Menu

Home Selling Tips

Hot market selling for more

How to Sell Your Home in the Changing Market

,

The Seller’s Market Continues But…

Updated: August 8, 2022

The market is continuing to be good for sellers; however, inflation, a slowing economy, interest rates and higher prices to buy are changing the dynamics of selling your home. Understanding how the market is “working” for potential buyers can help you position your home for more  money. Here is my advice for selling for more in a changing possibly cooling market for sellers.

What’s Still Driving Prices for Real Estate Here?

There are four factors in my opinion that are driving the real estate market:

  • Low inventory
  • Better homes for the money if relocating for value
  • Inflation. Real estate is a hedge investment
  • Lifestyle. This is a great area to live in.

The inventories of homes for sale are still low and there seems to be no “bubble” to cure the lack of inventory. Although mortgage interest rates for purchase financing has been higher recently than a year ago, but the rates are still very, very good. The biggest threat to the hot housing market is the economy, and whether inflation will continue to rise or level out during the year. 

Challenges For Selling Right Now

It certainly seems most sellers will get more money than ever selling their home in this market after talking to an agent. The new market is becoming more balanced where terms and condition matters and any surprises during the transaction often means a difficult renegotiation or the sale is cancelled and the home is back on market

  • Buyers want to preview your home online first.
  • Buyers are not buying “anything.” Condition matters now.
  • Buyers don’t want to overpay or be in a bidding war.
  • Buyers want a well maintained home.
  • Buyers are less committed with the current economy.
  • Sellers are overpricing their homes.

So, what are the tips and best advice for home sellers to sell for more?

What Makes Buyers Offer More?

The data for closed sales shows ideally what do the buyers want in order to make an offer for more. What are the key criteria that brings offers for more money from Buyers?

  • Your home marketing online has to be comprehensive and intrigue the buyer to see the home in person.
  • Your home needs to be priced for an offer after the first weekend on market.
  • Be prepared to sell and move at the close of escrow.

Seller Tip #1 – Price your home to sell the first weekend.

The buyers are searching and finding a home online first, committed buyers are looking at the newest inventory. Your house is only just listed once.  The price will attracted the most buyers. However proper marketing of the home and property features, amenities, updates, remodeling and terms of sale bring the best and highest offer to the seller. Buyers today know the market and are price savvy. A home not properly marketed and priced the first weekend isn’t getting multiple offers and the lack of interest for your home will result in less favorable sales price or terms to sell your home as time on market increases.

Sell for More Tip #2 – Move In Ready Homes Sell For More

All buyers especially in a changing market want a nice home that is ready to move into. Buyers are paying way more than they ever thought they would for their dream home. At a minimum buyers would like to buying a home that has been well cared for and with no major issues to address after sale. 

Sellers almost always see more money and return on investment for new carpet and fresh paint, as well as making sure everything is in working order in the home. 

If you won’t buy the home you live in because it does look well cared for, most buyers will feel the same way after touring your home. Well cared properties always sell for more and in this market, they sell for a lot more.

Sell For More Tip #3 – Property Updates and Features Sell For More

If your house is over 15 years old, updates will bring much needed value and more money when you sell. Newer HVAC, roof, updated appliances, remodeled bathroom, kitchen are all important items buyers look for in a listing.

Also updates and improvements to the property matter too for selling for more money. Buyers are looking for larger yards with landscaping, a pool or room for one, additional parking for RVs/storage, outdoor kitchens, fire pits, covered patios.

If you currently own a home in an area that is served by Pacific Gas and Electric a home with with solar owned or leased or owned with help you sell for more.

Sell for More Tip #4 – Move Out When You Sell

Buyers really want to move into the home when the escrow closes. Marketing that the home is vacant or no rentaback or replacement property contigency goes a long way to helping you sell for more money.

Pro Tip: If you plan on selling a vacant home, take pictures of it staged or with furniture.

Final Thoughts

The biggest change to real estate in the last couple of years is the buyer’s journey starts online for finding a home. Where I see the biggest miss is the showcasing of your home online by real estate professionals. Even if you do all the tips if your home “shows” poorly online the interest will not be there to see the home and make an offer.

Let me show you how my process to sell your home can deliver a price that makes selling an option. 

Contact Me
Hot Market Selling and Buying

Seller’s Market Selling And Buying A Home At The Same Time

,

Learn how to do it all at once by adding these steps to your checklist and plan.

Seller’s market selling and buying a home can be challenging, even in the best circumstances. In a seller’s market the buying can mean stress overload unless you are prepared and have a plan for success. Here are some things to consider when you want to sell and buy a home at the same time in a seller’s market.  

1. Assess and Make a Plan to Sell and Buy

Selling is the easy part, buying the new home is the challenge in a seller’s market because of low inventory and home prices.

Understand the market

To prepare for the process of buying and selling your home at the same time, know current real estate trends. You can get a market report by going to my MLS website https://stanwickre.com. This is important so you have a sense of how quickly homes are moving and for how much. This, in turn, will help you with your timeline, your listing price, and how much you can afford.

Communication is key

Communication between you and the agent is also key to a successful sell and buy. There is a lot of information that needs to be effectively managed. I strive to create a plan for every seller with the key tasks needed for selling and buying.

Understand your options

I’ll also share the options that a seller’s market has created for you as a seller, you have many options right now. Negotiating the length of your close, rent-backs, short-term rentals, and other ways to bridge and add more time between buying and selling.

