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Home > Selling

The Highest Price May Not Be the Best

October 30, 2017 by

Much of the country is currently experiencing a strong sellers’ market. Homes are moving quickly and it’s quite likely a property may receive multiple offers. This is a strong position for you if you have your home on the market, but you need to be wise when judging which offer is actually the best one.

It is natural to want to take the highest price, but be smart and look at the whole offer to judge if it is really the best option. You want an offer that has a good chance of closing successfully and is not weighed down by unreasonable or undesirable contingencies.

Take this scenario, for example: One offer is $5,000 above the next, but includes a contingency for inspections and mortgage appraisal. The buyer making the second offer has conducted a pre-inspection and is willing to take the home as-is and waive the appraisal. You may decide the $5,000 difference is not worth the potential problems and take the second offer.

Another example: one offer is considerably higher, but is only putting down 5%. A lower offer that includes 20% down may be the better choice for you. A low down payment can mean the buyers are not really serious about your house and will pull out of the deal if they find something they like better.

Perhaps you receive one offer with conventional financing and another a few thousand dollars higher with FHA financing. This may be significant to your decision especially if you are in a hurry to close the deal because of a job transfer or other reasons. FHA loans have more stringent guidelines than traditional loans and therefore more risk for slower closing dates. It might be better to take the lower offer to dodge potential complications.

You want to avoid accepting any offer with risks that it could backfire. If your buyers get cold feet after your house has been off the market for several days, you are back to square one. The next buyers in line will assume something is wrong and momentum for selling your home could be stalled.

The following sliding scale is a good illustration of the worst to the best scenarios you could expect if multiple buyers offer the SAME price for your home:

  • All cash, no contingencies
  • All cash, pre-inspected
  • Big down payment, inspection & appraisal waived
  • Big down payment but contingent on inspection and other contingencies
  • Contingent on low down payment, inspection, appraisal, title & HOA review, low earnest money and asking for closing costs

As always, count on your agent to help you evaluate the strength of each offer you receive. Enjoy being in the driver’s seat while selling your home in this competitive market. The tables may turn as you begin the search for your next house!

Filed Under: Blog Tagged With: Featured, Selling

Reduce the Stress of Selling

July 15, 2017 by engageRE

There are many unavoidable tasks to tackle as you prepare to sell your home and move. However, you can reduce some of the stress with this checklist. Use it as a guide to avoid over-thinking and over-doing a few things. You’ve got enough to do already!

First:  Hire an Agent

You want to get the best price for your home and there are plenty of potential pitfalls before reaching that goal. A good agent will help you set the right price, handle marketing, manage negotiations and guide you through all the necessary paperwork. You will increase your chance for a quick sale with an agent working for you, so hire a well qualified person and listen to their advice. Let your agent shoulder some of the stress.

Restrain Your Urge to Decorate

A few strategic changes to your home may really boost your asking-price, but don’t overdo it. Replacing worn carpet and paint are good ideas, but choose neutral colors even if that may not be your taste. You might love a Southwest motif, but your potential buyers might flinch. Going neutral with everything as you prepare for a sale should make decorating decisions easier.

Don’t Over Do Improvements

Again, there are changes you can make that will help your house sell, but don’t worry about the small stuff. You might opt to replace outdated appliances or broken door hinges. Concentrate on necessary fixes, but don’t overdue it. There are plenty of repairs that you could make that will neither increase the home’s value nor accelerate the sale. Be sure to ask your REALTOR® what you should fix and what you should ignore before your house goes on the market.

Start Packing to Eliminate Clutter

Reducing the clutter around your house is a stress reliever because it helps get part of your packing done. This is your chance to weed out items you don’t want to keep:  donate some, recycle others and toss the rest.  A thorough clutter reduction before the house goes on the market will make it easier for you to do a quick clean up before each showing, too.

It’s Not Personal

When your house is for sale, you need to think like a business person and not a home owner. That means having a thick skin when prospective buyers are judging the pros and cons of your place. Of course, you have lots of emotion, memories and dreams tied up in your home. You need to put all that aside and distance yourself during the sale. Don’t feel badly if potential buyers complain about your choice of draperies or talk about digging up your rose bushes. Just get the house sold and then make plans for your next garden.

