Cain Realty Group Austin Real Estate BlogRecently posted or modified blog posts in the category - Selling Your Austin Area Homehttps://www.cainrealtygroup.com/blog/Copyright CainRealtyGroup.com2023-02-23T16:55:51-07:00tag:cainrealtygroup.com,2012-09-20:6274Top 4 Reasons To Sell This Fall<img src="https://assets.site-static.com/userfiles/412/image/Copy_of_Blog_header.png" width="560" height="315" style="display: block; margin-left: auto; margin-right: auto;" />
1. Demand is Strong
There are less listings available this fall, so buyers are out in full force looking to find their dream home before someone else does.
2. Less Competition
Housing inventory is much lower now than the normal 6-month average. Meaning, there are not enough homes for all of the buyers.
3. Ideal Time to Upgrade
Over the next year, prices are projected to appreciate by 5.4% according to CoreLogic. Mortgage and down payment costs will be higher for those that decise to wait to move to a higher-priced home.
4. Live the Life You Desire
Why are you considering selling? Don't you want to start living that life now if you can net the same, or more, money for your home?2019-10-10T10:00:00-07:002019-10-11T08:49:40-07:00Shelby Calverttag:cainrealtygroup.com,2012-09-20:4665Why You Should Not Sell 'For Sale By Owner' and Hire The Cain Team<img src="https://assets.site-static.com/userfiles/412/image/Corrinne_Uploads/For-Sale-By-Owner-VS.-Realtor.jpg" width="600" height="450" style="vertical-align: text-bottom;" />
Are you aware that 1 out of every 1,000 For Sale by Owners (FSBO) actually sell for list price?
The most common reason why homeowners attempt to sell on their own is that they want to save money or maximize their profit by not having to pay for real estate agent commission. However, in the NAR <a href="https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers">2017 Profile of Home Buyers and Sellers</a>, FSBOs remain at an all-time low of 8%.
The typical FSBO home sold for $190,000 compared to $249,000 for agent-assisted home sales.
Why? Because FSBO's struggle with:
Getting/setting the right price
Understanding and performing paperwork
Selling within the planned length of time
Preparing/fixing up home for sale
Having enough time to devote to all aspects of the sale
You also have limited exposure to buyers. 94% of buyers start their search online for a home. Most real estate websites require an MLS access to even list a property. Only licensed real estate agents can list a property on their local MLS.
BUT, with a Realtor from <a href="http://www.cainrealtygroup.com">Cain Realty Group</a> you can expect:
The correct listing price of the home can be determined. A <a href="https://www.cainrealtygroup.com/">Cain Team Realtor</a> will do a Comparative Market Analysis (CMA) to provide an accurate home valuation. We know how to price your home right so as not to turn off potential buyers or leave money on the table.
The real estate contract will be handled properly and professionally. We have proven to significantly negotiate specific parts of the contract and will address any possibilities or contingencies included.
Your home will be listed on the market at the correct price and can have proper exposure for it to be sold quickly - <a href="https://www.cainrealtygroup.com/">Cain Realty Group's</a> average days on market is only 15 days!
The necessary disclosures, paperwork and documentation will be handled properly. Letting us handle the complicated paperwork can also help alleviate the legal and financing stress for both the seller and the buyer. We will also provide much-needed advice and support throughout the process.
Before you decide to put up a “For Sale” sign in front of your yard and take on the challenges of selling your house on your own, take the time to talk with a member of <a href="https://www.cainrealtygroup.com/">our team</a> see how we can help you.
When we sell your home, what would an extra 23.7% do for your family?2018-08-09T08:45:00-07:002023-02-23T16:55:51-07:00Cain Realty Grouptag:cainrealtygroup.com,2012-09-20:4592The Official Moving Checklist to Ensure a Seamless Move!We know that moving can be overwhelming, stressful and all kinds of hectic. We aim to equip each of our clients with all the necessary information to make their home selling process a breeze! Check out the official Moving Checklist provided by our trusted title company, Texas National Title.
<img src="https://assets.site-static.com/userfiles/412/image/Snip20180709_6.png" width="450" height="600" alt="Moving Checklist" title="Moving Checklist" style="float: left;" />
<img src="https://assets.site-static.com/userfiles/412/image/Snip20180709_7.png" width="450" height="600" alt="Moving Checklist2" title="Moving Checklist2" style="float: left;" />2018-07-09T15:05:00-07:002018-09-25T17:01:41-07:00Cain Realty Grouptag:cainrealtygroup.com,2012-09-20:4362How to Use Comparable Sales To Price Your HomeWe get a lot of clients come in that want to sell for the exact price that their neighbor got, if not more. This would make sense, as long as their home was exactly like yours starting from the lot location, tile flooring, bathroom square feet, and even down to the countertops.
Knowing how much homes similar to yours are can definitely give you a rough estimate of the estimated value of your home but there are much more definite pieces you want to find to ensure a correct estimate. <img src="https://assets.site-static.com/userfiles/412/image/House.png" width="319" height="267" class="img_box_left" />
According to <a href="https://www.houselogic.com/sell/should-i-sell-my-house/how-use-comparable-sales-price-your-home/">HouseLogic</a> your best comparable sale is the same model as your house in the same subdivision—and it closed escrow last week. If you can’t find that, here are the other factors that count:
Location: The closer to your house the better, but it is important that it matches all key factors. A good comparable sale is a house that is in your neighborhood, your subdivision, on the same type of street, and within the same school district. <br />
Home Type: Finding homes that a similar to your home in style, construction material, square footage, and the number of rooms and bathrooms.
Amenities and Upgrades: Does the home have an updated kitchen? Does the community have the same amenities? Did the homeowner install a pool? These are all key factors to ensuring your comparing to the right houses.
Date of Sale: You want to ensure that you are not using a sales price from two years ago because the two markets can be night and day in comparison. <br />
There are a ton of key factors to put into play when trying to decipher an estimated sale cost for your home. While these are good tricks to get you in the right general area, you don't want to bargain your money based on a guess made from the driveway of a home down the street from yours.
Take the guesswork out of the equation and let our Listing Specialist, Ricky Cain go to work for you. For nearly a decade we have been selling our listings for more money and in less time than the area average, and the main factor in this is knowing how to price our homes correctly.
Ricky will come over and walk the property to gain a full understanding of your home and all that it has to offer to prospective home buyers. For more information on how <a href="http://www.cainrealtygroup.com">Cain Realty Group</a> can serve you during the sale of your home <a href="https://www.cainrealtygroup.com/sell/">click here</a> or give us a call to schedule a no-obligation home selling consultation today.
2018-05-09T13:39:00-07:002018-05-09T14:25:51-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:38104 Reasons to Sell This SpringAre you second-guessing the right time to sell your house? Everyone is telling you Spring is the prime time to sell your home, but do they really know what they are talking about? We've got the answer you're looking for! Cain Realty Group takes pride in making the listing process smooth and seamless while offering jaw-dropping customer service. Take a look at 4 Reasons to Sell This Spring below, and <a href="https://www.cainrealtygroup.com/sell/">click here </a>to schedule a no-obligation home selling consultation!
<img src="https://assets.site-static.com/userfiles/412/image/reasons_to_sell.jpg" width="988" height="764" />
<img src="https://assets.site-static.com/userfiles/412/image/lisa_and_joe.PNG" width="607" height="205" />2018-03-06T07:48:00-07:002018-03-06T08:36:44-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:3748The Emotional Road Map When Selling Your Austin Area HomeHere at <a href="https://www.cainrealtygroup.com/meet-our-team/testimonials/">Cain Realty Group</a>, we understand that the home selling process can be a rollercoaster of emotions. You will have moments of joy and moments of frustration. It is nerve-racking, exciting, and so many emotions wrapped up in one!
Our team works to make the <a href="https://www.cainrealtygroup.com/sell/">home selling process</a> as smooth and seamless as possible. During all phases of a listing from the initial paperwork and promotion through the very last details of the closing, we personally attend to all of the details. As a result, the large majority of our transactions come through referrals and repeat business.
Here is an emotional roadmap during the process, but don't worry, we will be there the whole way!
<img src="https://assets.site-static.com/userfiles/412/image/house_logic.png" width="860" height="4470" />
Image: <a href="https://www.houselogic.com/sell/should-i-sell-my-house/selling-house-infographic/?site_ref=mosaic">HouseLogic</a>2018-02-20T10:19:00-07:002018-02-20T10:29:35-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:27465 Reasons to Sell This Winter<img src="https://assets.site-static.com/userfiles/412/image/5_Reasons_to_sell_this_winter.png" width="644" height="358" />
Here are five reasons listing your home for sale this winter makes sense.
1. Demand IS Strong
The latest <a href="https://www.nar.realtor/research-and-statistics/research-reports/realtors-confidence-index" title="Buyer Traffic Report" target="_blank">Buyer Traffic Report</a> from the National Association of Realtors (NAR) shows that buyer demand remains to stay consistent and strong throughout the majority of the country. Most of the buyers are readily able to purchase and are look right now! Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
Housing inventory is still under the 6-month supply that is needed to maintain a normal housing market. This means that there are not enough homes for sale to satisfy the number of buyers in the market.
In the past, the average number of years a homeowner stayed in their home was six, but has increased to between nine and ten years since 2011. There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.
The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.
3. The Process Will Be Quicker
Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before starting their home buying search.
4. There Will Never Be a Better Time to Move Up
The inventory of homes for sale at these higher price ranges has forced these markets into a buyer’s market. This means that if you are planning on selling a starter or trade-up home, your home will sell quickly, AND you’ll be able to find a premium home to call your own!
5. It’s Time to Move on With Your Life
Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.
Source: Keeping Current Matters2017-12-05T08:45:00-07:002017-12-05T13:52:31-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:25984 Reasons to Sell This FallFor nearly a decade we have been selling our listings for more money and in less time than the area average. Our homes have fewer days on market prior to selling due to our state-of-the-art <a href="https://www.cainrealtygroup.com/sell/marketing-your-home/">V.I.S. Home Marketing Plan</a>, which means they sell for more money every time.
Selling in the holiday season may scare many homeowners, although, fall is, in fact, the prime time to get your house on the market. Check out these four reasons to sell this fall.<br />
<img src="https://assets.site-static.com/userfiles/412/image/4-Reasons-STM.jpg" width="649" height="501" class="img_box_center" style="display: block; margin-left: auto; margin-right: auto;" />
Find out more about the systems, experience, and technology we use to outperform other Realtors by scheduling a no-obligation<a href="https://www.cainrealtygroup.com/sell/"> home selling consultation.</a>2017-11-09T07:59:00-07:002017-11-09T08:30:36-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:2219New Statistics Prove Home Staging Pays Off When Selling a PropertyHome staging gains traction among real estate agents as a secret weapon in the selling process, with 62 percent of Realtors® saying they believe home staging helps decrease the amount of time a property stays on the market according to the <a href="https://www.nar.realtor/reports/profile-of-home-staging">2017 Profile of Home Staging</a> from the National Association of Realtors.
