Real Estate Information Archive

Good Monday Morning!

The numbers are in and for August 2015 the Eugene and Springfield area Real Estate market slowed slightly, but overall sales were good.  Here is what took place last month!

August Residential Highlights

August brought slightly cooler real estate activity to Lane County, but numbers remain ahead for the year overall. Pending sales (511) rose 20.8% ahead of the 423 offers accepted in August 2014, although 2.5% cooler than the 524 offers accepted last month in July 2015. Closed sales (451) fared similarly, besting last August’s 360 closings by 25.3% but cooling 16.8% from July 2015. New listings (615) were 7.0% ahead of the 575 new listings posted in August 2014, but 4.9% lower than the 647 new listings offered last month in July 2015.

Total market time decreased by one day in August to 79 days, and inventory increased to 3.2 months.

Year to Date Summary

Activity was up during the first eight months of this year compared to the same period last year. Pending sales (3,665) were up 30.0%, closed sales (3,189) were up 29.1%, and new listings (4,889) were up 9.7% this year compared to the first eight months of 2014.

Average and Median Sale Prices

Comparing 2015 to 2014 through August of each year, the average sale price rose 3.3% from $236,300 to $244,100. In the same comparison, the median sale price rose 4.0% from $211,500 to $220,000.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

755 Horn Lane

Price: $274,000     Beds: 4     Baths: 2     Sq Ft: 1868

Tranquil & spacious property! Beautifully landscaped 0.41 acre lot provides seclusion & great entertaining spaces. Remodeled home offers updated kitchen & baths, large living rm w/ gas fp, formal dining, large windows+skylight. Private master ste w/...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

Nationally, home sales are remaining strong and mortgage interest rates are holding steady and have actually declined slightly.  Locally, here in the Eugene and Springfield area the market remains strong as well.  This is especially true in the price ranges under $400,000.  Inventories of homes for sale also remain low in many price ranges and areas.  If you think that it is not the right time of year to sell your home, think again.  With a strong market and strong demand from home buyers, this market is still very attractive for being able to sell your home at a good value.  As long as we have these attractive mortgage interest rates and a low inventory of homes for buyers to choose from, it will remain a sellers market.  

If you are considering a home sale, don't wait until Spring.  The best opportunity for a sale just might be right now.  Please contact me if you are wanting to get an idea of what your home is worth on today's market.  Just a 20 minute visit to your home will give you all of the information that you need.

 

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

114 Hayden Bridge Way

Price: $249,900     Beds: 3     Baths: 2     Sq Ft: 1451

Pride of ownership shows. Over 1/4 of an acre offers oversize attached garage, detached garage/shop with workbench, long wide drive with room for RV parking, large fenced backyard with covered patio, plus timed sprinkler system. Great room with fire...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

One of the key parts of selling a home and getting top dollar for it is to have it look appealing to would be home buyers.  Home staging has been a trick that has worked well for me as a listing agent for years.  If you are considering selling your home, here a some ideas that will help you get top dollar in any market. This is an article from "Realty Times".

Getting ready to sell your home? It would be awesome to hire a home stager.

Home stagers are paid to furnish a home and help it look its best. What they create isn't so much the ideal living environment but rather the idealized one—one in which there are no awkward furniture arrangements, toys on the floor, crumbs on the countertops, or surprises in the toilet. It's not maintainable for most people everyday, but boy does it work when selling your home.

Stagers typically have furniture and accessories at their disposal—not to mention interior design degrees. But they can cost hundreds—even thousands—of dollars. Fortunately, you can achieve great results by using some of their tricks.

Clear it out and clean it up

The first step in preparing any home for sale is to clear it out and clean it up, getting rid of clutter and personal items and scrubbing it down.

"De-cluttering -- and having a pristine home from top to bottom -- are the no-brainers that can make your real estate look better than the house down the block," said Better Homes and Gardens. "Your home must be cleaner and less cluttered than it's ever been. You need to banish not just the day-to-day buildup (the mail, the shoes, last season's clothes, the dog hair), but also several years' accumulation."

Removing kids' toys, outdated furnishings, and excessive knickknacks can help. Whatever you can't sell or donate, box up and store at a friend or relative's house, or rent a storage unit for a couple of months. Or, if you can do so neatly and without compromising your garage space, stack them along a wall.

Depersonalize

A house that reflects your personal style from floor to ceiling and all over the walls (and every other surface) will have a hard time appealing to buyers.