Don’t Stick Around

Get the entire family out the door when a showing is scheduled, including pets if possible. Buyers need to be able to imagine themselves in your home and that’s difficult if you are there. Refer back to the “It’s Not Personal” item above. They will likely say things that could hurt your feelings, so don’t stick around to hear their discussion. Avoid this stress, leave the house, and at the very least wait in the backyard while they are there.

Moving is a hard task and you want to get the sale completed quickly. Remove the stressors where you can. Before you know it, you’ll be handed the keys to your new dream house and be ready to start your next chapter.

Filed Under: Blog Tagged With: Featured, Selling

Housing Market Changes with the Seasons

May 15, 2017 by engageRE

Spring has sprung, which means the housing market is in full bloom. “For Sale” signs are sprouting up along with azaleas and dogwoods as buyers start to search for new homes. Each year, around 40 percent of real estate transactions occur between the months of May and August, with peak inventory times varying some depending on the region. Metropolitan areas in the Sun Belt have a much more consistent market, for example, because of their year-round warm weather. It is important to be aware that although there are advantages to buying and selling in these prime months, they aren’t necessarily the best time for real estate transactions.

Peak Season Market Tips for Buyers

House hunting during peak months has more inventory so you may be more likely to find your dream home. It’s also easier to conduct a home inspection when the lawn isn’t covered with snow. If there are problems with the air conditioner, the pool, the driveway or the roof, they are easier to spot in the summer. This is the easiest time to make a move with school age children, so families frequently opt for peak month purchases.

On the other hand, there is more competition. You may find homes being snapped up before you even have a chance to view them or you might find yourself in a bidding war for prime properties. Sellers are more likely to reject lowball offers or contingency requests. You may also discover that lenders and home inspectors have very busy schedules.

Off Season Market Tips for Buyers

Because there are usually fewer buyers, you may find that sellers are more willing to negotiate their price. You could find a real bargain if the seller has put the house on the market due to an urgency, such as an unexpected job change or a death in the family.

Of course, winter house hunting can be a headache working around the holidays and contending with bad weather. Inspections are more difficult in snowy areas. You might also find a number of homes that are for sale during these months because they failed to sell earlier. Be sure to ask your agent how long a house has been on the market and why it hasn’t sold if it has been languishing there for a while.

Peak Season Market Tips for Sellers

You can expect a better valuation for your home because the increase in sales will give more comparable data with heftier spring/summer sales. If all you have available are lower priced winter comparisons, your valuation could be hurt.

Green lawns and blooming flowers will make your home look its best and curb appeal is key. The arrival of daylight savings time means days are longer and buyers have extended time to look. More people viewing your home will give you a larger pool of prospective buyers. While buyers hope to avoid bidding wars, they can be a big bonus for you. Enthusiastic buyers are less likely to demand repairs or make other requests.

Off Season Market Tips for Sellers

You may have to contend with thrifty buyers who have waited for the off season hoping to find bargains. They may want you to take on closing costs or repairs that you will have to accommodate to get your house sold quickly. Buyers can be pickier this time of year and may decide to pass if your home needs lots of work.

The winter weather means more work to make your home look inviting. Shoveling walks and steps is essential both for visual appeal and safe access for visitors. You might want to have photos of your home during the spring months included in your online listing and displayed in the house for buyers to see.

Be Smart and Make the Season Work for You

Although some people are able to be very precise about when they buy or sell, most moves are dictated by life changes. Ultimately, the best time will be when it’s right for you. With the help of an experienced real estate agent, you can navigate the perils and advantages of the housing market no matter the season.

Filed Under: Blog Tagged With: Featured, Selling

A Seller’s “Love Letter”

April 8, 2017 by engageRE

Home inspections, sales history and a good school district are the kinds of things that tend to speak to a buyer’s head. A personal letter from you about your home can speak to the heart. A home sale is an emotional choice and a “love letter” about the features that have made your house a home can make your property stand out. It may not clinch the sale on its own, but it could certainly make your place more attractive and memorable to prospective buyers. Leave copies of the letter out during an open house next to other information provided by your agent. Some sellers frame their letter and leave it in a prominent place for buyers to see. Your agent could also email it to interested prospects. Be sure to include a photo of the house within the letter.

