Daily News and Events
by Laura Jacobus
If you're putting your home on the market, better be sure you're ready to tell all - good and bad.
"The majority of lawsuits or claims that occur are as a result of buyers finding out about something that is wrong with their property after the close of escrow and coming to the belief that the seller knew but didn't tell them," says real estate attorney Peter Solecki of Winton & Larson, LLP.
Disclosure is vital. In one extreme case, it may have spared a seller from going to jail and even saved lives. The New York Times reported on a trial in the late eighties that found the seller of a home guilty for not disclosing to the buyers that the home's heater had malfunctioned. The buyers and one of their children were asphyxiated by fumes from a gas-fired heater used to de-ice the driveway of their home. Only their 4-year-old child survived. The seller was convicted of involuntary manslaughter.
This case is believed to be the first of its kind where a home-seller was held criminally liable for the sale of a home that had a fatal defect.
While certainly this isn't a typical scenario, it gives good reason to pay attention to the details that you're disclosing when selling your home. It's not worth it to leave off some important details just because you think the home won't sell or will sell for less money if you disclose any problems.
Reporting problems about your property prior to the sale of it can be done through various reporting mechanisms such as the Seller Disclosure Statement . But Solecki says some disclosure reporting statements are written in the present tense, which creates a reporting dilemma for some sellers.
Buyer Can Decide
"The seller will look at the Seller Disclosure Statement and say, 'Well, there was something wrong but it's not any more; therefore, I don't have to disclose it," Solecki says. He adds, "If [sellers] haven't disclosed it and it turns out to be a problem, then you have a potential significant issue, whereas if it's been disclosed, then the buyer can elect what to do with it."
Showing posts with label Home Seller. Show all posts
Showing posts with label Home Seller. Show all posts
Tuesday, October 20, 2009
Tuesday, October 13, 2009
Selling Your Beloved Home
by Laura Jacobus
We've heard that old saying," There's a bottom for every seat." Why is nobody interested in my house?
Many will blame it on the market, the realtor or the neighbor who keeps everything on his lawn. The fact is, yes, every house has a buyer. But whether every house has a motivated seller is another question.
Self examination in selling your house is as difficult as a self therapy session. Sometimes we need to step back from being the "owner" and look at the situation as if we are not holding possession. The act of 'possession' will actually prevent the sale. Are you really WILLING to let go of ownership? What is your motivation? Most times it is taking a "loss" on the sale that prevents the owner from seeing the reality of the market situation. Yes, we all hate to admit truth of a poor investment and are embarrassed to feel defeat. But, lets see if we can use our observation and math skills to become the victor instead of the loser.
Some factors to consider are obvious, but lets look at all of the possible reasons that your home has had no interest to buyers.
Condition of property and nearby properties.
Has your neighbor taken a down turn or has a proposed change in the neighborhood given it a reputation? Is there power lines or RR tracks nearby? Be sure to look at your property map on theses sites:
Google Maps » ( use Terrain view)
www.stopthelines.com
Check out your agents online photos and write up as well!
History of Bad Press
Has there been a flood in your area, high crime, low school score report? Have you checked the state sex offender registry lately? Have you taken any negative insurance claims on your property? Any good buyers agent knows to look for these red flags before showing a property.
Check out these sites:
www.greatschools.net
New Jersey Sex Offender Internet Registry
www.isopropertyresources.com
Overpriced
This is most likely the number one reason your property is not selling. Every above negative brings down the value of your home a few thousand dollars. You obviously saw value in your home when you bought it. That value is still there. It may need to be priced adjusted to compensate for other factors that are negatively affecting your sale. Did you buy at a high time in the market? Or maybe you have overextended your credit and need the money to get out of debt? Is this really the new buyers responsibility? Would you overpay for a home to cover the past owners debt? Buyers are quite savvy on market value. They get keyed in quickly to the trend and the value. Some preview online for up to a year before they actually go into a home with an agent. You are not fooling anyone but yourself by expecting that the right buyer will come along and pick up your tab.
Lets consider the following scenario. You bought for your home in a high market and paid $400,000 with taxes of $7000 at an interest rate of 6.5 with 5% down. So your payment is now roughly $3000 per month. If it takes you 1 year to sell your home, you will carry this payment, or $36,000. Do the math and follow that number for 2 or 3 more years. It becomes staggering.
