If you’re gearing up to sell your home, you’ve probably read tons of articles all about what you should be doing…but what about what you shouldn’t be doing? After all, selling your home is a huge financial decision, and a misstep could mean losing out on your hard-earned profit.
Don’t let something as easy to fix as not staging or pricing incorrectly throw off the success of your sale! Here are the top five mistakes to avoid when selling your home.
Setting an Unrealistic Price
It might come as a surprise, but pricing a home is tricky. Not only do you have to take into account what homes around yours have recently sold for (or, in other words, what buyers are willing to pay), but you also need to know how to value any updates and improvements you’ve made. Plus, you want your home to be priced so that it pops up in as many online searches as possible. When it comes to finding that magic number, sellers’ emotions often cloud the ability to accurately price a home. Continue reading →
Black Friday and Cyber Monday are behind us, yet finding the perfect holiday gifts for friends and family is certainly still top of mind for many right now. This year, there’s another type of buyer that’s very active this holiday season – the home buyer.
Each month, ShowingTime releases their Showing Index which tracks the average number of appointments received on active U.S. house listings. The most recent index notes:
“The Showing Index reported a 60.9 percent jump in nationwide showing traffic year over year in October, the sixth consecutive month to see an increase over last year.”
Here’s the breakdown of the latest activity by region of the country compared to this time last year:
The Northeast increased by 65.5%
The West increased by 64.7%
The Midwest increased by 55.7%
The South increased by 54.7%
Why is the traffic so active?
The health crisis definitely put home buying plans on pause for many earlier this year. Buyers, however, are in the market and making moves well past the typical busy home buying seasons of spring and summer.
One of the main reasons buyer traffic has continued to soar in the second half of 2020 is how dramatically mortgage rates have fallen. According to Freddie Mac, the average mortgage rate last December was 3.72%. Today, the rate is a full percentage point lower.
There are first-time, move-up, and move-down buyers actively looking for the home of their dreams this winter. If you’re thinking of selling your house in 2021, you don’t need to wait until the spring to do it. Your potential buyer is very likely searching for a home in your neighborhood right now. Give us a call today at 734-761-3060 to talk about your home buying or selling options!
It’s a common real estate predicament: selling the home you currently live in while trying to buy a new one. So… what’s the most efficient way to go about it?
All in all, it depends on your situation. Are you willing to buy a second home without having sold your first one? Or are you relying on the payoff from your current home for the down payment on your new one? Are you relocating? Upgrading? Downsizing? Your reasons for selling will most likely dictate how you’ll go about the process.
So, here are four things to keep in mind when you’re buying and selling a home at the same time.
It’s All About Timing
What works best for you? If you’re selling your home because you’re relocating to a new area, it might make more sense to sell your current home first before buying a new home in a new market.
However, if you have enough money saved up for a down payment, it may be easier to buy your new home first, then sell your old home once you’ve moved to the new one. Continue reading →
This year has been difficult for just about everyone, but if you were (or still are) thinking about buying a home in 2020, you might be feeling more than a little overwhelmed. An ongoing pandemic, the subsequent recession, and general uncertainty have forced many house-hunters to put their real estate dreams on hold. However, despite all these potential obstacles, homeownership is still a very attainable goal.
Don’t Let These Myths Keep You From Buying a Home!
Buying a home is a huge decision, and it’s one you shouldn’t make without careful planning. Unfortunately, there’s a lot of misinformation out there regarding the home-buying process and the real estate market as a whole, especially as the nation continues to navigate an unpredictable year.
Still unsure about making a move during 2020? Here are four of the most common myths that deter today’s buyers—and why you shouldn’t believe them. Continue reading →
If you step outside on a cool October afternoon, you might just smell some pumpkin spice and freshly picked apples wafting through the air. That can only mean one thing: Halloween is just around the corner! And while this ghoulish holiday delights both kids and kids-at-heart, it also creates interesting staging opportunities for home sellers.
As tempting as it might be to pull out your most spine-chilling decorations, buyers probably don’t want to walk through a haunted house to tour your space. If you want to avoid a home staging horror story, we have a few tips to help you incorporate a little spooky flair without going overboard.
Here’s How to Add a Tasteful Touch of Halloween to Your Home Staging
While it’s totally acceptable to add a dash of Halloween-inspired decor to your home, your goal should be to stage for the season, not the holiday. That means using more fall-focused decor instead of going all-out with spider webs, skeletons, and other eerie touches. Continue reading →
To say that 2020 has been a bit of a whirlwind would be an understatement. And as we get closer to the end of the year, many buyers and sellers are wondering if it makes financial sense to enter the market. Although the warmer months are typically considered the best time to move, buyer demand continues to surge into fall, while the available supply of homes just keeps dwindling. This has caused home prices to skyrocket to one of their highest points ever.
Need some advice before breaking into today’s competitive housing market? We have a few details to consider before making any big decisions.