2.  Minimizing the Stress of Buying

Understand your finances to buy the home is crucial. Do you need to sell your current home to have the down payment for your new home? If you do, you need to understand the contract contingency to sell your current home when purchasing or considering interim financing or securing a bridge loan.

Purchase contract contingency for selling your home means the purchase of the new home will depend on the sale of your existing home. To be frank in the seller’s market this is not an option on newly listed homes. In a hot seller’s market, the sellers are not having to consider or choose a buyer with a home to sell. If we can get the seller to accept your offer with a contingency to sell your home.  We need to have your home in escrow or on the market as a minimum. If the home you want to buy been on the market for over 30 days, then this might be a desirable option for everyone involved. However, don’t expect to pay a lower sales price too.

Consider Bridge or Interim Financing

Bridge Loans or Interim Financing might be a great alternative to remove a contingency for sale to purchase. These loans allow you to own two homes at the same time if you don’t have the money for a second down payment. Make sure you’ve evaluated your options before you make decide. 

Need Interim Financing? Contact Me for a lender

3. Factor in the Price of Your Next Home

When setting the price of your home, consider what you want to spend on your new home and weigh this against the market value. Make sure to leave a cushion when considering your new home budget. Have a buffer and manage your expectations.

Make sure you cover your sale price with your purchase. If you know the general price range you want for your next purchase, lets talk and find out what you’ll need to get from the sale of your current home in order to cover it. This is the key step to selling and buying.

4. Pre-Approved Mortgage

Knowing what you can afford is crucial. Often, buyers will be upgrading to a bigger home and think because they have a current mortgage, have a down payment, or are making more income they can upgrade. This is not always the case. Make sure you know your limit. By having a Pre-Approved Mortgage, you won’t be setting yourself up for disappointment after you find your dream home.

Can I recommend a Lender? Contact Me

5. Covering Yourself in Between the Buy and Sell Process

Just in case those planets don’t align on schedule, make sure you have a Plan B if your home is in contract or on the market. It is rare if the new home closes at the same time as your existing home. A little off in either direction and you could be paying dual mortgages or be homeless.

Make sure you have an emergency fund for such a situation. You may find you are in a hotel for a week or two. You may want to consider short term rental options (like an Airbnb). Consulting with friends and family may also give you some arrangements until your new place closes.

Another option is a Rent-Back Agreement. This provision would have you renting your home back from the buyer (now the owner) from the time of closing until you are ready to move. The buyer does not have to agree to this, and their agreement to this scenario will likely be determined by their own buying and selling situation. But it doesn’t hurt to ask. Have a back-up for this back-up!

6. Selecting a Closing Date and Time

If correctly chosen, the time and date of your closing can make buying and selling at the same time seamless. The close of escrow is a well-planned process but last-minute delays do happen. Pro Tip: I suggest not to schedule your closing day on a Friday and prefer Wednesday or Thursday. Selling tip: I also recommend adding up to 3 days for the move out after close of sale on your home. Having this buffer in your schedule will help close the deal on schedule and as planned plus give you time to move out and know your home is sold.

Now you have your plan, and you are ready to sell your home and buy a new one at the same time. It won’t be without its curveballs, but the process will be a lot smoother and successful with your checklist or plan complete.

Happy home selling and buying! Please contact me if I can help you selling and buying a home in this supernova hot seller’s market.

Contact Me
best real estate mobile apps

The Best Mobile Real Estate Apps of 2021

, , , , , , , ,

Great technology can go a long way to help you find your dream home. Although you may have an agent website for the home search, most of us want a great app for the smartphone to help us find the home we want. The smartphone is the go to device to search and find home. But before you go download any old real estate app, it’s good to know that there are a few different types to consider and more importantly the tools and information they provide can be critical to help you find, tyour, and decide to buy that dream home. So whether you’re on an active house hunt, looking for an investment property or want to put your abode on the market, take a look below to learn more about (and download) the what I think are the best real estate apps available today.

Best for Buying a Home – Realtor.com

Realtor.com is, not surprisingly, the official search portal for the National Association of Realtors. One benefit of using its site is the close relationship realtors have with the Multiple Listing System (MLS) that provides data feeds used by most sites on this list. Because of the special relationship, however, Realtor.com is often updated a little faster and has a wider range of listed properties. There are also mortgage calculators, home affordability, rates.

Why I like it: The homes on the app are truly what is available. The ability to search by location, and to get the time and driving instructions to me make it the most useful of the apps. Its also easy to share any home you find by text, or email. Its still the standard for me to recommend for house hunting. The only knock is realtor.com has decided to not have a home value tool like Zillow for active listings

Best for Homeowners: Zillow

Zillow is arguably the best known real estate app, and for good reason. Zillow was a pioneer in online home value estimates​, the Zestimate, and tells users estimated home values, past sale prices and more for virtually every home in the United States. If you are a homeowner, you can create an account to track your estimated home value over time and insights into a potential sale price if you decide it’s time to move.

Zillow App – Good but Not Great

Why I like it: While the the big miss for Zillow is the homes for sale data isn’t necessarily active or currently for sale nor updated in real time. The feature

You Probably Think There Should Be More Apps…

You wouldn’t be wrong but I think if you have both these apps you probably have what you need to be successful for buying or selling a home. Realtor.com’s app is the best for home search. Zillow is the best as a homeowner to keep track of your home values. Although these apps are free they are heavily an ad platform for agents, lenders, and real estate pros.