"Prospective buyers won't be able to picture themselves in the house if they're surrounded by dozens of photos of your children and grandparents," said Bankrate.

Update the bathroom

Not everyone has the funds for a big bathroom renovation prior to selling. Smart changes can make a big difference.

"Avoid dated tile by painting. Bathrooms sell houses, but dated tile in a bathroom doesn't. A low-cost alternative to replacing the tile is to use paint," said HGTV. "First coat the tiles with a high-adhesion primer.

Next, brush on a special ceramic epoxy covering. For a fraction of the cost of new tile, you will have an up-to-date bathroom that brings in big bucks."

Pay attention to design details

After you've cleared away the clutter, you want to focus on creating simple, elegant designs. It's easier than it seems.

"For a visual impact on a table without a lot of fuss, remember a design basic: Groupings of odd numbers always do the trick! Three of a kind, like…hurricane jars, filled with something as simple as pinecones, makes a ridiculously easy and dynamic table scape," said Katie Jane Interiors.

Up your curb appeal

Make sure you make a great first impression, or you might not have an opportunity to make a second impression.

"You may have spent hours making sure the kitchen is clean, and doing so is worth the effort," sad Bob Vila. "But remember, the facade is the first part of your house a potential buyer will see. A little landscaping can go a long way. Strapped for time? Potted plants placed around the front door will add welcome charm to your entryway."

Pay attention to odors

We get used to our environment, so we might notice that musty smell or cat box aroma. Have your realtor or a trusted friend do a walk through and give you an honest assessment—not just of the way the house looks, but how it smells. Then take action to improve it. Start by steam cleaning the carpets and any upholstered pieces that need it.

Don't ignore the windows

Windows that are cloaked by outdated or heavy window coverings can negatively impact the image your home projects. Open the blinds and replace drapes with inexpensive versions that will let the light in and frame the views.

"Need to dress up a window but don't want to shell out big bucks for window treatments? Here's a trick: Use place mats," said HGTV. "First, apply a hook-and-loop fastener to the place mats and attach them in a row to a basic curtain rod. Now that the place mats are attached to the curtain rods, pin them together at the bottom, and you'll have a stylish valance that costs about $12."

Upgrade the Furniture

Giving your home a fresh, clean look with new furniture can make it feel more modern and appeal to more buyers. Don't have money for new stuff? "Try giving worn-out pieces a pick-me-up with new pillows or a slipcover," said Bob Vila.

While you're at it, take a look at your furniture layout too. "Your preferred setup may not be the most appealing one to would-be buyers. Where logical, opt for a social layout that makes it easy to envision the space being enjoyed among family and friends."

Give rooms a single purpose

That home office that doubles as a guest room is useful, but when it comes time to sell your home, pick one and run with it. "Potential buyers are confused by extra rooms that have a mishmash of uses," said HGTV.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

114 Hayden Bridge Way

Price: $259,900     Beds: 3     Baths: 2     Sq Ft: 1451

Pride of ownership shows. Over 1/4 of an acre offers oversize attached garage, detached garage/shop with workbench, long wide drive with room for RV parking, large fenced backyard with covered patio, plus timed sprinkler system. Great room with fire...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

Winging it on your own with a home purchase today is much harder than it has been in the past.  It has never been more important to seek out a Real Estate professional who is an expert in the mortgage world, home values by neighborhood and area, home inventories, market trends and is a great negotiator.  It's just as important to find a trusted Real Estate expert as it is to find the best lawyer or doctor.  It can make a huge difference during the purchase process and it can pay you huge dividends down the road.  Here is an article that was published in "Realty Times", that speaks to the importance of hiring a professional Real Estate expert for your home purchase.

Getting a purchase closed in today's market is complex. The real estate market has changed greatly from only a few years ago. Buyers face many more hurdles including stricter financing, low housing supplies, higher mortgage rates, and rising prices.

To negotiate today's challenges, you need a real estate sales professional to help you close the deal. A good real estate professional understands current market conditions. He or she has house-by-house neighborhood experience and can help you obtain the right home at the best price and terms.

Your agent can help you find a home quickly. Not only do real estate agents have access to the local multiple listing service, they also share knowledge of homes coming onto the market with their colleagues. Your real estate professional will tell others about your requirements for a home so they can also be on the lookout for you.

In fact, networking is one of the biggest industry advantages. Many homes are bought and sold without a sign ever going into the yard. But, for buyers to be shown the latest homes on the market, or to hear about homes about to come onto the market, there has to be a strong relationship between the buyer and the real estate professional.

