Category Archives: Get It Sold

6 Reasons To Reduce Your Home Price

While you’d like to get the best price for your home, consider our six reasons to reduce your home price.

 Home not selling? That could happen for a number of reasons you can’t control, like a unique home layout or having one of the few homes in the neighborhood without a garage. There is one factor you can control: your home price.

 

 

These six signs may be telling you it’s time to lower your price.

1. You’re drawing few lookers

You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it’s overpriced and are waiting for the price to fall before viewing it.

2. You’re drawing lots of lookers but have no offers

If you’ve had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.

3. Your home’s been on the market longer than similar homes

Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you’re pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there’s something wrong with it, which can delay a sale even further. At least consider lowering your asking price.

4. You have a deadline

If you’ve got to sell soon because of a job transfer or you’ve already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It’s not how much money you need that determines the sale price of your home, it’s how much money a buyer is willing to spend.

5. You can’t make upgrades

Maybe you’re plum out of cash and don’t have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn’t as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it’s time to accept that buyers expect to pay less for a home that doesn’t show as well as others.

6. The competition has changed

If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what’s still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.


Provided by Houselogic.com
Image: Liz Foreman
Read more: http://buyandsell.houselogic.com/articles/6-Reasons-To-Reduce-Your-Home-Price/#ixzz35kzXmTqZ
Copyright NATIONAL ASSOCIATION OF REALTORS®.  Reprinted with permission.

10 Easy Staging Tips for Curb Appeal

Curb Appeal

No matter the asking price, simple curb appeal changes can set the scene to immediately attract buyers to a property. Data shows that a majority of home buyers look at properties online or drive by before contacting an agent. As a result, the exterior of the property is always a major selling point.

The decision to buy starts when the prospects step out of their car in front of the property. Prospects will immediately imagine what their friends and family will think when they drive up.

Here are 10 easy steps to make the most of your curb appeal. (It is well worth the expense to hire someone to make these changes if you do not have the time!)

1. Make sure the lawn is mowed and the landscaping is pristine. Keep your gardens neat and healthy, and repair visible damage.

2. Clear the yard. Remove any visible trash cans, toys, tools, rusted outdoor furniture, old lumber, or yard debris.

3. Paint house trim and touch up concrete steps to freshen the look.

4. Paint the front door to give it a fresh look. Repair screens and screen doors.

5. Invest in a new and colorful welcome mat at the front door.

6. Add a potted plant to the side of the front door.

7. Replace the old brass doorknob and lock with brushed nickel.

8. Make sure the street numbers are polished, in place, and easy to see, even if this requires some major shrub or flower trimming. If your street numbers are painted on the curb, repaint them.

9. Replace that old, rusty mailbox in favor of a sleek, modern one. If your mailbox is attached to the house, replace it to match new hardware on the front door handle.

10. Wash all of your windows inside and out. The sparkle will show.

Curb appeal is extremely important when prospects are first beginning to make decisions about which properties they want to see with an agent. These simple changes will differentiate your property from others on the same street or nearby.

By Kimberly McMahon, Let’s Organize/Let’s Move

http://realtormag.realtor.org/

Copyright NATIONAL ASSOCIATION OF REALTORS®.  Reprinted with permission.”

You Just Moved In…. Now What? 6 Immediate Yard Care To-Dos

Home owners will be off to a good start with their new yards by following these important “move-in” steps. First and foremost, members of The Professional Landcare Network (PLANET), the national landscape industry association, recommend making safety a priority for your yard by doing the following:

1. Do a walk-thru of the yard and check for any dangers. Inspect the trees and evaluate the health of mature ones. One of the greatest assets in a yard are mature trees — they not only provide beauty but also shade and significant cooling to the home. Make note of any trees that don’t look healthy, may be diseased, leaning or are too close to the house. Consult with a licensed arborist to assess the health of your trees.

2. Evaluate the hardscape. Make sure any hardscape areas – stone or retaining walls, concrete or brick patios, tile paths, or wooden decks — are not heaving or creating tripping hazards.

3. Inspect the drainage around the house. The drainage should not cause any water to stand near or next to the foundation, which will prevent saturation of the soil and affect the foundation.

4. Make a plan to perform routine maintenance and clean up. Clean up any brush or debris in the yard. Weeding and mulching is an inexpensive way to make a yard look great; it also provides health benefits to the plants. Consider planting annuals to add some color and impact to the yard. Learn about your plants and shrubs and how to best take care of them.

5. Check the soil. The soil is the foundation of everything in the yard — grass, plants and trees depend on healthy, well-balanced soil to flourish. Composting will improve the soil. Your lawn care professional or a DIY soil kit available at home improvement and lawn/garden centers can test the soil’s condition.

