Home     Log in    XML, RSS Subscribe Feed (RSS)     XML, RSS Comments Feed

Posts Tagged ‘home sale’

You Can Sell Your Home In December

December 5th, 2007 by Matthew C. Keegan | 1 Comment | Filed in Home Selling

Christmas Door

The holidays really aren’t a bad time to sell your home

The hustle and bustle of the holiday season means that people are preoccupied with shopping, baking, going to Christmas parties, visiting family, and so much more. The time just before Thanksgiving to the early part of the New Year is usually the busiest for everyone. So, why on earth would you try to sell your home this time of the year?

Well, for several reasons including some you may not have thought of previously:

It Isn’t Their Holiday — Although Christmas is often simply called the “Holiday Season” in order to include everyone, this time of year isn’t marked in the same way by everyone. Your buyers may not celebrate your holidays, but they would certainly welcome the opportunity to see your home, especially as their housing choices are temporarily reduced. No, you may not want to show your home on Christmas Eve, but a wise real estate agent can work around your holiday schedule.

Hungry Buyers — No matter what the season, there will always be people looking to buy a home. You may not be able to close in time for the holidays, but striking a deal during this festive season can be done. Companies transfer people throughout the year, families outgrow their homes, life goes on. If a family was in the market for a home before the holiday season, they’re still in the market today — they just haven’t found your home yet. Deck it out in its Christmas finest and you’ll showcase a home that is warm, inviting, and certainly ready to sell.

You Have To Move Anyway — Your spouse has learned that the company plans on transferring your family immediately after the first of the year. Quite frankly, you cannot put off selling your home. Make the most of a difficult situation by tastefully decorating the outside of your home for maximum appeal, what real estate agents call “staging” but what you know as “decorating for the holidays.” There is something about curb appeal that draws in the buyers; stick a “for sale” sign in the hand of a snowman for whimsical “can’t miss” visual appeal.

Motivated Real Estate Agents — Although most real estate agents plan for the extended down time, it could be that your agent would welcome the opportunity to make a sale before the year closes. With fewer listings in her arsenal, some agents are looking to serve those clients who simply cannot wait for the holiday hoopla to end. Let’s do the math: A Hungry Buyer + One Motivated Real Estate Agent = A Satisfied Home Seller.

Short of a monster snowstorm that would stop everything for a few days anyway, you can entertain buyers when the calendar says December. You may not get many lookers, but all it takes is for one buyer whose heart has been stirred to buy your home during the holiday season.


Tags: , , , ,

R/E Agent vs. FSBO: How Will You Market Your Home?

November 7th, 2007 by Matthew C. Keegan | 11 Comments | Filed in Home Selling

istock_000004253221xsmall.jpg


If you are planning to sell your home, will you be using the services of a real estate agent or will you be going the for sale by owner (FSBO) route? Selling a home has gotten very interesting over the past decade as surging home prices, price wars, and real estate fees have caused many home sellers to take a good, hard look at selling their home themselves.

Well, we’re not about to tell you which home selling method to choose but we will share with you the good, the bad, and the ugly of the home selling process.

Question: Our home’s price has gone way up since we bought our house, why should we pay a 6% commission to a realtor who will take a bigger chunk of my home’s profits?
Answer: Your home’s value is strong and reaping the financial benefits of selling your home should be a priority.

A professional real estate agent has the experience to set your home’s price; provide marketing; screen buyers; negotiate the selling price; work with other realtors, mortgage brokers, and attorneys; arrange home inspection; and make sure that everything related to the home selling process is handled smoothly so that your home closes on time.

Question: The agent’s fee is still too high. I expect my home to sell immediately, therefore won’t only a limited amount of marketing be necessary?

Answer: A realtor’s fee is negotiable. Some agents will accept a lower fee, but keep in mind that as much as half of the fee could be split with another broker. If you are able to get the lower fee, make sure that you still receive the full services promised by your agent.

Question: I’ve decided to go ahead and sell my home myself. What steps should I take to prepare for a sale?

