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Beatrice Bloom, Princeton Real Estate Agent

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ZILLOW: MY HOUSE IS WORTH WHAT?

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Princeton Town Topics – Let’s Talk Real Estate – April 18, 2018

ZILLOW: MY HOUSE IS WORTH WHAT?

Whether you’re interested in buying or selling a home, you’ve probably done a little online sleuthing to find out average prices for similar homes in your area. One tool that’s become really popular for gathering home value estimates is Zillow, which uses an algorithm to “guesstimate” home values. The resulting estimates are called “Zestimates,” and while it may sound appealing, multiple studies have shown the tool itself is wildly inaccurate. In fact, there’s at least one lawsuit pending against the company that alleges the values it provides are extremely misleading – even damaging.

If you want to do a little online cost comparison, the Realtor.com website is a much better option. Even then, though, the site offer asking prices, which can be a lot different from actual final sales prices. The best option of all: Talk to an actual real estate agent with experience in the market you’re interested in. An agent is “on the ground” every day with access to all sorts of market info not available online. And that means they’re uniquely positioned to offer you the best guidance and most accurate values to get you the best price and the fastest closing – whether you’re a seller or a buyer.

 

WHEN SELECTING AN AGENT, EXPERIENCE COUNTS

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Princeton Town Topics – Let’s Talk Real Estate – April 11, 2018

WHEN SELECTING AN AGENT, EXPERIENCE COUNTS

If you’re selling your home, setting the “right” price can be difficult. Relying on an agent to research the local market is a wise idea – but even then, there are pitfalls. Determining a fair and accurate price for any home requires a deep understanding of the local and regional real estate markets at any given time. And since those markets are always changing, you need an agent with a lot of experience to interpret and even predict those shifts in order to make sure your home sells quickly and at the best possible price.

What’s more, the features buyers are most interested in are also in flux. Again, your agent’s experience is key. Agents with a lot of experience are skilled in assessing a home’s features, location and other variables in terms of the pool of buyers who are most likely to be interested in your home. Plus, they have the tools and know-how to effectively market your home’s best features so it compares favorably with competing homes.

In the end, an experienced agent can help your home sell faster – and for the best possible price. And as a seller, what more could you ask for?

 

DO YOU NEED A BIDDING WAR TO SELL YOUR HOME?

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Princeton Town Topics – Let’s Talk Real Estate – April 4, 2018

DO YOU NEED A BIDDING WAR TO SELL YOUR HOME?

There’s a lot of hype about bidding wars – after all, what’s not to love about having multiple buyers vying for your home? But the fact is, you don’t need a major bidding war to get a great price for your home. All you need is one great offer.

Unfortunately, a lot of sellers gauge the success of their listing by how many people they have competing for their home. If they only have a one or two offers during the first weekend or week of their sale, they think the sale is a flop. In reality, unless the market is super hot, having too many people submitting offers right off the bat could be a sign your home is priced too low.

A more realistic rule of thumb: Aim for one to three offers within the first 30 days after listing your home for sale. If you get more, fine. If you don’t get any reasonable offers, it’s a good sign you need to reconsider your pricing. Again, let your agent be your guide. A skilled agent can position your home so it attracts the right buyer – and all it takes is that one buyer to close the deal.

 

FLEXIBILITY IS KEY WHEN HOUSE HUNTING

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Princeton Town Topics – Let’s Talk Real Estate – March 28, 2018

FLEXIBILITY IS KEY WHEN HOUSE HUNTING

Having a wish list when you’re looking for a new home is a great way to help you focus on the features that are most important to you so your search can be more productive. But it’s equally important to be flexible, especially when it comes to the “big three”: price, location and condition. Why? Because being uncompromising about these three major factors can make it a lot more difficult to find your ideal home. Rarely will a home be “ideal” in all three of these areas. When you start out eliminating every home that isn’t in the perfect spot at the perfect price in pristine condition, you’re already limiting your options – significantly.

Starting out with an ideal is fine. In fact, it’s really important to discuss your ideals and “best-case scenarios” with your real estate agent so they know what you’re looking for. But it’s also good to keep an open mind. After all, a good agent knows the market, and they can come up with some acceptable compromises that can still help you hit most of your wants. The key is to have an open mind – and to trust your agent to keep your best interests first and foremost.

 

THE NOSE KNOWS: 3 SCENTS THAT COULD HELP SELL YOUR HOME

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Princeton Town Topics – Let’s Talk Real Estate – March 21, 2018

THE NOSE KNOWS: 3 SCENTS THAT COULD HELP SELL YOUR HOME

Pretty much everybody knows the trick of baking cookies just before an open house or showing. But for some people, that fresh-baked scent could make them think you’re trying to mask something unpleasant. Before dragging out the cookie sheets, try these scents instead to help your home smell fresh, clean and inviting:

  • Citrus: Stay away from blends, and instead, pick a single scent like lemon or orange for the greatest impact.
  • Herbs: Mint, sage, rosemary and lavender all have a clean, crisp scent that freshens the air and promotes “feel good” emotions.
  • Evergreen scents like pine, balsam or cedar are also mood-boosters (something all three of these suggestions have in common), plus they can usher in impressions of the outdoors. Stay away from holiday blends and opt for a pure essential oil or single-scent candle.

The best way to spread the scent you choose: Simmer pots, reed diffusers, oil plugins or candles (just don’t forget to put them out before the open house to avoid accidents; use a snuffer to prevent smoke).

And of course, before you use any scent, give your home a deep cleaning. Not only will it improve the way your home smells, but it’ll ensure your home looks its best too.

MAKE YOUR LISTING STAND OUT: FOCUS ON TRENDS

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Princeton Town Topics – Let’s Talk Real Estate – March 14, 2018

MAKE YOUR LISTING STAND OUT: FOCUS ON TRENDS

Photos, videos and 3D tours are all great tools to use to showcase your listing. But while these visual aids can definitely add a little glitz to your listing – and increase interest in your property – that doesn’t mean you can neglect the written description. In fact, your description can have a huge bearing on how many people your listing attracts, the types of buyers who see the listing, and even the price your property will bring.

The secret: Make sure your listing showcases trending features that are most likely to attract buyers. Sure, fireplaces and built-in bookcases are nice to have. But a recent survey by ZIllow found popular terms like “barn door” or “farmhouse sink” resulted in faster sales and higher prices.

The moral is this: If you’ve got it, flaunt it. And if you haven’t got any popular features in your home, you might consider adding one or two. After all, the cost of adding a barn door isn’t too steep – and it could pay off handsomely at your closing.

How can you tell which features buyers are looking for in your neighborhood? Simple: Ask your real estate agent. They know what’s selling (and what’s not).

Beatrice Bloom