Your listing agent is telling you to drop the asking price on your home down to market value of $359,000 , by accepting an offer of $345,000. Your closing costs and inspection repairs will be about 7% of profits or $24,000.
Bottom line $400,000-$345,000=$55,000 loss add your fees of $24,000 and you are down $79,000. Let's look at the flip side, if you held onto your home at the high asking price for 2 years you are down $72,000. If no repairs are needed, you may be only slightly ahead. If you wait 3 years you'll be out $108,000.
But you have lost sight of the reason you want to move. What is more important to you. Moving on and accepting the loss of a few thousand dollars, or fighting the losing tide of recouping your bad investment. If you are unable to let go of this ownership, then do yourself a favor and take your home off the market until you are ready to compete and win freedom from your past mistake. Owing a bank a difference of $79,000 is a lot easier to live with, than the full hand.
Remember that the home you buy will also be at today's market. So you may get a good deal yourself!
Self examination is hard. But, letting go of old habits is freedom!
We've heard that old saying," There's a bottom for every seat." Why is nobody interested in my house?
Many will blame it on the market, the realtor or the neighbor who keeps everything on his lawn. The fact is, yes, every house has a buyer. But whether every house has a motivated seller is another question.
Self examination in selling your house is as difficult as a self therapy session. Sometimes we need to step back from being the "owner" and look at the situation as if we are not holding possession. The act of 'possession' will actually prevent the sale. Are you really WILLING to let go of ownership? What is your motivation? Most times it is taking a "loss" on the sale that prevents the owner from seeing the reality of the market situation. Yes, we all hate to admit truth of a poor investment and are embarrassed to feel defeat. But, lets see if we can use our observation and math skills to become the victor instead of the loser.
Some factors to consider are obvious, but lets look at all of the possible reasons that your home has had no interest to buyers.
Condition of property and nearby properties.
Has your neighbor taken a down turn or has a proposed change in the neighborhood given it a reputation? Is there power lines or RR tracks nearby? Be sure to look at your property map on theses sites:
Google Maps » ( use Terrain view)
www.stopthelines.com
Check out your agents online photos and write up as well!
History of Bad Press
Has there been a flood in your area, high crime, low school score report? Have you checked the state sex offender registry lately? Have you taken any negative insurance claims on your property? Any good buyers agent knows to look for these red flags before showing a property.
Check out these sites:
www.greatschools.net
New Jersey Sex Offender Internet Registry
www.isopropertyresources.com
Overpriced
This is most likely the number one reason your property is not selling. Every above negative brings down the value of your home a few thousand dollars. You obviously saw value in your home when you bought it. That value is still there. It may need to be priced adjusted to compensate for other factors that are negatively affecting your sale. Did you buy at a high time in the market? Or maybe you have overextended your credit and need the money to get out of debt? Is this really the new buyers responsibility? Would you overpay for a home to cover the past owners debt? Buyers are quite savvy on market value. They get keyed in quickly to the trend and the value. Some preview online for up to a year before they actually go into a home with an agent. You are not fooling anyone but yourself by expecting that the right buyer will come along and pick up your tab.
Lets consider the following scenario. You bought for your home in a high market and paid $400,000 with taxes of $7000 at an interest rate of 6.5 with 5% down. So your payment is now roughly $3000 per month. If it takes you 1 year to sell your home, you will carry this payment, or $36,000. Do the math and follow that number for 2 or 3 more years. It becomes staggering.
Your listing agent is telling you to drop the asking price on your home down to market value of $359,000 , by accepting an offer of $345,000. Your closing costs and inspection repairs will be about 7% of profits or $24,000.
Bottom line $400,000-$345,000=$55,000 loss add your fees of $24,000 and you are down $79,000. Let's look at the flip side, if you held onto your home at the high asking price for 2 years you are down $72,000. If no repairs are needed, you may be only slightly ahead. If you wait 3 years you'll be out $108,000.