Hot home sellers market

Selling Your Home in a Hot Market

, , , , ,

Right now, the real estate market in the area for sellers has never been stronger. Low inventory and super low interest rates for mortgages for buyers is driving prices higher. Sellers may think that a “hot” market means more money for their home. In many instances, a hot market does indeed mean a faster sale at or above asking price. However, there are some pitfalls that a seller in a hot market needs to be aware of before putting their home on the market.

A Clean and Well Maintain Home Sells For More

Your home if selling in a hot market will always do better when it shows well. Getting the home ready and cleaned for the market matters. If you want to attract multiple offers on your property right after listing it, prepping and a deep clean is probably the best way to make that happen. In a hot market, buyers need to move quickly and are driven by first impressions and emotions. There is no better way to make someone fall in love with your house than to make it shine.

Your home doesn’t have to be perfect in a hot market. One of the “lucky” aspects of a hot market is that outdated or quirky homes sell more quickly than they otherwise would. However, it doesn’t mean more money, it just means buyers become more willing to overlook cosmetic or dated homes and may even be more willing to accept pricey fixes such as an old roof or leaky windows. Seller’s should be aware that buyers often are pushing the limits of the budget they have for home. Pre-sale inspections can go a long way to help buyers see the quality and condition of your home as well as not get surprised after they get into contract.

Sell Better with Inspections and Reports for Buyers

If you as the seller appear completely prepared to sell, a buyer will feel more confident making a quick-closing offer. There is no reason not to showcase the home in the state and condition that it is. You want to assure buyers there are no surprises after they make an offer. Because properties in a hot market tend to sell quickly and have shorter contract deadlines, you need to be prepared to present all relevant documentation to potential buyers right away. Getting all the inspections done before listing your property so you can present an accurate picture to buyers from the get-go makes sense. Have your disclosure documents all prepared and ready to go before the house goes on the market. 

Be Prepared to Move Quickly

Hot markets see more buyers purchasing with cash or minimal financing than other markets. If you’re lucky, your buyer may not need to be approved for a loan, which would greatly reduce the amount of time your property is under contract. If you decide to accept an all-cash offer, you will likely close in a short amount of time.Before you list in a hot market means more often than not you need to move quickly. Be prepared for this possibility prior to placing your property on the market. You should be searching yourself for a rental or for the replacement home before you list. It may even be wise to have a rental lined up if you do not find another property to buy right away.Be Committed to Selling – It’s Not the Time to Test the Market

Work Closely With Your Agent to be Committed to Selling

Just because the market is hot does not guarantee multiple offers for over asking price. Set reasonable expectations about selling your home.

Every property for sale is different. This is where your agent can really help you understand the market. Sure, you’ve heard about the house down the street that sold in two days for $50,000 over asking. But you do not know all the circumstances surrounding that sale. Perhaps it was just a fluke with the perfect buyers coming in for that house. Perhaps there was something highly unique to that property that made it sell so fast and for so much money.

House prices can differ drastically within neighborhoods. Many criteria that aren’t readily apparent from researching the MLS or past sales might make a property sell for more: a great layout, lots of light, decorator colors, or mature fruit trees are all examples of things that might tip buyers into a frenzy that creates high prices and multiple offers.

Your home might not offer these. Take solace in the fact that you are selling in an up market and are more likely to sell for closer to your asking price than you would in a down market. And, if you happen to be one of the lucky ones who garners more from the sale than you ever imagined, feel free to pop the champagne at closing!

There is no “perfect” offer you should be hoping for to make you sell the home. Price and terms often have dependencies on them which ultimately impact the price. Make sure to have a frank discussion about your motivation and committed to sell with your agent. Buyers are often under the gun for time and that is driving the offer price. Telling the buyer, you need a 3-month rent back for free might help to NOT sell your home. Understand in a hot market time is of the essence. Be sure that you will be present or able to review all offers within a short amount of time after the property is listed.

Pro Tip: Plan on responding to the offers within 24 hours. If you plan to counteroffer, do so in a timely manner. It is not uncommon for the negotiation process to take 24 to 48 hours. I’ve seen where offers are not reviewed until a later date where the seller and agent are hoping for offers and the seller receives no offers. Buyers are well informed in today’s market, the best buyers are on the home search 24/7, if your home is priced right, it will get an offer quickly in a hot market. If you go a week without an offer and your market is hot, you’ve missed the best buyers for your home.

Hot Market Appraisal Issues 

Hot markets often arise quickly and the nature off a hot market causes issues for the appraiser. Home Appraisers may be comparing your property to properties that sold for significantly less a month ago. The appraised value of your home is supposed to be based upon a balanced market where the sale isn’t with few sellers or few buyers. Hot markets cause the value to be higher than it would be in a normal market.

What Happens If My Home Doesn’t Appraise?

If a property doesn’t appraise for the offer price and the home was to be purchased with a loan: The buyer will have a lot of difficulty getting the loan amount they needed for the current offer price. As a seller you may be forced to lower your sales price or seek out buyers who are paying cash and do not need the approval of an appraiser to complete the deal. Most of the time, if a property doesn’t appraise and the seller won’t lower the price, the deal is dead, as the buyer has no other options besides a traditional lender to cover the purchase price.

