Maintain the equity in your home
It happens often, people don’t give enough thought to maintaining and increasing the equity in their homes, until they call us to help them sell it!
From the moment home ownership is taken, the impact of improvements and revisions should always be in the forefront of the decision making process, with attention given to increasing and maintaining home equity.
We advise our clients, even if they don’t think they will ever sell, they should still be mindful of, and prepared for that possibility. A tempting, unexpected opportunity may come along, or life circumstances may change, and suddenly a decision is made to sell. It is at this pivotal point that the homeowner would understandably like to get as much return as possible on their valuable asset.
Below are just a few things to consider with regard to maintaining home equity: (more…)
In an effort to make a home look it’s best in preparation for a home sale, at this time of year many sellers will reach for the seasonal and holiday decorations. That may be fine, if not overdone for showings, but it is important to keep them out of the photos . (more…)
This is a question we are asked frequently. We have addressed the question in a post before and decided to bring it back with a new post, since it is continuously a popular subject. Remodeling magazine has updated their data for 2016 with the Remodeling 2016 Cost vs. Value Report. They explain what their numbers mean and the method they used to obtain them. It is a great tool to play around with.
Many factors can greatly effect the cost of a renovation or building project. We continue to use the Houzz.com calculator to get an idea of what people are spending in different locations for different projects. Check it out. (more…)
As a future home seller, you may not have considered the appraisal a bank will have, if the potential buyer for your home, is financing their purchase with a mortgage.
The buyer will notify their bank once they have an agreement on your home. The bank will arrange for an appraiser to come out to your home to determine the value. Even if your buyer is qualified in every other way, if the appraisal comes in too low, their mortgage will get denied and there is a high probability that they will withdraw from the sale. The only other options the buyer may have is to either come up with more money to put down or to ask you to lower your price.
Pricing is a crucial part of presenting your home to the market. It doesn’t matter what your home goes under agreement for, if it never goes to the closing table, and the sale doesn’t take place. The initial marketing is important to achieve the optimal outcome and the success of your sales transaction. If your home comes back on the market you run the risk of selling for less than you could have received if you listed it at a proper price from the beginning. A future buyer may offer you less than they would have, if they were making the offer when it first came on the market.
Appraisals can vary to some degree but the appraisers do have to be able to support their price. If it is an appraisal for an FHA mortgage there is the possibility that it will stay in their records for a period of time. This may limit the buyer pool.
If you have a home that is likely to be purchased with financing then the buyer’s appraisal should be considered when you determine the listing price. You can ask whatever price you want for you home, but it doesn’t mean you will be able to sell it for that price. Over pricing can sometimes bring less than the house is actually worth. Strategic pricing plays a large part in the final outcome of a home sale.
Are you confused by the differences between an Appraisal, Assessment and a Market Analysis?
There are many details to consider when selling real estate. We can assist you early in the process. John & Cindy Farrell 978-468-9576.
Download our free copy of “Preparing Your Home To Sell”
If you are preparing to put your home on the market in the winter exterior presentation is still important. It does not have to be spring or summer to command great curb appeal. First impressions matter year round. Every season is beautiful and the lighting changes throughout the year. Make your home stand out. Here are 9 ideas for staging the exterior of your home in the winter.
- Front door color – Paint while you can. Making sure to think how it will look with no greenery and possibly snow.
- Interior lighting – Keep all your lights on and remember it gets dark early so get them on early. Use timers if needed.
- Exterior lighting – Consider adding additional lighting if you don’t have enough. Highlight the house and interesting landscape details.
- Feature the Architectural details of your home.
- Clean pathways, porches and patios. Make sure all the leaves are removed. Remove all fall decorations.
- If there is snow, keep it as clean as possible from pets and don’t walk through it if possible. Keep it neat.
- Think about adding colorful weather resistant pots on the porch.
- If the outdoor seating does not look inviting in this season, remove and store it.
- The light in the winter can be quite beautiful. Allow for the photos to be taken at these ideal times.
It’s important to look at your home with an eye towards the season that you are selling in and make it the best it can be. During the winter it is more important than ever to keep your presentation updated. Many competing homes on the market will throw in the towel and think they can’t make their home look good. That is an advantage, this is your chance to shine!
Contact John & Cindy Farrell early in your home sale process. 978-468-9576
Pets often behave differently than expected when confronted with an altered routine. A dog that is usually quiet and calm may become extremely upset when their home is being accessed by strangers and their family isn’t there. Fear and uncertainty can trigger non-stop barking or uncharacteristically aggressive behavior. Not only is this uncomfortable for your dog, but to potential buyers as well, who may turn their attention from viewing your home and instead try to comfort your dog!
An indoor cat that never tries to escape to the great outdoors can also become scared under the duress of a house full of strangers without their family present. They may hide or wreak havoc, doing all they can to remove themselves from a stressful situation.
We have successfully shown and sold many homes while pets were present and many where the home owners opted to take the dog for a walk, ride or have a trusted caregiver take them before a showing. If feasible, arrange care for your pets in a stable environment outside the home during showings and open houses.
Pet smells are often unnoticed by the people that live with them, because they get used to it. On more than one occasion we have experienced a crated dog that has pooped in it’s crate because they were scared and the showing was compromised. Oftentimes buyers choose not to visit a house that has pets for fear of the condition and odor.
Ultimately, the house should look and smell like there are no pets. All food dishes should be cleaned and put away.The litter box should be removed. Place toys, extra food and litter bags out of sight.
We filed this under frequently asked questions but the reality is, many sellers don’t ask this question and we think they should! There is no definite yes or no answer for this, and there are variations in how to move forward with either way you choose to proceed. It is not a consideration to take lightly. There are many things to consider and there are more options and ideas that could benefit both you and your tenants. It is best to give as much time as possible before putting your property on the market to make sure it is being presented the best way right from the start. Your decision can easily effect the selling experience and the value. (more…)
The garage may not be the focal point of your home but it is a substantial asset. Some people won’t even look at a house if it doesn’t have a garage. As you are prioritizing, getting ready, staging, and preparing for photos, consider taking the garage to the next level.
Imagine the potential buyer opening the door to your garage and seeing the unexpected. An exceptional, smart use of space rather than the more common, unremarkable, disorganized space that’s been given little thought or attention. The garage is often used as an overflow landing zone, especially when staging the house. Whether it is a small space for one car and minimal storage, or an amazing workshop, make your garage the best it can be. The garage is an important space that often times is not presented at its best. (more…)
Putting your home on the market? Chances are your home’s buyer will have a home inspection and if issues are identified during the inspection the buyers will want to renegotiate the price or have you complete repairs. This is something you will not want to contend with just before the closing. There is so much to be done in preparation for a move and you will want to be focusing on moving to your new home and all the necessary tasks involved with it. In an effort to ensure the best deal and smooth transaction for your home, prepare for the buyers home inspection prior to putting your home on the market. (more…)
Your Home has an Accepted Offer! Now what?
Once you have an accepted offer you move to the final phase of the selling process. Our clients find it helpful to have a checklist to help make sure things are done in a timely manner and they don’t have to wonder if they have missed anything. All real estate transactions are unique. Although there is a common list of things that need to be done. Leave some space to add items that are particular to your sale. (more…)