But you have lost sight of the reason you want to move. What is more important to you. Moving on and accepting the loss of a few thousand dollars, or fighting the losing tide of recouping your bad investment. If you are unable to let go of this ownership, then do yourself a favor and take your home off the market until you are ready to compete and win freedom from your past mistake. Owing a bank a difference of $79,000 is a lot easier to live with, than the full hand.
Remember that the home you buy will also be at today's market. So you may get a good deal yourself!
Self examination is hard. But, letting go of old habits is freedom!
Tuesday, October 6, 2009
NJ Real Estate: The Offer
by Laura Jacobus
Oh, so, congratulations, you got an offer!! You must have been a smart seller and understood the basic mentality of a home buyer. You did your homework and went to see the competition. You staged your home to be clean, clear of cluster, and welcoming. And of course, you were priced right!
Few sellers understand the value in pricing their home to sell, not to list, TO SELL! It is the homes that start high and sit and sit and sit, like stale bread on the shelf, that are the least successful in attracting a buyer. The pricing has more appeal than most can imagine.
So, why is the offer so low? What is this buyer thinking, that he can steal my home and all the money that I have put into it? That he believes that I am so desperate that I will jump at his dangling green carrot? Tell him to come back when he wants to play with my toys nicely.
Ouch. That low offer is hard on the old ego. The house becomes, in many cases like the appendage to the body. The personal insult is difficult to shrug off. This is the point where we need to move mentally into the position of the buyer. He has, by now seen at least 6-10 homes in your area and price range. Carefully look at the current list of available, sold and under contract homes in your area. Some may have sold since you listed, but many may still be out there. Evaluate with your agent, the current market and determine the mid point of this offer compared to your list price. If the midpoint is still way below your acceptable asking price, ask why. Invite the buyers agent to make a presentation and explain the buyers position. This is a very acceptable way to understand the personal side of the buyers story, and a good way to get your point across to the buyers agent as well. That agent knows if this buyer can really afford your home, as the prequalify call from their loan department told them where to shop.
This buyer obviously knew the price range he was shopping in. The average buyer "today" will put in an offer of 10-12% less than asking price. This may not sound like much on a pair of shoes, but on a price tag of $350,000, that 10% can be shocking. $35000 is a deep discount and you still need to make up for your broker fee, legal, and transfer tax, which all adds up to about 6%-7%.
The bottom line is, everyone wants to walk away feeling that he got a good deal. The seller needs to move on, with little or no remorse, and the buyer needs to feel that he did not pay full price. Finding that middle can get sticky and uncomfortable. It is important to remember that you will most likely meet this buyer at some point in the transaction. Establishing a mutual relationship is best for all parties involved.
In the end, you have the power to choose to refuse, or let go of the loss and know that you too will also be able to negotiate a good deal for yourself in your next home! The point to your sale is to move on and enjoy the next phase of your life...LET IT GO and don't take it personal!
Oh, so, congratulations, you got an offer!! You must have been a smart seller and understood the basic mentality of a home buyer. You did your homework and went to see the competition. You staged your home to be clean, clear of cluster, and welcoming. And of course, you were priced right!
Few sellers understand the value in pricing their home to sell, not to list, TO SELL! It is the homes that start high and sit and sit and sit, like stale bread on the shelf, that are the least successful in attracting a buyer. The pricing has more appeal than most can imagine.
So, why is the offer so low? What is this buyer thinking, that he can steal my home and all the money that I have put into it? That he believes that I am so desperate that I will jump at his dangling green carrot? Tell him to come back when he wants to play with my toys nicely.
Ouch. That low offer is hard on the old ego. The house becomes, in many cases like the appendage to the body. The personal insult is difficult to shrug off. This is the point where we need to move mentally into the position of the buyer. He has, by now seen at least 6-10 homes in your area and price range. Carefully look at the current list of available, sold and under contract homes in your area. Some may have sold since you listed, but many may still be out there. Evaluate with your agent, the current market and determine the mid point of this offer compared to your list price. If the midpoint is still way below your acceptable asking price, ask why. Invite the buyers agent to make a presentation and explain the buyers position. This is a very acceptable way to understand the personal side of the buyers story, and a good way to get your point across to the buyers agent as well. That agent knows if this buyer can really afford your home, as the prequalify call from their loan department told them where to shop.
