October 2017 M T W T F S S « Mar 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
- Spring has sprung….
- Have you outgrown your home?
- Take a LEAP this year.. to a new PAD
- Buying a house on emotion
- Owning a Home makes Finanical Sense
- Zeeba Hills, Hartford, WI – FOR SALE NOW!
- Can you become a FLIPPER?
- Is it better to sell your home or rent it out?
- Why buy a home?
- Ease – yyyyy
- Take a good look
- It’s Open house time — Are YOU ready?
- Women and Home Buying
- How to know if you are ready to buy a house
- Now or Later – You make the call
- Are you self emplyeed and wanting to buy a house?
- Do you know how much your home is really worth?
- Don’t move it!
- I was already PRE- Qualified
- How Much Does My Agent Need to Know About My Finances?
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Preparing your home for an open house can be a little like getting ready for a blind date. You don’t know what you may be facing but it is important to look your best. Open houses can often be stressful for homeowners because they know that strangers will be tromping through the door evaluating every last detail. You know the home needs to be as clean as possible but here are a few other things to keep in mind as you prepare.
Depersonalize as much as you can: You don’t want strangers seeing all your personal stuff and that’s reason enough to put photos, awards and sentimental objects elsewhere but there’s another reason as well. All that stuff is distracting and your potential home buyer could spend more time looking at what is in the home than actually seeing their lives taking place there. Your goal is to have your home appear as a blank slate, just waiting for a new buyer to make their mark. Pets should be out of the home not just for the day but ideally for a few days in order to allow any lingering odors to dissipate.
Don’t shove it all in the closet: You’ve got clutter, you need to get it out of sight, at least temporarily. The first instinct might be to move it all out to the garage, put it up in the attic, stack it in the basement, or fill up the closets. But remember your potential buyer probably has a fair amount of clutter too. They will be looking at all those storage spaces and the more available room they see, the more it will look like your home has all the space they need. Ask relatives or friends if you can temporarily store some items with them. You can also rent a storage space. The important thing is to make your home appear spacious and inviting.
Warm it up: The old trick of baking bread or cookies works to appeal to clients because it makes the home feel warm and lived in. Scented candles can work a similar magic. Fresh flowers or plants are also a nice touch and one that stagers often use. Another trick from stagers is to use colorful pillows and softly draped throws to provide a bit of color in bedrooms and living spaces. The home needs to be depersonalized but it still needs to look lived in and so a stack of plates left on the counter, fruit in the fruit bowl, towels in the bathroom, all go toward showing that the home is a great place to live.
Keep it bright: Light sells homes. Windows should be freshly cleaned on both the inside and the outside for maximum sunlight potential. Also go around and check to make sure all your light bulbs are working and that they are bright enough to really show off the rooms to their best advantage. Open all curtains and shades and take down any heavy curtains that might block some of the light streaming in.
Make a day of it: You know you shouldn’t be hovering around your open house but instead of going down to the local coffee shop and waiting until it’s over, reward yourself with a real mini vacation. Even the happiest of moves are stressful, so defuse some of that by taking yourself and your family out for a little reward. Put some distance between you and the home by going on a small day trip. Then later you can reconnect with your Realtor after he or she has had time to gather up all the impressions about the home.
Remember, you may not get an offer on the first day but an open house can lead to future showings and an eventual sale.
How Much Is Your Home Really Worth?
If you’re thinking of selling your home, you may be fantasizing about the profit you’ll reap from the sale or calculating exactly how much you’ll need to pay off your current mortgage and have enough left over for a down payment on the next house.
Before your fantasies run amok you need to realize that, while you can estimate the value of your home in a variety of ways, the true value is only what a buyer will pay for it. That said, there are several ways to get a strong idea of how much a buyer will pay for the property in current market conditions.
What Your Home Isn’t Worth
Many homeowners find it confusing that there are various numbers floating around that indicate their home value. Here are a few:
Comparative Market Analysis
A REALTOR® can do a comparative market analysis with recent market data to help you estimate your home value. When you sell your home, an appraisal will be required by the buyers’ lender, so keep in mind that your home has to appraise for the selling price or, depending on how your contract is written, you’ll have to renegotiate the sale or the buyers will need to come up with extra cash.
A CMA is both an art and a science. While it’s based on data, it also requires local market knowledge and intuition about which homes to compare and how to interpret the prices. Most realtors will look for recent sales of homes that are similar to yours, preferably within the past two or three months, up to about six months. In addition, a realtor can look at other homes currently on the market and homes that didn’t sell that were taken off the market to compare values.
The comparison of your home with others should include not only the size and the number of bedrooms and baths, but also the condition of your home, the neighborhood and the proximity to amenities. If you do not understand the comparisons a realtor is making, ask to see some of the homes currently on the market or look online at photos of the properties.
While it may be tempting to list your home with the realtor who tells you it can sell at the highest price, a smarter way to sell your home is to price it as accurately as possible from the beginning. Studies show that an overpriced home that lingers on the market will end up selling for less than the estimated correct price.
Give Your House a Physical
Would you buy a car without checking under the hood? Of course you wouldn’t. Hire a home inspector. It’ll cost about $200 but could end up saving you thousands. A home inspector’s sole responsibility is to provide you with information so that you can make a decision as to whether or not to buy. It’s really the only way to get an unbiased third-party opinion. If the inspector does find any issues with the home, you can use it as a bargaining tool for lowering the price of the home.
It’s better to spend the money up front on an inspector than to find out later you have to spend a fortune.
Lisa Bear of RE/MAX (262-893-5555)
an experienced real estate agent in Wisconsin, Waukesha County & the entire Milwaukee Metro. Wisconsin Lake Living.