Archive for Sellers

January, Shmanuary, Look Ahead When it Comes to Real Estate

The latest real estate headlines for the US are that home sales were down in January, some of these headlines even use the word “plunged”. However, there are a few areas scattered around that managed to buck this trend and no media frenzy can change that. Think about it, is it really a surprise that sales are down in January? January is the coldest month, even if you live in a southern state like Florida, who wants to move in to a new house in January.

Does anyone really feel like shopping in January when they have just completed a major holiday season that began with Thanksgiving at the end of November? Most people are just plain worn out by the time New Year’s Day is over, the last thing they feel like doing in packing up and moving. It is a month to relax and observe.

The original First Time Home Buyer Tax Credit was meant to expire in November and when it got extended and expanded people realized that they had more time to make a decision. January data is showing a dip because people wanted to stop and take a look at what the new year would bring. Now that 2010 is here and people can see that mortgage rates and property values are staying low, housing is bound to show a steady increase in sales and eventually prices as well. Even Warren Buffet appears optimistic, stating that he believes that housing problems will soon be behind us.

Click here to view Warren Buffet’s stance on the economy and real estate as a whole.

Clean Homes Show Better!

Clean Homes Show Better–Five Areas To Scrub to Make Yours Sparkle

by Phoebe Chongchua

So, here’s a question for you.  Would you rather walk into a clean home or a dirty one?  No, it’s not a trick question but it is an important one.  You see, when it comes to selling a home, many people forget how important the answer to that question really is.  Sellers get busy looking for their new home, preparing the kids for a move, packing up their belongings, getting organized for their new life and relocation so much that sometimes their home that’s for sale doesn’t get the TLC that’s needed to push it to the top of the buyers’ must-have list.

It’s not until the home sits on the market for long periods that sellers realize something has to change.  Read more…..

Selling Your Home? Choose the Right Realtor

Take time to choose the right broker when selling your home

When preparing to sell your home it is important to find a real estate professional that will best suit your needs.  A warm handshake and a friendly smile is all well and good but if you want to sell your home pick a broker that is experienced and knowledgeable, someone that will do the best job for you.  When selecting your real estate agent here are a few things to keep in mind:

Data.  Get a prospective Realtor to bring in a copy of what they have listed and closed.  They can present you with an MLS report that displays their inventory.

References.  Get references from a potential Realtor and call them.  Find out what other people’s experience with a particular Realtor has been.

Price.  Get an evaluation of your property.  A solid real estate professional will be able to detail what has been selling and for what price.  He will be able to evaluate your home and your location, giving you a value for your home that will help sell it not deter people from looking at it.

Plan.  What does your Realtor plan to do for you in terms of marketing, sales, listing, etc.  Make sure he has a plan for your house and find out what he is willing to do to get it sold for you.

Real estate is often a person’s most valuable asset.  Do your legwork and choose the best broker for your home.  He or she should be a salesperson.  If they can sell themselves to you perhaps they are halfway to selling your home for you as well.

Remodeling? Exterior Improvements Give More Bang for the Buck

Workman

Exterior improvements give more of a return when remodeling

There is an annual report that examines the cost versus value for home remodeling.  The report is helpful for those who are considering making improvements to their homes, especially if their home is one that they consider selling in the near future.  Historically, bedrooms and bathrooms are where people consider spending their money but the return on the remodel investment is not necessarily there.

According to the 2009 Remodeling Cost vs. Value Report the best return for your money are exterior improvements that often are lower cost projects to begin with.  Adding decks, replacing siding, new doors and windows are among projects that recoup the most money when re-selling a home.  The return on these projects is typically 80% or more.

The annual report shows how important first impressions are.  If you are considering selling your home make sure that the exterior is as eye catching as it can be.

Click here to learn more about remodeling costs versus value at The National Association of Realtors’ website.

Two-Year House Price Depreciation Ends

U.S. house prices edged up 0.2 percent between the second and third quarter, ending a two-year skid, according to the latest quarterly housing valuation analysis by IHS Global Insight. California led the nation with a 2.1 percent home price increase during the quarter. Of the 330 metro areas analyzed in the House Prices in America study, 169 showed price increases during the quarter while 161 posted declines. By comparison, 317 metro areas had price declines in the fourth quarter of 2008.

In annual terms, house prices nationwide edged up slightly by 0.9 percent during the third quarter. This marks the first increase since the second quarter of 2007 when the housing market began to decline. From their peak in 2007, U.S. housing prices have fallen an average of 10.7 percent.

The study also finds that the nation as a whole is slightly undervalued. None of the markets included in the study were found to be extremely overvalued in the third quarter, compared to 2005 when 52 markets fit that description. However, most of the markets that are somewhat overvalued are located in the Pacific Northwest. MON, DEC 28, 2009

Home Inspection Before You Sell

.lens.

Consider doing a home inspection before selling your home

If you are considering selling your home in the current real estate market it would be prudent to have a home inspection completed before putting your home on the market.  It is rare that a buyer will not have a home inspection done before closing and being aware of any problems and taking care of them prior to selling can alleviate the pain that surprise issues can bring.

It is a competitive real estate market out there.  A seller’s best chance of snagging a buyer comes with having his real estate in top notch condition.  More that looking good a home needs to function well and it is important to examine the bones.  A home inspection will inform the buyer of faulty plumbing, wiring, heating and cooling issues, the need for roof replacement, painting, etc.

If problems with a property are faced and dealt with before selling, there should be no surprises when going through the contractual steps before closing.

For more information on home inspection and locating a home inspector visit the website for the American Society of Home Inspectors by clicking here.