This buyer obviously knew the price range he was shopping in. The average buyer "today" will put in an offer of 10-12% less than asking price. This may not sound like much on a pair of shoes, but on a price tag of $350,000, that 10% can be shocking. $35000 is a deep discount and you still need to make up for your broker fee, legal, and transfer tax, which all adds up to about 6%-7%.
The bottom line is, everyone wants to walk away feeling that he got a good deal. The seller needs to move on, with little or no remorse, and the buyer needs to feel that he did not pay full price. Finding that middle can get sticky and uncomfortable. It is important to remember that you will most likely meet this buyer at some point in the transaction. Establishing a mutual relationship is best for all parties involved.
In the end, you have the power to choose to refuse, or let go of the loss and know that you too will also be able to negotiate a good deal for yourself in your next home! The point to your sale is to move on and enjoy the next phase of your life...LET IT GO and don't take it personal!
Tuesday, September 29, 2009
Showing Your Home
by Laura Jacobus
The time it takes to prepare for sale is all worth the effort when your agent calls you with a "showing"!
If your home is properly marketed, and fairly priced, you should start to get multiple agents calling you or your agent for showings. It is important to realize at the time of the listing, who will be handling the calls? Do you want to handle the calls or can you leave it up to your agent? That depends on your situation at home. Many factors can influence your showings.
BUYER TURN OFFS:
PETS
Is there pets to be concerned with? Pets are the major reason that homes cannot be shown. Dogs are natural property protectors and your liability may be at risk if you are leaving your dog loose in the house. Even the friendliest dog, can be upset by surprise visitors or small children. Be sure to have your dog secured in a locked area or staying with a friend during your showing. If you need to make arrangements the day of the showing, you may loose the chance to show to that buyer for good. Agents try to schedule appointments, but sometime a buyer will throw a curve ball from the agents car and ask to see your home immediately. Try to be ready for those surprise visits. Any one can be your potential offer!
TENANTS
Although tenants can be income producers for you, they can be a hindrance in your sale. Most tenants are quite happy with their situation, and not really as eager to see the house sell as you are. Even the best tenants can be quite snooty about people coming through their belongings. If there is anyway to have the tenants prepare to leave the premises before you list, make those arrangements now. Most states require landlords give tenants 60 days to vacate. If your buyer wants a fast closing, your tenant can hold up your sale. Give your tenants fair warning and ask them to start the process of looking for a new home before your listing. Buyers have of fear of tenants refusal to vacate and no new buyer wants to be stuck with a hold over tenant.
ODORS
Pets, cigarettes, mold and old food in the trash can. Nothing says, "Lets get out of here!" more than odors. Keep windows open if possible. Dehumidify any basements or dark houses to keep the moldy smell out. Clean out fireplaces, ashtrays and litter boxes. Have carpets and drapes cleaned and wash down walls if possible. Remember that buyers are imagining their stuff in your house!
PERSONAL ITEMS
Put away photos of your kids, your family and your personal icons and idols. A home that has no information about the owner is always a better seller. The mass appeal of a home with no attachments, presents a home that could be right for anyone. Buyers cannot help but notice your kids dance photos or your diploma from culinary school. And if you have an appointment with the un-employment office on Tuesday, for heavens sake, put the calendar away! What you put away, whether in storage or in a drawer can really help your buyer to see "the space" not the sellers situation. Obviously, important documents, jewelry and valuables should be out sight.
BE READY AT ALL TIMES!
Have beds made, clothes picked up and bathrooms clean every day. Try as we may to prepare you, the buyers sometimes call the same day and ask to see your home. Consider calling a neighbor to pick up if you had a bad morning!
SHOW AND SELL!
The time it takes to prepare for sale is all worth the effort when your agent calls you with a "showing"!
If your home is properly marketed, and fairly priced, you should start to get multiple agents calling you or your agent for showings. It is important to realize at the time of the listing, who will be handling the calls? Do you want to handle the calls or can you leave it up to your agent? That depends on your situation at home. Many factors can influence your showings.
