Seller Tips

NO ONE BUYS A HOUSE AT CHRISTMAS, RIGHT?

Princeton Town Topics – Let’s Talk Real Estate – December 4, 2009

NO ONE BUYS A HOUSE AT CHRISTMAS, RIGHT?

Conventional wisdom says that the holiday season is the worst time to try to sell (or buy) a home. Conventional wisdom is wrong in the case of real estate. While home sales usually slow down from November until January, they certainly do not stop. During this period it is not at all unusual for a half-million homes to be sold nationwide.

Who buys homes during this period? Buyers, not lookers! These buyers tend to be without children and looking to “move up”. This is especially good news for sellers of high-end market homes. Buyers during this period include those who just sold their own homes, job transferees, physicians who need to relocate, those who have no other time to look for a new home, those who are not involved in the holiday rush, and those who are simply in a holiday mood!

Another reason to list your home this holiday season is the possibility of future changes in the real estate market. While mortgage interest rates are still hovering at record lows, who knows about next year? The most special holiday gift for the whole family could be the deed to a new home.

Princeton Town Topics – Let’s Talk Real Estate – November 18, 2009

THE KEY TO SELLING YOUR HOME

Everyone wants to get the maximum amount possible when they sell their home, but many homes sit on the market because they are overpriced. One real estate axiom states, “the true monetary value of real estate is what someone is actually willing to pay for it”.

How can sellers arrive at the maximum “fair” price that buyers are willing to pay? Buyers (and appraisers) make their decision based on comparisons. While shopping for a home, buyers will visit many similar homes in their price range and measure the features of each one against the price. They decide which house offers them the maximum value for the price. Buyers do not expect a home to be a “steal” or dramatically under-priced, but they do expect it to be a fair value.

Sellers must determine the value that their home offers in order to arrive at the right price. Your Realtor can help you determine your price by doing a comparative marketing analysis with other homes in your neighborhood and advise you what buyers should be willing to pay for your home, but the asking price is set by the seller.

https://www.realestate-princeton.com/1272/

WILL REMODELING PAY OFF?

Princeton Town Topics – Let’s Talk Real Estate – October 28, 2009

WILL REMODELING PAY OFF?

Many homeowners make improvements hoping that the expense will be offset by an increase in the market value of the home. Although features such as an upgraded kitchen and a new roof add value, the cost may not be fully recouped when the home sells. Adding a new bathroom can cost between $20,000 and $25,000, but the homeowner can only expect to get back about 86% of the money invested. A major kitchen remodel costs between $40,000 and $50,000, but would only return an estimated 79.4%.

Instead of pouring money into expensive renovation projects prior to selling your home, concentrate on cosmetic enhancements. Most home shoppers are attracted to well-groomed landscaping, which can be achieved with an investment of around $500 for an average return of 266%. Spending about $300 to clean and de-clutter the interior can increase the selling price by more than $2,000. Repainting the walls in light, neutral colors will yield an approximate 700% on your investment. Making plumbing or electrical repairs will also allow you to increase the sale price.

Moderately priced home improvements that are made immediately before a home’s sale actually yield the highest returns.

HOME REMODELING TIPS

Princeton Town Topics – Let’s Talk Real Estate – October 7, 2009

HOME REMODELING TIPS

The rapidly growing population of seniors – particularly the many Baby Boomers who are now approaching retirement age – is having a major impact on the home remodeling field.

Many of those senior homeowners have opted to stay in their long established family home in retirement or acquire a new home in their community, instead of relocating to a new Sunbelt community home. However, most of these homes have not been prepared for safe and independent living.

There are a number of important modifications that can be made ahead of time that will support ongoing needs. The master bedroom and bath should be on the first floor with door handles that are lever-style. There should be a low or no-threshold entrance to the home with an overhang and non-slip flooring at the main entryway. Bright lighting should be installed in all areas of the home and when possible, there should be an open floor plan, especially in the kitchen-dining area. Handrails should be installed at all steps. As for the landscaping, it should be low-maintenance.

Instead of looking institutional these changes can be seamlessly implemented into the existing look of the house so most visitors will not even know their ultimate purpose.

ACTIVE MARKETING

Princeton Town Topics – Let’s Talk Real Estate – September 9, 2009

ACTIVE MARKETING

It takes a lot more than a “For Sale” sign in the front yard, a Multiple Listing entry, and an occasional ad in the classifieds to get a listing sold. Be sure to discuss the details of the marketing plan with the companies and Realtors you interview about selling your home.

Realtors who provide high quality service will usually have a written marketing plan tailored to fit your home and your individual needs. A good marketing plan begins with pricing the home well, and will involve exposing your home to as many real estate professionals and qualified buyers as possible. The agent’s job is to get buyers through your front door; your job is to ensure that the buyers like what they see. Top agents are very active in finding prospective buyers and in coaching sellers about how to enhance their home’s presentation. There are differences in the marketing approaches among companies and individual agents, so ask for a written plan, including internet exposure, to give you a clear idea of what you can expect of your agent.

THE MLS OF THE FUTURE

Princeton Town Topics – Let’s Talk Real Estate – September 2, 2009

THE MLS OF THE FUTURE

Multiple Listing Service (MLS) organizations may soon change dramatically. These local and regional groups, where information about currently available properties is cooperatively pooled into one source, have productively served consumers and real estate professionals since the late 1800s. Most MLS groups have been owned and operated by local Boards of Realtors, affiliated with the National Association of Realtors.

Since the computer and internet revolution in the 1980s, the MLS services have become more widely available. Today, an increasing number of prospective home buyers access computer-generated MLS property information as their first effort in finding a needed home. When they find one or several homes that seem to meet their requirements, they often call in a Realtor to pursue their quest and negotiate the purchase transaction.

No longer restricted to local organizations, the MLS of the future will be vastly expanded in scope and services to the benefit of consumers and professionals alike, according to a National Association of Realtors report.

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