Millennials are finally starting to enter the real estate market after delaying home purchases for several years. With a completely new client base looking for homes, it is time to start making your home more appealing to these young buyers.
Millennials are used to using high-tech gadgets every day, so they are going to desire these things in their new home. While there are several high-tech upgrades you can make on your home, these three will appeal the most to young homebuyers.
Keyless Entry: Security for the New Millennium
Keyless entry doors are becoming a popular way of keeping a home secure while adding that great “wow” factor. These keyless entry systems mean there’ll be no more fumbling for keys when all you want to do is get in the door. It may seem like something out of a sci-fi film, but several companies have mastered the art of keyless entry doors that you can use in your home today.
The door automatically locks when it is shut, and you will need the correct fingerprint to unlock the door. If you could show off a keyless entry system at your open house, you would immediately pique the interest of every young buyer interested in technology.
A Home Security System is a Great Practical Addition
A high-tech home security system will certainly make your home more appealing to young buyers, who may even be thinking about having children in the near future. No matter how safe your neighborhood is, everyone is always looking to feel more secure at home. Placing a few security cameras around the exterior of your home will allow you to know what is happening outside at all times, and buyers will love having that peace of mind.
Home Energy Monitor: For the Eco-Conscious Generation
Young people are extremely conscious of the environment, so they would love seeing a home energy monitor when shopping for a new home. A home energy monitor is able to track the energy use of every aspect of your home.
If you think your air conditioner is not running efficiently, a home energy monitor can tell you whether or not you’re right. Since young people know about the dangers of improper energy use, they will want to make the home as efficient as possible.
Millennials are slowly entering the real estate market, and although they are starting to look at homes, you’ll face a lot of competition from other homeowners looking to pass properties onto this new generation. These three upgrades will increase your home’s value and make it more appealing to Millennial buyers. For more information about selling your home, contact a trusted real estate professional today.
An open house is an opportunity for sellers to showcase their property to a potentially large number of interested buyers, and a great way to generate buzz. While you want to be as open and honest about the property as possible, you also want to make a good impression – and that means there are some things that you don’t want to say during an open house. Here are five things that you should definitely keep to yourself during your next open house.
This Is Where The Dog Did His Business
There is a good chance that the new owner of a home is going to do something about stained carpet or hardwood. At best, the honesty is providing too much information to the buyer. At worst, the honesty could turn a potential buyer off.
The Candle Is Covering Up For Last Night’s Fish Dinner
A buyer wants to get a true feel for how he or she would enjoy living in the house. If a candle is covering up an unsavory scent, it could cause the buyer to ask what else a seller may be hiding.
The Neighbors Tend To Be Noisy
What one person may consider excessive noise may not bother another person. The last thing that a seller wants to do is create the impression that a home is not a peaceful place for the buyer to spend their evenings and weekends in. Let buyers judge for themselves how noisy your neighbors are.
The Schools Around Here Aren’t Very Good
Having good schools in the area is a feature that boosts property values for everyone in the neighborhood, and mentioning that the schools are poor or anything less than the best could turn buyers off. If the schools aren’t great or aren’t up to the seller’s standards, it is best to not mention them at all. Again, let your buyers decide whether or not they like the schools.
There Isn’t Much To Do Around Here
Although most buyers know what kinds of attractions are nearby, there is no reason to be negative about a house located in a more rural area. The concept of “boring” is subjective. If buyers are looking at your property, they have likely already researched the community – and they like it enough to come have a look at your house.
An open house is your opportunity to create a great impression. Don’t waste it by pointing out all of your home’s flaws. For more advice on how to sell your home, contact a local real estate professional today.
Do you remember when you were buying your first home?
You may have looked at dozens before you settled on the perfect home for your family to live and grow in. Perhaps another home came in a close second, but you ultimately settled on that house or apartment – the one you’re now selling.
Chances are you don’t remember anything much about most of the homes you viewed, and the things that stand out are the best (that bedroom with a fireplace!) or as bad as they can be (remember the sofa placed over the cigarette burn in the carpet?).
When you’re staging your own home and giving tours to prospective buyers, it’s important to give them something to remember, and saving the best for last is one way to do it.
First In, First Out
When it comes to memories, older isn’t necessarily better.
In fact, research shows that the brain clears out older memories to make room for new ones. That’s why what you did today is fresh in your mind, but things get hazy when you think about last week or try to remember life as a child.
If you show off the best rooms in the house toward the end of the tour, it will stick in the buyer’s mind after she leaves.
Just like you make sure the first impression is good – this is known as ‘curb appeal’ – you’ll want to end on a high note. This helps sell your home faster.
