Jul 8, 2014 | Home Seller Tips
For most people, their home is their largest asset, so they want to maximize that asset by getting top dollar when they sell. Here are a few reasons you might not get top dollar when you sell – and how to avoid them!
Selling At The Wrong Time
From early spring to late summer is home-buying season for most people, especially those with children. Putting your house on the market during this period is when you are likely to get top dollar for it. Early fall is also a good time to list your home. Winter – especially December – is the worst time to list. If you list your home outside of prime selling season, you are likely to get less for it than you could have otherwise.
Not Staging Your Home Properly
Many people think of staging as simply rearranging the furniture or changing curtains, but there is so much more to it, and not doing it properly can mean less money for your home. To stage your home properly, you must declutter, putting knick-knacks and family pictures away. You also want to make sure your home is as clean as possible and that you correct any defects such as holes in the wall or cracked window panes. Another thing you should do as part of your staging routine is to paint your walls in neutral colors and update cabinet hardware and light fixtures that are out of date. These little changes can make a big difference.
Not Paying Attention To Curb Appeal
You can spend all the time and money necessary to spruce up the inside of your home, but if your lawn is a patch of dirt and your gutters are falling down, all that work and money can go for naught. To get top dollar for your home, you need to improve your curb appeal. This includes seeding or sodding bare spots in your lawn, trimming trees and shrubbery and fixing up home-related items such as broken concrete and sagging gutters.
Not Getting The Price Right
You might think that to get the highest price out of your house, you have to price it high. However, that’s not necessarily always the case. If you price your house too high, it can make other similar houses that are priced lower look like better deals. You should make sure to pay close attention to what comparable homes are selling for in the area and price your home accordingly.
Not Working With A Real Estate Agent
Many people think they can save a bundle selling their home by not working with a real estate agent. While you do save on the real estate commission, you can lose more than that amount by making mistakes in pricing and marketing. A real estate agent will have access to resources you don’t, such as information on buyers looking in your neighborhood. An agent will market your home, make sure it is priced accordingly and set up showings. It is worth your time and money to call an agent experienced in selling homes in your neighborhood who can give you a market evaluation.
Jul 3, 2014 | Home Seller Tips
It’s a buyer’s market, making home selling a challenge that can range from relatively simple to downright frustrating. Boosting ones’ chances of selling their home can be done in a number of ways. One simple way is to utilize the art of Feng Shui – an ancient Chinese practice, used to manipulate the flow of energy in your home.
Feng Shui can be as inexpensive or as costly as you would like. Using what is already on hand is one way to keep it free, but sometimes a simple coating of paint on the front door or a few decorative pieces can make a big difference in the room.
The Entry Way
First impressions are everything, so one of the most important rooms in the home is the one that potential buyers see first. If the entryway is followed by a hallway, making the hallway look as wide as possible is important, as open, spacious rooms have better energy flows. Using a long runner rug is one way to achieve this look, as well as brighter paint colors on the walls.
The Main Living Area
The living area will be one of the main draws to potential buyers. They should be able to envision themselves spending time there, reading a good book or entertaining guests. Upon entering the room, buyers should not be looking at the backside of furniture. The furniture should be outward facing, in an inviting way. A simple table in the middle of the furniture arrangement keeps the flow going, while also allowing for utility and style. A few simple art pieces on the walls or on shelves are a nice addition, as long as the space does not look cluttered or ill-kept.
The Bedrooms
Electronics have a negative effect on energy flows, so keeping electronics out of the bedroom during the staging process is important. The bed should be in full view of the door, but the headboard should not be against the wall that is directly in front of the door. Allow as much natural light into the room as possible.
The Bathroom
In Feng Shui, drains are seen as energetically negative, so toilet seats and shower curtains or doors should remain closed. Again, natural light is important, as well as uncluttered counters. Mirrors should be easily accessible and have a good source of light, preferably natural.
The Kitchen
Many counters and tables are magnets for junk – keeping these spaces clear and free of clutter is essential to a nice energy flow, as well as successful staging. Fresh flowers add a nice touch to the room, and make it seem more open. Yellow is considered good for digestion, so painting the room a nice shade of yellow, or adding touches of yellow here and there can be beneficial.