<img src="https://assets.site-static.com/userfiles/412/image/Home_staging.jpg" width="700" height="700" style="display: block; margin-left: auto; margin-right: auto;" />
More than Decluttering
The NAR survey found that 93-percent of agents recommend that sellers declutter their home before putting it on the market, which all home stagers would agree is a crucial step in the process, but there is more to home staging than just decluttering. Preparing a home for sale means staying on top of cleaning and decluttering tasks. Plus, seeing what updates the home could use, for instance, fresh paint or accessories and make any necessary repairs needed (whether visible or not). Staging also involves showcasing which is the process of arranging furniture and accessory placement, using proper art, lighting in a space and of course getting professional photos shot to show off the property online.
Seeing is Selling Power
77 percent of buyers’ agents said that staging a home makes it easier for buyers to visualize the property as their future home, and 40 percent are more willing to walk through a staged home they first saw online. 38 percent of buyers’ agents said that staging positively affects a home’s value if the home is decorated with the buyer in mind. This proves that home sellers need to set their own feelings aside about their property and belongings to feature only what buyers are interested in seeing. A buyer will pay more for a house if it satisfies their needs.
Staging Rooms
As for what rooms to stage, a majority of agents said the living room is the most important, followed by the master bedroom, kitchen, and any outdoor space. Staging the main areas of the home is key to show buyers the potential lifestyle buyers could adopt if they purchased the property. Also, consider highlighting positive features and unique spaces on the property with staging to make it stand out among the neighboring competition.
Cost vs. Value
Home staging doesn’t have to cost a lot! The report found that among buyers’ and sellers’ agents both agree that staging improves the dollar value of the home by 1 to 5 percent. This statistic reinforces the idea of you have to spend money in order to make money. Want to learn more about what projects to complete in order to add more value to your property by properly preparing it for sale?
<a href="http://toritoth.com/home-staging-report/">Source</a>2017-07-24T07:47:00-07:002017-07-24T08:22:39-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1927Selling Up? Why Not Hire Someone to Live in Your Home?<br />When it comes to selling a house, appearances count. That’s why more and more homeowners hoping to wow buyers will hire a home stager—a magician-like professional who swoops in with stylish furniture you’d never own, blandly tasteful modern art you’d never hang, and an undeniable flair for organization, and makes your place look, well, picture-perfect. It’s the stuff that full-asking-price offers are made of.
The downside: While staging may help your home sell faster, it makes it look a bit, well, staged. But now there’s a way to get a more genuine, lived-in look: Just hire someone to live in your place!
Here’s how this weird but growing trend works: Once you hire a staging company to sell your vacant home, it finds someone who’s willing to move in with all his or her (suitably attractive) furniture and have it arranged by the company to look its best. Then, your home’s new and temporary inhabitant kicks back there until the place is sold. The inhabitant will also take care of cleaning and maintaining the property, and scoot when it’s time for showings.
While these live-in home managers aren’t paid, they benefit by getting to live in a property—often very posh ones—and pay a reduced rent to the staging company, typically one-third to one-half of market rate. Meanwhile, the staging company is also getting a fee (typically 1% of the sales price) from the sellers for making their home look cozy and livable to potential buyers.
The pros and cons of live-in home staging
Live-in home staging is still relatively rare. However, Matt Kelton, COO of Showhomes, which offers this expanded service, believes that buyers are drawn more to a house occupied by a real person than a nicely staged shell of a home.
“Something about having food in the pantry … it’s hard to put my finger on it, but there’s some kind of emotional connection that happens,” he told <a href="http://www.npr.org/2014/07/19/331352078/temporary-tenants-give-luxury-homes-a-lived-in-look" target="_blank" data-omtag="web:article:content:link">NPR</a>.
Home sellers also have the satisfaction of knowing that someone is keeping an eye on their place.
But not everyone is gaga over the idea. For one, while it might be nice to have a place look lived-in, it’s not so nice if home buyers pop in to see the place when the home manager’s Chinese takeout containers are on the kitchen counter.
“The most difficult part is making certain the home is perfect every time we walk out the door,” admits Mike Callahan, owner of a Showhomes franchise in Fox Valley/Naperville, in Illinois. He and his wife, Janine, are seasoned pros—they’ve been home managers since 2010 and are currently living in their 11th home. Even after all that time, they confess that keeping the house ready to show is probably the hardest thing about their job.
“You just finished dinner, a friend calls to say they are going to a movie in 20 minutes. Normal people can just get up and leave; not so with us,” he says. “We first have to make certain all evidence of the meal is out of sight and the rest of the home is show-ready.”
Woo Shin of One Two Six Design, a traditional home staging company in Santa Clara, CA, argues that live-in staging falls short because certain aesthetic elements get sacrificed for comfort. For instance, live-in home stagers might not want a delicate vase perched on a tiny side table lest it get knocked over and smashed to bits. And that throw blanket arranged just so on a couch might be grabbed for warmth as they lounge in front of the TV.
“When we stage homes, we focus on creating a space that’s aspirational and maximizing what the space can be. This doesn’t always equate to functionality,” says Shin.
<a href="http://www.realtor.com/news/trends/live-in-home-staging-trend/" target="_blank">Source</a>2017-02-23T15:00:00-07:002017-06-25T19:08:12-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1925Selling? Top Reasons Why FSBO is NOT the Way to GoIn today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.
Here are the top five reasons:
1. Exposure to Prospective Buyers
Recent studies have shown that 94% of buyers search online for a home. That is in comparison to only 17% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?
2. Results Come from the Internet
Where did buyers find the home they actually purchased?
51% on the internet
34% from a Real Estate Agent
9% from a yard sign
1% from newspapers
The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.
3. There Are Too Many People to Negotiate With
Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:
The buyer who wants the best deal possible
The buyer’s agent who solely represents the best interest of the buyer
The buyer’s attorney (in some parts of the country)
The home inspection companies, which work for the buyer and will almost always find some problems with the house
The appraiser if there is a question of value
4. FSBOing Has Become More And More Difficult
The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.
The 8% share represents the lowest recorded figure since NAR began collecting data in 1981.
5. You Net More Money When Using an Agent
Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.
Studies have shown that the typical house sold by the homeowner sells for $185,000, while the typical house sold by an agent sells for $245,000. This doesn’t mean that an agent can get $60,000 more for your home, as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.
Bottom Line
Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.
<a href="http://www.keepingcurrentmatters.com/2016/12/26/top-5-reasons-you-should-not-for-sale-by-owner/?utm_campaign=2_engagement_blog_conversions&utm_medium=ppc&utm_source=Facebook&utm_content=dailyblogpostad&utm_term=OUTREACH_Interests_Coaches" target="_blank">Source</a>
2017-02-22T15:00:00-07:002017-10-04T10:15:04-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1910Common Concepts Between Home Selling and Finding 'The One' OnlineWhat does selling your home have in common with online dating? Probably a whole lot more than you think.
There may be plenty of potential prospects out there, but it’s not always easy to find the perfect match. Sound familiar? If your place has been sitting on the market for a while, or your last deal unexpectedly went kersplat, it may seem like you’ll never find that elusive happily ever after.
Fortunately, there are more than a few life lessons sellers can learn from dating services like OkCupid, Match.com, and Tinder to ensure their home attracts the best possible buyers who appreciate its worth and treat it well. And who, most importantly, won’t leave you high and dry before the closing.
So keep swiping—er, scrolling—to get our top five tips to ensure prospective buyers don’t break your heart.
Lesson No.1: Hide your crazy
Whether you’re trying to get an offer for a house or a dinner date, you might not want to immediately disclose the more unique aspects of your personality.That’s because you don’t want to limit your pool of potential suitors.
This means stash away your ear wax collection, pet tarantula Buffy, complete 18-year collection of the Teddy Bear Times, and all bikini babe posters before an open house.
“Get rid of all the weird quirks or bizarre fascinations that you might have that the average person may not understand,” says Briddick Webb, a Bellingham, WA–based real estate agent with of Re/Max Whatcom County. He’s had to advise clients to put their bobblehead figure or doll collections away, or to tone down giant shrines before a showing.
Lesson No. 2: Write up an enticing profile
Whether you’re trying to rustle up a date for Friday night or find a potential buyer, it’s important to sell yourself—and, when it comes to home sales, that means your property. Highlight the best features of your home, like the awe-inspiring floor-to-ceiling windows, high ceilings, or new, energy-efficient appliances to make buyers swoon.
And feel free to downplay some of your home’s less-than-desirable attributes such as the small master bedroom or the garage that can accommodate only one car. Or you can frame it as a project for new homeowners—some people like fixer-uppers.
“Work with your Realtor® to craft the perfect statement,” says Portland, OR-based Realtor Deb Counts-Tabor. “The Realtor knows what words are going to bring people in. But you know the highlights of the home.”
Lesson No. 3: Looks do matter
In the same way that a new wardrobe, a personal trainer, and a few laser teeth-whitening sessions can work wonders for your appearance, so can some new carpeting, wallpaper, or flooring in your home. Making basic and cosmetic repairs can add thousands to the price of your home—and help it to sell quicker in many instances.
“Before you put your house on the market, you want to look the best that you can,” says Webb, who is also a former dating coach. “A lot of our decision-making is based on emotions rather than logic. … A house that’s cleaned up and smells good is going to create a positive emotional response in a buyer. It’s going to sell faster for more money.”
It may even be a good idea to call in the pros—a professional staging company that is. They’ll come in and swap out the furniture and upgrade the decor to show the property in its best possible light.
“A lot of times, buyers don’t have the imagination to see what the home could be,” Webb says. And that’s why it makes sense to help them along.
It’s also important to make sure the unsexy stuff, like the electrical and plumbing systems, are in proper working order, says Counts-Tabor.
“Everybody focuses on the great backsplash, but it’s the $5,000 sewer repair that will damage your value,” she says.
Lesson No. 4: Don’t show photos taken when a President Bush was still in office
Nearly all online daters have had that terrifying moment when they meet that smoking-hot single they’ve been messaging with—who is clearly 15 years older, 30 pounds heavier, and generally way schleppier than the person depicted in those Tinder photos. Sigh.
It’s the same with homes. Sellers should drop a few hundred bucks to hire a professional photographer to take current pictures to show off a residence’s best qualities, say real estate agents.
“Keep your selfies on your phone. Get studio-quality shots and a 3-D tour, if possible,” Carl Medford, CEO of The Medford Team, based in Fremont, CA, <a href="http://www.inman.com/2017/02/09/homesellers-can-take-cues-online-dating/" data-omtag="web:article:content:link">wrote</a> in Inman. “Unfortunately, like it or not, how a home looks online dictates whether [a] seller ends up with a match, with the buyer of [their] dreams.”
Sellers should think about the pictures as “glamour shots,” says Counts-Tabor.
“It draws people in,” she says. “You get more showings.”
Lesson No. 5: Be realistic
No matter how great your home is, it’s important for folks to set realistic expectations, say real estate agents and dating coaches.
“If you’re in your late 40s, you’re unlikely to date someone in their 20s,” says Arthur Malov of NewYorkDatingCoach.com. Similarly, if every other home on your block has been selling in the mid-$300,000 range, your home probably won’t fetch $400,000, he says.
Sellers also shouldn’t expect that every potential buyer that comes through their door is The One. And they shouldn’t expect their abodes to be perfect either, says Counts-Tabor. Sometimes, they just need to get out there.