Your writing needs to sound authentic and sincere. Make it personal and positive. You can include family memories, details about the neighborhood, information about nearby shopping and restaurants, the schools your children attend, or a little history of the house itself. Explain some of the reasons why you have loved living in this home. The sample here incorporates many of these options:

Dear Home Buyers,

Nine years ago, we were searching for our first house. We had looked in many parts of the city, but kept hoping something would open up here in Deer Run. When this house became available, we only looked at it once before making an offer and still talk about how lucky we were to get it.

The house had all the things we wanted most on our wish list:  a gas stove and double oven in the kitchen, lots of storage, a laundry room by the master bedroom and a fenced yard for our dog. But it also had nearly everything else we hoped for – a pretty mantelpiece, room for my grandmother’s piano, and a big window over the kitchen sink. The large atrium area for the breakfast nook was an extra bonus.

So many traditions and memories are tied up in this home. We always put our Christmas tree in the front window and rearranged the furniture so we could sit on the sofa to look at the tree and watch the fireplace at the same time. Add a long table or two to extend the dining room seating out into the front hallway and you can have at least 20 people here for dinner. We did that lots of times for birthdays and holidays.

We had many wonderful parties out on the deck — there’s room for a crowd. Laughter and good food were enjoyed while the kids caught lightning bugs and played flashlight tag. The neighbors whose yards touch ours are all such good people. We’ve had many great talks over the back fence. The annual Popsicle Parade on the Fourth of July has always started in front of our house with everyone back here at the end. All our immediate neighbors help host it — so much fun!

Tomato plants thrive in the side yard and the dogwood trees are beautiful in the spring. There are pink and white peonies in front, lots of tulips and daylilies come up every year and the maple tree at the back of the yard turns a spectacular red color every fall.

Aside from our house, we are going to miss the neighborhood. We are close to a couple of fabulous restaurants (be sure to try the shrimp and grits at McNeally’s!), our favorite golf course is only a half mile away, and the kids can walk to the elementary school. Actually, if we could commute to Springfield, we wouldn’t consider moving, but it’s just too far away.

This has been a home filled with love and we wish you, the next owners, the same good fortune.

Be sure to sign your name. You are giving potential buyers a look at the special memories you created in your house. It might also be a gentle, cathartic exercise for you as you say goodbye to one part of your life and get ready for the next chapter.

Filed Under: Blog Tagged With: Featured, Selling

Planning for Pets While Selling Your Home

December 21, 2016 by engageRE

Although pets may be a significant part of your family, they can pose a challenge when your home is on the market. Pet hair and odors obviously must be addressed, but your furry friend’s presence may be the biggest problem. Although people love their own dogs and cats, they may not like others and they definitely will not be impressed with a property full of other animals’ noises, toys or hair.

Have a good plan in mind for dealing with your dog or cat before potential buyers come inside your home. Here are a few tips to keep in mind:

Clean, Clean, Clean!
Vacuum every day to keep the place spotless. Keep animals toys packed away and take down the big scratching post. Pack up the cages and carriers. Put food and water bowls out of sight before a showing. Remember the outside, too, and be vigilant with the pooper scooper while your house is on the market.

The Nose Knows
Smelly pet odors are bad and cat urine is the worst! Cat boxes and puppy pads must be put away before showings and kept super clean the rest of the time. Even a leaking fish tank can create an unpleasant stink. Don’t think that an air freshener can cover the scent — get rid of the smell with an enzyme cleaner.  Nothing will turn buyers off more quickly than bad smells and pet mess.

Repair Pet Damage
Carefully inspect all floor coverings.  You made need to hire a professional to get rid of the worst spots and stains. If you can’t fix the spots, replace the carpet. Cover scratches on the hardwood floors and doors. If your dog has clawed repeatedly on the back door, the marks will need attention. Has he dug up the yard or chewed on the fence? Be sure to inspect for pet damage thoroughly. If you have a dog house in the back, give it a fresh coat of paint.