BUYER TURN OFFS:
PETS
Is there pets to be concerned with? Pets are the major reason that homes cannot be shown. Dogs are natural property protectors and your liability may be at risk if you are leaving your dog loose in the house. Even the friendliest dog, can be upset by surprise visitors or small children. Be sure to have your dog secured in a locked area or staying with a friend during your showing. If you need to make arrangements the day of the showing, you may loose the chance to show to that buyer for good. Agents try to schedule appointments, but sometime a buyer will throw a curve ball from the agents car and ask to see your home immediately. Try to be ready for those surprise visits. Any one can be your potential offer!
TENANTS
Although tenants can be income producers for you, they can be a hindrance in your sale. Most tenants are quite happy with their situation, and not really as eager to see the house sell as you are. Even the best tenants can be quite snooty about people coming through their belongings. If there is anyway to have the tenants prepare to leave the premises before you list, make those arrangements now. Most states require landlords give tenants 60 days to vacate. If your buyer wants a fast closing, your tenant can hold up your sale. Give your tenants fair warning and ask them to start the process of looking for a new home before your listing. Buyers have of fear of tenants refusal to vacate and no new buyer wants to be stuck with a hold over tenant.
ODORS
Pets, cigarettes, mold and old food in the trash can. Nothing says, "Lets get out of here!" more than odors. Keep windows open if possible. Dehumidify any basements or dark houses to keep the moldy smell out. Clean out fireplaces, ashtrays and litter boxes. Have carpets and drapes cleaned and wash down walls if possible. Remember that buyers are imagining their stuff in your house!
PERSONAL ITEMS
Put away photos of your kids, your family and your personal icons and idols. A home that has no information about the owner is always a better seller. The mass appeal of a home with no attachments, presents a home that could be right for anyone. Buyers cannot help but notice your kids dance photos or your diploma from culinary school. And if you have an appointment with the un-employment office on Tuesday, for heavens sake, put the calendar away! What you put away, whether in storage or in a drawer can really help your buyer to see "the space" not the sellers situation. Obviously, important documents, jewelry and valuables should be out sight.
BE READY AT ALL TIMES!
Have beds made, clothes picked up and bathrooms clean every day. Try as we may to prepare you, the buyers sometimes call the same day and ask to see your home. Consider calling a neighbor to pick up if you had a bad morning!
SHOW AND SELL!
Tuesday, September 22, 2009
Real Estate Market Value - What's my Home Worth?
by Laura Jacobus
With so many homes on the market, how do you get yours to stand out and get sold?
The reality of today's real estate market is tough for most homeowners to accept. Living in the present means understanding the price is not what the seller wants to believe his home is worth, but what the buyer will actually pay. We call it "Market Value".
In the spike of the 2005 real estate market, many homeowners had their properties refinanced or had a realtor do a comparative market study (CMA). The lenders were eager to give out loans and the property prices were climbing. The crash of reality is difficult for many homeowners to face. They had now overextend credit and the value of their home declined.
Pricing your home accordingly means being in step with the current market value, not expecting your overinflated CMA to be in line with current conditions. The fact is the higher you price your property, the fewer people who will come see it. Buyers actually run searches based on their comfort range of monthly payments. The range is usually within $25,000 increments. If you overprice your home, you miss a potential showing simply due to being outside of the buyers range of sight.
Have your listing agent review sale prices in your area, and pay attention to homes that did not sell. Take notice of the reason. Most homeowners will overprice their home, hoping the buyer will come along who will pay top dollar, only to drop their asking price a few months later, and miss hundreds of virtual showings.
Understanding the fair price of your home, means understanding the appraisal. The money spent on certain upgrades do not necessarily equal higher asking price. Outdoor upgrade have virtually no impact on appraisal. Although your home has better "curb appeal" a bank appraiser doesn't really care about your zen garden or waterfall spa. Emotional attachment on the sellers side to these items are not important to a buyer or appraiser.
Internet savvy buyers are looking for best value for their dollar, not
making up for your idea of of custom upgrades and fancy wallpaper. More showings equal higher percentage of possible offers on your home.
The bottom line is, set a higher price and play the waiting game, or
set a realistic price and prepare to move!
With so many homes on the market, how do you get yours to stand out and get sold?
The reality of today's real estate market is tough for most homeowners to accept. Living in the present means understanding the price is not what the seller wants to believe his home is worth, but what the buyer will actually pay. We call it "Market Value".