Answer: You’ll want to make sure that your home is ready to be seen. Assuming that all exterior and interior preparations have been made, then preparing a marketing plan is the next step. An FSBO listing with a recognized online site is a popular way to go. You’ll pay a fee to have you home featured on the site and, in some cases, you can pay an extra fee for listing home via MLS in order to extend your marketing base.

A sign on your front lawn, notices in the newspaper, posting your listing on Craigslist, and word of mouth advertising are some other options worth considering.

Finally, you’ll want to make sure that you have reasonable times available to show your home to visitors. Expect to spend plenty of time fielding phone calls, answering questions, having people stop by to see your home and negotiating directly with prospective buyers.

Question: When selling my home via an agent I know that they screen potential buyers. What is involved in the screening process?

Answer: Real estate agents want to make sure that buyers can afford the types of homes they want the agent to show to them. Almost always, agents will ask the buyer about their annual income. Typically, this is a verbal exchange with no proof given. With FSBO you can do the same thing, but you risk wasting precious time showing your home to someone who doesn’t have the resources (or the interest) to buy a home from you.

On the other hand, if someone walks into your home with a qualifying letter from their mortgage broker you can contact the broker directly to verify their eligibility.

Question: What if I change my mind and decide FSBO isn’t right for me?
Answer: That’s easy — you can always choose to list your home with a realtor and forego the FSBO route. Lots of home sellers underestimate the work that goes into the home selling process and abandon FSBO if their home doesn’t sell as quickly as planned.

Another option is to keep your home FSBO but entertain agents who bring to you their customers. You’ll agree to pay them no more than 3% commission while saving time and money by going with a method that straddles your two options.

Going With What Works For You

In summation, selling a home does take a lot of work perhaps much more work than what you had expected. The agent’s fee is negotiable, so finding a happy middle ground could bring a suitable buyer to you without you feeling ripped off and the real estate feeling short changed.


Tags: , , , , , ,

Running The Numbers Will Maximize Your Home’s Selling Price

October 16th, 2007 by Matthew C. Keegan | 1 Comment | Filed in Home Selling

If you are preparing to sell your house, determining the best home selling price will move your home faster and help you walk away with more money in your pocket. You may think that you know your home’s value, but an inaccurate assessment of the numbers could cost you thousands of dollars. There are some steps you can take before a home sale listing, information that will help you maximize your profits.

You Know Your Market Or Do You?

Today’s homeowners are usually quite aware of just how their local housing market is doing. News media reports, realtor ads, even a conversation with a neighbor can give you a good idea what your home’s value is. But there is one small problem with this type of information: it can be inaccurate.

Gathering Information To Determine A Home Selling Price

Instead of relying on conjecture or second hand news, the following information will give you a much clearer picture of the current value of your home:

Home Value Report – Independent companies have amassed huge databases to create automated valuation reports which are designed to mimic conventional appraisal reports. Lenders run these reports to determine your home’s value in order to supply mortgage loans or refinancing loans. Therefore, this is the only way that a lender based in Minnesota can determine what a house located in San Antonio, Texas is really worth. Without access to a home value report, out of state lenders would need a local appraiser to visually assess the home’s worth.

Realtor Comps – Comps (or home comparison reports) are offered by realtors who take a look at the home sales recently made in your neighborhood to determine a ballpark figure for your home. Those homes nearest in size to your home are the best determination of your home’s value. Stick with the most recent home sales if the market conditions in your area are changing rapidly. Your realtor should offer a report to you at no cost and without obligation. Consider having three different realtors provide this information for you to compare how they determined your home’s selling price.

Other Vital Information – Additional determining factors in establishing a home selling price should include the current mortgage loan rates, how long homes are taking to sell in your area, the appeal of your neighborhood (location, location, location!), and your home’s overall condition.

From Home Listing to Home Sale

Once you are armed with all of the right information, you can determine a home selling price that should be very close to what the market will bear. A home that is priced right should sell quicker and bring higher profits for the homeowner who has taken the time to do his or her homework.


Tags: , , , ,