Real Estate Recovery, For Real?

The most affordable rates in over 40 years!

The low interest rates are the main contributor to real estate sales moving up again.  One problem, we are at the lowest level as far as the number of houses listed for sale on the market.  Demand and Supply…it always comes back to this.

 

It’s been a rough road.  Many people faced with foreclosures, short sales or simply too afraid to make a move.  But this is all changing… for the good.  Most economists feel that 2013 & 2014 will be the transition years.  The market is improving and getting ready for its comeback. So, if you have been sitting in the backseat for the last few years, it’s time to move forward.

Buyers:  Although inventory is tight, properties are coming on the market every day. It’s slow BUT steady.  Bidding wars may be back so be the first to snag your dream home.  Don’t waste time with a low ball offer.  The days of scooping up houses 25% less than the listing price are over.  The market is coming back solid so just be ready …. Get your paperwork in order..get your pre approvals and let those sellers know you mean business.  Be sure to check out different lenders.  Some lenders are willing to cut their profit margin to get your account. Remember, the sluggish real estate market has affected mortgage sales in banks too. No one wants to waste time…be ready.

Sellers:  Check out the local market.  Have your agent do a comparative market analysis (CMA) and access properties in your area.  Be careful not to list the price of your property to high, this will waste time and slow down deals. Be smart and catch the buyers attention by pricing right! Having a house sitting on the market too long can make the house look unappealing. The reality is, no bank will give a loan to a buyer that is not worth the selling price of that property.  Listen to your real estate agent and avoid delays.  Have the agent accompany the bank in the process.  The real estate market is back…and here to stay.  If you’ve been waiting, your wait is over! This real estate recovery IS FOR REAL!

 

Stage your Home

Staging is one of the most IMPORTANT things to consider when putting your home on the market.  With the winter here, it's hard to keep the outside looking neat and clean.  It just doesn't have that bright, fresh appearance for potential buyers.  Unfortunately, there is not much you can do with the outside except keep it as clear as possible when we do get snow or ice.  If a buyer is coming to your home and they do not have a clear way to your door, it's possible that they will not go inside.  ALWAYS keep your walkways clear and accessible.  The outside is their first impression.

Staging your interior can be fun.  The less the better.  Most realtor's will tell you to put away some items or move some furniture. It can make the rooms appear bigger and brighter. You want to make your house feel cozy, having the potential buyer feeling comfortable and seeing themselves in your home. Personal effects should be limited, you want them to see themselves living there...NOT YOU!  Kitchen counter tops should be clear and free of papers and clutter. Try your best to declutter! Bedrooms should be made up and neat. If you have any questions, your realtor will be able to guide you in the right direction.  They have the expertise and have been in many houses. First impressions are lasting...especially in real estate. Fresh flowers are always a nice touch.   

Real Estate Winter Blues

So, the Winter is coming.  The holidays are right around the corner.  You are thinking that it might be better to wait to the Spring to put your house on the market. Should you wait? Here are some reasons why it would be beneficial for you to put in on the market now. 

About 90% of home buyers start their searches online! With the new marketing techniques that realtors are using, your house is seen by thousands of potential buyers….in the comfortable of their own home!  And some realtors, like Guardian Realty Center, offer Full Motion Videos including audio narration!  There are only a small percentage of realtors that offer this! Video Tours provide buyers with an Open House 24/7. This is a GREAT marketing technique to be offered in the cold Winter months. Yes, maybe your home would look prettier in the Spring, but that’s just the outside.  If you are prepared to market and showcase your home, you will sell no matter what month of the year it is.

 

We all know that Winter sales are usually down in real estate and there are fewer homes on the market BUT that also means there is less competition out there. In the Spring, which is the prime season to market your home, there are many more houses for buyers to choose from.  If you need to sell or want to sell, then why wait!  There are lots of great marketing strategies to sell your home in the winter ....as well as any other time of the year.

Decluttering--Decisions, Decisions, Decisions!

So Many Decisions! Fall Cleanup!

Fall is here and it is a perfect time to cleanup and clean out your home. If you are planning on putting up your house for sale, it might be a good thing to start soon. It takes time and you probably don't realize how much you need to clean out.  It might be best to do this over a course of a few days. And make sure you do one room at a time! I always start with three different piles in mind. 1. Put away, 2. Sell or Donate and 3. Storage.
If you have "Never" used it...out it goes.  Either a yard sale, trash or donate.  Don't second guess yourself. There is no room for second chances. Out it goes! If you have to think of the last time you used it, it's been too long! 
If you have used it "within the last year or so"....out it goes except if it something seasonal or a treasured item of a memory.  You'll have to make that determination when you are deciding about the item.  I always feel that if you put away something you haven't seen in a year, you probably won't see it for another year and forget that it was even there!
If you have used it "with the last month or so", than that might be an item that you want to keep.You still do have to find a home for this. Sometimes it belongs in a different room.  Put that in a sorting pile for later.
And lastly, if you use it all the time, well... it just stays where it is.

If you are planning on moving, you may want to take a little extra time to really rethink if you want to bring this item to your new home. New home, New Start. If you take some time to cleanup and clean out....it may make the moving process less agonizing.

Be careful when making improvements to your home. It is better not to over improve.

During a listing appointment, I generally ask for a list of improvements that were made since the home was originally purchased. It is an important factor when determining an estimate of value.  At times, Sellers will let me know exactly how much they paid for certain improvements. Some Sellers expect the total investment on that improvement to be added to the home's market value.  Unfortunately, what a person pays for an improvement may not add the exact same amount on to the value of the home. There is a saying in the appraisal industry that applies here:

          “Cost does not always equal market value”

Go easy on what you spend for an improvement. Try to keep the costs reasonable because your investment may not give you the return you expected when selling.

Emotions Involved in Selling Your Home

Beginning the process of selling your home can bring on a wave of emotions. Standing on your front lawn and watching your Realtor put the For Sale Sign in the front yard can fill you with a feeling of sadness and anxiety. All of a sudden it becomes real. Most likely you are leaving a place where memories were made and most of them were sweet. Finding the right Realtor to stand by you and take the stress out of the process can make the world of difference. It makes a real difference to have the right Realtor that knows it is not just an asset that is being sold but the closing of a door on a chapter of your life. Realtors help you overcome those hurdles and getting you to the point of opening that new door to a new beginning.