6. Study the PLAT map. The PLAT is a map, drawn to scale, showing the divisions of the piece of land; this is helpful for any restrictions that could prevent home additions.

For more tips: visit www.loveyourlandscape.com

Copyright NATIONAL ASSOCIATION OF REALTORS®.  Reprinted with permission.”

What every buyer should know!

Select your agent carefully

Like any profession… Real Estate agents come with different level of skills involving communication, education, professionalism, even accessibility.   Make sure your agent knows what is important to you.

Work hours– If you are someone who is only available during evening hours or on weekends, make sure that your agent is willing to work during those time frames.

Communications– Do you prefer text, email or phone?  Make sure you and your realtor are comfortable with the same method of communication.  Also discuss the frequency of communication.

Education and Experience– Don’t be afraid to ask about experience and education.   Continuing education is a licensing requirement for real estate agents.  In addition to basic continuing education hours, there are certifications that can be earned with a focus on a certain aspect of real estate, such as commercial, negotiations, working specifically with buyers or sellers.  Examples are the “ABR” Accredited Buyer Representation, or  “GRI” Graduate Institute of Realtors, or EPro, with a technology focus.   Typically a realtor will list these certifications on their business cards, but don’t hesitate to ask.

Personality– Even if an agent meets most of the above criteria, you will want to select an agent that blends well with your own personality.  Common sense will prevail here, if you feel there is something annoying with an agent, then move on to another.  Your relationship should be based on trust and compatibility.

Understanding how a real estate agent gets paid.

When a seller lists their property, they contract with the listing company to pay a commission, typically based on a percentage of the sale price, when the home is sold.  This is paid at closing, and typically split between the listing agency and the buyer’s agency (referred to as the selling office commission).   As a buyer you are not responsible to pay any portion of the real estate commission, but your agent does get paid as a result of your purchase.  It is important to look at this as a business relationship between you and the agent you have chosen to work with.   Many clients/realtor relationships last a lifetime.

Working with your agent.

Once you find an agent, it’s time to get down to business.  You and your agent will discuss what you want to purchase, your budget, how you are planning to pay for it, and any timelines you might be working within.   After which, your agent will begin the process of weeding through potential properties, calling agents, verifying lending and setting up appointments.   It’s common for an agent to put in several unseen hours researching, selecting and scheduling to set up a single afternoon of viewing homes.  Rarely do buyers find the perfect home on their first journey out with an agent, but each appt helps fine tune the buyer’s likes and dislikes.  Purchasing a home is a large investment and it can take time to find the perfect fit.

Loyalty and Trust.. Win Win

Understanding how your agent gets paid can prevent unintentionally leaving your agent out on payday.  The agent that writes the contract on behalf of the buyer is the agent that gets paid the “selling office commission”.  So if you have an agent investing hours, gas and working hard to find you a home and you want them to be the one getting paid, they need to be the one who writes the contract.  Navigating from agent to agent or using two agents, means someone is doing a lot of work and is not going to be compensated.  The relationship with your realtor can last a lifetime.  Someone you can seek advice from well beyond your initial purchase.  Your agent will keep you informed on the market as your investment grows, and be there when you are ready to sell or purchase again.

Dedicate yourself an agent.  If it turns out that the relationship with the agent you selected is not working, then make it clear and find one you can work with.

Using the seller’s agent?

Understanding the reasons a seller is willing to pay a commission to sell their home will help you understand the role your agent will play.

1)      Exposure being the obvious reason a seller would want their home listed

2)      Laws.  There are a lot of legalities that go with selling a home in order to protect both the buyer and seller.

3)      Contracts can be complicated and although designed to protect everyone, can be written with more protection or to meet specific needs of either the buyer or seller.

4)      The right price.  No one wants to get a year down the road to suddenly discover they sold too low or paid too much.

5)      The listing agent has been contracted to represent the seller and put the seller’s needs above all others.  To ensure you have someone putting your needs first, work with an agent you know and trust.  Remember the listing contract is set and ready to compensate both the listing and the buyer’s agents (selling office commission).   Working towards a clean professional transaction is the goal, and everyone wins.

Shopping in another area?

If you find yourself relocating out of the area, or shopping in multiple areas, your agent can refer you to equally trusted agent with similar skills and personality in those other areas.  Agencies are linked and so are agents with certain certifications, networking back and forth.  Your agent will likely suggest a trusted agent from a linked agency to cover the other areas.  Referring agents often share or split commissions so that everyone is compensated and you remain in good hands.  Don’t hesitate to tell your agent that you are looking in multiple areas, they can help.

Image: renjith krishnan / FreeDigitalPhotos.net