Archive for the 'Sellers' Category
Five Reasonable Home Updates to Complete Before Listing Your Home
January 5th, 2012 categories: Sellers
There is no perfect formula for selling your home efficiently, but by following these 5 tips prior to listing, you can increase your chances to close quickly at a higher price.
1.) Update your old garage door. Garage doors seem like a non-issue, but many times they make up a significant percentage of the front of a home. Because of this, they are one of the first things that buyers notice when they pull in the driveway. Replacing, or even just painting, these central fixtures will do wonders when it comes to instantly impressing perspective buyers and standing apart from your competition. The market has changed drastically since many of us purchased our homes here in town. I frequently hear buyers say that they have crossed a house off their list because of the lack of curb appeal. This issue is especially important to people on busier streets, corner lots, or near a neighborhood eyesore.
2.) Replace old windows. Outdated windows age a home significantly, and you can often upgrade standard windows to vinyl for a reasonable $300 per window. The average home has 8 windows, so this upgrade doesn’t cost nearly as much as you might think and it will make a huge difference to the value perceived by prospective buyers. Key point to remember is that when buyers view a home they love, if they see it has older windows, they consider it a time-consuming and costly headache. First-time buyers have never replaced windows and often dramatically overestimate the cost to cure this issue. By replacing before listing, you can actually save money. A well priced, move-in condition home will sell for far more than one with windows in need of repair.
3.) Assess your floors. If you have hardwood flooring, it’s worth the investment to have them refinished considering buyers put an extremely high value on them. You’ll get the most bang for your buck if they are refurbished. Carpets should be shampooed or replaced if they are stained or look worn. You don’t need to spend large amounts of money on the highest grade or most modern name but something inexpensive and neutral will certainly bring you a return on the investment. Even the smell of new carpet will make buyers set your home apart from the comparables.
4.) Paint the trim. If you can’t afford the overwhelming task of painting your entire house, painting just the trim will still make a big difference when it comes to curb appeal. Painting the whole house can be expensive, time consuming and delayed by wether conditions; painting just the trim will give your home a fresher look. Interior trim is equally as important.
5.) Update fixtures. Keep an eye out for sales at home improvement stores and replace outdated lighting, plumbing and hardware fixtures. Simply replacing lighting fixtures and knobs in the bathroom or kitchen can update the entire look of the room. You can find many modern brand name fixtures online on contractor supply websites by searching terms like: sale faucets, sale plumbing fixtures etc.
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Best Day to List Real Estate for Sale
December 27th, 2011 categories: Sellers
Sellers should list their home on a Friday for the best chance of selling it, according to recent studies.
Data for 1.2 million listings in 16 markets nationwide were analyzed over the past 21 months. It was found out that of all listed homes in those 16 markets, those listed on a Friday were 12 percent more likely to sell within 90 days, and homes listed on a Thursday or Friday sold, on average, for slightly closer to list price: 94.4 percent compared with 93.9 percent when homes are listed on a Sunday or Monday. In other words, that’s a $1,000 difference on a $200,000 home.
“Our theory is that since home buyers tend to tour homes on the weekends (Saturday and Sunday have 2.5 times more tours per day than weekdays), homes listed on Fridays are the freshest in buyers’ minds when they’re making their weekend plans. It also seems likely that many home buyers sort their weekend ‘must see’ lists by date listed, going to see the freshest homes first so they have the best chance of getting in on a potential good deal before other buyers,” researchers said about the findings.
“These factors put homes listed on Friday in front of more touring buyers on the weekend. More tours lead to more offers, and more offers leads to a better price and a better chance of selling.”
In one respect, Sunday beat out any other day of the week: Homes listed on Sunday attracted slightly more online page views than the average online.
While the vast majority of homes are listed on weekdays, no one weekday was especially popular, with between 17 percent and 19 percent of homes listed on any given weekday. About 19 percent of homes were listed on a Friday during the time period studied.
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Price Cut Strategy
December 9th, 2011 categories: Sellers
During the bubble housing market, a price reduction was considered a stigma. This was a time when most listings sold reasonably quickly. A price reduction meant there was probably something wrong with the property.
That’s not the case today. Price reductions are common. Often a search of the Multiple Listing Service (MLS) will reveal more price reductions in a day than pending sales or sold listings. Now, a price reduction may simply mean that the listing is priced too high for the market.
