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Posted: 03 Feb 2015 04:00 AM PST
 1. There Are Too Many People to Negotiate WithHere is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:
2. Exposure to Prospective PurchasersRecent studies have shown that 88% of buyers search online for a home. That is in comparison to only 21% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?3. Results Come from the InternetWhere do buyers find the home they actually purchased?
4. FSBOing has Become More and More DifficultThe paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years.5. You Net More Money when Using an AgentMany homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission. Studies have shown that the typical house sold by the homeowner sells for $208,000 while the typical house sold by an agent sells for $235,000. This doesn’t mean that an agent can get $27,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.Bottom LineBefore you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer |
Thursday, February 26, 2015
5 Reasons You Shouldn’t For Sale By Owner
8 Home Renovations That Will Pay You Back
When you own a home, it seems like there is almost always something you would like to do to make it more comfortable, attractive, or eco-friendly. But, home remodeling experts tell us, if you plan to sell your home at some point, put your time and effort into one of more of these renovations proven to pay you back because they increase the value of the property:
New garage doors – Nothing says curb appeal like attractive garage doors – and you can’t beat the bang for the buck. A mid-range replacement will likely return more than 80 percent on your investment.
A wood deck – Here’s a renovation you are likely to enjoy – and a $10,000 investment will also return about 80 percent of what you spent.
Exterior siding – New siding will not only give your home a major facelift. It will return a strong 87 percent on project costs of about $14,000.
Attic conversions – Adding another bedroom or playroom upstairs give a home more usable living space without increasing its footprint. The remodel investment will likely return 84 percent of a $50,000 project cost.
Kitchen updates – No need to overhaul the entire kitchen, experts say. Upgrading the counters, and replacing cabinets and appliances will likely cost about $18,000 – and will return some 97 percent of cost. Oddly, a big-ticket total kitchen remodel costing over $100,000 may only return 63 percent of the investment.
New windows – New, energy–efficient windows throughout your home will save you money on heating and cooling bills – and you will probably get a return of 79 percent on a $10,000 investment.
Basement remodel – Another great way to add living space to a home is with a basement remodel. Adding insulation and flooring, and upgrading the walls and ceiling may cost as much as $60,000. But return on investment is estimated at 77 percent.
Back-up power generator – The unpredictable weather of the past few years has led to a surge in the popularity of this relatively inexpensive home addition. An average cost of $11,000 could net you a 67 percent return on your investment.
New garage doors – Nothing says curb appeal like attractive garage doors – and you can’t beat the bang for the buck. A mid-range replacement will likely return more than 80 percent on your investment.
A wood deck – Here’s a renovation you are likely to enjoy – and a $10,000 investment will also return about 80 percent of what you spent.
Exterior siding – New siding will not only give your home a major facelift. It will return a strong 87 percent on project costs of about $14,000.
Attic conversions – Adding another bedroom or playroom upstairs give a home more usable living space without increasing its footprint. The remodel investment will likely return 84 percent of a $50,000 project cost.
Kitchen updates – No need to overhaul the entire kitchen, experts say. Upgrading the counters, and replacing cabinets and appliances will likely cost about $18,000 – and will return some 97 percent of cost. Oddly, a big-ticket total kitchen remodel costing over $100,000 may only return 63 percent of the investment.
New windows – New, energy–efficient windows throughout your home will save you money on heating and cooling bills – and you will probably get a return of 79 percent on a $10,000 investment.
Basement remodel – Another great way to add living space to a home is with a basement remodel. Adding insulation and flooring, and upgrading the walls and ceiling may cost as much as $60,000. But return on investment is estimated at 77 percent.
Back-up power generator – The unpredictable weather of the past few years has led to a surge in the popularity of this relatively inexpensive home addition. An average cost of $11,000 could net you a 67 percent return on your investment.
Tuesday, February 24, 2015
Homeownership Rates: Are they Crashing?
