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Archive for the ‘Home Selling’ Category

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7 Tips For Selling Your Home Today

March 18th, 2010 by Matthew C. Keegan | 3 Comments | Filed in Home Selling

Today’s housing market is a tough one, but that doesn’t mean you can wait it out by not putting your home on the market. Sometimes a job change forces people to move while others prefer to downsize (or upsize) or simply relieve themselves of the responsibility of home ownership.

Never list a home for sale if it looks anything like this one.

If you want to move your home fast then there are some things you can do to help woo buyers, make a deal and move on with your life:

1. Price it right – This one should be obvious but some homeowners haven’t taken into consideration the latest local home values when determining their asking price. Study neighborhood price comparables (comps) and take into consideration the number of foreclosures in your area when setting your price. Then, set it slightly below what it might fetch.

2. Fix big problems – If there are glaring problems with your home, namely a faulty furnace, leaking pool or rotten roof, those items must be fixed before you list your home for sale. Otherwise, your home will not sell in this market.

3. Tend to the little things – Big things can stop a sale, while little things can make your home sell faster. Clean the carpet, paint the front door, trim bushes, clean out the gutters, straighten up the yard and take care of anything that may detract from your home’s visual appeal. Think curb appeal.

4. Declutter, please – Get rid of or hide excess furniture and make your home as open and uncluttered as possible.

5. Find a good agent – If you’re planning to work with a real estate agent, find someone who excels as what she does. Consider offering an incentive if they find the right buyer for you in a short period.

6. Market smartly – No home marketed today should be marketed without harnessing the web. Make sure that your home is listed on MLS, but also on Craigslist and easily found on local forums and other popular home selling sites.

7. Stay away – When buyers come knocking, you want to be out of the house. Importantly, your home needs to be extra clean. A dirty home is an undesirable home; keep it looking great at all times.

Will your home sell quickly? It might if you are aggressive with its price and realistic. Plan smartly or risk having your home languish on the market for many months.

Adv. — Just a few weeks remain before the federal homebuyer tax credit is set to expire. Consider buying now in order to take advantage of a special opportunity. For related lending tools, please stop over to SayLending.com today!


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Smart Tips To Help You Prepare Your Home For Sale

March 11th, 2010 by Matthew C. Keegan | 1 Comment | Filed in Home Selling

Spring is here and with the warmer weather comes a surge of homes available for sale. The 2010 market may be tempered a bit with some local markets still working their way through a rash of foreclosures and lower home prices.

home sellThat’s all the more reason why you should carefully plan just how you will prepare your home for sale, working on giving it the edge it needs in a touch market.

We’ve scoured our archives and pulled together some tried and true tips to help homeowners get ready including the following smart ideas:

Evaluate your home. Is your home ready to sell or do you need to invest in repairs and updates first? Look inside and out as well as around the yard and decide what needs to be taken care of before you place your home on the market. Don’t expect a dollar for dollar return on your repairs, but do realize that “new stuff” can help your home sell in a tough market. Establish a budget and adhere to it; find ways to keep your costs down while maximizing your return on investment.

Maximize curb appeal. The first thing potential buyers see when they pull up in front of your home is the lawn and your home’s exterior. If both are in good shape then you have acceptable curb appeal. But if there are problems such as peeling paint, a broken gutter, overgrown shrubs or poor lighting, you will need to put those items on your “to do” list. Consider painting the front door, power washing the house, planting fresh flowers, resealing your driveway and patching holes in your lawn.

Enhance inside attraction. Just because your exterior looks great doesn’t mean you’ll get visitors much beyond your threshold if there are glaring problems inside. Your first step is to remove all of your clutter; if you can’t part with a piece of furniture, then store it. Then, take a look at your walls, ceiling and carpeting and flooring and decide if they have a sparkle that would attract buyers. Fix dripping faucets, running toilets and give bathrooms a good cleaning is a start. Clean up and clean out the garage, basement and attic. Work with your real estate agent to stage your home for maximum buyer appeal.

As the weather continues to warm, make sure that you have your lawn under control, check for bug infestation and consider enhancing yard appeal by hanging up a colorful wooden birdhouse or chimes. If you have a patio bring out the summer furniture while also tidying up the woodpile, laying down fresh mulch and planting annuals.

Adv. — Just a few week remain before the federal homebuyer tax credit is set to expire. Barring another extension by Congress, you could miss out on a special opportunity if you are looking to purchase your first home. To review related lending tools, please stop by SayLending.com today!


