Our Blogs
Selling?...Get Real
"We thought about putting our home on the market, but nothing's selling right now".
Contrary to popular belief the real estate market is not DEAD. In fact, there are portions of the market that are actually thriving right now. Things such as the recent tax incentives to first time homebuyers and "value" home pricing by new home builders have actually made it quite an attractive time to buy and sell real estate.
The real estate market is not dead, but the days of selling your home with little to no effort are not only dead, but they are dead and gone. Those days hit the road a few years ago and nobody knows when or if they're coming back.
This does not mean that you have no chance of selling your home. This just means that you have to be smart and you have to be REAL.
Get real IMPERSONAL - Most everyone has some sort of photos in their home. Maybe it's the kids school pictures that line the stairwell, or the photo that you keep by your bed of you and your boyfriend at the beach. We display photos in our home because they elicit fond memories and they make us feel good. Personal photos make the house we come home to, feel like "our home". Our photos make us happy.
Unfortunately, the same photos that make us feel so warm and fuzzy inside do not necessarily make a potential buyer feel the same way. The person touring your home may think your kids are extremely cute and also think that you look fantastic in a bathing suit, but this is not helping them visualize THEMSELVES in your home.
In fact, too many personal touches by the seller may actually DETER someone from buying a home. They can see YOU in the home but not themselves.
If you want to sell your home, take the personal photos off the wall and stuff the pictures of you and Aunt Caroline in the drawer until after closing.
Get real PRETTY - Does your home look like a model home? Most people would answer "No" or "I wish", but really your home should look as close to a model home as possible.
Think about it this way. Selling your home is a competition. You are in a battle with every other home around you. It's a popularity contest between your home and all of the homes in your neighborhood, in your school district, in your county. How does your home compare?
Buyers are walking through your home and your neighbors home and every other home within 5 miles...how does your home compare?
You are trying to sell your home. Selling homes is not what you do every day. You may only sell a home every 2, 5 or 10 years. Don't reinvent the wheel. Go visit a homebuilder with a model home. They are in the business to sell homes and you can learn alot.
Get real CLEAN - One of the most basic, yet most important things that you can do to help sell your home is make it CLEAN! It's amazing how much more appealing a clean home is to a potential buyer than one that is dirty.
You know the old saying "you never get a second chance to make a first impression". That first impression is quite often associated with the cleanliness of your home. Try to imagine yourself as a potential buyer and see what they are seeing.
It's amazing what a pressure washer will do to the outside and 409 and Pine Sol will do to the inside.
A couple of more REALS for you...
Be REALISTIC with your price - Not only does your home have to stand out and make a lasting impression with a buyer, but your home has to make sense to a buyer. Keep in mind, that there are plenty of homes on the market right now and buyer's have choices. If you want sell your home then price it to sell.
Hire a REALTOR - For most people their home is the biggest investment that they have. If you're trying to sell the biggest investment that you have, then it makes sense to hire a professional.
Realtors are professionals. Realtors are are educated, trained and certified to help you achieve success.
Happy Selling!
You've probably heard by now that President Obama has signed the bill to extend the $8000 federal tax credit for first time home buyers to extend through April 30th 2010. The previous plan was set to expire on November 30th 2009. The plan for first time home buyers has remained essentially the same except that they have raised the qualifying income limits to $125,000 for a single person and $225,000 for a married couple.
The most signifigant change is that now the plan is not limited to first time home buyers. Those who have owned and occupied a home for at least 5 years out of the last 8 are eligible for $6500 tax credit so long as they close by the end of June 2010.
Here are some things to note for existing homeowners:
1) This does not have to be a "move up" scenario. You can sell your home and purchase something of equal or less value and still qualify.
2) There is a limit on the price. You do not qualify for the credit if the home you are purchasing is over $800,000.
3) To be eligible for the credit you must have occupied the home for at least 5 years out of the last 8...in other words, "primary res" only
4) You do not have to be actively living in the home when the bill was signed. Even if you sold your home 2 years ago and have been renting ever since, as long as the home sold was your primary residence for at least 5 years you can purchase now and qualify for the tax credit.
5) The tax credit termination date is April 30, 2010 but you do not have to close until June 30, 2010. You must have a binding agreement signed by the April 30th deadline, but you actually have a few more months to close.
All in all, looks like a good thing for the real estate biz!