“Don’t go crazy worrying about every little detail,” she says of sellers who want to make what seems like a million improvements on their homes before listing them. “Pretty soon they are a year down the road and … their house isn’t even on the market because they don’t think they’re ready yet.”
Lesson No. 6: Appearances are often deceiving
First impressions can be deceiving. For example, the nice couple who oohed and ahhed during the open house may say they’re emotionally ready to become homeowners, but they may not really be prepared to say goodbye to their current abode.
They may be having second thoughts about the responsibilities of homeownership, or want to make sure there’s not a better house out there. Or they’re simply commitment-phobic.
One sign that can help you separate the commitment-ready from those just playing the field is to look for buyers who are pre-approved for a mortgage.
“If a buyer takes the time to write up an offer, they’re serious,” says Counts-Tabor. But “you don’t want to get an offer in and find out halfway down the road that they can’t get financed.”2017-02-13T15:20:00-07:002017-06-05T17:54:34-07:00Ricky Caintag:cainrealtygroup.com,2012-09-20:1857Things You Need to Know About Backup OffersPicture this: You’ve been house hunting for ages and finally find the home of your dreams. The only problem is, it’s already under contract with another buyer. Yet your real estate agent says there’s still hope. Enter, the backup offer. But what exactly is the backup offer, and is it worth waiting in the wings for a home that’s already taken?
It helps to learn exactly how it works. As a buyer, you make an offer just as you would if you were the first interested party, negotiating until you reach terms and a contract with the seller. If the first deal falls through for any reason, you’re next in line to get the house.
Benefits of the backup offer for buyers (and sellers)
Although it might seem like a long shot, the backup offer actually has a reasonable chance of scoring you a home. Deals fall through for all kinds of reasons, so if you’re in the backup position, you’ll lock things in and keep a home from going back on the market.
Locking things in like this is smart in competitive areas with low inventory. For example, if the original deal falls through and that home you love is relisted, you’ll be competing against other buyers, which could spark a <a href="http://www.realtor.com/advice/how-to-win-a-bidding-war-on-your-dream-house" target="_blank" data-omtag="web:article:content:link">bidding war</a> that will boost the home’s price, explains Kevin Lawton, a Realtor® with Coldwell Banker Schiavone & Associates.
From a seller’s viewpoint, the backup offer can offer both peace of mind and leverage.
“If at any point the seller feels the buyer with the currently accepted offer is being difficult or does not have the funds to purchase the property, then they know the backup offer is there,” Lawton says.
How to make your backup offer stand out
Offering above the asking price will, of course, catch the seller’s eye, but that’s not the only way to make your backup offer seem tempting. Did something about the home or neighborhood really strike your fancy? Let the homeowner know.
“When I craft a backup offer, I try to suggest to my buyer that we personalize it: Find a point of connection with the property, seller, or neighborhood,” explains Nadia Bartolucci of Douglas Elliman in New York City. “That way, if the opportunity arises when a backup offer needs to be selected, the points of connection will hopefully resonate, along with the offer price. This year alone, I have had several customers gain accepted offers as the backup offer based on the above strategies.”
It’s also important to get a sense of where buyer No. 1 is on the home closing timeline, Bartolucci advises. The original buyer typically has to close the deal within a certain time frame—<a href="http://www.realtor.com/advice/buy/how-long-does-it-take-to-close-on-a-house/" target="_blank" data-omtag="web:article:content:link">50 days on average</a>—so it’s helpful to know how long you have to wait for a decision.
During this time frame, it’s also wise for your agent to check in frequently with the listing agent not only to keep tabs on how things are going, but also to indicate how serious you are about stepping in if things fall through.
Typically, a backup offer will require an <a href="http://www.realtor.com/advice/buy/understanding-the-earnest-money-deposit-2/" target="_blank" data-omtag="web:article:content:link">earnest money</a> or good-faith deposit, which will be returned should the first buyer close on the property.
What are the odds that the backup offer will succeed?
When making a backup offer, it’s important to remain realistic about your chances.
“Getting attached to a house that you most likely can’t get is like holding out hope for unrequited love; generally, it brings nothing but disappointment,” says Deb Tomaro, a Realtor and host of “REAL Real Estate Today” on VoiceAmerica. “I find it’s not great to hold out hope if your real estate market pretty consistently closes transactions.”
In fact, a backup offer can have the effect of pushing the first buyer to close as quickly as possible—and possibly overlook small issues since the buyer knows the seller has no reason to be all that flexible, with a second suitor waiting in the wings.
What if the first deal falls through?
If the first offer on the home does fall apart, don’t assume you’re in the clear just yet. While the contract may have foundered due to issues with the first buyer (for instance, lack of financing), it’s more likely that those buyers unearthed problems during the <a href="http://www.realtor.com/advice/buy/what-does-a-home-inspector-look-for/" target="_blank" data-omtag="web:article:content:link">home inspection</a>—e.g., a faulty foundation or leaky roof.
“If first deals do fall apart, it’s mostly because of bad home inspections,” says Tomaro. “So even as the backup, you may not even want the house.”
So if the first buyer walks, make sure you know why. If it’s a serious flaw, you should ask yourself: Do you really want to deal with it yourself?
Make sure to do your own <a href="http://www.realtor.com/advice/buy/what-is-due-diligence/" target="_blank" data-omtag="web:article:content:link">due diligence</a> (and perform your own home inspection) to detect any problems you don’t want to deal with. If so, as long as you include a home inspection contingency in your contract, you can walk away from the deal as well (with your deposit) no worse for the wear.2017-01-17T13:00:00-07:002017-06-05T17:50:23-07:00Ricky Caintag:cainrealtygroup.com,2012-09-20:1810Top Open House Fails to Avoid in the WinterSummer open houses are easy-breezy. The sun is shining, the air is warm, potential buyers are out in force, and your curb appeal is on point thanks to blooming flowers and a lush green lawn.
Winter is a very different beast when it comes to open houses. Buyers huddle inside, wary of the cold and snow. Foot traffic can slow to a trickle during the holidays, when folks spend time with family and friends and suspend their hunt for a home.
And if you create additional hurdles for potential buyers before you even open your door, it could be a long slog through the snowy months. Avoid these seven gaffes when throwing a winter open house, and make buyers feel the warm fuzzies for your home.
1. Not clearing a path, for goodness’ sake
No one’s going to be happy at your open house if you make them trek through a month’s worth of built-up snow to get there—or worse, if they slip and fall on an icy surface. Of all the open house mortal sins, causing a potential buyer to fracture a hip is definitely up there.
“To bring people to your door, you have to literally clear a path to your door,” says Joe Moshé, a broker and the owner of <a href="http://www.crrli.com/" target="_blank" data-omtag="web:article:content:link">Charles Rutenberg Realty</a> in Plainview, NY.
And <a href="http://www.realtor.com/advice/home-improvement/monthly-home-maintenance-checklist-december/" target="_blank" data-omtag="web:article:content:link">clearing a path</a> isn’t just about shoveling: Try laying down rock salt to keep any melted snow from refreezing.
And make sure to look beyond your sidewalk. Snow buildup on your street might make your home less visible, or it could mean potential buyers will have to park farther away—and have ample time to snap out of the buying spirit. Shovel out plenty of parking spaces for visitors.
2. Skipping the ‘landing zone’
In most places, winter means snow and rain. And snow and rain mean scarves, jackets, gloves, and muddy shoes. Try as they might to be polite, potential buyers are tracking in all kinds of muck—all over your professionally cleaned or staged home.
Create a landing zone by your entrance to keep the mess at bay. Add extra hooks and a coat rack so no one is forced to tote around a heavy parka. Put up a placard kindly requesting guests to remove their footwear, and provide baskets or cubbies to stow the items. Don’t forget an umbrella stand.
Want to be really nice? Purchase inexpensive slippers so guests won’t have to shuffle about in their socks. They’ll love it.
3. Overheating the place
Piles of snow cover your yard, icicles dangle from your trees, and you can’t step outside without six layers of clothing. Winter isn’t coming—it’s here. But a serious chill doesn’t mean you need to turn your home’s interior into a sauna.
Find a reasonable temperature for your thermostat, Moshé says—and that does not mean 80 degrees Fahrenheit.
“Your potential visitors will be entering your house from a much colder outdoor temperature,” says Justin M. Riordan of <a href="https://www.spade-archer.com/" target="_blank" data-omtag="web:article:content:link">Spade and Archer Design Agency</a>, a home staging company in Portland, OR. Buried in hats, coats, and boots, they will find the 80-degree temperature downright steamy. Stick to 68 degrees to keep everyone comfy.
“If they find the temperature inside the house to be uncomfortable, that may sink any chance of making a sale,” Moshé says.
4. Phoning it in
Nobody likes a Scrooge, particularly at this time of year. <a href="http://www.realtor.com/advice/sell/how-to-hold-a-memorable-open-house/" target="_blank" data-omtag="web:article:content:link">Don’t limit yourself</a> to the standard plate of supermarket cookies and bottled water. A winter open house requires more effort—and will be appreciated by those who had to abandon their warm spot on the couch to come see your home.
“Host a big open house by doing something fun and unusual to draw a crowd,” says <a href="http://www.christibecarealty.com/" target="_blank" data-omtag="web:article:content:link">Christi Beca</a>, a Realtor® in Dallas. “Make it a big deal. Families love that.”
If you’re truly feeling the spirit, you could go bold and hire Santa to come take photos with the kids. Or take a simpler approach. Beca recommends hiring a caterer to provide seasonal treats, snacks, and hot chocolate. And make sure to flaunt that fireplace to give things an extra cozy feel. After all, you can’t (or at least shouldn’t) light that sucker for a summer open house, so you might as well take advantage of the season.
5. Going too far
But when you’re planning your blowout winter open house, make sure to keep the essential tenets of staging in mind: Buyers need to see themselves in your home.
Yes, you love your crystal Christmas tree and the Mannheim Steamroller–themed light show that overtakes your front yard. But not everyone celebrates the same holidays as you.
“<a href="http://www.realtor.com/advice/sell/decorating-selling-your-home-during-the-holidays/" target="_blank" data-omtag="web:article:content:link">Skip the holiday décor</a>,” Riordan says. “Your holiday decorations will tell a story about your life and your traditions, which may very likely be different than the person who is buying your house. These decorations will have the buyer thinking about you when they should be thinking about themselves (in the house).”
If you do keep any seasonal decorations up, keep them tasteful and subdued: A red-and-green plaid throw or pine garlands, for example, can look festive without overdoing it. Skip the front-yard life-size nativity scenes for now.
6. Lacking light
Darkness and dreariness rule during winter, but you want visitors to find your open house bright and cheerful.
“Lighting is one of the most important factors in selling a home,” says Than Merrill, the CEO of real estate investment education company <a href="http://www.fortunebuilders.com/" target="_blank" data-omtag="web:article:content:link">FortuneBuilders</a>. “Second only to location, lighting is the one thing that every buyer cites as a necessity.”
Sure, you’ve survived with your lights as is for long enough, but are they enough to entice your buyer? Give each room a long, hard look. If it lacks can lighting or any kind of built-in light fixture, double up on lamps to make the room pop.