Doorway To The Mind
Entering a new room causes you to forget why you’re there in the first place. Researcher Gabriel Radvansky from Notre Dame completed a year-long study about this phenomenon, which is also known as ‘event boundaries.’ In essence, your brain compartmentalizes data to a specific location.
When you’re indoors, the walls around you literally become mental boundaries. As soon as you step through a doorway, you forget that you meant to put the phone back on the hook. For home buyers, every new doorway acts as an event boundary.
If you put the bedroom with the fireplace or the outdoor jacuzzi in the first half of your tour, buyers will walk through a lot of doorways after seeing some of the best parts of your home.
Every doorway is an opportunity for their brains to forget something that might help you when it comes to getting the sale closed. Put fewer doorways between the strongest architectural or design features and the end of the tour to make the biggest impact.
If you have further questions about staging, contact your real estate agent today for advice and strategies.
Irritating any potential buyers is the last thing you want to do when selling a house because it is can be a challenging and sometimes lengthy process.
The buyer is going to have a wide array of options when deciding on a new home, so they have no problem going somewhere else if they see something they do not like.
While there are a plethora of ways for a seller to irritate a potential home buyer, these are the four most common – and most costly.
Pricing The House Too High
There is nothing worse you can do when trying to sell a home than pricing it too high. While you may think that it gives you room for the buyer to counter at a lower price, they are more likely to simply ignore your listing entirely even if the home is a good fit. The best way to keep this from happening is by pricing your home in the same price range as the rest of the neighborhood.
Not Making Home Repairs
Buyers are going to be immediately turned off if they walk into the home and see a state of disrepair. Not taking the time to make small visible fixes is going to make the buyer think that the house is going to have major issues. Taking the time to get the house in great shape before showing it at an open house will ensure the house sells faster.
Leaving Your Stuff Everywhere
Buyers want to feel like they could move into the house as soon as the purchase is finalized. They also want to envision themselves living in the home, and this is almost impossible if you have your personal items throughout the house. This is more difficult to pull off when selling a home you are currently living in, but it is best to stage the home with as few personal items as possible.
Getting Emotionally Invested
While you may have lived in your house for years, you have to drop any emotional attachment to the home the second it hits the market. You can’t take it personally if the buyer wants to make a major change to the house after the purchase. Their idea of a perfect home is not going to be the same as yours. The best way to make sure you do not insult the buyer when they bring up their vision of the home is by letting your agent handle home viewings. If you have become too attached to your home or are guilty of any of the other three things on this list, then you make sure they are corrected before your next open house.
The work of a real estate agent can make or break how a prospective buyer feels about the property. Now that it’s time to sell your home, you want to find the right agent to market it.
How do you find someone you can trust who will make you feel confident they can sell your home quickly for the best price possible? Here are the questions you should be asking.
Are They Licensed?
This one is the easy one. You should be working with a member of the National Association of Realtors®. It is also important that you check whether they have any complaints on record about their practices.
You can check with your state’s real estate department as well.
Are They Successful?
A successful real estate agent is more than the number of sales they have completed. You should also find out the average difference between listing and selling prices on their most recent sales.
If an agent is closing deals at far below the original asking price consistently, that might be a red flag.
How Busy Are They?
Make sure you ask in advance how often the agent will contact you and how they will keep you informed of potential buyers. If you’re going to be working with one of their associates at times, you should know.
How Familiar Are They With Your Neighborhood?
A real estate agent is not just marketing your home – they’re marketing your entire community. If they have closed nearby sales before, they are familiar with the selling points of the neighborhood as well as the right price range for properties similar to yours.
How Much Commission Do They Expect?
Normally you will pay the agent about 6 percent of the sale price. If you find one that offers their services for a low percentage, you should know why. Are they just trying to stay competitive? Or do they expect you to do a large share of the marketing yourself?
Do They Have A Plan?
The real estate agent should be able to tell you exactly which marketing techniques they would use for your home and how they plan to promote the listing. They should come to the table with ideas from the very beginning.
Now that you have a clearer idea of the basics, use the internet to find trusted real estate agents in your area. Then pick up the phone and begin your journey toward becoming a successful home seller today.
Before you make a major structural change to your property, it is important to consider how this will affect your resale value. While there are many steps that you can take to improve your property, the addition of a detached garage may be beneficial to you and may drastically improve your resale price when you are ready to sell.
You can contact a trusted real estate agent today to obtain customized information about how the addition of a detached garage may affect your property’s value.
Adding Square Footage to Your Home
As a property owner, you may be well aware that one of the most common ways the value of your property is determined is by the market rate for price per square foot of homes in the area.