In the spike of the 2005 real estate market, many homeowners had their properties refinanced or had a realtor do a comparative market study (CMA). The lenders were eager to give out loans and the property prices were climbing. The crash of reality is difficult for many homeowners to face. They had now overextend credit and the value of their home declined.
Pricing your home accordingly means being in step with the current market value, not expecting your overinflated CMA to be in line with current conditions. The fact is the higher you price your property, the fewer people who will come see it. Buyers actually run searches based on their comfort range of monthly payments. The range is usually within $25,000 increments. If you overprice your home, you miss a potential showing simply due to being outside of the buyers range of sight.
Have your listing agent review sale prices in your area, and pay attention to homes that did not sell. Take notice of the reason. Most homeowners will overprice their home, hoping the buyer will come along who will pay top dollar, only to drop their asking price a few months later, and miss hundreds of virtual showings.
Understanding the fair price of your home, means understanding the appraisal. The money spent on certain upgrades do not necessarily equal higher asking price. Outdoor upgrade have virtually no impact on appraisal. Although your home has better "curb appeal" a bank appraiser doesn't really care about your zen garden or waterfall spa. Emotional attachment on the sellers side to these items are not important to a buyer or appraiser.
Internet savvy buyers are looking for best value for their dollar, not
making up for your idea of of custom upgrades and fancy wallpaper. More showings equal higher percentage of possible offers on your home.
The bottom line is, set a higher price and play the waiting game, or
set a realistic price and prepare to move!
Tuesday, September 15, 2009
Low Cost Improvements for a Quick Sale
by Laura Jacobus
Maybe you're not even thinking about selling your home right now. When the time comes, however, these lost cost improvements could make a difference.
First impressions are always important so you want to make sure the entry to your home shines. As the buyer approaches the front door, the last thing they want to see is an old, worn door with cobwebs hanging from above.
Right off the bat, most buyers are going to assume that if the home is not well maintained on the exterior, the interior won't be much better.
THE ENTRYWAY
Painting the front door or even replacing it if it's beyond help can make a real difference. A nice shiny door set always stands out. If you have vinyl siding and haven't cleaned it in a while, mildew, dirt and grime can accumulate. Giving it a quick spray can surprisingly make a big difference in your home's appearance.
PLANT SOME COLOR
Planting some flowers around the entryway can really make your property come alive. Choose a variety of colors that really stand out. Adding a few potted plants in a covered entry or a large enough stoop is always a nice touch, too.
PAINT THOSE WALLS
Painting is one of the cheapest, most effective improvements you can make in your home - especially if the colors aren't neutral to begin with. I know you love the pink entryway and purple bathroom, but most buyers may not appreciate it as much.
You may be thinking painting is cheap and the buyer can just do it later, but there are many people who just don't have the vision. They need to see it done. Painting your home with off white or earth tones is the best way to go. Remember: you're selling your home to appeal to the masses.
ADDRESS THE FLOORING
Flooring is a little more expensive, but will bring a better return on your investment - especially if you're still hanging on to the orange shag. Even if you have more modern carpet but don't have enough in the budget for new carpeting, a good cleaning by a professional can help dramatically. The same can be said for wood floors, too. A good scrubbing can go a long way.
CLEAN WINDOWS & TREATMENTS
Cleaning your windows can really spruce up your home. A bright home always shows far better than a dungeon. Removing heavy drapes and curtains can help brighten it up and breathe new life into your home. It's far better to have nothing than to have a pattern or fabric that was popular 20 years ago.
CHANGE OLD LIGHTING
Lighting is a subtle enhancement to make, but a buyer will notice if a home's lighting is outdated. There are some great lights that can be purchased rather cheaply in many lighting stores. Even little things like upgrading to brighter bulbs can make the difference that matters.
Dark or poorly lit rooms turn off most homebuyers. Although it's a little more expensive to add, recessed lighting can really change the look in a room. Recessed lights work especially well in kitchens and baths.
DECLUTTER YOUR HOME
This one can really go a long way. Buyers like spacious rooms they can envision their own belongings in. Getting rid of things you don't need or can put into storage while your home is on the market can transform the appearance of your home.