Adding more bulbs isn’t the only way to <a href="http://www.realtor.com/advice/home-improvement/lighting-tricks-dark-home/" target="_blank" data-omtag="web:article:content:link">brighten a room</a>. Merrill recommends removing drapes, scrubbing the windows, increasing your wattage, and trimming outside bushes to let the sun shine in.
7. Forgetting to keep an eye on the weather
You can host an open house in a flurry, but if those flakes become a full-strength blizzard, be prepared to reschedule. Know the forecast. A little flexibility can mean the difference between a low turnout and a house full of happy potential buyers.2016-12-19T08:00:00-07:002017-10-04T11:08:24-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1754Things You Need to Know About a Broker's Open House and Smart Marketing of Your HomeAnyone who wants to sell their home is likely to encounter the prospect of hosting a broker's open house. But don't get the concept wrong; it's an event FOR agents who have buyers who are checking out how suitable your home is for any of their clients. Here's how you'll benefit from a broker's open house and why you should give your agent a "go" in hosting one:
What makes a broker's open house different?
A broker's open house is different from a standard open house because of the people who come to the event. You'd expect buyers to come in a standard open house, but broker's open houses are for agents who represent buyers and other industry professionals. Standard open houses are also hosted commonly on weekends when prospective buyers, curious neighbors, and anyone else interested to take a look at your home have spare time on their hands. Broker's open houses, on the other hand, are scheduled midweek since most agents are free to attend such events during that time.
What happens at a broker’s open house?
A broker's open house is marketing work in the making. Aside from making your home available to internet marketing systems like the MLS, a broker's open house introduces your home "live" to a group of people who can help you sell your home faster. The people who come to a broker's open house all have contacts who might help you close the deal, so it is important to make these people and their contacts aware of your new listing.
What are the benefits of hosting a broker's open house for sellers?
Having professional people who have a large network of buyers visit your home benefits you by exposing your home to the people who can actually bring you an offer. Their attendance isn't just for the food-- they check out each open house and see if the home is a perfect fit for one of their client's preferences. Broker's open houses often lead the way to private showings from potential buyers who have been informed by an agent of a potential match of their preference to your listing.
Simply put, gritting your teeth through strangers walking around your house and inspecting every nook and cranny as you serve them lunch might be the best marketing opportunity you can do for your listing. Go ahead and dive right in-- your agent will surely help you take care of everything.
Want to know more about broker's open houses? Here's a Realtor.com <a href="http://www.realtor.com/advice/sell/what-is-a-brokers-open-house/?iid=rdc_news_hp_carousel_theLatest" target="_blank">resource guide</a> for you.
2016-11-17T13:00:00-07:002016-12-29T16:37:23-07:00Karen Phantag:cainrealtygroup.com,2012-09-20:1736Never Say These Words When Selling UpAny home seller would want to close a deal on their home FAST, so it is but natural for us to utter a few flowery words in the hopes of clinching a quick deal. However, selling up a home is one of the few situations when you might want to be extra careful with what you say, as you might not want to wind up putting your foot in your mouth. Cain Realty Group brings you 5 of the most common phrases you should NEVER say as a seller (Yes, we've heard 'em and we've seen the damage that can be done!):
Statement 1: "The house is perfect and ready for move in!" - Of course the house is perfect! Is there a lunatic who would agree to live in a flawed home? But what you see in your home may not be the reality for others. Whether the home is brand new or it is a resale, a buyer will always find things to fix, adjust, replace, and/or remove in order to fit their definition of what a perfect home is. It's better to share to your buyer what you think is the highlight of the home, and which ones might need a tweak to become the buyer's perfect new home.
Statement 2: "Good thing you're considering our house! It's been in the market for so long, like XX days!" - Admitting that your home isn't selling like hot cakes is an insult to your home, and one that unscrupulous buyers might think as the very reason why they are gonna get your home at a very low price. The days on market is indicated in the home's information sheet-- there is no need for you to bring it up when you could use the opportunity to point out what you love about your home to the buyers instead.
Statement 3: "Oh, that? We've never had problems with it." - if you're tempted to tell a few white lies to sell up fast, DONT. Things such as flooded basements, weird neighbors, and paranormal hauntings will eventually be found out. If you don't want the embarrassment and the potential risk of undergoing litigation, come clean with everything. After all, you wouldn't even survive the inspection with your white lie(s), so why risk?
Statement 4: "We meant to fix/renovate that, but..." - There is no need for you to make buyers aware about botched renovation plans. Pointing out the plans that never came to fruition just translates to additional cost for the buyers. If it's a renovation, leave it be; the new owners will renovate as they please. For repairs, you can either get it fixed before closing or negotiate the terms on how to address that (such as in a contingency).
Statement 5: "This is the finest quality you can find in the market. We spend thousands for that upgrade" - Saying this can make you either seem arrogant or desperate. The buyer will not care how much you invested for that upgrade. Their offer will be based on comparable market data, and not on the energy-saving imported tile you had shipped from Italy for $10,000. Save it and negotiate the final price of the home, not as how each item inside it was priced.
Statement 6: "The selling price is fixed. It can't get any better than that." - Who would even dare negotiate with you if you sound unaccommodating from the very beginning? Everybody wants top dollar when selling, but buyers want to save as much as they could, too. Meet halfway and you'll get somewhere; refuse to budge and you'll end up nowhere.
Need help selling your home quick? Cain Realty Group is <a href="https://www.cainrealtygroup.com/meet-our-team/" target="_blank">ready to help</a>! You can also <a href="https://www.cainrealtygroup.com/blog/" target="_blank">check out our blog</a> for useful home selling tips!2016-11-09T10:00:00-07:002016-11-10T06:10:45-07:00Karen Phantag:cainrealtygroup.com,2012-09-20:16464 Basic Preparations for a Home ShowingAll homeowners need to prep up their home to be ready for viewing before it hits the market. While some owners go the extra mile and invest on remodels and home staging services, others can just stick to the basics and be as successful with selling their home. If you want to take the practical route, you have to make sure to cover these four key areas and prep them up right for a home showing:
Substantial lighting-- ALL rooms in a house need to have natural and artificial lighting. And for artificial lighting, you need "three opints of light". One arrangement is the provision of a table lamp, floor lamp, and a task light, or an overhead light fixture with two table lamps. Bright rooms entice home buyers, so prioritize setting this up before the next three key points.
Polished floors-- selling a home doesn't mean you have to spend on having the floorboards replaced or retiled. Unless the floors are severely damaged, a professional floor buffing service might be all you need to get that attractive shine back on to your floors.
Clean bathrooms-- a sparkly and odor-free bathroom is an acceptable bathroom. Also, if you can afford small improvements such as modernized faucets, mirrors and bathroom accessories, those can help you win your home buyer's heart. The key is to present a clean bathroom that your visitors wouldn't hesitate on using-- during the home showing AND when they do decide to buy the home and live in it.
Deep cleaning-- the cleaning you need for the photo shoot is different from the cleaning you have to work on for a home showing. Make everything sparkle, and vacuum the dust. If the buyers see that the home is properly maintained, they are likely to believe that the condition of the home is well worth the price.
Need more tips to prepare for a home showing? Check out our blog. You can also visit the article from which this post was based by clicking <a href="http://www.nytimes.com/2016/09/18/realestate/preparing-your-home-for-sale.html?_r=0" target="_blank">here</a>.2016-09-29T08:00:00-07:002017-10-04T11:17:11-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1596SELLER Tip: How to Get Ready for an Unscheduled Home Showing<img src="https://assets.site-static.com/userfiles/412/image/Blog/July_Onward_Blog_Images/How_to_Get_Ready_for_an_Unscheduled_Home_Showing.png" width="350" height="348" alt="How to Get Ready for an Unscheduled Home Showing" title="How to Get Ready for an Unscheduled Home Showing" class="img_box_right" />Most realtors acknowledge that home showings should ideally be scheduled and well-planned to give sellers ample time to prepare their home and set their schedules accordingly. Ample preparation can help sellers make the right impression in order to please buyers and help them decide in favor of purchasing their home. But what if you have to impress the buyer who is coming over in 10 minutes instead of the scheduled appointment next week?
Don't fret, since you can still make use of those 10 minutes to showcase your home in its best light, even if you haven't cleaned the house yet, the dogs haven't taken a bath (and they're supposed to be at your mom's for the showing!), and you have a date tonight! All you have to do is follow Realtor's <a href="http://www.realtor.com/videos/video-how-to-get-your-home-ready-for-a-showing-in-10-minutes-or-less/16118374-bc1d-4d86-9e07-c550dbeb9448?playlist_id=9290e163-84ad-483b-9b7d-993161d8fcba" target="_blank">advice</a> on how to prep up your home for a showing in 10 minutes and you're good to go:
1. Brighten up your home-- A light-filled home exudes an aura of energy and positivity to house visitors, more so prospective buyers, so make sure to turn on the lights, pull up the blinds, pull the curtains apart, and let the sunshine in as much as you can. The positivity can influence buyers into feeling that the home presents good energy-- plus points for buyers who believe in the power of good vibes!
2. Get rid of bad smells-- as soon as your agent calls about the buyer who is on his way, take out the trash, put all dirty clothes in the laundry bin, and spray the bathrooms with a strong cleaner. Also, don't forget to remove any leftover food in the kitchen that could be giving clues to your visitors about the meal you just had. Coffee grounds on small bowls placed strategically in the rooms can help neutralize the smells.
3. Make you bed-- the house is still your home, but you don't want to show the buyer too much of your personal side. You want them to envision being the owners of your home. Make the bed even if you don't like doing it. Better yet, cover everything up with a fresh comforter that would hide all the sheets you've stubbornly refused to change for the past two weeks!
4. Clean the countertops-- Cleaning the kitchen is a day's work, so if you only have less than 10 minutes (after brightening up the house, taking out the trash, and fixing that confounded bed!), the most practical way to present your kitchen in its best light is to clean the countertops. Squeaky clean sparkling, if you may. Show them that in spite of your busy lifestyle (often used as an excuse for your refusal to clean up!), the workmanship of the house stands out because of the fine materials used in building it.
5. Get out!-- It's sorely tempting to stick around and listen to the buyer croon (or complain!) about your home, but it's probably best you leave. Buyers are ALWAYS not comfortable around sellers, so as soon you do steps 1 to 4, pass it on to your agent. <a href="https://www.cainrealtygroup.com/meet-our-team/testimonials/" target="_blank">The expert will do the selling for you</a>, and you're probably better off using your unexpected break to get a coffee or stroll at the mall-- whatever to fill in the time you have in your hands.
Unexpected home showings aren't actually a bad thing; having them can be rattling only if you don't know how to handle it. With these <a href="http://www.realtor.com/videos/video-how-to-get-your-home-ready-for-a-showing-in-10-minutes-or-less/16118374-bc1d-4d86-9e07-c550dbeb9448?playlist_id=9290e163-84ad-483b-9b7d-993161d8fcba" target="_blank">Realtor tips </a>in mind, you will surely handle this like a pro next time (althought it would be better if the next ones would come with a scheduled appointment!)