Home staging is a vital, but sometimes overlooked aspect of house selling. Feng Shui can be a great way to interest more buyers, and sell a home quicker. Energy flow is the basis of Feng Shui, and both natural lighting and arrangement of furniture make a difference in the energy levels of a home. For more information about buying or selling a home, be sure to contact your real estate agent.
Jun 5, 2014 | Home Seller Tips
Selling your home or property in a slow real estate market isn’t easy, but it can be done. Pricing your property right is the key to selling it within a reasonable amount of time.
Sometimes this means lowering your price while it’s on the market. Of course, you want to get as much money as possible, so how do you know when it’s time to lower your asking price?
No One Is Looking At Your Home
If you expect your home to sell, you need to have people look inside it. Most buyers search for homes within a certain price range. If you aren’t getting any showings, chances are it’s because your home is overpriced compared to other homes in the area. In this case, you may need to lower your price so buyers will look at your home.
Comparable Homes Are Selling For Less
Your home will sell for whatever a buyer is willing to pay for it. If the homes around you are selling for less than your asking price, it may be time to lower it. No one is going to pay more for your home when they can get the same thing for less.
Pay attention to what homes are selling for in your community and adjust your price accordingly.
You Are Getting A Lot Of Negative Feedback
Buyers are a great source of information about other homes in your price range. After all, they’re spending their free time looking at countless homes similar to yours.
Your real estate agent can find out exactly what buyers think of your home. Perhaps homes comparable to yours have updated kitchens or more attractive landscaping. With this knowledge, you can choose to either remodel or lower your price.
Call or email me if you have any questions. I can help you sell your home or property in any real estate market.
Feb 13, 2014 | Home Seller Tips
When we are going through a difficult and stressful time, our bodies naturally react to the situation. This “fight or flight” reaction to stress makes us more alert and ready to avoid danger, so it is helpful in the moment.
However, if you are in a constant state of stress on an ongoing basis, this can be very damaging to your health and can increase the risk of diseases such as heart disease, depression and other problems.
Chronic stress can also result in insomnia, headaches, upset stomach, elevated blood pressure, chest pain and much more – as well as emotional issues such as panic attacks, anxiety and worry.
This is why learning to manage your stress is crucial to your health. Many people try to manage their stress by overindulging in unhealthy substances, such as tobacco, drugs and alcohol.
However, by managing stress in this way you are actually making the problem worse because you are contributing to the stress on your body.
So what are some of the healthy ways that you can manage stress?
Express Your Feelings
A lot of stress comes from being angry or upset about a situation, but keeping your thoughts and feelings inside. You can relieve that stress by sharing your feelings and expressing how you feel.
Take Time To Relax
No matter how busy and chaotic things might be, take time for yourself to recharge and relax. Even if it’s only 20-30 minutes per day, having a bath, reading a book or going for a walk – it will really help to keep you calm.
Get Some Exercise
The act of exercising is a great stress reliever because it encourages your brain to produce feel-good chemicals such as endorphins. Also, your body will be better able to fight stress when it is in good shape.
Make Sure You Get Sleep
When there are a lot of demands on you, it can be tempting to want to skip sleep so that you can get more things done. However, when you are sleep deprived you will actually be much less effective and you won’t be able to handle stressful situations as well. Make sure that you go to bed at a reasonable time and get the sleep you need.
Speak To A Friend
Having a close friend who you can discuss your issues with can be a huge help when you are feeling stressed. Even if they can’t solve anything, it is simply helpful to have someone who listens, cares about how you are feeling and offers some encouraging words.
Managing your stress is crucial to your health, so make sure that you keep these tips in mind when things start to get overwhelming.
Jan 29, 2014 | Home Seller Tips
As a society, it seems like we’ve gotten away from appreciating our homes for their emotional and sentimental worth. Instead, we focus solely on their monetary value.