Buying or Selling Soon? Here’s How Rising Home Prices Will Affect Your Move
Real estate has always been about supply and demand. For example, during the housing market crash of 2008, home prices plummeted partially because of low buyer interest. Today, though, we’re seeing the opposite—prices are increasing due to waning supply and rock-bottom mortgage interest rates.
If you’re thinking about listing your home, you’ve probably heard that we’re in a seller’s market right now. As inventory dwindles and buyer interest intensifies, it’s not uncommon to see properties sell just hours after they’re listed, sometimes even tens of thousands above their original asking price.
This may seem like an ideal scenario, but navigating a multi-offer situation can be difficult for even the most seasoned sellers. And sometimes, selecting the right offer doesn’t always mean going with the highest bidder.
Your Guide to Choosing the Right Offer
As a seller, you’ll quickly find that not all offers are created equal. In addition to price, there are a few other factors you should consider, such as contingencies, financing, closing dates, and plenty of other extras that buyers can attach to an offer.
Feeling a little overwhelmed? This advice can help you streamline, and get the most out of, your home sale. Continue reading →
As a seller, you have to be able to get your home looking fantastic at the drop of a dime if an interested buyer schedules a tour. And unless you have the time to constantly clean, keeping your space prepped for showings might seem like an endless (and stressful!) ordeal. Luckily, we have a few tips that can help you avoid any pre-showing panicking.
The Easiest Ways to Stay Ready for Showings
The biggest secret to keeping your home ready for buyers is to do most of the work ahead of time. It might be tempting to put off cleaning or wait until the last minute to add your finishing touches, but all that procrastinating can easily backfire right before a showing! Here are some easy ways to keep your home looking spotless at all times…without any added headaches.
Declutter and reorganize
Before you even think about listing, take some time to declutter and reorganize your belongings. This can help decrease the amount of stuff you have to put away before a showing, as well as reduce how much you’ll pack when you inevitably move. Remember, you want buyers to focus on the best parts of your home, not your clutter.
Not sure where to start? Try sorting your possessions in “keep,” “donate,” and “throw away” piles so you can narrow down what you really need. And if you have items that don’t get used every day that you’d like to keep, you can always rent a storage unit until you move into your new place.
Do an initial deep clean
After you’ve thoroughly decluttered, you’ll want to do a thorough cleaning of every single room in your home, including your closets. It might seem like a lot of work at first, but it’ll be worth it when you don’t have to completely scrub down your house each time a buyer comes knocking on your door. Don’t shy away from getting into every nook and cranny—you want everything to look perfect!
Many professionals recommend using the top-to-bottom and left-to-right rule. That means starting by cleaning things up high, such as ceiling fans and bookshelves, and ending with your floors and carpets. Going from left to right can also keep you on task and make the entire process go by much faster.
Have a routine for tidying up
Let’s be honest—if you have kids, pets, or actually live in your home, it’s not easy to keep it looking like a showroom at all times. Establishing a regular tidying routine can help you maintain that initial deep clean you did before listing. Assigning tasks—like making beds or vacuuming the floors—to everyone in your household also allows you to divide and conquer!
To minimize the amount of cleaning you have to do, consider keeping some rooms that you don’t use off limits. You can even designate a certain area, such as an ottoman or a storage bin under a bed, for everyday clutter that needs to be hidden right before a showing.
Create an escape plan
Keeping your home ready for showings is only half of the battle—you also need to know where you and your household will be going before the buyers show up! Not every tour is conveniently timed, so you’ll want to have a few options in place for different times and days of the week. If you have kids or pets, don’t forget to make arrangements to accommodate their needs, too.
Don’t know where to go? Try using your time to run errands or plan some fun (and practical) outings with your kids, like an outdoor study session or afternoon at the pool. Your furry friend can also be included in the fun—just head to a pet-friendly park for a little sunshine and fresh air!
We’ve all been there. One day, you look around your house, and there’s just So. Much. Stuff. Stuff in boxes, stuff on the walls, stuff in the corners—just…stuff. If you’re gearing up to sell your home, you’re going to have to deal with all that accumulated clutter eventually. Luckily, there are plenty of simple strategies for getting the job done!
Arm yourself for the Crusade Against the Clutter, and use these top tips to transform your home before selling.
If you aren’t prepared, things can quickly get overwhelming. After all, you’re not only getting your home ready to sell, but you’re also packing things up, finding a new home, and dealing with your finances. It makes sense that decluttering your home isn’t first on your list, but it’s one of the most important steps! Continue reading →
If you’re getting ready to sell your home, you don’t have to spend a lot of money to impress buyers. In fact, making just a few small changes can have a lasting impact and help you secure a sale. Here are four easy, low-budget projects you can do on your own—and buyers will love the results!
Updating Hardware and Fixtures
Does your kitchen feel a little drab? Is your bathroom still stuck in the 1990s? You probably don’t have to undertake an entire renovation to bring your space into the new decade—adding some updated hardware and fixtures just might do the trick! Today’s buyers are looking for modern yet timeless finishes, so oil-rubbed bronze, brushed nickel, or matte black are all great choices. Continue reading →
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