Pro-tip: Buyers in a hot market, buyers often have no extra available cash other than down payment and closing costs. It’s important that your agent qualify the buyer who makes an offer and verify if they can or have cash available should the home not appraise in a hot market. Think twice about accepting an offer where the lender pre-approval of the buyer is not higher than the purchase price. Make sure the agent calls the lender to discuss the qualifications of the buyer before accepting or countering any offer.

Final Thoughts – Don’t Second Guess Selling in a Hot Market

My advice is be committed to selling and realistic about pricing your home selling quickly, Hot markets are about commitment. Buyers are committed to buying and you should be as well. Here is a helpful checklist if you want to sell in a hot market.

  • Do your research before you sell and explore homes for sale 
    • Look at the market as a buyer – tour open houses and talk to real estate agents to assess the hot market.
    • Contact a real estate agent(s) and get a real price for you home to sell in less than 30 days.
    • Make plans to rent or to buy quickly so you can sell quickly.
    • Commit to making your home ready for sale.
  •  
  • Commit to selling
    • Enter into a listing agreement to sell your home with a price to sell quickly.
    • Get pre-sale inspections, reports, and disclosures.
    • Adjust the price based upon your homes condition to sell quickly
  • Sell the home
    • Respond to offers as they come and quickly
    • Make sure you pick the best buyer who can and will complete the purchase
Tips on getting ready to sell your house

How To Get Ready To Sell Your House

, , ,

10 Things to Do Before Selling Your Home

Are you eager to get your house on the market? To create an MLS entry, hold an open house, and potentially get some buyers on the line?

Not so fast.

When it comes to selling your house, there’s some groundwork that needs to be laid. It’s only by attending to the fundamentals that you can ensure your home is truly listing-ready… and maximize the odds of selling quickly, for full asking price (or at least close enough).

So what are these preliminary steps? What’s the best way to sell a house? Here are some of our tips.

Steps to Take Before Selling Your House

  1. Decide how you’re going to sell your home. There’s more than one way to put a house on the market. Are you going to work with an agent? Or maybe you want to sell your house yourself, going the FSBO route? All of these approaches have their pros and cons.
  2. Appraise your curb appeal. In real estate sales, first impressions are everything… and the best way to sell a house is to make sure it looks perfect. That means attending to your landscaping, pressure washing your front walkway, repainting the exterior, installing a new front door… whatever is necessary to make sure your home looks appealing at first blush.
  3. Get rid of your clutter. You’re not selling stuff; you’re selling As such, when it comes to how to sell your house quickly, your best bet is to get rid of as much clutter as you can. You may want to consider renting an external storage unit while your home is on the market.
  4. Take down some of your personal decor. No, you don’t want your home to look totally empty, but you do want to get rid of some of your personal photos and knick-knacks. Remember, you need buyers to be able to see themselves living in the space. That can be hard when, everywhere they look, they see reminders of your
  5. Go neutral. You may love the purple wall in your living room, or the lime green windowsill in the master bedroom. Chances are, your buyers aren’t going to like such bold color schemes. Whenever you can, repaint your interiors to be as neutral as can be.
  6. Make small repairs. You may not be a licensed handyman, but you can definitely walk through your house, take note of small issues, and fix as many of them as possible. Loose faucets? Doors that aren’t quite aligned right? A few stray nails sticking out of the back deck? Buyers (and home inspectors) will notice these things, so make repairs when you can.
  7. Add plant life. You don’t need your home to seem like a greenhouse, but a little greenery can add color, freshen the air, and make the whole place feel more welcoming. Some pretty, seasonally-appropriately plant life on the front stoop can be especially beneficial.
  8. Do a deep cleaning. If you’re wondering how to sell your house quickly, well, you can’t go wrong by making it squeaky clean! You may even want to bring in a professional cleaning crew to make sure the home is spotless.
  9. Think about your staging. Staging is the act of decorating your home, and arranging furniture, in a way that emphasizes your space and makes the whole place look as accommodating as possible. If you work with an experienced real estate agent, they may help you with the staging. If not, you can consider hiring a professional staging service.
  10. Pick the right price. The most important step in any home listing is the pricing. Go too high and you’ll turn buyers away. Go too low and you’ll leave money on the table. Make sure you work with your agent and/or check comps, as well as weigh other market factors, and come up with a price that is competitive and fair.

Learn what to do if you need to sell your house quickly

Do You Need to Sell Your Home Right Now?

, , ,

When it comes to selling your home, timing really can be everything. Whether you have a deadline related to a family matter, job change or other milestones, sometimes, the sooner the better is driving when selling your house. Here are a few things to bear in mind as you to speed up the time of selling your home right now.

Price Competitively

Of course, as a seller, you want top dollar for your property. But from the buyer’s perspective, who are aggressively looking to buy they know a good value when they see one. If a quick sale is what you’re after, get the data on home that sold in your neighborhood area in 30 days or less. There are price points and sales that are supported by home where you live. The right real estate agent will help you determine the sweet spot that gets buyers through the door – and depending upon the market, might inspire an offer. You should not have to offer a “super low price” to sell quickly unless you have a compelling strategy for a “bidding war.” My advice is set a price that will get at least two offers.

Make Your Home Shine

Buyers want a pretty home that looks well kept and maintained. Improving curb appeal and decluttering your home buyer interest that will ultimately lead to a sale. If you have time to sell consider hiring landscapers, professional painters, and cleaners, so you can get the place to tip-top shape and let your listing shine from the first showing. (You might want to read Clean Up Your Act: Get Your Home Ready to Sell or The Home Seller’s Guide to Decluttering Your House.)