To be priced right for today’s market, your home needs to appeal to buyers who are looking for a good deal. They are buying into an uncertain future. They are nervous about the direction of home prices. Have they bottomed out? Will they drop considerably from the current level? Will they remain flat for a while? Or will they steadily improve from here?
Most economists agree that if home prices continue to decline, and many believe they will, the declines won’t be as steep as they were in 2008 and 2009. Ken Rosen, chairman of the Fisher Center for Real Estate and Urban Economics at the University of California, Berkeley, thinks that we have hit bottom price-wise and are now bouncing along the bottom.
This means that there will be periods where the home-sale market will strengthen- ususally following good economic news- followed by periods of stagnation. Home prices could bounce up and down until a sustainable housing recovery is reached.
According to Rosen, the housing market is now in recovery. But it will take some time before we see price increases, except in areas with strong local economies and employment growth. Buyers need jobs- and confidence that their employment will remain stable- before making large purchases such as a home.
A tip from Kathy: Sellers need to look at their home through the eyes of today’s buyers when they select a list price or price reduction. Today’s buyers are crititcal and, with rare exception, are in no hurry to buy.
Interest rates and home prices are both low, but they don’t appear to be moving significantly higher soon.
Sellers often wait too long to lower their price, even though they are getting zero or minimal showing activity and other homes in the area are selling. In areas where prices are declining, sellers who wait too long to reduce their price may have to reduce it again because the market has changed.
Try to avoid chasing the market by reducing the price on your home after your competitors have dropped their price. Be ahead of the pack and reduce your list price before the competition does to avoid further price reductions.
It can be difficult to price right for a market that is continually changing. Sellers may list at a price that seems reasonable. But after a month or two of preparing the home for sale, they could find that their price is out of date by the time they are ready to submit the listing to the MLS.
Don’t let the sales prices of past listings keep you from making the right decision about where to price your home today. If you discover you are priced too high for the market, it’s usually wise to lower the price by 5 to 10 percent. Most sellers choose a modest price reduction and are disappointed when the showing activity doesn’t pick up.
It’s better to make a bigger, impressive price reduction and complete the sale more quickly, particularly if prices are still declining.
Bottom Line: Sellers who play hard ball and stick firm at a price that’s too high for the market are likely to find themselves playing alone.
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Crown molding adds WOW factor to an Open House
October 19th, 2011 categories: Home Improvements and Design, Sellers
Homeowners can add pop to their home in time for an open house by installing crown molding in their living room. The architectural addition may be the “wow” factor a seller needs to boost their bids, and the luxe accent can also help to hide imperfections while adding polish.
Sellers looking to cut costs can make adding crown molding a do-it-yourself project as well. To begin, individuals will need to decide between wood molding and particle board, which can be less expensive. Once materials are decided upon, the molding should be measured, marked and cut to fit into place on the wall, according to Home and Garden Television.
The most difficult part of installing crown molding is properly cutting corners. A power miter saw can help to make these tricky slices more accurate, according to HGTV. Bob Villa recommends starting out with some foot long test pieces to use as a model later.
Those who want to forgo making corner cutouts can purchase pre-made corner blocks which are ready to install. After pieces are cut, they can be attached to the wall using finishing screws. Gaps can be filled in with caulk so that exterior corners are flush.
If you or someone you know is looking to sell their home soon, please feel free to call or email me for a free consultation.
courtesy of HGTV
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Ten Tips for Selling a Home this Summer
June 21st, 2011 categories: Sellers
If you want to sell your home this summer, I say it’s a great time to do so! Here are 10 great tips to attract summertime buyers to your house:
- Mow the Lawn Twice a Week. Grass tends to grow faster in the summer. While you’re at it, try mowing on the diagonal or request for your gardener to do so. This adds dimension and extra curb appeal!
- Create Summer Curb Appeal. Trim the bushes, plant flowers, scatter mulch. Paint your house number on the curb. Sweep the walkway. Make your entrance warm and welcoming.
- Decorate with Summer-Influenced Accents. Look around your yard for color inspiration. White is a pure summer color. Vivid blues have a calming affect. You can replace dark winter decor by replacing with accent pillows or throw rugs with brighter, summer hues.
