SayEducate

If you are planning to buy or sell your home, having as much information available to you is essential if you want to get the best price for your home. Buyers don’t want to overpay and seller’s want to make sure that they are receiving fair market for their homes. Real estate comparables (comps) can help both parties out, but for some people they just don’t go far enough.

These days consumers have much more information at their finger tips thanks to the internet. Much of this information is free, but not all of it is accurate. Yet, consumers continue to do their research online before buying or selling a home. Read on and we’ll take a look at several sites which could make the difference for you.

Realtor.com — As the largest site listing homes for sale online, you can get a strong feel for local housing prices by researching available listings. Run by the National Association of Realtors, therefore not all “For Sale By Owner” offerings make the list. Visit FSBO.com to find homes being offered directly by their owners.

Realtor Networks — Though most of their listings eventually get on the Realtor.com site, for the most up-to-date information visit the national network sites for Coldwell Banker, ERA, ReMax, and others for listings. Strong, regional networks can also be quite good, but never forget your mom ‘n pop real estate broker — oftentimes, there personalized service trumps all and their listings are exclusive to them.

Zillow.com — Exactly how much is your home worth? With Zillow, they try to give you that information and they do it for free. Not always accurate, Zillow does best with homes of medium value and in neighborhoods where home buying and selling occurs on a regular basis. Other sites with home valuation information include HomeGain.com and RealEstateABC.com.

SayLending.com — Okay, we’re a bit prejudiced. SayLending and SayEducate are part of the same network. Still, if you are looking for free mortgage calculators, money tips, and other real estate information, then a stop here can certainly help you out.

What could be the biggest advantage to using online sources? Saving money on your real estate commissions. Expect that online home valuations and home buying/selling to continue to grow, making the real estate agent’s 6% fee a thing of the past.

All those dire predictions for the housing market has plenty of consumers scared. Some people have refused to buy a house during this economy, waiting until things improve before wading back in. Others are seeing an opportunity to buy now and are reaping the benefits of that decision.

When it comes to predicting housing trends, much of the advice being offered isn’t always accurate. In fact, if you read some of the reports you’ll quickly notice a few problems regarding home values including:

Predictions are too generalized – Sure, foreclosures are way up in some areas but that doesn’t mean that every market reacts the same way. If there is an oversupply of homes, then prices will continue to drop while foreclosed homes in a tight housing market are likely to be snapped up quickly.

Local markets are too broad – Even within a metropolitan area, selling trends can vary considerably. One municipality could be struggling while another could be thriving — local conditions including schools, jobs, and amenities will often determine just how strong a housing market is. Even within a single municipality, one development could be very attractive while another one not so.

The types of housing vary in price — Condos could be losing value while houses could be stable or even rise in price in certain markets. A market’s average home value decline could be weighted because one type of housing is dropping in price, skewing numbers for that ranch or colonial considerably.

Forecasts are too long range — predicting the future is difficult even with a thorough trend analysis at your disposal. Variables including government intervention, supply & demand, and local job markets can change a market’s course almost overnight.

Although a housing predictor can offer some information of value, they aren’t perfect. You’d do better tracking local trends yourself and drawing your own conclusions based on your personal analysis.

If you are planning to sell your home, then you know that you only have one chance to make a good first impression. If the people pulling up to your home don’t like what they see on the outside, then they won’t be bothered with stepping inside to see what the interior looks like — you’ve already lost a potential buyer.

When real estate agents talk about staging a home, they are referring to arranging the inside of the home in a certain way to maximize its appeal. On the outside, “street presence” or “curb appeal” are two terms commonly used and that is what I’ll cover with you here.

Please read on for some valuable tips that can make a difference for you, especially in a  slow-selling housing market:

Luscious Landscaping — You may enjoy the gardens in front of your home, but a potential buyer may not, especially if what you are growing could mean a lot of work for them. Trim back all unnecessary shrubbery and if that maple tree in the front yard looks sickly, cut it back or remove it.

Paint or Replace Siding — Peeling paint or loose siding can be a drag on any possible sale — you need to make sure that your home doesn’t scream immediate repairs needed when offered for sale.

Update the Garage Doors — If your garage is behind your home, then how it looks isn’t too much of a concern. However, if it is attached to your home and facing the street, what sort of impression do the doors make? Replace that drab, windowless garage door with a contemporary or classic design that includes windows.

Make a Grand Entrance — Your home’s front door and surrounding railings and trim could possibly use some updating. If a door is peeling, then paint it, if lighting is dated, then update it, and if molding is lacking, consider adding it. Thinkflair when redesigning your homes exterior.

Fix Those Fixtures — Broken or drab light fixtures should be replaced. Installing one outdoor post light can have a profound affect on the way your home looks; consider replacing older doorway lights and security lights if they have not aged gracefully.

Replace Gutters and Downspouts — They may not leak and they could still do a decent job of directing water away from the house, but rusty gutters and downspouts can detract from a home’s appearance. If paint won’t do the job, then replace.

Update the Roof, Replace as Needed — Your current roof may pass home inspection, but will it pass the scrutiny of a buyer? The shingles may be fine, but updating the entrance way to incorporate a gabled roof could be a wise move on your part.

Of course, these recommended changes could cost you several thousands of dollars to carry out, but it could be the investment needed to move your home. In a slow-selling market, you need every advantage you can get. Don’t scare off potential home buyers with a home that isn’t attractive to them.

Resources

Home Management Guide

Home Remodeling Center