An Appraiser Can Estimate A Home’s Monetary Value, But To Gain A True Concept Of Your Home’s Worth, You Must Also Take Into Consideration:
- Pride Of Ownership. You don’t buy a pair of Prada shoes because you’re going to be able to resell them and make a profit. You buy them because they make you look good and feel good.
- Security And Stability.Your home provides a roof over your head that’s in your control. You can decorate it how you want. You don’t have to worry about a landlord selling the property or asking you to move out. In the “olden days” (or should I say “golden days”), we called our homes our castles because, as owners, we felt like the kings and queens of our homes. You can still feel that way! Claim your castle and crown yourself king or queen today.
- A Safe Haven.After a tough day at work or a day of disappointments, where’s the first place you think of going? Home! As Dorothy says, “There’s no place like home.”
- A Place To Make Memories. Your son’s tree house and daughter’s playhouse. The markings on the wall that tracked your children’s growth. The porch swing where you start and end every anniversary celebration.
- A Neighborhood Full Of Friends. In the event of an emergency, your neighbors are your first line of defense. They’re also the simplest, best and least expensive form of security. Additionally, they may have the exact tool you need for a project; the extra pair of hands you need to complete a project or children to become playmates with yours. Neighbors also give you that much needed in-person, up-close social network.
Even if your home’s economic value has dropped, you continue to benefit from its emotional values of community, stability, security and success.
Thinking of buying a home? I can help you evaluate the emotional and monetary worth of homes and find a home that fits your values and lifestyle. Give your trusted real estate professional a call today.
Jan 20, 2014 | Home Buyer Tips, Home Seller Tips, Interesting Stuff
An LLC is a valid and effective way to hold and manage real estate. An LLC is recognized 
as a separate legal entity for tax and liability purposes.
1. An LLC can provide certain tax and liability advantages. In certain circumstances, holding title to real estate in an LLC can provide a valuable tax advantage. However, if the main intent of forming an LLC to hold real estate is for its tax advantages, you should be sure to speak with a qualified tax advisor. Be certain that you obtain a specific tax identification number from the IRS for the LLC. Applying for an Employer Identification Number or tax id is a rather simple process and can be done online. You will need to provide a tax id number to the closing attorney.
2. There is a cost to create and maintain an LLC. The cost to file for and create an LLC in Massachusetts is around $500.00. This does not include the cost of legal counsel. An annual report will need to be filed with the Mass. Secretary of State each year at a cost of $500.00 per LLC. In most circumstances, if the intent of having an LLC is to avoid legal liability associated with the ownership of real estate, you should probably have two LLCs. One LLC to hold title and one to manage the property. Be certain that the application to create an LLC and operating agreement are prepared properly. Mistakes made in filing for an LLC can be costly and time consuming to correct. Don’t file for an LLC in any other state or jurisdiction unless you have a really good reason for doing so. Cost should not be the sole reason. Consult qualified legal counsel to assist you.
3. An LLC is not right for every situation. Although an LLC can hold title to real estate, it does not mean that it is the best way to do so. You should carefully consider the pros and cons of using a realty or nominee trust, a standard corporation, or individual ownership for each piece of real estate. We often find that sellers spend needless time and money to hold title in an LLC when it really was not necessary or proper for their situation. It may be considered “fashionable” to have an LLC, but it is not always prudent.
4. An LLC is not like a regular corporation. One of the primary differences between an LLC and standard corporation, or S Corp, is the way gains and losses are accounted for between members and shareholders. With an LLC, gains and losses can be allocated disproportionately between members, not so with an S Corp where it is shared between pro-rata shares of ownership. With LLCs, members are able to pass losses to their personal income reporting. This can’t be done with a regular corporation.
5. An LLC must be in good standing with the state in order to sell its real estate. If your LLC holds title to Massachusetts real estate you will need to prove that the LLC is in good standing with the State before you can actually close on the sale. The most acceptable way to show good standing is to obtain a certificate from the Secretary of State’s office. The Secretary will not issue a certificate if the LLC is not current with its annual report filings. The cost of a Certificate of Good Standing is about $25.00. Obtain it well in advance of an anticipated sale, the closing attorney will likely require it prior to closing.
