This document is a deed that is presented to you by the seller and can be used in a wide variety of transactions that involve sales. This warranty basically tells you that the property being sold is indeed owned by the seller and that there are not any types of liens placed upon it, essentially saying it is free and clear. This assures the buyer that the seller has all legal rights in transferring ownership to them without any type of holdings on it. This means that there are no claims that could be made by anyone that may include financial institutions or otherwise, on this property. With the warranty deed, the buyer is protected by the court of law if the claims should prove to be false or the event occurs when someone does have the ability to place claim on the property. The law states that in either of these events, the buyer would be entitled to compensation of some form. It is seldom that the warranty deed will not be coupled with an insurance policy on the title, so the buyer is assured a free and clear title.
Quit Claim Deed
This deed is on the opposite end of the spectrum from the warranty deed. The quit claim deed, is generally presented to you by a seller who likely does not personally own the property in question, however, they do have some responsibility over it. There are a variety of reasons that a quit claim deed can be used this can include, when the actual owner has died but has left the property in question to a friend or family member. Additionally, it can be used when a couple has gotten married and the spouse wants to include the other party on the title. This type of deed does not offer the same type of assurances to the buyer as the warranty deed does, it is for this reason that this is typically used when the sale will occur within the family.
Things To Consider If You Are Ever Going To Sell A Home
Purchasing a home is a large investment no matter what age you are. On average people own, list and sell many houses throughout their lives and the last 50 years has seen a dramatic upswing of people moving regularly. Society has changed dramatically in the last 50 years, people work shorter periods at jobs and with the majority of women now working as well this has been one contribution to the moving craze. Due to the frequent buying and reselling of property it’s important for us to consider the resell value of a house before we purchase.
If you’re in the real estate market consider what it is your looking for and how long you'll be there. Your intentions for this new purchase and time frame of ownership can affect the value when it comes time to sell. If you’re planning on staying a while and this area of the city is known as a 'hot' market now when you buy, the current value may be more than what it will be say 10 or 15 years from now if that area of the city is no longer a desired living area.
Regardless of your purchasing intentions, there are many factors to consider that will affect the reselling potential of your home.
1. Location. The location of your new investment does make a difference and like I stated above different areas of the city can be valued differently.
Here are a few items that will make certain areas of the city more desirable:
2. Demographics. A large portion of society is heading into retirement to live out their golden years so take note that single level houses with wide hallways and rooms large enough to accommodate wheelchairs may become more popular in certain areas, while suburbs filled with young families may put more of an emphasis on large yards and ample public green space and playground facilities. Spend some time finding out about the population before you invest there.
3. Learn the market. By staying current on what the market is desiring you'll know what to look for. Things to keep your eye on are amount of rooms in the house, energy efficient windows, number of bathrooms and their locations within the home, fireplaces, kitchen and related accesories. You might find some trends in the market and by knowing what people are looking for will help you to make the right purchasing decision in the start, which is way easier than trying to renovate down the road.
4. House Life Span. Determining the value of a home according to how old it is will be something you'll need to consult a residential building inspector about. They should be able to give you what's called an inspection report that will help you determine the value of things like the roof, driveway and heating or cooling systems. These items will have to be replaced and repaired at some point so consider that the older these items are the less value you'll have when it comes to reselling. Of course this is just as important to consider if you’re in the purchasing mode because you'll need the funds to fix up these items one you take ownership and they become critical.
So whether you’re buying a house for personal usage or investment put some thought and research into your investment. It can turn out to be a quicker and easier sale in the end and even turn a handsome profit many years in the future once you’re ready to sell. A wise investment is one that considers your current needs while looking forward to future resell value. Quite often this will help you to continually upgrade and move you into bigger and more expensive homes each time you move or invest.
If you’re in the real estate market consider what it is your looking for and how long you'll be there. Your intentions for this new purchase and time frame of ownership can affect the value when it comes time to sell. If you’re planning on staying a while and this area of the city is known as a 'hot' market now when you buy, the current value may be more than what it will be say 10 or 15 years from now if that area of the city is no longer a desired living area.
Regardless of your purchasing intentions, there are many factors to consider that will affect the reselling potential of your home.
1. Location. The location of your new investment does make a difference and like I stated above different areas of the city can be valued differently.
Here are a few items that will make certain areas of the city more desirable:
- mature trees
- wide sidewalks
- proximity to schools
- shopping and public transit
2. Demographics. A large portion of society is heading into retirement to live out their golden years so take note that single level houses with wide hallways and rooms large enough to accommodate wheelchairs may become more popular in certain areas, while suburbs filled with young families may put more of an emphasis on large yards and ample public green space and playground facilities. Spend some time finding out about the population before you invest there.
3. Learn the market. By staying current on what the market is desiring you'll know what to look for. Things to keep your eye on are amount of rooms in the house, energy efficient windows, number of bathrooms and their locations within the home, fireplaces, kitchen and related accesories. You might find some trends in the market and by knowing what people are looking for will help you to make the right purchasing decision in the start, which is way easier than trying to renovate down the road.
4. House Life Span. Determining the value of a home according to how old it is will be something you'll need to consult a residential building inspector about. They should be able to give you what's called an inspection report that will help you determine the value of things like the roof, driveway and heating or cooling systems. These items will have to be replaced and repaired at some point so consider that the older these items are the less value you'll have when it comes to reselling. Of course this is just as important to consider if you’re in the purchasing mode because you'll need the funds to fix up these items one you take ownership and they become critical.