Have Disclosures and Reports Ready

Any good listing features the home’s strong points up front, without creating unrealistic expectations that may lead to false starts. Once you have an interested buyer or two, their main concern will be any underlying problems the property may have, such as HVAC issues or spent roofing. Having potential buyers go through the process of hiring their own home inspector, only to discover deal breakers, is a waste of everyone’s time. Consider hiring your own home inspector to do a check on your house so you can either resolve outstanding issues or bring them forth to your buyer. The sooner you as the seller can get on the same page as your buyer, the better your chances of making a smooth, efficient sale.

Sale-derailing deal breakers are a surefire way to slow down any offers or completing the sale. Being upfront with Buyers about any underlying problems the property may have creates trust that in my opinion will allow minor issues to not become deal breakers.

Let Your Friends Know You Are Selling

Posting on social media is one of a few great marketing strategies for selling your home. It can be a good way to spread the word to your personal network and beyond. Sometimes, a buyer could be closer than you think in the form of a friend, neighbor or relative, or someone in their social spheres. The more eyes on your listing, the better. (See also Accelerating Your Home Sale with Social Media.)

The Right Time To Sell

With the current market where inventory of homes is at a premium, today is a good time to sell. When the market changes (inventory  of homes for sale is at least 3 months) putting your home on the market in spring or before June is almost always preferable to starting any other time of the year. If you can wait until the first six months of year, you’re more likely to get more showings and move through the sale more quickly than when there are fewer buyers. If you can’t wait, there may be other options you should discuss or consider.

The time is right, price it right and do it up right, and you should be on your way to the speedy sale you’re after. Remember to set your expectations with careful research and decisions, approach the process with the goal to get you to where you want to live next.

What do do if your home isn;t selling

Why Your Home Isn’t Selling or Getting Any Offers

, , , , ,

You’ve put your house on the market, and it’s just not happening: not a single showing or not one purchase offer. It’s not just the price but the price is the big reason there are no offers or showings. Finding the answers is often disappointing because the Buyers in your local market don’t want your home for the asking price because the online marketing to justified the value presenting and detailing the quality and condition of your home has just plain missed the Buyers for your home. You have basically failed to have you home marketed properly and now it will take hard decisive action to change the interest for your home.

You Didn’t Price Your Home to Sell

Sellers say, “But I don’t want to give away my house” or “I can’t sell it for less than…” Of course not. But to make a sale, the price must be right. It’s true now you are overpriced. The simple test is 3-5 qualified showings of your home with no offer, your price isn’t justified. Dated listings because of the internet are less than 30 days—homes that have been on the market for over 30 days—don’t generally sell for list price. You need to show motivation which means a price reduction.

You need to look at the market activity since you have been on market and see what other houses went into contract. Carefully review the sales and compare prices, make that price reduction, and see what else can be improved to sell your home.

How Does My House Look Online?

Check out the major websites (realtor.com, zillow.com, and trulia.com) for how your home looks digitally online. Are the photos representative and show your house in the best way? Is the first photo a great photo of the curb appeal of the house? Are the next 10 photos representative of the best features of the home. A great backyard shouldn’t the 30th photo, you really think users are going to look at every picture? They don’t and the views fall off sharply after the 10th picture.

Get quality, professional-grade photos; neither you nor your agents qualify as professional home photographers.

Make sure the photos capture the beauty, quality, and condition of your home.

  • Take the right pictures. Play to your home’s strengths. If a hallway is narrow, don’t take a picture of it. Kitchens, and master bedrooms/baths often sell the home. Get a close-up of your fireplace or other interesting feature instead.
  • Declutter the home, stage the home to look better. Make the home look as spacious and as appealing as possible
  • Make the Outside of the Home pop. Not only should your home look good online, but when they walk up to the house, it should look great.
  • Image Order Matters. The first shot of your home online should be the best shot of the curb appeal of your home.
  • Remember to include the backyard/gardens and garage. If they are upgraded or better than the homes in the area include those photos.

Not Marketing Enough

No single aspect of marketing sells a home. It’s a combination of efforts. Start with double checking the listing online to make sure important information like neighborhood/subdivision, schools are correct. Review the flyer and any marketing and make sure you approve of it. You are the current owner and I’ve learn the next buyer often resembles the current owner. If you don’t like the marketing why would any buyer like it?

  • Consider a direct mail campaign. Postcards to local residents especially when you’ve updated the listing makes sense.
  • Update your flyer and add riders promoting a new price, bedrooms, pool, and/or an upcoming open house.
  • If you don’t have a virtual tour, make your agent add one to the listing. Some buyers always look at virtual tours. Your missing potential buyers without one.
  • Massively advertise every weekend.
  • Hold open houses on Sundays that coincide with other neighborhood showings. Sometimes Thursday evenings attract buyers for twilight tours.
  • Get feedback from buyers who didn’t make an offer and have your agent notify any agent who showed the house about the new price improvement. 

Home Isn’t Up to Snuff

Take a sounding of the local real estate scene. If 90 percent of the homes in your market are not selling, then your home needs to outshine the top 10 percent. More specifically, look at the pending sales data, the homes that are under contract; that’s your best indicator. Information on already closed properties (the sort of comps your agent used to set the asking price) could be two to three months behind the current market movement. If you want to know what is happening right now, the pending sales data are best.