Fleas! Fix!
If your pet has fleas, then they are in your home, too. Hire a professional exterminator to kill the fleas and have your pet treated. Fleas in your carpet and furniture will run buyers back out the door and your home will only be memorable to them because of bites on their legs!

Where Should They Go?
If possible, have your pets out of the house during showings. Take the dog to the park for a long walk or even to the office for the day. See if a friend can keep the cat for a few hours. Having pets at the house when buyers are there should be avoided if at all possible.  If not, kennel your pet or put up a temporary pen in the back yard and leave a note asking visitors not to disturb your animals. You will be running a big risk if your pet is roaming the house while strangers are there.

You want buyers to be able to see themselves living in your home. That means helping them see beyond your personal belongings, including your pets. Even a home in excellent condition will likely take a hit in sales value if pet damage and smells are not addressed. Neutralizing your pet’s presence will help you sell your home more quickly and at a competitive price.

Filed Under: Blog Tagged With: Featured, Selling

Selling Your Home During the Holidays

November 11, 2016 by engageRE

Putting your home on the market in December doesn’t sound like much fun. But, before you let your inner Scrooge get the best of your festive spirits, keep in mind that there are some characteristics of the season that might position you for a quick sale.

Deck the halls with a light touch.
Emotion is a big part of home buying and you can capitalize on that this time of year. Go light on all the holiday accents, however. Of course, you can put up a tree. Just make sure it’s not so big around at the base that it dwarfs the living room. You might put a little greenery above the fireplace, but don’t hide the beautiful mantle with everyone’s stockings. Yes, your most favorite nutcracker and Santa figurine can find a cozy spot. Just remember that a little jolly touch will look inviting, but an explosion of red and green everywhere will look cluttered. One person’s “merry” is another person’s “tacky”, so less-is-more with the holiday goodies.

In case you are really sad about skipping some of your usual holiday decorations while your house is being shown, keep in mind that next winter you should be relocated into your new home and your big Christmas village and all the other ornaments will be out again!

Curb appeal is still critical.
The same minimal touch goes for your outside decorating, too. Rein in any Clark Griswold impulses to have the house on your street covered with the most lights this year. A pretty wreath on the door or a string of lights accentuating the shape of the roof line are good choices. A big blow-up snowman… not so much. Another possible plus: a blanket of snow could make your home look like a winter wonderland and you don’t have to spend lots of time getting the lawn and flower beds in shape.

You need to have a knock-out online listing.
The majority of shoppers look online to check out listings and plan which to see in person. During the winter months, bad weather makes this especially true. You want your agent to make sure your home shows great online with excellent photos of beautifully staged rooms. If possible, include a spring or summer photo of your home so buyers can see what it looks like during another season. Including a video tour with your listing is a big plus for potential buyers who can’t get there in person during a snow storm.

Competition during the holidays is less fierce.
Lots of people are reluctant to sell their homes during this time of year, so the housing inventory is smaller. That may make it easier for you to get top dollar for your sale. Additionally, if someone is house hunting during the holidays, they are likely more motivated than usual. If your prospective sellers are willing to alter their holiday plans and go out in cold weather to look at properties, they are probably doing so because of a job transfer or something similarly compelling them to move in December or January.

Create a holiday-friendly schedule for showings.
If you are travelling during the holidays, showings are easy. Keep the heat on so the house hunters are happy, and enjoy a little peace of mind that your home will be checked on while you are away. When you’re home, set black-out dates so you can enjoy holiday company and celebrations. Your agent will help you with this if you let him/her know your preferred schedule for showings. It’s okay to have limited availability this time of year. People will understand.

It may look like a tremendous hassle, but selling your home during the holidays can be a stress-free experience if managed well. Partner with your agent to meet scheduling and staging goals and hope for a quick sale. If not, there’s always next year, right? And New Year’s Eve is only a few weeks away!

Filed Under: Blog Tagged With: Featured, Selling

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