- Bring the Light Inside. If you have heavy dark drapes- remove them. They tend to make rooms look smaller and dreary. Pull all your blinds to the top and tape the strings underneath. Consider tie-backs if you don’t already have them for holding open lighter drapes or curtains. The only time you would leave blinds closed is if there was an eyesore outside the window, such as your neighbor’s garbage cans, etc.
- Go with the Flow of Summer. With daylight savings, it stays light outside longer. Some people like to skip out of work early. You might find buyers more interested in touring your home in twilight hours.
- Move the Home Outside. In California it rarely rains in the summer. You can move some living room furniture to the backyard. Not only will this free up more room inside the home, but it creates an outdoor living space with the items you already own. It’s an illusion created for a buyer that says, “Yes, you can own this lifestyle too!”
- Deliver the Sparkle. Gold, silver or brass pewter? It doesn’t matter. Mix them up if you like. Forget the old rules. Metals are summery. Vases, picture frames, mirrors, utensils, goblets, hanging planters to garden gnomes.
- Supply Summer Treats and Drinks. For some people in California, summer means red-and-white checkered tablecloths, potato salad, hot dogs and roasted corn on the cob. Fill the sink with ice and chill bottled water for thirsty guests. This will quench their thirst while they pause and admire the beautiful kitchen accents.
- Utilize Natural Scent Sparingly. Sometimes people overdo it with the strong air fresheners. Vanilla is a popular scent but it can overwhelm sensitive noses. Try filling the air with natural fragrances such as those from cut roses or honeysuckle vines.
- Control the Air Temperature. There’s nothing worse than a stuffy, hot room on a hot day. Circulate the air. Even if you have to place floor fans throughout the home, keep the air moving. Turn down the A/C to a notch below your comfort zone if the air outside is hotter than your comfort zone. Not so cold that it gives your visitors goose bumps; but chilly enough so that they don’t want to go back outside.
If you or anyone you know is looking to sell their home this summer, call me for a free consultation. Also, make sure to like us on Facebook for more great tips and Real Estate news. I look forward to connecting with you!
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Packing Tips for Moving
May 22nd, 2011 categories: Buyers, Sellers
Tips to make sure your valuables come out of their boxes in good shape.
- Use the right size boxes. Put heavy items like books in small boxes; light items like linens and pillows in bigger ones. (Large boxes packed with heavy items are a common complaint of professional movers. They not only make the job harder but also have a better chance of breaking.
- Put heavier items on the bottoms of boxes and lighter items on top. And if you’re loading the truck yourself, pack heavier boxes first, toward the front of the truck for balance.
- Don’t leave empty spaces in the boxes. Fill in gaps with clothing, towels or packing paper. Movers are hesitant to handle boxes that feel loosely packed or unbalanced.
- Avoid mixing items from different rooms in the same box. It will make your packing quicker and your unpacking a lot easier too.
- Label each box with the room it’s destined for and a description of its contents. This will help you and your movers know where every box belongs in your new place. Numbering each box and keeping an inventory list in a small notebook is a good way to keep track of what you’ve packed- and to make sure you still have everything when you unpack.
- Tape boxes well. Use a couple of pieces of tape to close the bottom and top seams, then use one of the mover’s techniques- making a couple of wraps all the way around the box’s top and bottom edges where pressure is concentrated.
If you like these and other tips provided by Kathy Villa, make sure to like us on Facebook. We look forward to connecting with you!
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15 Tips for Selling Your Home in the Spring
March 22nd, 2011 categories: Sellers
Spring is the ideal time to sell a home. Regardless of whether it’s a buyer’s market or seller’s market, home inventories usually increase in the spring. Why? Because the largest number of buyers are actively searching for a new home during the months of April, May and June.
Tip: If your home has been sitting on the market since the holidays, take it off the market. Give it a chance to “cool down” for a few weeks before putting it back on the market. Nobody is going to look at your home in the spring if the DOM show it’s been on the market for several months. Buyers gravitate toward fresh, new listings!
Here are 15 great tips you can do to improve the odds that your home will stand out among the sea of new listings flooding the spring-time real estate market:
1.) Wash windows inside and out/ polish all mirrors. Sparkle is free, and sparkle sells homes. A potential buyer may not realize why your home seems so inviting but will feel drawn to it if the windows are spotless and your mirrors reflect sunlight. Cleaning is the first step to preparing your home for sale.