2016-09-01T15:00:00-07:002017-06-05T17:49:17-07:00Ricky Caintag:cainrealtygroup.com,2012-09-20:1595Attention Home Sellers: How to Choose the Right Realtor to Work WithPeople commonly choose a realtor according to the listing price they suggested. A general rule of thumb is that, "the higher the listing price, the better the realtor is". Realtor® explains that there is more to choosing an agent than just hearing the price that the seller likes. In fact, people who hire a realtor who gave them a high price that is way more than the prices suggested by others often end up selling their home at the lower price suggested by other realtors. Won't you feel ripped off that way? Here's how NOT to fall for a realtor who's "buying a listing":
1. Interview several candidates for the job. Ask them about their professional experience, the average days on market (ADOM) of their listings, recommendations given to them by people you know, AND their estimated value of your home.
2. Using the track record, days on market stats, AND the suggested list price for your home, make a table and compare. Did a realtor quote a price that is higher than the rest? Single him out and compare his record and ADOM to the others. If his quotation is noticeably higher than the rest yet his ADOM and professional record aren't actually that impressive, then that's a tell-tale sign that he's an agent who's haphazardly "buying your listing".
3. Dont fall for the "empty promises" that come with the prices given by an overzealous agent. Ask around the neighborhood and know how much they were able to sell their home. Find an average. And use the figure to choose the realtor who was able to quote a price in that range AND with the professional record and ADOM that can sell the home in the fastest way possible.
Don't get caught up in the figures. Choose your realtor wisely. After all, <a href="https://www.cainrealtygroup.com/meet-our-team/testimonials/" target="_blank">the real experts</a> are careful in giving you honest and accurate prices, as they work to get your home sold and not to make you believe in something that won't work.
For more tips on how to sell your home and how to choose the right realtor, visit our <a href="https://www.cainrealtygroup.com/blog/" target="_blank">blog</a> or watch the video from which this post was based <a href="http://www.realtor.com/videos/video-hiring-a-realtor-better-look-beyond-this-one-thing/b47bcb02-24f9-479e-ac3a-349f2f3b9b3a" target="_blank">here</a>.
2016-08-30T12:00:00-07:002017-10-04T11:33:50-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1582Neighborhood Features that Drag Down Home ValueAn interesting <a href="http://www.realtor.com/videos/video-these-neighborhood-features-are-dragging-down-your-home-value/e32bcd24-2e0f-475b-a97b-3d6b78e37b7c?playlist_id=ec2ed8e8-16a1-46f8-a91e-c6753b0417e0" target="_blank">video</a> released by Realtor® summarizes the community features that can drag your home's value down.
For buyers: Are you looking to <a href="https://www.cainrealtygroup.com/buy/" target="_blank">buy a home</a>? If you want to own property whose value appreciates over time, avoid looking at homes in communities where these features can be found.
For sellers: Are these community features found near your home? It might be a good idea to <a href="https://www.cainrealtygroup.com/sell/pricing-your-home/" target="_blank">ask your agent</a> to help you with coming up with a price that would coax buyers into buying the home. With a good price, it can't be all that bad, right?
Here are the neighborhood features that drag your home's value down:
Shooting Range- A shooting range in the vicinity of your home can drag its value by 3.7%. Can you blame your buyers if they don't want to live in a home with gun shots disturbing the peace?
Power plant- A power plant in the neighborhood destroys the natural views-- a no-no for any family who wants to live in a picturesque setting. Some power plants emit odors that many find unpleasant. What's worse is the environmental hazard of living near a power plant. No wonder it can drag your home value by 5.7%.
Too many homes for rent- Owning a home with a high concentration of renters is like being a tenant yourself. It's a flea market, and people come and go-- something that buyers who want to settle for the long term do not want in their home setting. Might as well rent out your home as this can drag your home value by 13.8%.
Nearby Strip Club(s)- The Missus surely wouldn't want to live in a home where her hubby can easily go astray. Having strip clubs near your home cuts down its value by 14.7%. Either wait for the strip club to close before selling up... or find a buyer who would be all too happy to have convenient access to that sizzling entertainment option nearby.
Bad School- The typical American family considers the quality of education in the area where they are looking to buy a home, as this is a long-term invest that they give to their kids. Would anyone want to live in a home where their children would be forced to attend a poorly-ranked school? If you live near one, maybe it's time to get involved and insist on radical changes for the better--- otherwise, your home will sell by less than 22.2% its supposed worth.
Need help assessing your real home's worth? Get in touch with us today and we will help you determine how much we can sell your home, power plant nearby or not. For tips, you can also access the <a href="http://www.realtor.com/videos/video-these-neighborhood-features-are-dragging-down-your-home-value/e32bcd24-2e0f-475b-a97b-3d6b78e37b7c?playlist_id=ec2ed8e8-16a1-46f8-a91e-c6753b0417e0" target="_blank">video</a> from which this post was based by clicking on the link.
2016-08-18T07:00:00-07:002017-10-04T11:34:48-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1580Four Seller No-No'sSelling a home can be pretty exciting, as this is a phase in your life when you are getting ready to move on to bigger and better things. But don't let that excitement overwhelm you. Too much excitement and over-eagerness on your part can turn off prospective buyers. Here are four things you should never do as a seller to avoid turning off buyers who are looking at your home:
Tip 1: Don't let your curb look unkempt
The first thing a buyer sees in a home is its facade or curb. Remember, first impressions last. If they don't look what they see on the outside, how can you even expect them to look inside? If you are intent on selling your home, you might have to invest on landscaping the front yard, touching up your home's facade, and generally make your home look dreamy and inviting as soon as the buyers step out of their car for a showing.
Tip 2: Don't overwhelm the buyer with your presence
You might not find any fault in staying home during a showing, but experts recommend NOT doing so as buyers can easily be overwhelmed by the presence of sellers when they are looking at the home. Enjoy the afternoon at the mall or at a spa and let the buyers enjoy envisioning themselves living in your home as its new owners.
Tip 3: Don't leave your personal stuff for your buyers to see
It would also be wise to keep personal items (such as photos, lingerie, and your toothbrush!) from view. Think home magazine photos--- leave the furniture and decor for the "shoot", and take away the unessentials for a professional view. This way, your buyers won't feel awkward about seeing personal items of the owner while they try to envision your house as their new home filled with their personal items and furniture.
Tip 4: Don't let unflattering scents linger
Do you smoke? Do you let pets in the house? Have you fried fish for lunch and the buyers are coming over at 3 o' clock? Unpleasant smells shouldn't be part of your buyer's home showing experience, so work hard to remove these smells in your home before they come. A good practice is to open all windows and let the fresh air in. You can also use ground coffee to sanitize the smell in your home; just put them in small, attractive bowls and situate them in the living, dining, and kitchen areas, and your home will smell neutral in no time.
Need more tips for <a href="https://www.cainrealtygroup.com/sell/" target="_blank">selling your home</a>? Check out our <a href="https://www.cainrealtygroup.com/blog/" target="_blank">blog</a> or access the original article from which this post was based <a href="http://www.realtor.com/videos/4-biggest-mistakes-when-selling-a-home/05b0282a-a2c1-4156-889b-8d010fbe6643?playlist_id=ec2ed8e8-16a1-46f8-a91e-c6753b0417e0" target="_blank">here</a>.2016-08-16T08:01:00-07:002017-10-04T11:36:15-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1564How Good Schools Can Add Value to Your PropertyThe latest 2016 Schools and Housing <a href="http://www.realtytrac.com/news/home-prices-and-sales/2016-schools-and-housing-report/" target="_blank">Report</a> by ATTOM Data Solutions recently concluded that home values always get a boost whenever a school located nearby receives high ratings. The conclusion came from the report's observation that homes in ZIP codes where there are high-ranking elementary schools in the area are valued by 77% more as compared to homes in ZIP codes that do not have a high-ranking school nearby.
The premise of the report is simple: researchers looked for "good schools" that had an overall test score of at least 1/3 higher than the state average from last year's data. And out of 19,000 elementary schools across 4,435 ZIP codes, the research team found that there were 1,661 ZIP codes that satisfy the team's requirement for a "good school". In these ZIP codes, the average estimated home value is $427,402--- a value that is 77% higher than the average estimated home value of $241,096 in 2,774 ZIP codes without any "good school" in the area.
A home buyer's checklist often requires that their "dream home" be in a community where good schools are conveniently located nearby. And in lieu of this study's findings, most home buyers who factor in the school in their home purchase are right: there is a monetary benefit to choosing a home with the quality of education in a neighboring school in mind. In fact, the study found that homes located near a good school have gained $74,716 in value from the time of purchase-- resulting to a 32% ROI on the part of the home owner. In communities where there aren't "good schools" nearby, the increase in value was a measly $23,311 on average, with an ROI of 27.5%.
To access the <a href="http://www.realtytrac.com/news/home-prices-and-sales/2016-schools-and-housing-report/" target="_blank">original report</a> or read the executive summary, please click <a href="http://realtormag.realtor.org/daily-news/2016/08/08/good-schools-give-77-boost-home-values?om_rid=AARGmE&om_mid=_BXqMwsB9Q5wJqY&om_ntype=RMODaily" target="_blank">here</a>.
2016-08-09T08:00:00-07:002017-10-04T11:40:13-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1532Bad Home Selling Advice You Should NEVER BelieveAs soon as people learn that you are selling your home, most of them come flocking on your door step and offering "good advice" on how to do it right. And unsurprisingly, with the onslaught of a dozen or so well-meaning friends, some tips would come contradictory with each other. Here's one piece of professional advice you SHOULD take: Don't take everyone's advice! As much as your family and friends want to help you out in the best way they can, here are some BAD home selling advice you should never believe:
[Bad] Tip 1: Sell your home in the spring/summer
While it's true that spring and summer are the best times to look for a home, opening your listing only during a restricted period in a year will limit your prospective buyers to the people who look for a home only during those times. Home buyers actually look for a home 24/7/365 at home, at night, using their computer, so why not make a bigger prospective buyer's circle to increase your home's chances of getting sold?
[Bad] Tip 2: Wait for the market to heat up before selling (and it's always slow now, whatever time of year they say this to you)
Selling a home is like investing in stocks; waiting for the right moment could mean the moment has passed and its too late. A lot of factors affect how much you can sell your home; what's important is a firm decision from you that the time to sell is NOW-- the right buyer will come whatever the market condition is.
[Bad] Tip 3: Home staging is unnnecessary
While you can bank on having a buyer with a very imaginative mind, most people cannot actually conceptualize what a blank home would look like when it's furnished. It's better to stage a home or at least fix it up in order for buyers to appreciate how the home would look like when it's packed with furniture and decorated-- just like how it would look when people are living in it.
[Bad] Tip 4: Save your $$$ and use your phone for listing photos
Many people think that bright images encompassing the living room, bedroom, and kitchen would make buyers appreciate their listing, so professional photography is an unnecessary expense you can easily cancel out. WRONG! First impressions last, and buyers usually make first impressions of listings they are looking at through the featured images.
[Bad] Tip 5: Save on the commissions and sell by yourself. You don't need an agent
FSBO, or For Sale by Owner, can be enticing for home sellers in the sense that they can save a few thousand bucks. The question is, do you know the legal process and the documentation needed to sell a home? Are you a marketing professional who can handle peddling your home? Do you have a circle of buyers at hand, ready to view your home with just a text from you? No? Then DON'T TAKE THIS ADVICE. DONT.