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Short Selling May Not Resolve Your Problems

January 13th, 2010 by Matthew C. Keegan | 4 Comments | Filed in Home Selling, Money Management

Consumers seeking to save their homes from foreclosure and the resultant long term hit to their credit ratings will sometimes put their homes on the market and accept a price for less than what they owe on their mortgage. If the lender agrees to this deal, then the original homeowner can get out from underneath his mortgage and be free of further obligation.

Well, not so fast.

housing crisisTheoretically, a short sell (short sale) should be final, a transaction whereby the lender forgives the loan deficiency, choosing to swallow a comparatively small loss up front, rather then a sizable loss that would probably be incurred had the house passed through foreclosure.

According to The Wall Street Journal (A Short Sale May Not Mean You’re Home Free), that theory isn’t always meeting reality. Sometimes lenders will go after the first homeowner in a bid to recoup some or all of the deficiency.

For example, let’s say you are behind on your mortgage and just a month or two away from foreclosure. You owe $295,000 on your home, but it is worth a bit more even though you have owned it for several years. A crummy real estate market is pushed down home values, yet you believe that you could get close to that amount for your home and pay off your mortgage.

Well, the tough market proves two things: buyers are tough too and are looking for bargains. You listed it for $320,000, but the best offer received was just $280,000 which you accepted pending your lender’s approval which you need in order to be released from your obligation. You see, when you seek to sell for less than what you owe in effect you are putting your lender in a position to take it or leave it. If this lender believes that your short sell is the best deal, then they may reluctantly accept the deal.

This is where things can get complicated.

Whenever performing any real estate transaction, you want to have a lawyer representing your interests. A real estate attorney will ensure that your short sell is up to snuff and includes one important provision: that the bank will not go after you for the deficiency.

If that provision is not in place, then guess what? Your lender can go after you for the loan deficiency, costing you thousands of dollars. And you thought that it was too expensive to get a lawyer!

Oh, by the way, if you think that short selling your home means you can automatically turn around and buy a new home within the coming months or year, think again. On future credit applications you will be required to state whether you have been involved in a short sale which is sometimes also called a deed in lieu of foreclosure.

Lying about it can cause serious legal problems for you. Telling the truth will keep you from getting a home loan. Regardless, a short sale is a serious matter, one that should be done as a last resort.

In fact, some lenders say that there is no credit advantage in a short sale versus a foreclosure, which means that your credit will likely reflect that information. (see MSN Money: Use a short sale to escape foreclosure)


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5 Homeowner Open House Strategies

December 22nd, 2009 by Matthew C. Keegan | 1 Comment | Filed in Home Selling

If you’re a homeowner working with a real estate agent to sell your home, there are some things you can do make your open house successful, perhaps netting one or more offers. An open house is one of several ways to market your home, but it doesn’t always yield a buyer. By thinking creatively, you can attract visitors to your home including potential buyers.

executive home1. Advertise — Is the realtor’s website updated and easy to access? Is your home featured on popular multiple listing websites such as Realtor.com? Besides placing the customary open house signs out front, you want web savvy home buyers to find your home. Consider creating your own website chock full of tips about your home, how to find it, and information about your open house.

2. Curb Appeal — The first thing buyers see when they pull up to your home is the front of your house. You’ll want to maximize its curb appeal in order to get people to come inside. What sort of hook can you use to bring people in? A fresh bed of flowers? A newly painted front door? If you’re trying to attract families to your home rent a blow up slide, place it on the front lawn, and let the parents see the inside of your home while you entertain their children outside.

3. Staging — Once open house visitors enter your home what will they see? Remove clutter: take out an extra chair, empty the magazine rack, clear counters, swap out a controversial or huge painting, and make it easy for people to move about your home, taking in everything. Clean all surfaces, carpeting, drapes, and tidy up beds. Bake cookies just before the open house begins, allowing the smell to permeate every room. Of course, have your realtor offer them to visitors.

4. Garage Sale — Why not hold a garage sale the morning of your open house? You’ll attract a lot of foot traffic including people who might be interested in buying more than the items you have on display. Have flyers and cards available to hand out; mention the open house to your garage sale visitors and ask them to spread the word.

5. Knock on Doors — A day or two before your open house, knock on doors in your area to explain to your neighbors that you’re planning to have an open house. They may know of someone who would like to move into the neighborhood and can spread the word. Leave behind door hangers with information about your open house if people are not home.

Tips

Communicate with your real estate agent if you believe that the time and/or date of the open house isn’t a good time to sell your home. Hold succeeding open houses if necessary, fine tuning marketing, curb appeal, and staging as necessary.

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