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Posted: 18 Feb 2015 04:00 AM PST
 Easy… Chicken LittleThe national homeownership rate peaked in 2004, representing a 69.2% of Americans who bought vs. rented their primary residence. Many have noticed a decline in rate since then and taken that as a bad sign. However, if you look at the national rate over the last 30 years (1984-2014), you can see that the current homeownership rate has returned closer to the historic norm. 2014 ended the year with a rate of 64% just under the rate in 1985 and 1995. Bottom LineWith interest rates and prices still below where experts predict, evaluate your ability to purchase a home with a local real estate professional. |
Monday, February 23, 2015
Many of us learned our cleaning habits growing up. For every cleaning tip that has served us well over the years, there’s another that’s all smoke-and-mirrors. Here are some of the most common cleaning myths and mistakes:
• Carpets: It is a myth that carpet cleaning does more harm than good. Some homeowners have
become so petrified of these dangers that they neglect any form of carpet cleaning. Most of
these dangers— mold, odors, shrinkage—arise from carpet that is left too wet for too long. If
you hire a reputable company or invest in solid carpet cleaning equipment, your carpet will be
fine and have better durability.
• Wood Cabinets and Furniture: It is a myth that consistently applying wood polish is the best
thing for maintaining wood. The interaction between the polish's chemical composition and the
wood can attract excess dust or even dull the finish. Consistent dusting may be enough to keep
your wood looking good. Otherwise, stick to the;manufacturer's recommendations.
• Tile Grout: The myth here is the degree of difficulty in cleaning tile grout. After removing as
much dirt as you can with water, you can use baking soda with a little bit of vinegar or a
pH-balanced cleaning solution to clean your grout . Still, many homeowners choose to hire a
pro, since the process is tedious and time-consuming — and homemade solutions won't come
close to the clean provided by professional, high-powered water vapor systems.
become so petrified of these dangers that they neglect any form of carpet cleaning. Most of
these dangers— mold, odors, shrinkage—arise from carpet that is left too wet for too long. If
you hire a reputable company or invest in solid carpet cleaning equipment, your carpet will be
fine and have better durability.
• Wood Cabinets and Furniture: It is a myth that consistently applying wood polish is the best
thing for maintaining wood. The interaction between the polish's chemical composition and the
wood can attract excess dust or even dull the finish. Consistent dusting may be enough to keep
your wood looking good. Otherwise, stick to the;manufacturer's recommendations.
• Tile Grout: The myth here is the degree of difficulty in cleaning tile grout. After removing as
much dirt as you can with water, you can use baking soda with a little bit of vinegar or a
pH-balanced cleaning solution to clean your grout . Still, many homeowners choose to hire a
pro, since the process is tedious and time-consuming — and homemade solutions won't come
close to the clean provided by professional, high-powered water vapor systems.
• Flooring, Countertops and Fixtures: It is a myth that bleach effectively cleans these surfaces.
You must first clean them, then disinfect them with bleach or a similar product. Without first
removing the dirt and food particles, germs can linger even after a bleach application.
You must first clean them, then disinfect them with bleach or a similar product. Without first
removing the dirt and food particles, germs can linger even after a bleach application.
• Gutter Cleaning: Contrary to popular belief, you can't just throw the leaves out of your gutter
and call it a day. Good gutter cleaning involves identifying leaks, checking seams and flushing
downspouts to prevent clogging. You must also thoroughly clean the channels and ensure that
gutters are draining properly.
and call it a day. Good gutter cleaning involves identifying leaks, checking seams and flushing
downspouts to prevent clogging. You must also thoroughly clean the channels and ensure that
gutters are draining properly.
Window Washing: It is a myth that using a squeegee will provide the same results as a
professional window washing service. Ever wash your windows and find them dirty by the time
summer rolls around? Many homeowners use paper towels, squeegees, or rags that cause
static to build up on window glass and attract new dust. Professional window washing uses a
specific methodology that most homeowners are either unable or unwilling to duplicate.
• Painting, Staining and Sealing: More so than myths, mistakes with these projects generally
involve bad habits or practices. The work may not be the most technically demanding, but
knowing which type of paint works best for your climate can save you dozens of labor hours
and extend the lifetime of the paint job. "A poor paint job can last as little 3 years before it needs
attention," says home improvement expert Matt Goering, "A good one can last for upwards
of 20."
• Professional vs. DIY Maintenance: Perhaps the most pervasive myth is that you're a wimp
if you don't do your own maintenance. People with hectic schedules can easily justify the costs
of hiring a handyman, especially if you can bundle your project list into one full day's work.