After arming yourself with this data, consider the condition of your property, from curb appeal to interior decor. Of course, your agent help you prepared your home for sale prior to listing, but maybe you should re-evaluate it in light of the competition and activity the listing. Ask your agent which efforts will give the most bang for the buck. Consider getting some pre sale inspections to address and counter any perceptions about your home not being move-in ready or being able to sell the home with the minor issues it has,

Last Resort – Hire a New Listing Agent

Your agent seems competent, experienced, and honest. Still, not all agents are right for all properties or all clients. Real Estate has changed if you haven’t sold a house in the last 5 years. The online marketing matters since its the first contact for active Buyers. If your agent doesn’t have great looking online listings you should find one who does. If the value for your home extends to lifestyle and community, you may want the top local agent who sells your market. However, the local agent should have online marketing you value.

You should make sure you are getting the service you think will sell your home. Dedicated agents who know your market are important but so is how your listing looks online and also is it syndicated to all the online real estate websites that matter and available to every buyer? For example is your home being displayed on the big three. realtor.com, zillow.com, and trulia.com. What is the social media reputation of your agent? Trust is key for online buyers.

What’s the communication level between you and your agent? Is the agent keeping you duly informed of all developments? Does the agent communicate the way you want andd how you want? we live in a connected world, however if you communicate best by phone or in person, is the agent communicating on the channel you want? If you need hand-holding, the agent they should provide it. If you don’t need it, the agent should leave you alone. But the relationship should always be within your comfort zone and what you want.

Finally, did you give your agent a chance? Did you minimize his suggestions, discount his advice. I believe there is always accountability but real estate is still about working closely, and trusting the experience of the agent to get it sold at a fair price that works for you and the buyer. Agents work hard and you no doubt you hire the agent to get the job done. You might be surprised by the results if you let your agent do what’s best and not second guess their decisions or cause them to alway be more concerned about your responses than doing the job they can do and believe will get your home sold.

One last suggestion. In a buyer’s market, price your home a minimum of a percentage less than the last comparable sale. If you can’t live with that price, then don’t put your home on the market and set yourself up for disappointment. Overpricing is the worst mistake a home seller can make. If there is a way to

Are real estate commissions negotiable

Saving Commissions Selling Your Home

, , , ,

I’m going to make an assumption that you want some level of assistance to sell your home. You are not looking to “sell it yourself” but think you can save commissions. Typically seller’s pay the commissions to sell their property. These commissions are negotiable but typically 5-6% of the sales price of the home. There is a lot of “disruption” in the real estate world in my opinion is nothing more than clever marketing where Seller’s are being marketed saving money where in reality it may be under marketing or under selling their home. Let’s see if we can deliver some information to help you decide what the best option for you to sell your home. Here’s some thoughts you should consider.

What Closing Costs do Sellers Pay?  How Much Do Full Service Real Estate Agents Make?

In the online age, paying the 5-6% commission (although it can vary) might seem unnecessary. Especially if you can take decent photos and know your way around a contract. On the other hand, full service real estate agents spend years developing the expertise it takes to accurately price a home and then negotiate its sale, so it’s safe to say it’s not a skill set you can learn in a weekend. Also a experience local agent has market intelligence that is necessary displayed and available online

What Are À la Carte Services?

If you already have a working knowledge of real estate and experience with selling your home in the past, you could benefit from à la carte services offered by some real estate brokers. Agents that fill these roles often call themselves “consultants” and instead of charging a flat percentage or flat fee of the sale, they allow sellers to purchase the help they need without paying for what they don’t.

If you choose this route, you will either pay the real estate professional by the hour for a specific task or a flat fee for bundled services and will have to manage the rest of the process on your own. Typical bundles include:

Pricing Assistance. A real estate agent will give you a comprehensive market analysis and guidance on pricing your home.

Listing Assistance. In this bundle, the brokerage will arrange for professional photos of your home and prepare a virtual tour to create an online listing for your home.

Contract and Negotiation Assistance. Once you have an offer you’d like to accept, the real estate agent will draw up a purchase contract and represent you at the home inspection and appraisal tour. They will negotiate with the buyer’s agent on price and any immediate repairs or contingencies they request.

How Do I Know Which Real Estate Company To Choose?

Each local brokerage or online real estate company will offer different ways detailing services/arrangements at varying rates so I advise you to research throughly to get a sense of your local market and what companies are active. And then think about getting the answers to these questions before you decide what help you need and whether it makes sense to use these options for selling:

Have you sold a home in the last 2 years? If the answer is no. The laws and regulations around home sales change from year to year so you will either need to re-familiarize yourself with your state’s laws about contracts, contingencies, seller disclosures and typical time frames for home inspections and appraisals, or hire an agent to take care of this part. Second the online marketing for selling a home is changing almost daily, how your home is displayed online is almost as important as the working arrangement you have between the company.

Is the online listing is included, syndicated to all major real estate websites, and has professional photography too? If your listing isn’t distributed or syndicated to every major real estate website and the 100s of local agent websites your at a disadvantage to sell the property. If buyers can’t see it online everywhere thats a problem. If the images don’t look good thats a problem too. Does the website hosting the listing have all the cool tools like realtor.com? Most do not and again a serious disadvantage if the distribution of the home is limited by the real estate company you’ve hired.