So whether you’re buying a house for personal usage or investment put some thought and research into your investment. It can turn out to be a quicker and easier sale in the end and even turn a handsome profit many years in the future once you’re ready to sell. A wise investment is one that considers your current needs while looking forward to future resell value. Quite often this will help you to continually upgrade and move you into bigger and more expensive homes each time you move or invest.
Make Moving Announcements A Priority For Your Next Move
Moving announcements are a great way to let those around you know you’ve relocated. As we all know, moving can be quite the chore and is often a stressful ordeal. One way to help organize the process is to make a checklist for those you would want to announce your move to. The list should include:
Another way to go is with personalized, printed announcements. So many of us are now creating our own greeting cards at home with our computers and printers. Many digital cameras come equipped with software programs to do just that so why not design a moving announcement for your friends and family? Purchase some nicely colored card stock or use your existing copy paper to create a fun and personalized message to announce your move. You can add a digital photo of your new home to the front of the announcement or create your own idea. It’s a fun way to let everyone know that you’re relocating and you can even get the kids involved on this project!
If you don’t have the time or energy to make your own moving announcements, you can always opt for an online or local printing service in your area. One economical online resource for this type of service is vistaprint.com. You simply choose your design preference, fill out the appropriate information on the website and the announcements will be delivered right to your door. Just make sure you allow enough time for delivery if you decide to go this route.
- Your local Post Office
- Magazines Companies
- Your Local Newspaper Delivery Service
- Home Security Companies
- Any Member Associations
- Your Workplace
- Your Child’s School
- Your Bank
- Applicable Utility Companies
Another way to go is with personalized, printed announcements. So many of us are now creating our own greeting cards at home with our computers and printers. Many digital cameras come equipped with software programs to do just that so why not design a moving announcement for your friends and family? Purchase some nicely colored card stock or use your existing copy paper to create a fun and personalized message to announce your move. You can add a digital photo of your new home to the front of the announcement or create your own idea. It’s a fun way to let everyone know that you’re relocating and you can even get the kids involved on this project!
If you don’t have the time or energy to make your own moving announcements, you can always opt for an online or local printing service in your area. One economical online resource for this type of service is vistaprint.com. You simply choose your design preference, fill out the appropriate information on the website and the announcements will be delivered right to your door. Just make sure you allow enough time for delivery if you decide to go this route.
For Sale By Owner Or Lose a Sale By Owner
Many people tend to think that by hiring a real estate agent, they are losing out on money that they could have saved if they sold their own home. This couldn’t be further from the truth. To often, people put their own houses up for sale and then wait until the right buyer comes along. But how long does that home stay on the market until THAT happens?
The general public is often mistaken about the role of a real estate agent. The agent doesn’t just earn a commission off a purchase or sell of a property, but instead, it is in the best interest of the real estate professional to do everything possible for their client. What this translates to, is the ability of the real estate agent to tap into sales and marketing channels that the average home owner or purchaser could not use.
People who buy or sell properties do not have access to the multi listing services, weekly advertisements in major news outlets (paper, television and radio), and an extended lead network that provides fresh referrals. Instead, a for sale by owner situation hopes for newspaper ads and word of mouth to sell their property.
What’s more persuasive and readily accessible to an immediate buyer?
In my opinion, for sale by owners are doing themselves a disservice by handling the transaction themselves. As I gave the aforementioned reasons, a person will be in a much better position to sell their home if they avail themselves all of the possible resources to do so. These resources are all at the touch of a willing and knowledgeable real estate agent.
So how does a fsbo find the right agent? They should ask their friends and coworkers on who they know that can handle a solid real estate transaction. Word of mouth carries a lot of weight in the real estate world so the fsbo should do their own due diligence and find out which agency and which particular agent to use. Female or male, it all goes to personal preference. Ask for the agent’s background to see how many sales last month they successfully brokered. Ask them what their plan of attack is to sell the property and what various angles they are going to take. And most of all, determine how much of a personality they have. Determination and personality go a long way!
The general public is often mistaken about the role of a real estate agent. The agent doesn’t just earn a commission off a purchase or sell of a property, but instead, it is in the best interest of the real estate professional to do everything possible for their client. What this translates to, is the ability of the real estate agent to tap into sales and marketing channels that the average home owner or purchaser could not use.
People who buy or sell properties do not have access to the multi listing services, weekly advertisements in major news outlets (paper, television and radio), and an extended lead network that provides fresh referrals. Instead, a for sale by owner situation hopes for newspaper ads and word of mouth to sell their property.
What’s more persuasive and readily accessible to an immediate buyer?
In my opinion, for sale by owners are doing themselves a disservice by handling the transaction themselves. As I gave the aforementioned reasons, a person will be in a much better position to sell their home if they avail themselves all of the possible resources to do so. These resources are all at the touch of a willing and knowledgeable real estate agent.
So how does a fsbo find the right agent? They should ask their friends and coworkers on who they know that can handle a solid real estate transaction. Word of mouth carries a lot of weight in the real estate world so the fsbo should do their own due diligence and find out which agency and which particular agent to use. Female or male, it all goes to personal preference. Ask for the agent’s background to see how many sales last month they successfully brokered. Ask them what their plan of attack is to sell the property and what various angles they are going to take. And most of all, determine how much of a personality they have. Determination and personality go a long way!
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