While we appreciate the eagerness of relatives and friends to help, not taking their advice doesn't mean you love and appreciate them any less. Selling a home is a legal and intricate matter and you just can't afford not having <a href="https://www.cainrealtygroup.com/sell/" target="_blank">expert advice</a>. Listen to the professionals and you'll do just fine.
To read the original article from which this post was based, please click <a href="http://www.realtor.com/advice/sell/worst-home-selling-advice/" target="_blank">here</a>.
2016-07-27T05:21:00-07:002017-10-04T11:44:16-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1531How to Sell Your Home in 7 StepsWe all have different reasons for selling a home, but most sellers go through one universal process. If this is your first time selling your home, then it might be a good idea to familiarize yourself with the seven steps all sellers have to go through in order to sell their property:
1. Prepare to sell your house. Before creating an active listing for your property, you have to take care of important documentation first, such as new seller disclosure statements, form agreements, etc.
2. Hire a listing agent. Doing the second step will actually make the rest of the steps easier to handle. <a href="https://www.cainrealtygroup.com/meet-our-team/testimonials/" target="_blank">Hire a realtor</a> who can help you with marketing, pricing, negotiating, filling up forms, inspecting, etc. A local-based realtor is the best candidate because of his/her familiarity with your neighborhood.
3. Finalize your home price. Consider market conditions, interest rates, and the going prices of neighboring homes for you to come up with your home's list price. Add in some creativity, marketing, and negotiation skills in the mix, then you will finally determine how much you can get for your home. There is no formula for this one, so it's part luck, part strategy in order to get the best price for your home.
4. Invest in marketing. A good way to determine whether or not a listing agent is the best person to help you sell the home is to ask them for a proposed marketing plan. A creative marketing plan that doesn't go overboard budget-wise is the best plan, so make sure to strike the perfect balance between cost-efficiency and maximum reach.
5. Accept, decline, or counter. Upon receiving an offer for your home, you have to work closely with your agent to accept, decline, or make a counteroffer. The decision rests squarely on your shoulders, but here's a quick tip: sellers who are willing to negotiate get to sell their home faster.
6. Settlement and escrow. Accepting the offer of a buyer may feel like the best thing that's happened in the last few months, but it's not actually the end of the home selling process. Make yourself available for your agent more, as he/she may require more attention from you for settlements, escrows, inspections, etc.
7. Moving out. The first six steps in selling your home actually helps you with moving out. Cleaning your closets, basements, and the attic, for instance, allows you to pack and sort things in advance. Once the home is under contract, <a href="https://www.cainrealtygroup.com/meet-our-team/home-services-concierge/#category/39" target="_blank">hire professional help</a> to move your things.
As long as you have a realtor by your side, selling a home will be very easy. Just <a href="https://www.cainrealtygroup.com/meet-our-team/testimonials/" target="_blank">entrust your home to the right people</a>, and you'll be enjoying living in your new place very soon.
To access the complete home selling guide as published by Realtor®, please click <a href="http://www.realtor.com/advice/7-step-guide-selling-house/" target="_blank">here</a>.2016-07-25T09:35:00-07:002017-10-04T11:45:11-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1461Four Reasons Why Your Home Isn't Selling
An old, neglected "For Sale" sign at the front yard-- it's every home seller's nightmare. If your house has been on the market for months and there's no promising offer in sight, you simply can't help but worry. What if there IS something wrong with your house?
While some home sellers are simply paranoid with the length of time it takes to actually sell a home, there are certain factors that may be keeping you from selling your home that you should be aware of. This article will help you sort through mere paranoia and four actual reasons why your home isn't selling.
FACTS
Data gathering company Graphiq notes that a U.S. home stays in the market at an average of 73 days
There is a wide range of average days on market (ADOM), depending on the state; the average in Birimingham is 144 days while it's a mere 54 days in San Franciso.
ANTI-PARANOIA TIP: John Steele of Steel San Diego Homes recommends looking at your local market and comparing the ADOM of your home to that of a similar listing. If you're home is at 70 days but the ADOM of a nearby home is 120, then there's no need to worry. However, a reversal of those numbers means you gotta read the next section of this article!
First Reason: Ugly Photos for Your Online Listing
Patti Michels, a Realtor in Illinois, reiterates the importance of professional photographs as they “drastically improve the online presence of a listing and can immediately create more attention.” Since most buyers start looking for homes online (just like modern-day dating), excellent photography is key in giving the right impression. Alweays take flattering pictures of your home; if the photos look dull, hire a photographer. The $250-$500 expense is nothing if you can close the deal quickly anyway.
Second Reason: Not in Your Home's "Best Foot Forward"
Selling a home is much like going on dates-- you gotta look stunning online, and you have to be all dressed up and neat & tidy when you meet up. The problem is, most home sellers don't "dress up" the home to impress their prospective buyers. What you have to do is clean up, address the minor imperfections (such as your untended garden or the cracks on the driveway), and most of all, get the home professionally staged. Professional home staging can cost about $700-- a miniscule amount if it could help you close the deal more quickly!
Third Reason: You are Dominating the Home
While it's true that you still own the home, the moment you decide on putting the house on the market, you have to come to terms with the fact that you are heading out the door, literally and figuratively! Ask your realtor to check out the house and give suggestions on how to make the house more neutral for the general buying populace. After all, your red bedroom or gothic-inspired furniture might be too much for the regular home buyer! "Neutralize" the home and get away from the house more often to allow for peaceful showings. Don't make home buyers feel uncomfortable when checking out your house, no matter how hospitable or good-looking you are!
Fourth Reason (should we have listed this first?): Your home is P-R-I-C-E-Y
If the first three items have been addressed and there's still no buyer in sight, then this is the most likely reason: your home is expensive. Alex Bracke, a Virginia-based realtor, explains that the realtor nor the home owner has the ability to set the value of a home. He says "the market sets it". Simply put, you gotta sell the home at the right time if you want to make the most out of the home. However, if times are tough and you need to sell up quick, the only option is for you to reduce the price by 5-10%.
Selling a home will ultimately be easier if you are going to <a href="https://www.cainrealtygroup.com/meet-our-team/testimonials/" target="_blank">work with the right professionals</a>. Entrusting your home selling work to a professional would even mean worrying less about when the home gets to sell. If you need help selling your home, please reach out to us at (512) 522-4659 or <a href="https://www.cainrealtygroup.com/contact/">email us </a>today. We would be very happy to hear from you!
To access the original article, you may read Craig Donofrio's Realtor write-up <a href="http://www.realtor.com/advice/sell/why-home-wont-sell/" target="_blank">here</a>.2016-06-20T13:22:00-07:002017-10-04T11:53:01-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1454How to Get Multiple Offers for Your Home (and Sell Over Asking Price!)It's the ultimate dream of every home seller-- to get to sell their property for much more than what they asked for. And the icing on the cake is an all-out bidding war among several interested buyers, with the victor shelling out more than what you asked for in your listing. Getting multiple offers is more than just having good luck, perfect timing, or a perfect location. Strategy is key, and today we share with you the proven techniques of Realtors® on how they can instigate a multiple-bidding war:
Low Asking = High Closing
A particularly risky and aggressive move to ensure a bidding war on your home is to price the property at 5-10% lower than its going market rate. The low price will attract buyers to look into the home, giving them a chance to look it over and see how great of a deal it is. A steep introductory asking price will turn away home buyers on a budget, so this strategy, albeit seemingly counterproductive, is actually a recipe for bidding mayhem. With many interested buyers all agog with "the steal", they wouldn't mind adding a few hundreds (then thousands) into the offer to make sure they win. The result: a closing price that is more than the price you originally had in mind, thanks to aggressive bidding from multiple parties.
Simmer before Closing
It is very tempting to accept the first offer and immediately close the deal. However, if you want to get more out of your home through multiple bidding, you might have to hold back a bit and use the first offer to your advantage. By letting other interested buyers know about the offer you just received, you are launching a psychological strategy of bringing out the natural urge to compete, especially for something that is desirable (like your listing!)
Consider Selling to Investors
Expect to meet all kinds of people when selling a home, like the stubborn, zero-negotation type of buyer. Of course, having a buyer is way better than having none, but can't they all be a little more flexible and not insist on having a fixed-price offer? Instead of turning down your buyer just because they are sticking to their offer, why not instigate a little bidding war by offering the place to an investor? Investors won't live in the property but would happily purchase it (often in cash!) if they find that it would generate good revenue. Instigate a bidding war with an investor and your stubborn buyer might just change his mind for the better!
Invest on Renovations
Renovation might just be the key to selling your home for over its asking price in a neighborhood with sluggish sales. If many listings aren't selling in your area, you don't have to pull down your listing's price in order to get noticed by prospective buyers. Instead, get noticed by prospective buyers by renovating the property and adding amenities that home buyers like, such as attics, basements, and eco-friendly energy upgrades. It might cost you a few grand, but if you invest on renovations, you are more likely to get the price you want for the home you are selling.
Sell Novelty and History
Sometimes, all you need to entice buyers into purchasing your home is to sell its novelty or its history. Was it once the home of a famous rockstar? Does it have a secret garden? Have you found a treasure chest in your backyard? These things may not have monetary value but are attractive to home buyers nonetheless. Make sure to tell your agent about this and tell the tale when showing the home; it might just pay off with offers gone crazy, thanks to a piece of novelty or history!
Want to read Angela Colley's original article? Click <a href="http://www.realtor.com/advice/sell/sell-a-home-for-over-asking-price/" target="_blank">here</a>.2016-06-14T15:00:00-07:002017-10-04T11:53:54-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1394TUESDAY TIP: Working with a Real Estate Seller's AgentIt is natural for home owners to expect the highest return on investment when selling their home. In fact, many owners decide to open up their home for selling without the help of a real estate agent. But will skimping on the professional services and commission intended for a real estate professional be truly worth it?
This article is a direct-to-the-point guide on why every home seller needs a seller's agent. (Sorry guys, it's not a promotional article. It's just plain. cold. truth.)
Buyers prefer to deal with agents (because they have agents representing them)
Even if you choose to handle the sale of your home by yourself, you might find difficulty in transacting with prospective buyers because they will likely approach you through their own agent. Buyer's agents, in turn, are hesitant to deal with properties that are FSBO (for sale by owner) due to the possibility of encountering problems during the transaction process because of your lack of experience in completing the necessary paperwork and other necessary procedure. Also, you will eventually find out that having no seller's agent will keep your hands tied and make you preoccupied with tiring tasks such as maintaining your own internet listings, putting up signages, prepping up the home for showings, and entertaining prospective buyers in showings at the expense of your time.
You need help with documents
The submission of complete transaction documents is crucial in a smooth home-selling process. If you are unfamiliar with the documentation necessary for the sale of your home, you run the risk of committing a mistake with possible legal consequences. If you're a lawyer, perhaps you might be knowledgeable of the documentary requirements. However, most lawyers prefer to pass on the home selling work to their agents because they would prefer to focus on their work and leave the home selling to the most capable hands. Perhaps that's a smart move to follow, especially if you are not a lawyer with free time on his/her hands.