2.) Rake the yard and trim back bushes. Clean out dead leaves and debris in your lawn. Don’t let overgrown vegetation block the windows or path to the entrance. Cutting bushes and tree limbs will let the sun inside and showcase the exterior of your home.
3.) Mow diagonally and edge lawn along driveway and/or sidewalks. Artfully manicured lawns are edged and tell buyers you pay attention to small details. Diagonally mowed lawns make your yard appear larger.
4.) Transplant tulips and daffodils or buy flowers in containers. Yellow flowers stimulate buying urges. After a long winter, everybody is anxious to see the first signs of spring. Yellow tulips and daffodils induce feelings of happiness and contentment. Arrange containers in groups of three or five near the entrance.
5.) Clean drapes, curtains and blinds and open every window. Send your window coverings to the dry cleaners or wash, dry and press. Toss blinds into a soapy bathtub for a quick wash. Get rid of all accumulated dust and spider webs. Crisp linens and a spring-time breeze through the windows invites the season inside.
6.) Set out fresh-smelling flowers such as just clipped lilac branches or peonies. Natural scents are more appealing than artificial and trigger fewer allergies among those susceptible. Peony vases are designed to hold peonies upright, but wash the flowers first to avoid carrying ants inside. Clever home staging brings color and fragrance indoors.
7.) Polish floors to a high gloss. Your hardwood floors should be refinished, if necessary. Make your ceramic and linoleum floors twinkle and shine. Bleach dull grout. Thoroughly clean all rugs.
8.) Utilize towels, throws, pillows in light colors- yellows, pinks, pale blues, lavenders. Even if it means replacing items; towels, linens, throws and sofa pillows are inexpensive accents you can buy in soft spring colors. They will light up a room. Layer towels on bathroom towel racks and place rolled wash cloths on the counters in a fashionable pyramid.
9.) Offer an outside mat for cleaning shoes and put umbrella stand at entrance. No matter where you live, spring weather is often unpredictable. If it’s raining, give buyers a place to stash umbrellas and wipe their feet before entering your home. Some sellers lay down plastic runners across floors for protection, but that tends to ruin the effect of a glittering polish job.
10.) Buy brightly colored helium balloons. Stationery and party-supply stores sell helium balloons for about a dollar each. So, there’s no reason not to pick up a couple dozen balloons to tie to your open house signs. Balloons build excitement and will get your home noticed by home shoppers.
11.) Set out four-color flyers and financing options. Don’t skimp on your marketing materials. You want home buyers to select your flyer among dozens they pick up. Color sells better than black and white. Show home buyers how easily they can afford to buy your home by giving 2 or 3 financing options. The first thing on buyer’s minds when considering a home purchase is the monthly mortgage payment. Don’t make them guess.
12.) Use a color photo for display advertising. Spend a little more on newspaper and online advertising by including a color photograph in your ad. Remember: a picture is worth a thousand words. Look through your photo galleries for a seasonal photograph that flaunts your home to its best advantage.
13.) Mail four-color postcards with UV coating. I can always obtain a direct-mail list from my title company of your surrounding neighbors. Have your agent or myself print four-color over-size postcards and include a UV coating to give the marketing more oomph! Use first-class postage.
14.) Fill sink with ice to chill bottled water for guests. Put a couple dozen bottles of water in a sink of ice for buyers. You can also tape labels to the to the bottles, printed from your computer, with your agent’s phone number, a photograph and address of your home.
15.) Set out treats, individually wrapped in a cellophane and tied with ribbon. Touring homes makes buyers hungry. Give them a snack. It will give buyers an opportunity to linger in your kitchen and marvel at its elegant appointments, which might otherwise be overlooked.
If you or someone you know wants to sell their home this spring, feel free to call or email me for a free consultation. Be sure to like us on Facebook also. We look forward to connecting with you!
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Working with a Real Estate Professional is More Important Than Ever
February 21st, 2011 categories: Buyers, Real Estate News, Sellers
In a landmark study examining the home buying and selling preferences of consumers, 95% reported that working with a real estate professional is just as important, if not more important, than it was just a few years ago. The survey results were released in a new research paper entitled ‘Keepn-it-Real‘ by MRIS, the area’s Multiple Listing Service and leading developer of real estate information technology.