While factors such as age of the property, condition of the property and amenities in the neighborhood may affect whether your property’s price per square foot is above or below market average, the kind of the improvements has a direct impact on property value.
While adding a detached garage adds overall square footage to the property, it generally won’t be considered at the same rate as finished square footage within the home. However, outbuilding improvements do add value to your property and a real estate agent can help you to determine the true financial gain you may experience through this addition.
Increasing Appeal to Potential Buyers
Properties that are more appealing to potential buyers may sell for a higher price. When you add a detached garage to your property, you may be adding style and function to the property by adding a place to park vehicles and to store items like seasonal items and lawn equipment. You can also create a detached garage with a workshop or another functional area for added appeal.
Transforming Existing Space
Some home additions will add a detached garage to a property because a garage was never constructed on the property, but others will be added because the homeowner wants to transform the existing garage attached to the home into a more functional area. For example, a new home addition, may turn the existing garage into a living room, a bedroom or another functional area. With the addition of a detached garage, the property owner can retain the benefits of having a garage while also improving the functional use of the main area of the home.
The addition of a detached garage can benefit you and your family in a number of ways, and it can also improve the resale value of your home. By speaking with a real estate agent, you can get a better idea about how this addition will affect your property.
As exciting as selling a home should be, there’s no denying that it can be a stressful endeavor for those interested in making their home an attractive option for buyers. Nowhere is this more evident than for homeowners who were former smokers.
While it’s truly commendable to quit smoking, removing the smell of smoke from a home can feel like an impossible task. With that in mind, here are some of the most effective ways to make smoke smell and paint stain removal as effortless as possible.
Make Preparations Beforehand
Cigarette smoke has a nasty habit of permeating through every facet of a home. As such, it can be difficult to pinpoint the areas that are most problematic. Before starting the cleaning process, open all of the doors and windows throughout the home to help it air out naturally.
It’s also worth mentioning that many longtime smokers have difficulty picking up the odor that they’ve become accustomed to. If you know someone that isn’t a smoker, invite them over and ask them to point out any problem areas.
Treat Your Home Like a Quarantine Zone
Unfortunately, a home that is infested with smoke can create a cyclical effect on anything that is washed. If you want your clothing and linens to stop carrying the smell, you’ll need an alternative to your own washer and dryer. Of course, you’ll also need to keep them away from your home for the remaining duration of the cleaning process.
In particular, carpets have a habit of retaining smoke smells long after you’ve quit. With this in mind, taking care of any carpets or curtains in your home should be a top priority.
Account For Deeper Problems
Once you’ve given your home a steam cleaning treatment and washed all of the stained surfaces down with a mixture of water and bleach, you may still discover that some areas of the house are still affected. At this point, it’s time to simply accept your losses and purchase a replacement. A nice smelling home will be far more attractive to buyers than one that inexplicably reeks of smoke.
If you’re unsure of any further steps to take in preparing your home for a sale, don’t hesitate to contact your real estate agent and request more information. Your home deserves a high price for all of the effort you’ve put into cleaning it.
The economy and the real estate market are finally on the upswing after the ‘Great Recession’. However, in many locations, the housing market is still slow.
Homeowners who want their houses to sell need to do some homework before putting up that For Sale sign. Here are several tips to help your house sell sooner rather than later.
The Price Is Right
A house priced too high will languish on the market. Before listing your home for sale, make sure the price is appropriate.
Look at the prices of recently sold homes in your neighborhood. Focus on houses of similar size and condition to yours to find the best comparable sales prices.
Also, it may be worth having your home appraised to ensure that the list price is close to the actual market value.
Lean, Mean, Cleaning Machine
Prospective buyers want to see a pristine house. Make your home look perfect, inside and out, before you list it. Stop putting off all those repairs. Replace the cracked window, and fix that leaky faucet!
Curb appeal is a huge selling point. Your yard should be neatly trimmed and completely clean. It’s time to put away the garden gnome. Consider hiring a professional landscaper to make your house stand out from the crowd.
The inside of your house should be spotless. Research home staging or hire a professional stager to prepare your home for listing. At the very least, de-clutter your house and remove all personal items. Prospective buyers want to imagine a house as their home, not yours.
Strike A Pose
Photographs accompanying a MLS listing are typically a buyer’s first introduction to a house. Buyers often dismiss a house based on photographs alone, so make sure that yours are the best quality possible. Hire a professional photographer. Make sure your house is clean and well-staged. More photos are always better than less.