Hold a yard sale for those items that still hold value. For things you want to keep but will spoil how well your home shows, get a POD (portable on-site storage) or consider putting your stuff in a short-term storage facility.
Remember: not every improvement has to be expensive. Sometimes it's the small things that make the biggest difference in a buyer's mind.
Maybe you're not even thinking about selling your home right now. When the time comes, however, these lost cost improvements could make a difference.
First impressions are always important so you want to make sure the entry to your home shines. As the buyer approaches the front door, the last thing they want to see is an old, worn door with cobwebs hanging from above.
Right off the bat, most buyers are going to assume that if the home is not well maintained on the exterior, the interior won't be much better.
THE ENTRYWAY
Painting the front door or even replacing it if it's beyond help can make a real difference. A nice shiny door set always stands out. If you have vinyl siding and haven't cleaned it in a while, mildew, dirt and grime can accumulate. Giving it a quick spray can surprisingly make a big difference in your home's appearance.
PLANT SOME COLOR
Planting some flowers around the entryway can really make your property come alive. Choose a variety of colors that really stand out. Adding a few potted plants in a covered entry or a large enough stoop is always a nice touch, too.
PAINT THOSE WALLS
Painting is one of the cheapest, most effective improvements you can make in your home - especially if the colors aren't neutral to begin with. I know you love the pink entryway and purple bathroom, but most buyers may not appreciate it as much.
You may be thinking painting is cheap and the buyer can just do it later, but there are many people who just don't have the vision. They need to see it done. Painting your home with off white or earth tones is the best way to go. Remember: you're selling your home to appeal to the masses.
ADDRESS THE FLOORING
Flooring is a little more expensive, but will bring a better return on your investment - especially if you're still hanging on to the orange shag. Even if you have more modern carpet but don't have enough in the budget for new carpeting, a good cleaning by a professional can help dramatically. The same can be said for wood floors, too. A good scrubbing can go a long way.
CLEAN WINDOWS & TREATMENTS
Cleaning your windows can really spruce up your home. A bright home always shows far better than a dungeon. Removing heavy drapes and curtains can help brighten it up and breathe new life into your home. It's far better to have nothing than to have a pattern or fabric that was popular 20 years ago.
CHANGE OLD LIGHTING
Lighting is a subtle enhancement to make, but a buyer will notice if a home's lighting is outdated. There are some great lights that can be purchased rather cheaply in many lighting stores. Even little things like upgrading to brighter bulbs can make the difference that matters.
Dark or poorly lit rooms turn off most homebuyers. Although it's a little more expensive to add, recessed lighting can really change the look in a room. Recessed lights work especially well in kitchens and baths.
DECLUTTER YOUR HOME
This one can really go a long way. Buyers like spacious rooms they can envision their own belongings in. Getting rid of things you don't need or can put into storage while your home is on the market can transform the appearance of your home.
Hold a yard sale for those items that still hold value. For things you want to keep but will spoil how well your home shows, get a POD (portable on-site storage) or consider putting your stuff in a short-term storage facility.
Remember: not every improvement has to be expensive. Sometimes it's the small things that make the biggest difference in a buyer's mind.
Saturday, September 12, 2009
Welcome to Morris County New Jersey Real Estate
MORRIS COUNTY, NEW JERSEY - Flanders NJ News is happy to announce our new section 'Morris County New Jersey Real Estate'.
Here you will find Weekly home buying and selling tips, articles and professional advice from Real Estate agents Kathryn Godby Oram, of Godby Real Estate and Laura Jacobus, of Remax Realty.
Look for great articles about Staging, Home Improvement Mistakes, Divorce Sales, Home Inspection, Mortage Loans, First Time Buyers, Best Time to Buy, Disclosures, Home Styles, and more.
Can't find what you are looking for? Drop us a line info@flanders-nj.com
Here you will find Weekly home buying and selling tips, articles and professional advice from Real Estate agents Kathryn Godby Oram, of Godby Real Estate and Laura Jacobus, of Remax Realty.
Look for great articles about Staging, Home Improvement Mistakes, Divorce Sales, Home Inspection, Mortage Loans, First Time Buyers, Best Time to Buy, Disclosures, Home Styles, and more.
Can't find what you are looking for? Drop us a line info@flanders-nj.com
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