Archive for the 'FSBO' Category
Whether you like it or not, the real estate market has ground to a slow trot. Selling a home can be difficult and requires you to return to the time-tested basics of selling a home. Here are some keys to remember and use.
1. When you are selling your home, allow it to be shown at a moment’s notice. Qualified buyers aren’t “a dime a dozen.”
2. It is important to remember that a home can only support the value of homes around it. When making home upgrades, make sure you do not spend more than you will recover when you sell it.
3. An attractive brochure can help you sell your home. A brochure that looks like a home featured in a magazine does the usual “memory jog” for people who have toured the house, but it also “adds value”.
4. When selling your home, be realistic about your asking price. You can check public record at the courthouse, or in many cases on-line, for the amounts of recent sales in your neighborhood.
5. When it comes to selling your home, your driveway tells potential buyers a lot about your property.If it has cracks and nasty oil stains, it is a blight on your property. Make sure to clean it thoroughly and repair all cracks.
6. Many people try to sell real estate with an “as is” qualifier. The idea is this protects them from any claims the failed to disclose problems with the property. This assumption is incorrect. If you sell a home with problems, you must disclose them.
7. Buyers aren’t a dime a dozen but they are out there. Showing flexibility can make your property more attractive than the competition. Be willing to vacate quickly for a qualified buyer who wants it.
8. If someone gives you their word they will do something, but doesn’t put it in writing, you cannot force them to do it. Make sure you get everything in writing!
9. Whether buying or selling, you will want to take a close look at comparable homes in the neighborhood. Do not pay much attention to the listed prices. Homes do not sell for the listed price. Focus on the actual sales prices of recently sold homes.
10. Many people work so hard to get an offer on their home that they do not know what to do once they get one. Your choices are to accept it, reject it or make a counter offer.
The funny thing about the real estate market is it is always active. If you listen to the news, you would swear not a single home was being sold these days. In truth, hundreds of thousands of them are and yours will be next if you follow the above advice.
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In the slow real estate market we are going through, you want to make your home look as good as possible to potential buyers. Always remember that as buyers walk around you home, they are thinking whether they could see themselves living in a house like yours.
For example, if your home has a strong odor, many buyers will think that it is a sign that your house is in bad shape. If the bathrooms are dirty, homebuyers won’t be able to see themselves living in your house; particularly, if they visit six other houses after yours.
In the following paragraphs, you can read about a few and inexpensive actions you can take to help buyers imagine themselves living in your home. Most of these tips can be carried out in little time and with very little money. You may want to create a budget of how much you wish to spend, (a few hundred dollars can do miracles,) and begin making the changes right away.
To give yourself a better chance, show your house during daylight whenever possible. Also, turn on all the lights in the house even if you are showing the house during the day. Change the lighting in your house with 100-watts light bulbs. Tests have proven that houses with a lot of light are preferred by home buyers.
If you live in a house with a front lawn, cut it and trim it. Also, clean the lawn. If the outside paint is old and you can buy some paint, give it a new coat of paint. If you can’t buy the paint, just paint the front door and the trims on the door and front windows.
Change the old mailbox and doormat with new ones. Buy quality street numbers that can be clearly be seen from the outside. Work hard in preparing your house so that the buyer’s first impression is a good one.
Inside the house, clean the carpet and the floors. If the carpet is very old, rent a carpet cleaning machine or hire a professional. In most cases, it’s not worthwhile to change the carpet because it may not much the taste of the future buyers. If you choose to change the carpet, do it with a neutral-colored carpet.
If the room walls are dirty, paint them. Before doing so, make sure that just washing the stains off isn’t enough.
Next, clean and tidy every room. Take out anything that makes your rooms look clogged. Spend some extra time cleaning every corner in your bathroom. Also, place a few scented candles around your home and light them up an hour before your first appointment.
You can also upgrade your house with very little money by changing doorknobs, electrical outlets and light switches. They help differentiate your house from every other house.
When all is done, you want to ask yourself a very important question - one that your buyers will ask themselves - , and answer it in an honest way: If I could choose a house to make my home (everything else equal), would I choose this house? If your answer is negative, ask yourself why and try to fix it so that the answer can be “yes”.
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Did you hear that? Prices of houses in Phoenix have been jumping 5% each month for 2005 according to market experts! Some even predict that the price of housing could jump an additional 10% for the upcoming year. The shortage of houses for sales and the still relatively low interest prices are causing the price of homes not just here in Phoenix but nationwide to escalate. What does this mean? If you are thinking about selling your home, there is no better time than the present. Jump on the bandwagon!
Okay, great, you say. I’ll buy a for-sale-by-owner sign, set it out in the front yard, host an open-house this weekend. I should have my house sold by the end of next week! Well, two months later, that for-sale-by-owner sign is still in the front and you don’t have a buyer. Do not think that just because there is a shortage of houses for sale, selling a house is a piece of cake. It may not as easy as you think. Instead of using a Realtor, you are determined to sell the house yourself. That’s fine and it’s possible. People do it all the time; however, what are some tips to help you prepare your house to sell. I have done the research and found four minimal-cost tips in preparing your sell:
1. Clean-up. The first impression is always the lasting one. You want potential buyers to be impressed the moment that they spot your house from the street. Everything from the yard, to the windows, to every room inside should be squeaky clean. And if you have a collection of, well, several collections of…stuff, it’s distracting to the buyer and really takes away the beauty of your home. If you can’t part with those items, pack them away in boxes. A potential buyer won’t be offended by a few packed boxes in the house. They most likely are expecting you to be preparing to move anyway.
2. Deodorize. This goes hand-in-hand with cleaning your house and removing the clutter. If your house smells, it won’t sell. If the house has been vacant for a while, there is nothing more offensive to a potential buyer than the smell of mildew. Please take care of the mildew before showing the house. And you petowners, understand that your precious little pets that you keep indoors are not odor-less. You just have become accustomed to the smell. A potential buyer will pick up the pet order immediately. The same is true for cigarettes.
3. Re-paint the house. Okay, you may have enjoyed a blue kitchen, an orange living room, and a red bathroom. But your potential buyer may not be as cutting-edge. Experts agree that neutral colors are best in showcasing your house. Also take a second look at the decorations on the wall. Remove anything that could be offensive to your potential buyer.
4. Embrace the sun. I don’t particularly care for the Phoenix heat, but I love the sun. It symbolizes laughter, happiness, brightness, things that are upbeat and positive. Open the blinds and curtain in your house and let the sunshine in!
Remember, you want to impress the potential buyer. By following these four simple tips, you can be a step-ahead of the game in reducing the time it takes to sell your house. However, if you don’t have the time it requires to sell the house yourself and don’t want the expensive of hiring a Realtor, please visit my website to read the free report, Sell Your House in Seven (7) Days at www.adpropertyconsultants.com.
Andrea Groves is a private real estate investor and owner of A & D Property Consultants LLC, a real estate consulting firm. The company specializes in providing property leads for other private real estate investors. Andrea has a Bachelor’s in Business Administration/Leadership and Management and holds two professional certifications in advanced administration. For more information about A & D Property Consultants LLC, please visit the website at http://www.adpropertyconsultants.com
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