Who is showing the home?  In the conventional local agent arrangement, the seller’s real estate agent conducts the one-off home tours and open houses.  But unless you hire a consultant to do this for you, you will be responsible for meeting the potential buyers and their agents and selling the attributes of your home. Another thing to keep in mind, most consultants won’t be available to host open houses because its not part of the service they provide.

Qualifying Buyers? Does the arrangement include a showing agent? You might feel awkward asking for this, but the letter is essential to knowing whether or not the potential buyer can afford your home.

Whose negotiating the contract, and are they representing you properly? Do you trust the Company? Some Companies you may be dealing with getting and negotiating all contracts with the seller? Does the company have experience in your local market? If the company is regional or national, you may need to be familiar with industry standards, the typical cost of repairs, and how certain issues affect the value of your home. If the Company you hired to list your home represents the Buyer is that acceptable to you?

How will you communicate?Do you have a dedicated agent or consultant or is it random? Who do you discuss issue with and how fast will they be fixed? When are they available? Do you submit a support ticket? Selling a home often demand immediate response from the listing agent. You may not have a dedicated listing agent that is normal for conventional local real estate in your market.

Upfront Costs? In a traditional full-service arrangement, the costs are paid by the seller out of the sales proceeds, so they don’t have to come out of pocket for anything upfront. But if you arrange for any consulting services, you will have to pay for those either upon signing the contract or upon completion of the task.

How Many “No”s

After answering all of the above questions honestly, how many “no”s do you have? Its really not about the “no” its about what you are really negotiating away and how much are you really benefiting by attempting to save agent commissions.

Buying a home is not a online experience. Sure Buyers browse, view, and find homes online but that is where the online experience is basically ending for most buyers. Although billions have been spent to market selling or buying real estate is simple and easy, there is still a significant amount of local knowledge and information not available online. This knowledge and information is what local agents use to sell homes successfully. A good local agent should be part of your process to decide which company to use to sell your home.

Does 1% of the Sales Price Make Sense?

Real estate commission in Placer County are closer to 5% than 6% of the sales price for listing and selling a home. Most online real estate companies promising a low fee to list are subject to the minimum fee (For example they will list your home for 1% subject to a minimum listing fee of $6,000). Some firms have raised their commissions because the model isn’t profitable. Make you wonder if they are cutting services to you to increase profits. In the end the Seller is taking on a lot of responsibility to sell the home all for roughly 1% of the total commission associated with selling the home. The accountability that used to be on your local real estate agent is now offloaded to the Seller. Seller’s often don’t know that the commissions to sell their home are split between the listing and buyer’s agent. The online companies will share with you that less than 2.5% to the buyer’s agent will put your home at a disadvantage to be sold. There is a major lawsuit about commissions being pushed through the courts.

If you decide the commission savings are worthwhile, make sure you interview the prospective online real estate companies to get a clear idea of the help they will provide. And then get to work!

learn how to make your home show ready

Stage Your Home To Look Its Best While Selling

, , , , , ,

Staging or making your home “show ready” helps buyers imagine themselves living in it.

If you want to sell your home faster, staging a house is a tactic home sellers should consider. Staging a house gets your place showroom-ready and allows buyers to imagine themselves living there. Home buyers are used to seeing picture-perfect houses—in person, on home decorating shows, and in online listings, so learning how to stage or make you home “show well” a house can make a big difference when selling.

What does staging a house mean?

Staging a house is the process of strategically arranging furnishings and decor to make a house look its best while selling. This may involve paring down and refreshing your own belongings, or moving all of your own stuff out and renting furniture and decor.

Here’s how to stage a house.

Get rid of clutter.

The most essential task when staging a house involves purging and cleaning—a clean, empty-as-possible house looks bigger. Remove knick-knacks and personal items from all surfaces. Don’t just put them in closets; potential buyers usually look in those, and you want yours to appear roomy. Box up spare belongings and get them out of the house.With the clutter gone, do a deep cleaning. Make your kitchen and bathroom sparkle, and be sure to close the toilet lid before any showings. Air out the entire house by opening the windows—air fresheners or scented candles can trigger allergies, and you don’t want prospective buyers feeling itchy. If you have pets, wash everything they touch—no one likes pet odor. Consider hiring a pro for the deep clean if you have room in your home-selling budget.

Aim for a light and bright look.

Buyers typically like to see bright rooms, so lighting is an essential part of staging a house. Open your blinds or pull your curtains back before a showing. Make sure your light fixtures look appealing. If your lampshades are dingy or your fixtures are dated, consider replacing them. Even dusting your bulbs and fixtures can help let more light through.Play with different color temperatures of lighting as well—the whiter the light, the more it will look like daylight. You can check the Kelvin rating on light bulb boxes to help you choose the right one: soft white is typically 2700K-3000K, and daylight runs between 5000K–6500K.

Stage important rooms first.

We’re about to get into the part of staging that can cost money—renting furniture, or removing some, which can require a storage unit. This can be a considerable cost of selling your house, so if you don’t have the time or money to stage your whole house, you can get the most bang for your buck by staging certain rooms. The main living area is the most crucial space to stage and look appealing to buyers. Next comes the master bedroom, followed by the kitchen. Rooms that are an important in your home should also be considered. Secondary bedrooms are often okay to leave as is but should be tidy and clean.

Remove and/or rent furniture.

