Buyers & Sellers - Your Questions Answered

There are two questions which can quickly produce a feeling of overwhelming burden. Buyers are wondering if it’s a good time to buy while Sellers are wondering if it’s a good time to sell. There is currently an unbelievable amount of homes for sale with a shortage of Buyers in turn producing lower prices making it an amazing time to buy!  Rich Levin shares some excellent points to consider.

Buyers:

• Down payment requirements as well as interest rates are indeed still incredulously low.
• Business insecurities are making people unsure of their buying decisions, causing them to choose to not purchase.  
• This is an incredible time to buy a home you may have never thought you could afford!
• Speak with a lender or ask your Real Estate Agent about mortgage qualifications. If you are able, buy now!
• No regrets! Eventually, inflation will cause interest rates and home prices to rise. You don’t want to look back wishing you would have bought when prices were low! 

Sellers:

• While it seems to be a bad time to sell due to prices being low, if you are a seller looking to by now is a fabulous time to make that move. You may sell your current home for a lower price but you will make up the difference in your next home purchase.
• With all this said, if you can wait to sell, wait. It could mean waiting a year or two but the rise in prices will occur quickly when the market picks back up!

Healthy Real Estate Areas:

• It is fairly easy to determine a “healthy” town from an “unhealthy” town. Are there a lot of homes on the market? Are they selling quickly or just sitting there?
• Drive around neighborhoods of interest looking for “for sale” signs and use your resources. Search online or call the Real Estate Agent to see if the home is still for sale.
• Look at the job market. In most areas with job stability, most people aren’t selling and there may even be more qualified Buyers than there are homes for sale.

·       Ask your Agent to do research for you and provide a list of homes for sale, under contract and sold. Once the list has been provided, compare the homes for sale versus the homes sold. This too will help you to determine what kind of market your are surrounded by.

For more on this topic go to BrokerAgentSocial.com

 to view the full article by: Rich Levin, rich@richlevin.com

What Sells a Home?

Sellers often ask what the secret to selling their home quickly is in today’s market, as well as how to hold their built equity. While there is no sure answer to either there are certainly factors that can affect all aspects of your home selling. 

Consider the following ten objectives and how you can help apply the information to help the sale of your home:

Listing Price

The pricing of your home is the leading factor in if a home will sell. Although you may have a home located in a very prestigious and desired area , you may have listed your home with a selling price tens of thousands of dollars above the comps in your area. If this is the case, no one will show interest in your home, while the home priced below the comp price, will sell immediately.

Location

Location is important.  If your home sits next to train tracks, has a record for crime or is off a busy street it appears less desirable compared to a home in a quiet neighborhood.

Amenities/Perks 

Buyers in today’s market are looking for “stuff” to do. Any neighborhood offering amenities/perks such as a golf course, restaurants, theaters, safe neighborhood, good schools and an array of activities will all help to sell your home.

Condition

Well maintained, move in ready homes are what buyers are looking for in today’s market. There was a time when fixer –uppers were desired by flippers or investor’s looking to turn a profit.  Now they can’t seem to sell the house quick enough which has them practically giving their profit away.  Simple cosmetic fixes such as cleaning the carpets and  painting have a positive effect.                   

Know your strengths and weakness’

It helps to know the pros and cons to your home when deciding upon your listing price.  Current listings, past homes sold in your area as well as foreclosures will be looked at by buyers.  Think of the updates you’ve made compared to others; kitchens, bathrooms, landscaping. If you are going to price with the competition make sure you have the same things to offer, if not more!

Curb Appeal

You only have the opportunity to make the first impression of your home once.  Be sure to keep your yard and the outside well maintained while your home is listed

Decoration/Staging

When a buyer walks into your home you want them to be taken back by the décor, pleased with the cleanliness of your home,  see up-to-date repairs, hear silence and feel the warmth of being completely at home.

Kitchen

When you have family get together, think of where everyone ends up at one point of another, the kitchen!  A kitchen can be the ultimate selling point.  The kitchen is found to be one of the highest remodeling projects on the top of everyone’s list. Updating counters, floors and cabinets can really help to reel in a buyer. If you already have a fabulous kitchen, be sure to spotlight it!

Agents

In this market, you need a close ally. That ally needs to be an accomplished agent with loads of knowledge of today’s market! They know the ins and outs of the business, market trends and also have contacts in their network of agents to help market your home.

Marketing

The internet has become the biggest marketing tool available to help sell your home! From the MLS, video tours, webcasts and various websites. Your agent should sit down with you to go over a detailed marketing plan. You are paying them a commission, make them work for it! 

For more info, CLICK HERE to check out the full article on Realtytimes.com