Your agent is your all-around assistant
The concept of an agent selling your home in your stead might sound too easy for the amount that you have to pay on commission, but that's the most common misconception home sellers have when underestimating the responsibilities of a seller's agent. Agents do more than simply showing up with buyers in your home for showings. From adding your listing into the MLS, marketing your home to fellow agents representing buyers, preparing your home for showings, entertaining prospective buyers, to taking care of documentation and escrow to ensure a complete home selling transaction without any legal complications on your part, you can say that indeed, your seller's agent is your all-around assistant worthy of the commission he so worked hard for.
Your agent is your ticket to the MLS
People who insist on selling their home by themselves (FSBO) are missing out on the most important opportunity of opening up their home to the largest prospective buyer market they could tap into-- including their home into the MLS. The MLS is a unique and localized service used by agents that allow seller's agents to offer their listings to buyer's agents, and vice-versa. If your home is not included in the MLS and you are solely dependent on your internet ad listings, you are not giving your home the maximum exposure that it needs. To tap into the MLS, you have to work with a seller's agent-- it's that simple and it's non-negotiable.
Some people simply find it hard to accept that they can't do everything by themselves. But why not take it as a blessing? Work with a seller's agent, and take many tasks off of your hands. Leave the home selling work to your agent and focus on things that matter like working on your career or raising your kids. If you are unsure on where to start, you can read up about <a href="https://www.cainrealtygroup.com/blog/category/selling-your-home/" target="_blank">selling your home</a>. Also, you may <a href="https://www.cainrealtygroup.com/sell/" target="_blank">schedule an appointment</a> with an agent and see where your first meeting will take you. Consultations are usually free (and committing to work with a seller's agent is often worth it!).2016-05-24T09:00:00-07:002017-10-04T12:06:09-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:13985 Big No-No’s When Selling a HomeEvery home seller wishes for nothing short of a smooth home-selling process. But sometimes, things just wouldn’t go as planned. But instead of blaming the stars for your home selling misfortune, it might be a good idea to do some reflection and make sure that you, the home seller, aren’t part of the problem. We bring you horror stories from <a href="http://www.realtor.com/advice/sell/5-home-sellers-from-hell/?iid=rdc_news_hp_carousel_theLatest" target="_blank">Realtors</a>® top agents wherein the home sellers committed home selling faux pas. We’re sure you won’t be silly enough to idolize these home sellers, right? Here are 5 no-no’s every home seller should avoid doing:
The seller refuses to sell you their home because they hate you (but they’d love to keep your EMD). Aside from showing bad character, refusing to sell a home to a buyer on the grounds of simply “not liking them at all” is irrational. What’s worse though is when the seller decides to keep their earnest money deposit even if they refused to push through with the deal. That’s rude and litigious. Do this and you will risk getting sued, bad-mouthed, and avoided by both agents and prospective buyers alike.
The seller refuses to clear personal memorabilia and forces their personal tastes on the prospective buyer. Home buyers don’t look for homes to live in because they want to live the way you live. So, when selling a home, it’s best to “neutralize” it by removing your gothic, eclectic, or rock star-inspired personal effects to help the buyer envision himself in the home with his things. TIP: If you are having problems envisioning your home without your décor, ask for your agent’s help. They are good at preparing homes for a showing, so be sure to listen to their advice.
The seller hires a seller’s agent AND peddles the home himself. Since you’re paying for the services of a hardworking pro, why not leave it in the hands of the agent to sell your home to a qualified buyer? Getting in the way of your agent means you doing double work, paying extra for a professional that you seem not to trust to begin with, and you risking to waste your precious time with buyers who might just back out on you because they aren’t committed and you have no way of knowing that to begin with because you aren’t a real estate agent. Whew. Hire a pro and sit back and relax. <a href="https://www.cainrealtygroup.com/sell/" target="_blank">We got this</a>.
The seller refuses to budge to close the deal; NOT EVEN FOR ONE CENTIMETER OR FOR $5. Buying a home is probably one of the biggest financial transactions we will ever undergo in our lifetime. Don’t you just love it when you seem to be in control of your finances when you get to buy items at a discount or haggle for a service and your provider concedes? This is the same thing when selling your home. You have to be ready for offers, repair requests, and other arrangements that the buyer might ask of you in order to push through with the deal. Of course, you still own the home and have the final say on things, but if you don’t want to concede with a $500 repair to ensure a sale of $500,000, then there’s something wrong with you.
The seller refuses to clean up for a showing and puts their agent in a bad light. A family member left the full-to-the-brim ashtray in plain sight. The grass wasn’t cut; it’s nearly 2 storeys high. The dogs (or cats) are everywhere and there’s poop all over the floor. And the worst thing is you refuse to leave the home during the scheduled showing and not appear apologetic about the appearance of the home at all. Do you seriously believe you can win the heart of a buyer when you don’t even want to bother with prepping up for a showing?
To access the original article and the complete stories featured in this post, you may visit the original publication of Realtor® <a href="http://www.realtor.com/advice/sell/5-home-sellers-from-hell/?iid=rdc_news_hp_carousel_theLatest" target="_blank">here</a>.2016-05-03T15:30:00-07:002017-10-04T12:30:27-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:13675 Inspection Problems Sellers Can AvoidMany home sellers are terrified of the home inspection phase, mainly because they know that a prospective buyer may back out when they learn about the issues the home has. But do you really have to wait ‘til it’s too late? Realtor.com® recommends fixing up the house and be a proactive seller in order to save the deal. Here are the five most common problems that sellers have to fix even before deciding to list their home:
1. Dank basement. Seepage into the basement can cause flooding. Even the tiniest cracks or a weak foundation wall can let groundwater in. Don’t be fooled just because there’s no puddle of water on the floor; if your basement smells of mold, then water IS COMING IN. Hire a basement waterproofing contractor to detect and fix leakage/moisture problems.
2. Faulty writing. The most common electrical problems are ungrounded fixtures, spliced wires not terminated in a proper electric box, receptacles wired backward, and improper breakers in the electric service panel, among others. Home inspector Reggie Marston recommends hiring an electrician to check the entire circuitry of the home and work on potential electrical issues.
3. Leaking roofs. A leaking roof is already a major turn off for home buyers—what more if they see the mold that results from a neglected hole in the roof? Make sure to seal any roof holes and replace boards or panels that have evident signs of water damage on them.
4. Amateur workmanship. DIY crafts is one thing, but DIY jobs in your home is a different world altogether. A poorly-installed toilet or kitchen sink can actually shoo away prospective buyers. If you’re a self-professed DIY-er, it’s best to take proper classes on carpentry or tile-laying works. Or, have a professional assess your work to make sure that your current works are usable and acceptable for home inspectors.
5. Poor maintenance. A neglected tiny roof leak or stain on the kitchen sink may not look like a big issue and can be taken care of “next time”, but multiply this by hundreds of next times over the years and you will find yourself in a poorly-maintained home. This can translate to thousands of dollars’ worth of repairs, so might as well skip that “next time” habit and work on it as soon as you take notice. Give special attention to water heaters, heating and AC systems, caulk tubs, showers, and stove exhaust fan filters, among other things.
To read the entire article published on Realtor.com, please click <a href="http://www.realtor.com/advice/sell/top-problems-found-during-a-home-inspection/">here</a>.2016-03-29T15:30:00-07:002017-10-03T11:22:12-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:135112 Features Buyers Don’t Want in a HomePotential buyers now have different opinions on what makes home more desirable. In a survey conducted by the <a href="https://www.nahb.org/" target="_blank">National Association of Home Builders</a> among 4,300 house hunters, these 12 features were determined to be the least desired by new-age home buyers in their new home:
Elevator (63%)
Pet washing station (54%)
Wine cellar (53%)
Golf course (53%)
Daycare center in the community (52%)
High density — smaller lots and attached or multifamily buildings (46%)
Cork flooring on the main level (45%)
Dual toilets in master bathroom (44%)
Two-story family room (43%)
Wet bar (42%)
Two-story entry foyer (40%)
Laminate countertop (40 percent)
To access the source of this post, you may read the complete National Association of Home Builders article at the Eye on Housing Blog <a href="http://eyeonhousing.org/2016/03/housing-preferences-across-generations-part-i/" target="_blank">here</a>.2016-03-14T07:50:00-07:002017-10-03T11:14:44-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1348Working on Home Improvement to Sell Your Home? Avoid these 5 ColorsEveryone loves a splash of color. Homeowners who are renovating their properties in the hopes of selling them should be aware of this fact. After all, what the eye perceives usually dictates on what a prospective buyer feels about the home. But not all colors are good for home decorating. This was proven by a recent survey conducted by Better Homes and Gardens.
Four-hundred (400) respondents were asked to take a quick survey to let the researcher know which colors homeowners are most and least likely to use in home decorating. The results of the survey are quite interesting; while there is a minor variation in the color choices for “least color to use in the home”, three colors stood out to be definite no-no’s:
Orange- "Too Loud"
Red- "Too Overpowering"
Green- "Too Institutional"
“Honorable mentions”
Black
Violet
A significant number of respondents have also mentioned black and violet as ultimate home color no-no’s. The image on the right panel is a compilation of <a href="http://www.uglyhousephotos.com" target="_blank">pictures</a> taken of rooms that display the very colors the survey mentioned.
Are you planning on selling your home very soon? Are you getting ready to prep up your home for showings? Then it might be a good idea to take note of these colors and avoid them. For a complete guide on colors that appeal (and don’t appeal) to buyers, you can read Melissa Tracey’s original post <a href="http://styledstagedsold.blogs.realtor.org/2016/02/29/3-surprising-paint-colors-home-owners-hate/?om_rid=AARGmE&om_mid=_BW1yaeB9LYApAI&om_ntype=RMODaily" target="_blank">here</a>.
2016-03-07T16:30:00-07:002020-01-08T10:43:41-07:00Cain Realty Grouptag:cainrealtygroup.com,2012-09-20:13285 Things that Make Your Home More Attractive to BuyersYour house doesn’t have to look like a model home or a mansion for it to be appreciated by prospective buyers. Sometimes, all you need are a few small tweaks that will make your home look more attractive without necessarily requiring a huge investment on your part. We bring you 5 tips on how you can easily make your home look more attractive to buyers.
Use Homey Welcome Pieces in the Foyer
The first thing a buyer will see inside your home is the foyer. How welcome does the buyer feel? A sense of coziness and warmth is important to exude to the buyer if you want them to envision living in your home in comfort. Otherwise, your home will just be one of many houses they will visit over the course of their house hunting journey.
Install Simple Water Features
It doesn’t have to be a large fountain in the central courtyard or a cascading waterfall with multi-color accent lights. A simple water feature by the entrance of your home or at a relaxing corner at the patio can appeal to more buyers. The sound of flowing water and the relaxing view that a water feature brings can easily convince any buyer to invest in a home that offers a notch higher of ultimate relaxation.
Work on Landscaping
Landscaping may appear expensive and unnecessary, but well-kept grounds actually <a href="https://www.cainrealtygroup.com/sell/adding-value/" target="_blank">add value to a home</a>. If you want to sell your home for more than its original cost when you first bought it, a surefire way to do it is to upgrade the surrounding greenery to something artistic and professionally-maintained. The ROI is truly worth the effort (Besides, you can easily hire people to do it for you if you don’t have the time).
Anything Granite
Everyone’s heart flops at the mere mention of the word “granite”. Granite countertops, granite floors… anything “granite” adds a sense of luxury to the home. While installing granite may cost a little extra, it is actually going to pay off well because most buyers would love to have a home with granite materials used in it that their guests can admire.