If you want to be the buyer positioned to make first and best offers on the most desirable homes, make certain your agent knows you are committed. How do you show you're serious? There are several ways.

Get prequalified with a lender. Share your financial records so you know exactly how much home you can buy. Your agent won't go over your limit because it would be a waste of time to show you homes you can't afford to buy.

Work with only one agent. You can do this by signing a buyer's representation agreement, if it's customary in your area. If not, show your loyalty by telling other agents you may meet at open houses or socially that you are represented and give them your agent's name.

Don't shop for homes without your agent. If you want to look at open houses or builder homes, invite your agent to go along. If your agent can't go, make sure you register your agent's name with builder sales reps and open house sellers' agents.

Be loyal. Real estate professionals work primarily on commission. If the deal of the century is about to come on the market, who do you think your agent will tell first - the buyer with five other agents or the buyer who is loyal? If you're playing agents against each other thinking you'll get people to work for free and that you'll have your pick of homes to choose, you're wrong. Agents talk, and they'll find out they're working for the same buyer. If you want great service, show appreciation, confidence, and commitment.

Once you find the house you want, the work really begins. You'll have to navigate negotiations, loan approval, seller's disclosures, inspections with environmental and structural reports, and so on. From helping you make a reasonable offer, to providing for the discovery and disclosure of material facts, your agent can help protect your interests.

Buyers and sellers are natural adversaries. Agents must be skilled negotiators and problem solvers, as well as anticipate problems before they happen. Pride, ignorance, or stubbornness can get in the way of a fair deal for both sides.

Your agent will share your risk, and will make sure you go into any home purchase with your eyes wide open. Take advantage of the greatest homebuying resource available -- your own real estate agent.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

2685 Valley Forge Dr

Price: $524,900    Beds: 3    Baths: 2    ½ Baths: 1    Sq Ft: 2302

Anslow & DeGeneault 2015 Tour of Homes model home. Gas forced air 92% efficiency, exquisite single level, located in beautiful Hawthorne Estates. Easily entertain in Great Rm overlooking backyard. Escape to luxurious owner’s ste w/ tray ceilin...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

With the housing market improving in the Eugene and Springfield area, new home construction is taking off again after a long slow period. Right now there is a variety of new homes and new areas to choose from in a wide range of pricing.  If you are thinking about buying new instead of an existing house, here are some tips from "Realty Times" on purchasing a new home.  Please remember that the Galand Haas Team has over 20 years of new home purchase experience.  Our experience ranges from finding you the perfect new home to helping you find the right builder, right area and leading you through the construction process.  Please contact us if you want to look into the purchase or construction of a new home.

Buying a new home can be a truly exciting experience. Choosing your lot and floorplan, picking out all your fixtures, watching the progress from foundation to framing to finishes. Makes me want to run out and tour a model home right now!

Through all the excitement, though, there are a few realities that may be surprising for those buying new for the first time.

1. You probably won't be able to negotiate the price. New homes are not like resale, where there is the expectation of price negotiations back and forth. The price set by the builder is most likely the price you're going to pay. The exceptions are when there are just a few homes left and when there is standing inventory that needs to be sold.

"Look for builder inventory homes that have been on the market for 45 days or more," said Inman. "These are the homes in which a buyer might be able to get a good deal."

 

2.  But you may be able get some upgrades at no cost.

   More typical in a new-home community is getting some upgrades thrown in—things like window coverings or nicer flooring. Negotiating a few must-haves into your deal can help offset your costs. Some builders may also help with closing costs as an incentive to buy.

3. There might also be incentives to using the builder's in-house lender.

 Many builders have an in-house or preferred lender they work with to provide financing for buyers. There may be advantages to using this lender—better terms or a rate that's bought down. By law, the builder can't make you use their lender, so if you feel pressured, be sure to discuss with your real estate agent.

4. Use a REALTOR®.

 Speaking of Realtors…you can use your agent to buy a new home, and, in fact, you should.

"In general, builders' model homes are staffed by agents who work directly for and represent the builder. A buyer also needs to have a real estate agent who represents them and looks after their best interests," said Inman. "Keep in mind that most builders will require that the real estate agent accompany and register the buyer on their first visit to the builder's model home or community."

 

5. Your home will not look like the model.

 When you tour a model home, it's decked out with pretty walls and floors and lighting and countertops. The furniture is to scale and the fabrics are custom and the pictures are hung perfectly. It's pretty seductive. But the empty shell you buy won't look like this if you go with all the standard configurations and finishes. Be realistic about what you want, what you need, what you can afford, and how that translates to what you are seeing. The salesperson can point out which of the items you love in the model come standard and which are pricey upgrades.

