Reasons why home sellers want to sell now
It’s a sellers’ market; according to 58% of homeowners, that is. Here’s some reasons why sellers want to sell their homes and move:
- 40% want a larger home
- 20% want a smaller or less expensive home
- 24% are relocating
- 21% want to pull out equity
- 19% have had a family change
- 15% want to move to a better school district for the kids
Why would you want to move?
This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.
Consider before you ignore or outright refuse a very low purchase offer for your home. A counteroffer and negotiation could turn that low purchase offer into a sale.
You just received a purchase offer from someone who wants to buy your home. You’re excited and relieved, until you realize the purchase offer is much lower than your asking price. How should you respond? Set aside your emotions, focus on the facts, and prepare a counteroffer that keeps the buyers involved in the deal. Continue reading
Have a plan for reviewing purchase offers so you don’t let the best slip through your fingers.
You’ve worked hard to get your home ready for sale and to price it properly. With any luck, offers will come quickly. You’ll need to review each carefully to determine its strengths and drawbacks and pick one to accept. Here’s a plan for evaluating offers.
1. Understand the process.
All offers are negotiable, as your agent will tell you. When you receive an offer, you can accept it, reject it, or respond by asking that terms be modified, which is called making a counteroffer. Continue reading
How do buyers and sellers select a real estate office and agent?
The customer service home buyers and sellers receive is key in their decision on whom to work with.
Buyers choose firms based on Continue reading
Up from the previous year, sellers in 2013 are feeling pretty good about the current level of home prices.
43% of sellers think that real estate prices will move up in a year (while in 2012 only 9% thought that way). With time, home sellers tend to think that home prices are even more likely to rise; 58% of sellers in 2013 Continue reading
You’re finally ready to put your home on the market, but want to ensure you get top dollar. Are there any easy fixes that can increase your asking price without breaking your budget? Here are some tips, ranging from free to under $1,000. Happy selling!
1. Invite a REALTOR® over to give you suggestions on how you might increase the value of your home. REALTORS® will often do this as a courtesy, and many can offer great ideas for low-cost upgrades based on their day-to-day experiences.
2. Get an inspection to make sure you won’t be blindsided by hidden problems once your home’s on the market. Some small problems can cost a lot if they’re ignored for too long. So be proactive and see what your home needs to be in top condition.
3. Get an energy audit to see how you can improve the efficiency of your home. Many utility companies do energy audits as a free service, and figuring out how to make your home more efficient can be a great marketing tool when you decide to sell.
4. Paint! Applying fresh coats of paint to every room is relatively low cost, but can be time consuming, which is why many people decide to forego this project. But take the time if you can, because it will pay off. And remember, neutral colors are best because they appeal to most everyone.
5. Plant a tree, or two. Even if you plan on selling your home in a week, planting trees is always a good investment in your home. If the tree has time to mature, and provides shade to your home, it can cut down energy cooling costs as well, sometimes by as much as 40 percent!
6. Use native plants to increase your curb appeal and save money on water. Find out what grows naturally in your region and showcase those plants in the front of your home. Saving water is a great benefit to new homeowners, and planting native plants is an easy way to “go green.”
7. Install a water filtration system in your kitchen. The cost to install these is fairly low, but is one of those small details that home buyers love.
8. Remove your popcorn ceiling. This sounds expensive, but scraping away the popcorn texture from your 1970s ceiling is actually a fairly inexpensive DIY project. Just visit your hardware store for advice, then start scraping.
9. Hire a lawn service company to cut your lawn and trim your hedges. Having this task professionally done before listing your home can go a long way towards improving curb appeal.
10. Hire a cleaning service to make the inside spotless. Again, this is a low cost way to make a great first impression.
11. Rent a storage unit. One way to really open up the space in your home is to rent a storage unit and put half your furniture in it for safe keeping. The relative emptiness of the home is appealing to buyers because it gives the impression of more space.
12. Small upgrades in the bathroom and kitchen can improve a buyer’s first impression. Change out the knobs on the cabinets. Install updated lighting fixtures. Put in a new faucet.
13. Replace worn carpets or rugs. Area rugs are fairly cheap to upgrade. Replacing carpet with wood floors, or discovering the wood floor underneath, is ideal but may not be cost-effective for you. Do what you can to improve flooring. At a minimum, consider getting the carpets professionally cleaned.
14. Get a tankless water heater. Today’s home buyers are looking for eco-friendly details that will save them money long term. Upgrading your standard water heater with a tankless version is a fairly low cost way to improve the efficiency of your home, and help the earth too!
15. Upgrade appliances. If you’re able to upgrade any of your appliances it will increase the value of your home. Look for Energy Star-rated appliances so you can show potential buyers another way this home will save them money in the long run.
It is still, and most likely always, a fact that scams will be out there in real estate – just as in other areas of life.
The basic contexts of scams still remain the same, and the recommendations to figure out if they are or not scams are basically the same as well. A great real estate resource is available here: prevent loan scams link.
1) Real estate professional you know or myself, two opinions are better than one and mine is FREE.
2) Real estate attorney: They traditionally give you a free ½ hour consultation. I recommend this after your interviews with an active licensed Realtor. (Definition of a Realtor below).
3) Real estate accountant that is well-versed in laws of tax liability, as well as mortgage laws.
These are the 3 main points to consider when considering a sale, whether traditional or a short sale.
The definition of Realtor is as follows: they have a designated membership with the National Association of Realtors (NAR) and their own state association (In California it’s the California Association of Realtors – CAR), in addition to having a valid Salesperson or Broker license.
It is my opinion that the best person to represent you may not be a Broker after all, because their way of doing business (or amount of business they do) may not be what is best for the client that is choosing due to circumstances of sale, experience, and amount of successful business closed in related situations. There are new ways to make even more money for a seller that most agents do not know about.
Then for buyers, the full-time experienced agents who work mostly with buyers are better to look for, however they are not necessarily the better agent to use. As with the criteria sellers should look for, a buyer will want to make sure the agent they choose is very experienced and the lender they choose has the experience to match the agent, otherwise the buyer will most likely be in for a wildly fascinating ride. Being familiar with areas is also key, including demographics relating to school rankings and crime.
These are some of the major points to look at when choosing an agent.
Your comments or questions are always welcome…