“In today’s housing market especially, this is no time to go it alone,” says John L. Heithaus, Chief Marketing Officer of MRIS. “With 95% of all buyers and sellers reporting that working with a professional real estate agent or broker is important, it is evident that consumers understand how vital they are to the process. A real estate professional has the industry knowledge, networking ability and expert guidance on home buying and selling to deliver the best customer service and advice, and provide a successful experience for consumers.”
Additionally, the Keepin’ it Real report reveals that 68% of buyers and sellers rated their agent with a six or seven, on a 7-point satisfaction scale. This high level of consumer confidence reinforces the credibility of the real estate professionals. Nearly half the consumers surveyed, or 48%, found their agent by way of referral. Moreover, 80% of consumers stated that they would recommend their agent to a friend or family member, especially those that purchased or sold a home in the past twelve months.
Although in years past, the agent was the first step in the home buying or selling process, today, Internet-savvy consumers can gather information and educate themselves, long before contacting an agent. The internet empowers consumers to search for homes and neighborhood information, compare pricing and explore financing options on their own. Yet, despite all of the tools and resources available, when it comes time to actually buy or sell a home, there is nothing more valuable than the industry knowledge, expertise and guidance a real estate professional brings to the table. The Keepin-it-Real research paper is confirmation that today, more than ever, a real estate professional is an invaluable resource in the home buying and selling process.
If you or someone you know needs the help of a Real Estate Professional and can benefit from my 25 years of experience, have them call or email me for a free consultation.
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Resolutions for Home Sellers in 2011
January 21st, 2011 categories: Sellers
If your New Year’s resolution involves selling a home in 2011, then you’ve got some work to do. There’s lots of inventory out there and in a buyer’s market like this one, getting an offer on a home can be challenging.
But if you are a committed seller willing to do some prep work and come to terms with the current value of your home, locking in a buyer is not impossible.
By listing in January, you might be able to catch some of those early birds who start browsing in the winter so that they can find a new home before school starts in the fall. In fact, many buyers tend to start their searches online right after Christmas, and continue throughout January and February.
Consider the following tips to give your home the best chance to get noticed- and sold in 2011.
Price It Right from the Start
Many sellers have an attachment bias. They believe that their home is worth more than they’d pay for it in another context. While it’s always a bad idea to overprice a home, it’s especially dangerous in times like this because there is so much competing inventory in many local markets.
Be realistic by looking inside comparable homes during open houses. That can help you get a clearer idea of your home’s value. You might even consider interviewing a few real-estate agents to get more than one take on how the home should be priced.
The longer something sits on the market, the more price reductions you might have to make and the more potential buyers will assume that there’s something wrong with the home. Therefore, it’s best not to try testing the waters with a higher price.
Get the House Ready
Most sellers know they need to declutter, paint in neutral colors and generally stage the home as best as they can to help buyers envision themselves in the home. Often, this is done on the advice of a real estate agent or professional stager.
I would also recommend having a home inspection done a month before putting your home on the market to identify any major defects that need to be corrected.
Make It Easy to Show
The more available you can make your home for showings, the better!
If you or someone you know is thinking of selling their home in 2011, feel free to call or email me for a free consultation and price opinion. Make sure to like us on Facebook too. We look forward to connecting with you!
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Tips for Showing and Selling Your Home During the Holidays
December 10th, 2010 categories: Sellers
If your home has been on the market for a long time, you’ve noticed that real estate doesn’t break for the holidays. While the market usually does slow down around the winter holidays, the most motivated buyers and sellers are still doing deals. If your home is currently listed for sale, here are 5 Tips for showing and selling your home during this season:
1. Don’t, if you don’t have to. During the holidays, the pool of qualified and active buyers shrinks- dramatically. The cold, wet weather in some areas makes buyers hesitant to come out and view properties, and holiday travels cause others to put their house hunts on hold. Buyers also know that many sellers take their homes off the market during this period, so the chances for receiving low-ball offers is highly likely. Taking your home off the market during the holidays and re-listing it after New Year’s holds the potential of exposing your home to a fresh set of buyers motivated by a fresh set of resolutions. Plus, many sellers simply don’t want to deal with buyers’ muddy feet and scheduling intrusion while they are at home on vacation or hosting holiday dinners or guests. (Note: Most of these issues are slightly less impactful in warm weather climates.)
