Homeowners who’ve made the arduous decision to sell their place have plenty to do to prepare for the day when their home hits the market. The condition of the house - inside and out, the age of the sellers - older or younger, and the homeowner’s level of desire to control the preparations will be factors in creating a well-considered timeline.
You’ve been renting or residing with family for a while and you’re tired of living in someone else’s home. Maybe family is getting too close for comfort or you’ve have had enough of the neighbor, who always slams his apartment door. These are common reasons I hear when a first time home buyer is ready to purchase a home. If you are planning to buy and are currently renting, think ahead. The planning can be weeks, months or even years. Having a game plan will help you be prepared so when the time is right, you will be able to make your move. The following are five things to do when preparing to buy a home.
As we may be tipping off the fevered pitch of the residential real estate market here in the Pacific Northwest, it’s a good idea to highlight some valuable credentials awarded by the National Association of REALTORS® or its affiliates. These designations may be recognizable and valuable to potential home sellers or buyers as they search for brokers who will best assist them in navigating our ever-changing market.
Data, measurements, statistics, calculations. The different terms for real estate stats seem endless. You may hear these descriptions, but what use are they really and how are these numbers relevant to your transaction? One form of calculation is called the Absorption Rate. Also known as “the months of inventory based on closed sales,” it is a way of knowing how much time it would take to sell the homes currently listed. By using this form of calculation, you can determine whether it is a seller’s or buyer’s market. Studying the Puget Sounds’ low Absorption Rate will enable those selling to maximize their potential in today’s real estate market.
In the ever-convenient world of online meet and greets, there are plenty of reasons to dive deep when interviewing real estate brokers. Certainly, some of that can happen via phone, direct message or chat, even by email, but once the field is narrowed down, the conversation should continue offline whenever possible before choosing your broker. Here’s why it matters:
Updating your own place is one of the many enjoyable aspects of owning a home. Everyone loves to dream. Sites like Houzz and Pinterest are popular because planning a project is so much fun. King 5 television recently discussed a Remodeling Magazine study of the amount of return on investment (ROI) for certain home upgrades, naming the top 5 for Seattle. While homeowners are hopeful that an upgrade will increase their home’s value, not all projects are created equal. Although updating the kitchen and bathrooms have generally been at the top of any list, this year they have been displaced by those items that have to do with curb appeal.
An ethical and hardworking real estate broker has the best interests of the client in mind at all times. When working with a seller, it’s clear that we want her to benefit financially as much as possible from the sale of her home. But, that’s only the end result. The best brokers will also initiate some hard discussions about what it will take to show the home and its features in the best possible light.
Mismatching colors may have been the rage in the 80’s, but in today’s real estate market, you may want to avoid stark contrasting colors and materials. Planning is a major component to a house sale. Much preparation may be done over the months leading up to listing. In fact, during the years living in your house, the décor you choose may eventually play a part in your overall value when you do decide to sell. Have fun, be original and make your house your own, but remember, miss-matching could cost you money. The following are some common mistakes that sellers make when trying to maximize value:
In Seattle, where median home prices jumped $20,000 in a single month to $777,000, homebuyers are beginning to consider whether a home’s aesthetics and functionality warrant its purchase price. Sellers are also feeling the pressure of competition where it’s becoming necessary to pay for neglected repairs, consider minor renovations, apply a fresh coat of paint and stage the home appropriately in the hopes of attracting a hoard of buyers.
In a hot seller’s market where there are always multiple offers on listings, buyers are scrambling to give their offer the edge in bidding wars. When you buy a home, there are many contingencies on the checklist, including inspections and financing. And while they can protect a buyer from unforeseen issues that may happen after the transaction closes, it may be worth waiving one or more of them.