Professional maintenance also includes professional experience and expertise.
professional window washing service. Ever wash your windows and find them dirty by the time
summer rolls around? Many homeowners use paper towels, squeegees, or rags that cause
static to build up on window glass and attract new dust. Professional window washing uses a
specific methodology that most homeowners are either unable or unwilling to duplicate.
• Painting, Staining and Sealing: More so than myths, mistakes with these projects generally
involve bad habits or practices. The work may not be the most technically demanding, but
knowing which type of paint works best for your climate can save you dozens of labor hours
and extend the lifetime of the paint job. "A poor paint job can last as little 3 years before it needs
attention," says home improvement expert Matt Goering, "A good one can last for upwards
of 20."
• Professional vs. DIY Maintenance: Perhaps the most pervasive myth is that you're a wimp
if you don't do your own maintenance. People with hectic schedules can easily justify the costs
of hiring a handyman, especially if you can bundle your project list into one full day's work.
Professional maintenance also includes professional experience and expertise.
Not keeping priorities straight is the overarching mistake most homeowners make. Specifically, they often care more about things appearing clean than actually being clean. From reducing the risk of infection and other health hazards to increasing the life expectancy of your home furnishings, it’s easy to see why you should spend the time giving your home the deep cleaning it deserves.
Saturday, February 21, 2015
Staging Curb Appeal for Web Appeal
In today’s real estate market, curb appeal is about more than neighborhood drive-bys and official home showings. That’s because, if there’s one thing you can bet about today’s potential homebuyer, it’s that he or she is searching online. Thanks to a bevvy of easy-access real estate websites, it’s simpler than ever for anyone with a computer and an Internet connection to find details about homes for sale. And whether you’ve got a listing filled with photos or none at all, interested buyers can input your address and view the front of your home through Google’s Street View.
So how does your property look? When a potential buyer pulls up a picture of the front of your home, will it delight or disgust? To help you make sure you’re making the most of your online curb appeal, here are some specific tips for strategically staging the exterior of your home.
Clean Up the Landscaping: Buyers like a fresh, manicured appearance, so if you have any overgrown bushes or trees, take care of them fast. Mow the lawn regularly. Rake the leaves. Cut down rotted trees. Sweep away debris on walkways or the front porch. Add colorful flowers. Not only can caring for your plants and lawn improve the way your home looks to buyers — it can showcase more of your house. Free from overgrown brush, your residence will be front and center, ready for buyers to fall in love.
Declutter: Sure, you love the wacky, colorful lawn furniture your aunt made you — but to buyers, they just look cheap and junky. That’s why you need to get rid of all clutter and personal artifacts when selling. Toys, furniture, lawn ornaments, signs — anything that doesn’t make a home’s curb appeal look more beautiful and inviting should go. Make it as easy as possible for buyers to imagine themselves calling your property home.
Make Any Needed Repairs: If the front of your home needs work, that will be the first thing buyers notice. Repair or remove the broken storm door. Replace the dingy home numbers. Switch the busted porch light. Get that broken window fixed. When buyers pull up your home’s photo you want them to notice how pretty it looks, not how much work they’d have to do to fix it.
Update the Façade: Whether you replace all the siding completely or pay for a professional paint job, you want to find a way to update your home’s exterior. Make it look fresh and clean with a new look, one that modernizes your home’s style or simply shows that the property has been cared for.
Power Wash the Deck: It won’t cost a bundle to power wash your front deck, but it will go a long way toward improving the look of your home. If you don’t own a power washer, rent one for the day from a local home-improvement store.
Clean Up the Garage: It should go without saying that the garage needs to look its best when your home is on the market, particularly if it has front-facing doors. Repair any damages and, if the budget allows, consider replacing outdated doors with something a little more eye-catching like custom doors that feature windows at the tops. While you’re at it, declutter and clean out the inside of the garage — in order to make it a place to store cars and not all your out-of-season storage items.
Staging your home’s curb appeal for the Web does take time and money, but it’s an investment well worth the effort. In return for your updates, you’ll gain a home that’s worth more to potential buyers, as well as one that will draw in prospects the minute they see it on their computer screens. Use the tips above to get started!