6. The price of the home as advertised is not what you'll pay.

 Typically, it will take many tens of thousands of dollars in upgrades and options to get the home you buy to look like the model. This can be a rude awakening for buyers who are trying to stick to a strict budget. The good news is rolling some of those upgrades into the mortgage can make good financial sense, according to Money Crashers.

"Upgrading during the initial construction phase is generally cheaper than updating your home later on. For example, if you choose to upgrade from laminate flooring to hardwood, you'll pay the difference in material costs—but you won't necessarily have to pay extra for the installation itself, since your builder needs to install floors in the first place. The same goes for things like windows and bathroom features."

7. You'll be dealing with construction noise and traffic. For a while.

 The peaceful life you envision can be a reality, but probably not from the get-go. Depending on the community, it may take time to complete construction. Which means dealing with congestion and hassle for the time being. Amenities like pools, sport courts, and trails may also not be built out by the time you move in. Asking ahead of time about the construction schedule can help you manage expectations.

8. Not everything will work perfectly.

 In any house, there are bound to be issues. New homes are no different. Builder warranties will help.

"Warranties for newly built homes generally offer limited coverage on workmanship and materials relating to various components of the home, such as windows, heating, ventilation and air conditioning (HVAC), plumbing, and electrical systems for specific periods. Warranties also typically define how repairs will be made," said the FCC. "The duration of coverage varies depending on the component of the house. Most warranties on new construction cover siding and stucco, doors and trim, and drywall and paint during the first year. Coverage for HVAC, plumbing, and electrical systems is generally two years. Some builders provide coverage for up to 10 years for "major structural defects."

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

 

4215 Heins Ct

Price: $239,900     Beds: 3     Baths: 2     Sq Ft: 1489

Beautiful Brand New Home! Another great home from builder Gary Konold. Located in cul-de-sac w/ shopping only a 2 minute drive away! One level home offers laminate wood flrs, granite counters, vaulted & high ceilings & Great Room layout. Dining area...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

Nationally, home sales for August 2015 were up again and well above the same time period for 2014.  Home prices also continued to climb across the nation.  This trend continues to show a strong overall housing market this Summer. But, as I mentioned last week, beware!  The market you see today may not be here much longer.  If you are considering selling your home, don't miss out on this market.  This current opportunity to sell at top value may not be seen again for a few years.  

If you are thinking about selling, but just not sure how it all would work for you, contact me.  With a short 20 minute visit to your home, I can provide you with an analysis of your homes value and also talk to you about the process. There is not pressure to list.

If you would like to get a reliable idea of the price range your home should be in, then visit the best home value website in our market area, www.forhomesellers-nonSmartZip.com

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

4215 Heins Ct

Price: $239,900     Beds: 3     Baths: 2     Sq Ft: 1489

Beautiful Brand New Home! Another great home from builder Gary Konold. Located in cul-de-sac w/ shopping only a 2 minute drive away! One level home offers laminate wood flrs, granite counters, vaulted & high ceilings & Great Room layout. Dining area...
View this property >>


 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

Is there danger of another downturn in the national housing market?  It's hard to think that as strong as the national Real  Estate market has been lately that a downturn is on the horizon, but many signs indicate that this is just what may be ahead in the near future.  Much of the strength in the recent strong housing market has been created by historic low mortgage interest rates and not necessarily a large upturn in the economy.  With a strong housing market being rate dependant, any change in mortgage rates could have a serious effect on home sales.  Higher rates are on the horizon and the strength of the market will be reflected by how quickly and by how much rates jump.  

Home prices have increased significantly in most markets and this means affordability is now becoming an issue once again. It was announced last week that homeownership is at a 48 year low.  This means that fewer American's are able to achieve the American dream of homeownership.  The scary part of this is that this low level of ownership is happening at a time when mortgage rates have made home ownership more affordable.  This is truly a warning sign.  Another warning sign is the fact that the number of people renting homes is up sharply and at a rate higher that we have seen in this country in decades.  The cost of building a new home is also up and this is having an effect on the number of new homes that are currently hitting the market. The affordability of the new homes at are reaching the market is far less than it was a few years ago.

