Aug 4, 2022 | Home Seller Tips
Are you ready to sell your home? Whether you’re just starting to make your plans or you’re ready to list now, you likely want to know how you can get top dollar. It’s going to take more than just throwing up a high price on the listing and waiting for a buyer to show up with a check. With that in mind, here are three secrets to ensuring that when you sell your house or condo, you get the best possible price.
Great Staging Is Critical To Your Success
The first secret is that you’ll really need to consider how you want to stage the outside and inside of your home. Staging your home is your best way to make a positive impression on potential buyers. Think about the difference in perception it makes arriving to view a beautiful, spotless and well-lit home compared with one that looks dirty or messy. Invest the time and money in staging your home and it will increase the value in the buyer’s eyes.
Let A Professional Take Care Of The Heavy Lifting
It probably comes as no surprise that buyers who engage the assistance of a professional real estate agent end up selling for more than those who try to go it alone. A great selling agent will have their eyes and ears tuned to the local real estate market and will have insight into current selling trends. They can also research other recent home sales in your local community and can share which price is likely to attract the most offers. When it comes time to field offers, your agent will be able to help you understand how much you can counter-offer without scaring off the buyer.
Be Willing To Negotiate With The Right Buyer
Finally, to ensure you get the most you can out of your sale you’ll need to remain open to negotiating with potential buyers. You may find that a great buyer needs some extra time to close their financing. Or that they’re willing to bump up their asking price in exchange for you making some easy renovations before turning the keys over to them. The more you’re willing to be flexible with your pricing and terms, the better your chances of securing a buyer that will give you a fair price for your home.
If you’re thinking about selling your home, contact your professional real estate agent. We’re happy to share our insight and experience to help you with the selling process.
Aug 4, 2022 | Home Seller Tips
Are you ready to sell your home? Whether you’re just starting to make your plans or you’re ready to list now, you likely want to know how you can get top dollar. It’s going to take more than just throwing up a high price on the listing and waiting for a buyer to show up with a check. With that in mind, here are three secrets to ensuring that when you sell your house or condo, you get the best possible price.
Great Staging Is Critical To Your Success
The first secret is that you’ll really need to consider how you want to stage the outside and inside of your home. Staging your home is your best way to make a positive impression on potential buyers. Think about the difference in perception it makes arriving to view a beautiful, spotless and well-lit home compared with one that looks dirty or messy. Invest the time and money in staging your home and it will increase the value in the buyer’s eyes.
Let A Professional Take Care Of The Heavy Lifting
It probably comes as no surprise that buyers who engage the assistance of a professional real estate agent end up selling for more than those who try to go it alone. A great selling agent will have their eyes and ears tuned to the local real estate market and will have insight into current selling trends. They can also research other recent home sales in your local community and can share which price is likely to attract the most offers. When it comes time to field offers, your agent will be able to help you understand how much you can counter-offer without scaring off the buyer.
Be Willing To Negotiate With The Right Buyer
Finally, to ensure you get the most you can out of your sale you’ll need to remain open to negotiating with potential buyers. You may find that a great buyer needs some extra time to close their financing. Or that they’re willing to bump up their asking price in exchange for you making some easy renovations before turning the keys over to them. The more you’re willing to be flexible with your pricing and terms, the better your chances of securing a buyer that will give you a fair price for your home.
If you’re thinking about selling your home, contact your professional real estate agent. We’re happy to share our insight and experience to help you with the selling process.
Aug 3, 2022 | Home Seller Tips
When it comes to staging your home to sell, it can sometimes seem like there are so many things to do that it’s hard to know what will make a real difference. Since staging is such an important aspect of successfully selling your home, here are the three golden rules for how you can make it work for you!
Don’t Forego The Front
Homeowners often spend so much time inside of their home that it’s the first thing they think about when it comes to staging, but the first thing a potential buyer is going to notice is the exterior so it’s very important to keep this in mind. Ensure that the grass is cut and any stray plants or weeds are trimmed or pulled. If you’ve left out any old, ugly furniture or the kids toys are strewn about the lawn, you’ll want to clean these up so the house is polished and enticing right from the start.
Make It Match With Your Décor
There are no certainties that the design aesthetic you have is going to appeal to your potential buyers, but they will notice if your home is completely out of touch with its accents. If you’ve got a comfy, family style place, make sure you deck it out in durable but well-maintained duds that will complement the buyer you’re trying to capture. On the other hand, if you’ve got sleek hardwood floors and a stylish accent wall, you should be able to get away with a modern decorative style that can only enhance your home’s natural charms.
Keep A Handle On The Accessories
It’s certainly true that a personal style that gives off the sense that you really live in your home will draw in the offers, but you’ll want to keep some of it at bay so your decorating is not distracting the viewers. Instead of going for big, over-the-top pieces, stick to a style that’s neat and tidy with some quaint accents that will play it up. A few brightly cultured coffee table books or a quirky light fixture can go a long way in adding interest to your living space!