On the other hand, there are some advantages to having your home on the market at this time of year, too. Although there will be a larger pool of buyers out and active after the first of the year, the ones who are out in the wet and the cold right now tend to be really motivated to buy. Holiday house hunters usually fall into two groups: they either need a place to live, fast, or they need to close escrow on their new home by year’s end for tax reasons. Given that post-tax credit buyers have been characterized by an almost stunning lack of urgency, keeping your home on the market over the holidays is one way to try to capitalize on the urgency this season’s motivated buyers face, due to their circumstances.
2. Ditch the holiday decor or make it meticulous. No Charlie Brown trees nor chachkies! Staging your home at its festive holiday best can truly backfire if your seasonal staging comes off as cheesy or overdone. If your living room is already small and your marble mantel is the main selling point, crowding the room with a massive tree, piles of gifts, life-sized reindeer and sleigh set and covering the entire mantle with faux snow and stockings will do more harm to a prospective buyer’s first impression than good.
If you DO decide to decorate, rethink it as staging with some holiday cheer; this will help you follow the staging mandates of depersonalizing and de-cluttering your place. If you have a dining room, stage it for a holiday dinner. Many buyers have bought a whole house around their holiday dinner fantasies. Help them visualize their first Hanukkah, Christmas or Kwanzaa hosted at their new home.
But do try and keep your decor somewhat secular and ethnically neutral, if possible. Trees, garlands, lights and bulbs are great- but if I personally were selling my home during the holidays, I would put my religious decorations away. You might not want your cherished family heirlooms exposed to the public anyway. And you definitely don’t want to let your ethnic or religious stuff interfere with the buyer’s ability to envision their own holidays in your home.
3. Set a few, clear “no show” dates and times. There is no faster way to lose a potential buyer than to make it difficult for their broker or agent to schedule a showing for your home. Sellers seem to forget that most often, buyer’s brokers are scheduling multiple properties to be shown in a couple of hours. If the other 3 dozen homes for sale in your neighborhood are vacant or very easy to show, and yours has a bunch of random black out times or dates that the agent can’t figure out without making multiple calls to your agent, who then has to call you and call the other agent back. This is an easy way to steer buyers toward a competing property.
It is understandable that you may need to blackout showings on particular holidays or times when you’re hosting guests. So, rather than going through the drama and frustration of back-and-forth scheduling arrangements around your vacations and obligations, give your listing agent a couple of clear guidelines around holiday season showings. (i.e. No showings on 12/24, 12/25, 12/31 or 1/1) The keyword here is “a couple” -keep these “no show” slots to an absolute minimum. If there are multiple, whole weeks or lots of half-day time slots during which you don’t want your home shown, consider taking it off the market and re-listing it in the New Year, rather than running the risk of getting bumped to the bottom of buyer’s brokers’ “show” lists.
4. Expect some inconvenience and irritation. Selling during the holidays can be rewarding, but smart sellers approach it knowing it won’t always be fun. Go in with realistic expectations. Some buyer is likely to track rain, mud or snow into your house, at some point. If you’re at home relaxing, chances are someone will interrupt your zen for a showing. It’s even possible that some buyer will leave your front door open longer than you’d like. letting your cat or dog out. These things will happen, but the upside is that a super-motivated buyer-to-be may also come see your place! Avoid the emotional roller coaster and irritation by expecting these things to happen.
5. Engage in safe, sensory staging. Holiday food smells like spiced cider, pumpkin pie and baked apple or/cinnamon things are about as universally comforting as smells get. It certainly wouldn’t hurt to do some sensory staging to create a sense of comfort and cheer. Also, remember that dreary winter weather can make even the loveliest house and showing take on a gray cast. Counteract this by making sure your home is well-lit and heated.
If you or someone you know needs an agent to sell your home this holiday season or New Year, feel free to call or email me. for a free consultation. I’m in town and working through the holidays! Don’t forget to like us on Facebook too. We look forward to connecting with you!
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