Install a Security System
Showing prospective buyers an installed security system in the home will actually convince them to choose your home over other options because they have one less task to worry about; securing their new home. Upgrading your home on the techie side also <a href="https://www.cainrealtygroup.com/sell/adding-value/" target="_blank">raises its value</a> by a few thousand dollars. People are willing to pay more for their safety and peace of mind!
For more valuable tips on how to make your home more attractive to buyers, you can <a href="https://www.cainrealtygroup.com/contact/" target="_blank">send The Cain team a message</a> or read our <a href="https://www.cainrealtygroup.com/blog/" target="_blank">blog</a>.2016-02-15T16:30:00-07:002017-10-04T13:27:46-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1303The “Do’s and Don’ts” List for Home Sellers Many home sellers <a href="https://www.cainrealtygroup.com/sell/showing-your-home/" target="_blank" style="line-height: 18px;">prepare for a home showing</a> by mowing the lawn and feverishly cleaning the house as if monster-mother-in-law is coming over. The belief of many home sellers that a clean home has better chances of getting sold may be partly true, but it’s not entirely the deal. Home sellers also have to do their part in the process by keeping themselves from becoming the very nuisance that would turn off potential buyers. From <a href="http://realtormag.realtor.org/daily-news/2016/01/26/proper-home-seller-etiquette?om_rid=AARGmE&om_mid=_BWp8y-B9KKd1Rp&om_ntype=RMODaily" target="_blank" style="line-height: 18px;">Realtor.com</a>, we bring you the “6 Do’s and Don’ts for Home Sellers.”
Don’t be a “Lingering Ghost” or Stalker
Nobody likes the feeling of being stalked or spied on. And if you linger in your home during an open house or showing, that’s exactly what you are making your potential buyer feel. That’s not cool. Nicholas Kensington of Scottsdale Real Estate recommends that home sellers "get out of the way so buyers can comfortably start picturing themselves living there,” which is critical when convincing buyers that they’ve found the right home.
Don’t Block Your Driveway
Sure, you have every right to park in your driveway because you still own the place, but it’s wiser to actually move your car out of the way so visitors can park more easily. Aside from the reasons given in tip number 1 about letting buyers picture themselves living there (which means your car is not included in the picture), you are also eliminating any inconvenience the buyers may feel that could lead to the showing going off to a bad start.
No Pets Allowed—During Showings, at least
If you are a certified animal lover and can’t simply live without pets, good for you! But it doesn’t mean you’re sharing the same sentiments as your prospective buyer. It’s best to bring out the pets with you and make sure you’ve cleaned up after them before the showing. Some people are allergic to pet hair and dander; some are “allergic” to persistent barking noises from dogs, too! Save the home ambiance you worked so hard on. Don’t let your loving pets ruin it.
Display Important Documents
Kensington says “leaving necessary documents in an easy-to-find spot isn’t just good for selling, it’s also good selling etiquette.” He recommends placing the home inspection report, home warranty, appraisal, monthly bill information, and proof of repairs (if there are any) at a convenient spot (kitchen table or coffee table at the living room) so prospective buyers can look them over during the showing.
Be a Good Host
Your buyers are still your visitors, even if you aren’t exactly present at your home while they were visiting. Cara Ameer of Coldwell Banker recommends preparing a small bowl with a few chilled bottles of water and some light refreshments for your buyers to enjoy. Not only will they see a good home, they will see its owner’s good heart, too!
It’s a Relationship—Meet Halfway
It’s a fact; sellers who are unwilling to negotiate often see their homes linger on the market. Real estate professional Josh Myler of The Agency recommends “focusing on your bottom line, as greed can lead to disaster.” He’s right. Would you prefer to sell your home in two months by giving a small discount or wait for years on end for “the one” who is willing to match your price?
If you think you need professional home selling help to avoid a home showing fiasco, <a href="https://www.cainrealtygroup.com/contact/" target="_blank">get in touch with Cain Realty Group</a> today. We can help you market your home and find the right buyer for you (and if you are especially extra super nice, we might help with mowing the lawn too!).
Source: “<a href="http://www.realtor.com/advice/sell/home-seller-etiquette-rules/" target="_blank">8 Unwritten Etiquette Rules Every Home Seller Should Know</a>,” realtor.com® (Jan. 25, 2016)
2016-01-28T16:30:00-07:002017-10-03T11:40:36-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:1295Top Tips for Sellers in 2016Are you looking into selling your home and getting your much-awaited return on investment this 2016? Jonathan Smoke, the chief economist for Realtor.com, says that “the 2016 housing market is forecasted to be mainly a seller’s market, filled with increasing home prices, relatively low inventory and fierce competition between buyers.” It looks like this year is, indeed, the perfect time to <a href="https://www.cainrealtygroup.com/sell/">sell real estate</a> in Austin. To help you make a successful sale out of your property in Austin, Realtor.com and Cain Realty Group brings you the Top Tips for Sellers in 2016:
Join the Prime-buying Season
In a Realtor.com report, researchers found that sellers who “list their homes during the prime spring and summer months benefit from a larger population of buyers and potential bidding wars.” Selling your home in Austin during the prime home buying season, which usually begins in April and reaches its peak in June, often results in higher listing prices and quicker closings. Therefore, it is wisest to <a href="https://www.cainrealtygroup.com/meet-our-team/vip-client-center/">seek an agent</a> before the season starts to help you take advantage of this wonderful selling opportunity and sell your home more quickly.
Increase Your Selling Price
Realtor.com expects that home prices all over the U.S. will rise by 3% annually, with some markets actually seeing a 10% increase this year alone. If you would like to sell your home at a higher price, then you have to find an agent who can <a href="https://www.cainrealtygroup.com/sell/pricing-your-home/">help you adequately price your home</a> and strategically offer it to buyers in your area. You can’t afford to play guessing games on how you will price your valuable investments—<a href="https://www.cainrealtygroup.com/meet-our-team/">work with a professional</a> who can give you the best price and highest possible return.
Offer Incentives to Buyers
Did you know that over 37% of sellers offered an incentive alongside being open with negotiating their selling price last year? This is a new trend in listing properties—throw something extra for a buyer and you are more likely to <a href="https://www.cainrealtygroup.com/sell/adding-value/">close a deal</a> compared to a seller who is not offering any incentive with their listing.
California “For Sale”
If you have property in The Golden State, then it might be a great idea to have that property listed this 2016, as the California market has been singled out to be the most favourable for real estate sellers this year. Job growth, rising home prices, and limited inventories are the reasons why the housing market in California is enjoying a nice boost, especially in the areas of Bakersfield, Fresno, Stockton-Lodi, and San Jose-Sunnyvale-Santa Clara.
For more details about the current trend in California, you may visit the news article originally published at <a href="http://news.move.com/2015-12-01-Realtor-com-2016-Housing-Forecast-Predicts-Healthy-Market-with-New-Construction-Driving-Highest-Level-of-Home-Sales-Since-2006" target="_blank">Move Inc.</a> For a complete buyers and seller’s top tips list for 2016, you may read the original <a href="http://realtormag.realtor.org/daily-news/2016/01/15/4-must-know-tips-for-buying-selling-in-2016?om_rid=AARGmE&om_mid=_BWmUG4B9J22tv8&om_ntype=RMODaily">Realtor.com</a> post here. If you need help with listing your home in Austin to take advantage of the promising year ahead, <a href="https://www.cainrealtygroup.com/contact/">get in touch with Cain Realty Group</a> today by clicking the link. We’d love to hear from you!2016-01-20T16:30:00-07:002017-10-03T10:19:12-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:12993 Trends Home Sellers Should Know this 20162016 is definitely a year for sellers, as industry insiders confirm with CNNMoney in a <a href="http://realtormag.realtor.org/daily-news/2015/12/29/3-trends-sellers-should-know-in-2016?om_rid=AARGmE&om_mid=_BWgunHB9JYx-iJ&om_ntype=RMODaily">recent interview</a>. If you have plans of selling your home, then you might as well be in the know of the three dominant real estate trends shared by the experts. Here is a summary of “2016 Dominant Real Estate Trends for Sellers” lifted from CNNMoney’s <a href="http://money.cnn.com/2015/12/24/news/economy/selling-home-housing-market/index.html?iid=Lead">original article</a>:
2016 will see market domination by sellers. The last time we’ve seen astronomical home prices was back in 2006. It seems, however, that the all-time highs are back 10 years later, as homes in cities with lucrative economies are selling at higher prices, sometimes even through cut-throat bidding wars. Many properties are being sold with closing prices exceeding the asking price, thanks to this rising trend. So, if you have properties in areas like San Francisco or Austin, this year may be the best year to <a href="https://www.cainrealtygroup.com/sell/">get your home listed</a>.
Mortgages will become more expensive. In the past few years, mortgage rates have been very affordable to the public. However, due to new policies by the Federal Reserve, affordability may become restricted as mortgage rates are expected to climb higher this year. Sellers may find that some prospective buyers will not be able to secure financing. The solution is to list the home as early as possible to help buyers take advantage of the current mortgage rates before they increase altogether.
Enjoy your tax benefits. Qualified ordinary taxpayers may enjoy exclusions on paying capital gains for the sale of personal residences. This is the largest tax break an ordinary individual may enjoy. Single taxpayers may exclude a maximum of $250,000 in gains from selling their home. Joint filers get to enjoy double that amount with $500,000.00 worth of exclusion.
Convinced that 2016 is THE year to get your home listed? Just send <a href="https://www.cainrealtygroup.com/contact/">Cain Realty Group a message</a> by clicking on the link. We would be happy to give you advice on how to sell your home in Austin with a “Bang!” this 2016.2015-12-29T16:30:00-07:002017-10-04T13:42:08-07:00Grace Theriottag:cainrealtygroup.com,2012-09-20:890New Study Shows Smoking Can Reduce Home's Resale Value <img src="https://assets.site-static.com/userfiles/412/image/Blog/nosmoking.jpg" width="200" height="250" alt="New Study Shows Smoking Can Reduce Home's Resale Vaue" title="New Study Shows Smoking Can Reduce Home's Resale Vaue" class="img_box_right" />
If you've ever wondered what factors might decrease your home's value, then you might want to check out this intriguing article from the Chicago Tribune. New studies have indicated that cigarette smoking can drastically decrease the value of your home by thousands of dollars. Furthermore, there are startling health issues that can be related to "Third-hand" smoke effects, or the noxious residue that is left behind on surfaces of the home.
We've personally experienced this issue on multiple homes, and witnessed how the smell of smoke can immediately affect buyer’s attitudes towards a home. Though there are many options for odor removal companies, rarely do they actually get rid of the entire odor.
Check out this interesting article on the effects of smoking on home values, and let us know if you've had any similar experiences.
<a href="http://www.chicagotribune.com/classified/realestate/sc-cons-0822-umberger-20130823,0,5436032.column" target="_blank" title="New Study Shows Smoking Can Reduce Home Value">Link to Smoking Can Affect Home's Resale Value by Chicago Tribune</a>2013-08-29T13:51:00-07:002013-08-29T14:57:30-07:00Maranda Creamer