So how does your property look? When a potential buyer pulls up a picture of the front of your home, will it delight or disgust? To help you make sure you’re making the most of your online curb appeal, here are some specific tips for strategically staging the exterior of your home.
Clean Up the Landscaping: Buyers like a fresh, manicured appearance, so if you have any overgrown bushes or trees, take care of them fast. Mow the lawn regularly. Rake the leaves. Cut down rotted trees. Sweep away debris on walkways or the front porch. Add colorful flowers. Not only can caring for your plants and lawn improve the way your home looks to buyers — it can showcase more of your house. Free from overgrown brush, your residence will be front and center, ready for buyers to fall in love.
Declutter: Sure, you love the wacky, colorful lawn furniture your aunt made you — but to buyers, they just look cheap and junky. That’s why you need to get rid of all clutter and personal artifacts when selling. Toys, furniture, lawn ornaments, signs — anything that doesn’t make a home’s curb appeal look more beautiful and inviting should go. Make it as easy as possible for buyers to imagine themselves calling your property home.
Make Any Needed Repairs: If the front of your home needs work, that will be the first thing buyers notice. Repair or remove the broken storm door. Replace the dingy home numbers. Switch the busted porch light. Get that broken window fixed. When buyers pull up your home’s photo you want them to notice how pretty it looks, not how much work they’d have to do to fix it.
Update the Façade: Whether you replace all the siding completely or pay for a professional paint job, you want to find a way to update your home’s exterior. Make it look fresh and clean with a new look, one that modernizes your home’s style or simply shows that the property has been cared for.
Power Wash the Deck: It won’t cost a bundle to power wash your front deck, but it will go a long way toward improving the look of your home. If you don’t own a power washer, rent one for the day from a local home-improvement store.
Clean Up the Garage: It should go without saying that the garage needs to look its best when your home is on the market, particularly if it has front-facing doors. Repair any damages and, if the budget allows, consider replacing outdated doors with something a little more eye-catching like custom doors that feature windows at the tops. While you’re at it, declutter and clean out the inside of the garage — in order to make it a place to store cars and not all your out-of-season storage items.
Staging your home’s curb appeal for the Web does take time and money, but it’s an investment well worth the effort. In return for your updates, you’ll gain a home that’s worth more to potential buyers, as well as one that will draw in prospects the minute they see it on their computer screens. Use the tips above to get started!
Monday, February 16, 2015
5 Reasons You Shouldn’t For Sale By Owner
Some homeowners consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers. Here are five reasons:
1. There Are Too Many People to Negotiate With
Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:
The buyer who wants the best deal possible
The buyer’s agent who solely represents the best interest of the buyer
The buyer’s attorney (in some parts of the country)
The home inspection companies which work for the buyer and will almost always find some problems with the house.
The appraiser if there is a question of value
2. Exposure to Prospective Purchasers
Recent studies have shown that 88% of buyers search online for a home. That is in comparison to only 21% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?
3. Results Come from the Internet
Where do buyers find the home they actually purchased?
43% on the internet
9% from a yard sign
1% from newspaper
The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.
4. FSBOing has Become More and More Difficult
The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years.
5. You Net More Money when Using an Agent
Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission. Studies have shown that the typical house sold by the homeowner sells for $208,000 while the typical house sold by an agent sells for $235,000. This doesn’t mean that an agent can get $27,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.
Bottom Line
Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.
1. There Are Too Many People to Negotiate With
Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:
The buyer who wants the best deal possible
The buyer’s agent who solely represents the best interest of the buyer
The buyer’s attorney (in some parts of the country)
The home inspection companies which work for the buyer and will almost always find some problems with the house.
The appraiser if there is a question of value
2. Exposure to Prospective Purchasers
Recent studies have shown that 88% of buyers search online for a home. That is in comparison to only 21% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?
3. Results Come from the Internet
Where do buyers find the home they actually purchased?
43% on the internet
9% from a yard sign
1% from newspaper
The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.
4. FSBOing has Become More and More Difficult
The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years.
5. You Net More Money when Using an Agent
Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission. Studies have shown that the typical house sold by the homeowner sells for $208,000 while the typical house sold by an agent sells for $235,000. This doesn’t mean that an agent can get $27,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.
Bottom Line
Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.
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