It is hard to say just exactly what all of this means, but my guess is that the market you see today is short lived.  Once mortgage interest rates begin to climb there will be fewer buyer due to the fact that home affordability will decline with higher home price and higher rates.  This means higher payments and buyers lose their ability to qualify for financing.  This means fewer sales and pressure back on home prices.  

As I have been saying for months, if you are a current homewner and you are thinking about selling your home, don't wait!  Right now just may be the best opportunity you have for a sale as we approach a time when values will most likely decline again.  It may be many years before home values approach current levels again.  If you are a buyer, the inventoiry of homes to choose from may be low and you may be purchasing at a high price, but mortgage rates are still low and this situation is clearly going to change.  Don't wait, get out there and start looking and find your home.  You don't want to be one of the buyers that looks back and can't believe they did not purchase when the had the chance to take advantage of our current low rates.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

4215 Heins Ct

Price: $239,900    Beds: 3    Baths: 2    Sq Ft: 1489

Beautiful Brand New Home! Another great home from builder Gary Konold. Located in cul-de-sac w/ shopping only a 2 minute drive away! One level home offers laminate wood flrs, granite counters, vaulted & high ceilings & Great Room layout. Dining area...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

Finding the perfect home to buy is only a part of the home purchase process.  Getting a mortgage loan is the second part and it can be complicated.  Not knowing the facts can cost you thousands up front and cost you far more down the stretch.  With mortgage loans, if it seems to good to be true, it probably is.  Do your research and don't fall for gimmicks or rates that seem to be much lower than the norm.  My suggestion is to find a qualified mortgage professional in your market area.  You can find them typically by asking your Real Estate agent, asking friends, etc.  Ask for references and talk to them.  This is serious business and you want to make sure that you get the best mortgage package available.  

Most of your "money" challenge rests, not with the purchase price, but with the cost of borrowing money to buy. Saving a few thousand on the purchase price, but jumping into a mortgage without any research may mean that apparent purchase savings disappear into massive accrued interest costs.

The cost of borrowing someone else's money to buy a house or condominium can add interest and other charges that result in you paying two or three times the original purchase price after a couple of decades of ownership.

Invest "brain time" learning about how to finance the purchase and you'll get pay-back in how much less you spend on borrowing the money.

For instance, if you want to buy real estate, have you taken time to…

• Understand how to present the best possible credit rating to qualify for the best rate and terms?
• Learn which mortgage terms, including amortization period, prepayment options, frequency of interest compounding, and many more, can cost you money and how to protect yourself before you sign on the dotted line?
• Discover how and why you should repay your mortgage loan as quickly as possible and save on years of interest payments?

Once again, talk of rising interest rates has us mesmerized. Whether you are selling to buy, purchasing a new build, or entering the real estate market for the first time, mortgage rates are a topic you've been following. Unfortunately, tracking rates alone won't teach you enough about how to save and how to protect all your interests when buying a home. While borrowing rates are important, they are one of many factors to consider when arranging a loan.

The internet offers many good sources of refinancing information mixed in with sources of too much bad advice, dated content, and devious promotion. Stick to solid, reputable sources, including government agencies and consumer associations, and remain skeptical of all you hear and read. Ask a lot of questions and take notes. The "exam" is your financial wellbeing.

Our tendency to click around popular sites, which may have sometimes undisclosed agendas, can make learning about mortgages harder, not easier. Jumping from site to site, blog to blog, author to author can be confusing. Learn the basics, including terminology, before you look for slick tricks. Master the language of mortgages, so you can comfortably discuss your options with mortgage and real estate salespeople.

One great educational opportunity is to learn from the mistakes and mishaps of others. The Consumer Financial Protection Bureau (CFPB), established in 2010, describes itself as "a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives."

Make a Complaint: If you've experienced difficulties with a financial product, they want to hear from you.

They'll forward your issue to the company involved and provide you with status updates.

Read about Complaints: Complaint Database.

CFPB also provides educational support to head-off problems and explain new disclosures: Know Before You Owe.

If you are looking for a mortgage professional in the Eugene/Springfield market area, contact me.  I have a list of the best mortgage professionals in our area.  I can save you both time and money.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

4215 Heins Ct

Price: $239,900    Beds: 3    Baths: 2    Sq Ft: 1489

Beautiful Brand New Home! Another great home from builder Gary Konold. Located in cul-de-sac w/ shopping only a 2 minute drive away! One level home offers  laminate wood flrs, granite counters...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

The Real Estate market in the Eugene and Springfield area continues to soar.  June was a record breaking month for home sales.  At the same time the inventory of homes continues to decline, making the Eugene and Springfield area a strong sellers market.  Most of this hot sales action continues to be in the lower and mid range areas.  Sales of upper end priced homes continue to be sluggish.  This is something that is more unique to Lane county as many parts of the country are seeing a hot market even in the upper price ranges.