A good rule of thumb is to remove about half your furniture. This could be difficult since you may still need to live in the home. But your house will look bigger and more appealing to most buyers with less furniture in it. If your furniture just doesn’t look showroom-ready (or if it’s already moved into your new home), you can rent nice, new pieces. Put your furniture in storage, or sell or donate it if you won’t be taking it with you.

Arrange furniture.

Once you’ve settled on the furniture that will occupy the staged home, position couches, chairs, and tables away from your walls. This is a design technique called “floating” the furniture. Anchor the space with an area rug, even if the room has wall-to-wall carpet. This creates a cozy, intimate space, ideal for chatting with friends and family.

Work on your home’s curb appeal.

“Curb appeal” is a real estate term for how nice your home looks on the outside at first glance. It’s a big deal when staging a house because the exterior is the first thing potential buyers see. Get buyers in the door by doing the following:

  • Power-wash your house and walkways.
  • Clean your windows.
  • Make sure your house number is easy to read.
  • Mow the lawn.
  • Trim overgrown greenery.
  • Plant flowers.
  • Put a welcome mat and potted plants on your front stoop.
  • If you have a porch, include outdoor furniture.

The little extras matter.

Once you’ve learned how to stage a house and yours looks perfect, add some finishing touches inside. People love to see fresh flowers in vases, a bowl of fresh fruit on the kitchen counter, and folded towels in the bathroom. If you’re living in your home while selling, you can keep your nice extras in a closet so they’re ready to go quickly when your real estate agent calls to say a buyer is on the way.Now that you know how to stage a house, you could have your home sold in no time.

Getting you r home ready to sel

How to Get Your House Ready to Sell

, , , , , , ,

Wondering how to get your house ready to sell? If you’re looking to sell your home during primetime which is during the first six months of the year in South Placer (we’ve got great weather!). Learn more about getting your home ready to sell.

How to get your house ready to sell

Unfortunately, getting a house ready to sell is not as easy as posting an add on Facebook. If you want your home sweet home to stand out from the competition, you need to make it shine. So, here’s how to whip your place into shape by discovering any problems and upgrading the eyesores. Because like it or not, your home has sustained some wear and tear over the years. Here’s how to assess the work you should do and find out which if any updates will pay off to help you sell.

1. Look at the big ticket items in your home, are they old?

No matter how great your home looks at first glance, any savvy buyer will point to various parts and pop the question: How old? And since guesstimates won’t cut it, you will need to gather some paperwork to get your house ready to sell. If you’ve purchased your home in the past few years, check your home records or seller’s disclosure for the age or last repair of big items (namely your roof, HVAC system, water heater, and gutters), or dig up copies of your own maintenance records or receipts.

Pro Tip: How long items last depends on a lot of factors such as the model and how well it’s been maintained, but you can get a general idea of average lifespan. For example:

  • Wood shingle and shake roof: 15 to 30 years
  • Central air-conditioning unit: 15 years
  • Electric water heater: 14 years
  • Gutters: 30 years

2. Do your own walk-through

Be a “buyer” and go through your home, room by room. Look for signs of damage that might drag down its value.  Need inspiration? Think about these types of issues looking at your home:

  • Wood rot around outside door frames, window ledges, and garage doors. Condensation and rain can cause these areas to weaken and rot.
  • Water stains on the ceiling or near doors and windows. This can indicate a leaky roof or rain seeping in from outside.
  • Leaks under sinks or around toilets.
  • Bulges under carpet or discoloration on hardwood floors, which can indicate flooding problems or an uneven foundation.

Next, test what’s called the “liveability” in every room. For example: Cracks visible in the walls and floor, doors that don’t shut right, broken handles on cabinets, basically anything that doesn’t work perfectly should be repaired. And don’t forget to inspect the outside.

3. Bring in the pros to streamline the fixing

Once you’ve done your own walk-through, you may want to have a pro take a second look before you decide you’re ready to sell. These people can spot flaws you overlooked, because either you’re used to them or you didn’t realize they could cause trouble. My recommendation is to get a pre sale inspection for your home. There are companies specializing in a comprehensive home inspection. While your at it get the roof and order a wood pest inspection as well.

Pro Tip: While the cost varies, people pay $300+ for a home inspection. Go to the American Society of Home Inspectors to find an inspector in your area. It may cost a bit, but it will buy you the peace of mind of knowing you’re not in for any surprises down the road. In fact, having a home inspection report handy to show buyers can inspire confidence that they (and you by association) aren’t in for any nasty surprises as you move toward a deal.

4. Decide what needs renovating or not

Once you know what in your house could stand for repairs, it’s time to decide what to fix. Don’t worry, not everything needs to be done before your home is ready to sell. And while you’re probably not thrilled at the idea of renovating a property you’re going to sell, certain fixes will give you an edge over the competition, which means more/better offers. Remember, to think like a buyer when selling your home. Fix what matters and you’ll get better results selling.

But don’t just obsess over the obvious—e.g., your kitchen could stand for new cabinets. After all, many buyers will want to tweak cosmetic details to their own tastes, so you could be throwing money down the drain. Instead, focus on fix-its that are more relevant to living in the home, buyers like to know are in good shape.

Pro Tip: If you are going to make the home shine. A recent study by the National Association of Realtors® found that upgrading hardwood floors reaps an estimated 100% return on investment, essentially paying for itself. Upgrading your insulation can net you a 95% ROI, a new roof a whopping 105%! Because what buyers don’t like to know they’ve got a solid roof over their heads?

Load More