A good real estate agent is key to selling your house quickly. Find an agent experienced in selling homes in your community and who has a well-organized marketing plan. A good agent will not only give you the above tips, but will also customize them to the demands of your neighborhood.
Pick up the phone today and chat with a real estate agent for more information while weeding the flower bed or de-cluttering the den. Soon enough, you’ll be loading boxes onto a moving van as you journey onto your next adventure.
If you’re thinking about putting the house on the market, or are simply curious about its value in the current economic atmosphere, it’s essential to get an honest assessment of its value. An overly inflated figure won’t hold up and will only turn potential buyers away.
It’s best to get a fair assessment in order to ask a reasonable price or avoid over-extending oneself when it comes to taking out a home equity loan. Consider these three key tips to get a true assessment of a home’s value.
Identify Positive Features About The Home And Property
When seeking an appraisal for a home, it’s important to look at the big picture. While the neighborhood and specific location are important, as well as the size and condition of the home, it’s also essential to tally up any improvements or upgrades. Any recent renovations are a plus that are sure to give a boost to a home’s value. Outbuildings and swimming pools add more positives that will increase the initial value of a home. The most important thing any homeowner can do is to stay on top of repairs and give the property a facelift periodically to keep things fresh. This will be taken into consideration during an appraisal.
Pay Attention To The Competition
Whether homeowners try to estimate their home’s value on their own or bring in the professionals, it’s important to pay attention to the surrounding real estate. Take a close look at other properties in the area and their price tags when they come up for sale. It’s especially helpful to look at properties that compare in size and condition. From that point, the most expensive and least expensive homes should be tallied as well, providing a price range for the concerned individual’s home.
Think About Present Circumstances
Be sure to consider if the area is in a recession or showing a period of strong economic growth. If a home is located in an area that is booming, this will inflate the value of the home. It is all part of the law of supply and demand. When buyers are coming in droves, home sales will be ripe for the picking and homeowners can ask a higher price. However, if the population is dwindling and people are migrating elsewhere because job opportunities have fallen, there is a much greater chance that the home’s value will decrease. For those who want to sell, the best bet is to strike when the iron is hot and put the house on the market during a period of economic strength. If the economy is failing, it may be necessary to wait or cut ones’ losses.
Act Now To Learn More
There is no better time than the present to contact a name you can trust in real estate. Discover all the ins and outs of assessing your home’s value, discuss your options, and find out ways to boost your property’s potential as you seek a reliable assessment.
One of the most significant factors home buyers and sellers focus on when buying real estate is the negotiated sales price in the purchase contract. While the sales price is undeniably important, the fact is that other terms in the sales contract may have more far-reaching and significant effects on the transaction.
In fact, with a closer look at some of the most important terms, you will see why you and your agent should actively negotiate for improved terms rather than a lower sales price.
Some buyers and sellers will haggle over a few thousand dollars in the sales price without paying attention to the closing costs, but the fact is that the closing costs for a typical transaction may cost the buyer between two to five percent of the sales price on average. A sales contract may be negotiated so that the seller assumes some or most of the closing costs, and this can result in considerable savings the buyer. Likewise, when a contract is negotiated in the interest of the seller, the seller may save thousands of dollars at closing if the contract states that the buyer is responsible for these costs.
The Appraised Value
In an ideal world, a home would appraise for the contracted sales price, but this is not always the case. A sales contract may be written with terms that allow for the sales price to be renegotiated after the appraised value is confirmed, and this may benefit both parties. Some sales contracts, however, state that the negotiated sales price is final regardless of the appraised value.
The Property Inspection
Many home buyers opt to obtain a property inspection to determine if there are hidden issues with the property structure, foundation, roof, air quality and other components. Some inspections reveal that a home is in fairly good condition, but others may reveal that a property needs thousands or even tens of thousands of dollars worth of repairs. Some sales contracts may be written so that the buyer may back out of a contract within a certain period of time after receiving the property inspection report or so that the terms of the sales contract may be re-negotiated once the property inspection report has been completed.
A real estate transaction may extend for several weeks or even months while the buyer contracts with a lender, an appraiser, a property inspector and other third parties. During this period of time, many events can occur that may adjust the interest level or even the ability of the buyer and seller to fulfill the contract. Some sales contracts are written so that the buyer may opt out of the contract within a certain period of time with minimal expense and regardless of other factors related to the appraisal and inspection.
Generally, there are standard terms found in many real estate sales contracts, but these terms can be adjusted by either party to benefit buyers or sellers. Those who are preparing to buy or sell property should actively communicate their needs and desires with their real estate agent so that the contract may be negotiated with terms most favorable to their needs.