June was another great month for closed sales in Lane County. The 536 closings outpaced last month (411) by 30.4% and last June (389) by 37.8%. It was the strongest June for closings in Lane County on the RMLSTM record—the previous June record of 508 was tallied in 2004.

Pending sales (557) outpaced last June’s 428 by 30.1% and edged out last month’s 552 accepted offers by 0.9%. New listings (680) similarly outpaced last June’s 641 by 6.1% and May 2015 (672) by 1.2%.

Inventory in Lane County decreased to 2.6 months in June. Total market time decreased to 73 days in the same period.

Year to Date Summary

Activity is up during the first six months of this year compared to the same period last year. Pending
 sales (2,695) are up 29.9%, closed sales (2,164) are up 28.0%, and new listings (3,594) are up 12.0% this year compared to the first six months of 2014.

Average and Median Sale Prices

Comparing 2015 to 2014 through June of each year, the average sale price rose 3.0% from $234,300 to $241,300. In the same comparison, the median sale price rose 4.3% from $210,000 to $219,000.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

2511 Garfield St
 

Price: $435,000     Beds: 3     Baths: 2    Half Baths: 1     Sq Ft: 3908

Spacious custom home w/ tree views! Beautiful 3 levels offer amazing treetop views from lg private master ste which occupies entire upper level. Grand KIT w/ very lg cook island, eat-bar, cherry cabs, corian counters & Wilsonart lam flrs that lead t...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

Over the past several weeks, I have been advising anyone who is considering selling their home to take action now while we have a strong sellers market.  Now, I would like to go over a few things that are important parts of being successful with selling your home.  You may notice that even during this strong market, there are homes that just sit there and don't sell.  There are reasons for that and to make sure that you do not experience this with your home sale, here are a few rules to live by as mentioned in a recent article in Realty Times.

You may think buyers will love your home because of your extraordinary taste in home furnishings or the incredible job you did with your home addition. Nope, it's not the décor or the vast add-on that gets them to commit, although they may help. There are three top reasons a buyer chooses to buy a home -- price, condition, and location.

Let's start with Price.

To choose the right asking price for your home, you need to know if your neighborhood is in a buyer's market or seller's market. A buyer's market is characterized by large inventories of six months' supply or higher, few buyers making offers, low offers, and many other concessions asked of sellers. A seller's market is characterized by low supply of six months on hand or less, heavy buyer traffic, multiple offers, and close to full price or full price offers.

Bankers, buyers' agents and buyers all have access to the same market information that your agent has given you. If you overprice for the current market, your potential buyers won't get to see your home, and even if they do, they won't get their loans approved.

 

Condition

Allow your real estate agent to help you market your home by putting it in the best condition possible. Buyer's pet peeves may be easy items to fix, but you don't want your house to go to the bottom of their list because you failed to paint, mow, replace the carpet, etc. Sometimes you have to invest a little money to make money.

Remember, today's buyers are more skeptical about buying a home, so creaky steps, dripping faucets, and outdated wallpaper just give buyers a reason to skip your home.

Location

You can't do much about your home's location, but you can make your home more attractive with lovely landscaping, fences to block out ugly views and sounds, a lower price and immaculate condition.

If you do have a great location, don't overprice. People expect to pay more for a great location next to schools, transportation, shopping and restaurants, but if you overprice, they will scrutinize the price and the condition.

It's hard not to be sentimental about the home you've lived in for years, but to buyers, your home is a commodity. Like you, they simply want to make a good deal on a home they love.

You'll quickly find out what real estate agents and their buyers think of your home. If you get a quick offer, you know you priced it right for the location, condition, and the current market.

If you don't get an offer within a couple of weeks, or whatever period is normal for your area, there's something wrong. Look at your price and condition and see if you can make your home a little more desirable.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

 

2060 McLean Blvd

Price: $305,000    Beds: 3    Baths: 2    Sq Ft: 2180

Beautiful and peaceful residence! From high up on a hill enjoy serene tree views. Sunlight floods inside through numerous large windows and 2 sliders. Relax next to the fireplace in the family room, take in the view from the living room, or outside ...
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AND HERE'S YOUR MONDAY MORNING COFFEE!!