It may seem like a lot is required to properly stage a home, but by using these golden rules you should be well on your way to a successful sale. If you’re currently in the process of selling your home and have questions about entering the real estate market, you may want to contact your local real estate professional for more information.
Aug 2, 2022 | Home Buyer Tips
You may not see the connection right away, but buying a home and planning a wedding are two experiences that require certain skills and challenge you in similar ways. Check out the three key similarities below!
1. Budget
Whether you’re buying your first home or planning a wedding, you are likely facing one of the biggest financial obligations of your life. That’s why, in both cases, it is essential that you pick a realistic budget and stay within it.
Sounds simple, but in either case it can be difficult! Unexpected obstacles may force you to spend more than you planned, or you may find yourself wanting to overspend as you find things that would be “just perfect” additions even though they don’t fit your budget. These temptations can be expected, but it’s important to remember the big picture. When it comes to your budget, pick it and stick it.
2. Details
When it comes to a home purchase or a wedding, there are countless details to consider. It’s not a simple, pre-packaged purchase, there will always be big decisions that you have to make and if you overlook something you may regret it later on.
Some decisions that you face will be similar in both experiences: Does the location work for you? Does it work for your friends and family? What is the parking situation? Is it appropriate for the climate? Will you be satisfied with your decision in the long-term?
Other details will be more unique to the situation: Do you need a cocktail hour? Do you need a walk-in closet? What style of photography would you like? Is there too much traffic noise?
Either way you’ll have lots to think about, and you’ll become acutely aware of ‘the little things.’
3. You’ve Got Style
Both your wedding and your home say something about you, they’re a reflection of your personal style. When being presented with so many choices that are particularly catered towards your personal taste, you’ll learn what you like and what you don’t. However, you’ll also learn what it is that you absolutely need, and what you’re willing to budge on.
Whether you’re choosing a wedding dress that is both gorgeous and functional for your ceremony or deciding whether or not you need an extra bedroom in your home, you’ll learn what it is that you’d want in a perfect world, and what is absolutely necessary for your current situation.
Aug 1, 2022 | Financial Reports
Last week’s economic news included readings on home price growth, new and pending home sales, and inflation. Weekly reports on mortgage rates and jobless claims were also released.
S&P Case-Shiller: Home Price Growth Slows in May
Home prices rose at a slower pace in May according to the S&P Case-Shiller National Home Price Index. Year-over-year home prices rose by 19.70 percent in May as compared to April’s year-over-year reading of 20.60 percent in home price appreciation. Tampa, Florida led S&P Case-Shiller’s 20-City Home Price Index with 36.10 percent year-over-year home price growth. Miami, Florida followed with 34.00 percent home price appreciation. Dallas, Texas reported a 30.80 percent growth rate in home prices.
The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, reported 1.40 percent growth in home prices month-to-month and 18.30 percent growth year-over-year for May. FHFA data covers purchase-only transactions associated with home loans owned or backed by Fannie Mae and Freddie Mac. Analysts said that slower growth in home prices signaled a cooling market after years of rapidly rising home prices.
The Commerce Department reported the lowest number of new home sales since the pandemic. New homes sold at a seasonally-adjusted annual pace of 590,000 sales in June as compared to May’s reading of 642,000 sales. Rising mortgage rates and high home prices eroded affordability for first-time and moderate-income home buyers.
Mortgage Rates and Jobless Claims Fall
Freddie Mac reported lower mortgage rates last week as rates for 30-year fixed-rate mortgages fell by 24 basis points to 5.30 percent; rates for 15-year fixed-rate mortgages averaged 4.58 percent and 17 basis points lower than for the previous week. Rates for 5/1 adjustable rate mortgages averaged 4.29 percent and were two basis points lower on average. Discount points averaged 0.80 percent for fixed-rate mortgages and 0.30 percent for 5/1 adjustable rate mortgages.
Fewer first-time jobless claims were filed last week with 256,000 claims filed as compared to the previous week’s reading of 261,000 initial claims filed. Analysts expected 249,000 first-time jobless claims to be filed last week.
The Federal Reserve moved to slow inflation by raising its target interest rate range from 1.50 percent to 1.75 percent to 2.25 to 2.50 percent. Interest rates are expected to rise for consumer loans, credit cards, and variable-rate education loans. The Commerce Department’s personal consumption price index rose by one percent in June, which was the fastest month-to-month growth rate in 40 years. Analysts expected inflation to increase by 0.90 percent.
What’s Ahead
This week’s scheduled economic reporting includes readings on construction spending and job growth; weekly readings on mortgage rates and jobless claims will also be released.
