Tag Archives: Home Sellers

How to Sell Your Home (While Buying a New Home)

It’s a common real estate predicament: selling the home you currently live in while trying to buy a new one. So… what’s the most efficient way to go about it?

All in all, it depends on your situation. Are you willing to buy a second home without having sold your first one? Or are you relying on the payoff from your current home for the down payment on your new one? Are you relocating? Upgrading? Downsizing? Your reasons for selling will most likely dictate how you’ll go about the process.

So, here are four things to keep in mind when you’re buying and selling a home at the same time.

It’s All About Timing

Group of people consulting a calendar.What works best for you? If you’re selling your home because you’re relocating to a new area, it might more more sense to sell your current home first before buying a new home in a new market.

However, if you have enough money saved up for a down payment, it may be easier to buy your new home first, then sell your old home once you’ve moved to the new one.

So Do Your Research

A great place to start is by researching the market. If there are a lot of buyers and not a lot of homes, this is called a “buyer’s market”, meaning the conditions are ideal for buyers. Oppositely, if there are a lot of buyers and not a lot of homes, the conditions favor sellers (a “seller’s market”). If you’re buying and selling in two different markets, you’ll have to research both.

If you opt to buy before selling, make an offer on the new home with a sale and settlement contingency. You can then request an extended closing.

And Consider Your Money, Money, Money

A pile of money next to a checkbook with a pen.Look closely at your bank account; what is it telling you?

The answer to your current question (Should I buy or should I sell first?) most likely lies within. Begin by meeting with your financial advisor or mortgage lender. You’ll want to look at three main financial factors: a) The amount of money you have in liquid cash, b) The equity in your current home, and c) The amount of the new loan you qualify for.

A big part of this is knowing the resale value of your current home. It’s also a good idea to have a pre-inspection completed on your home, so you can take care of any maintenance issues that might deter potential buyers down the road… and maybe even bump up your home value a bit.

Your Equity is Also Crucial

To find the equity on your home, take its current market value and subtract what’s left on your mortgage.

Need to know the current market value of your home? Use our home evaluation tool! Please reach out to us to learn more.

Work With the Right Realtor

Even if you’re not buying and selling a home at the same time, the right Realtor can transform your real estate experience. A great local agent has the expertise and resources you need for a streamlined, stress-free, and successful real estate transaction.

If you’re in search of an expert agent in the area, we have the experience, resources, and area knowledge to assist you in your upcoming home sale and/or purchase. Give us a call today to learn more.

How to Sell Your Home During Back-to-School Season: A Complete Guide

As summer draws to a close, so dawns every parent’s favorite season: the beginning of another school year. This time of year can be hectic for every parent, but it may become especially overwhelming if you’re also trying to sell your home.

Don’t worry, though! We’re here to help. We’ve come up with a bonafide game plan to help you sell your home, handle back-to-school season, and maintain your sanity. Ready to learn more?

Here’s what you need to do:

Prepare a Fresh Start with Staging

Bright kitchen interior.The first step to staging a home is to create a blank canvas. After all, you want potential buyers to be able to picture their lives in your home. To do that, you’ll need to take down any personal artwork, decorations, or mementos—school accomplishments, artwork your kiddos may have made for you, personal school pictures, and anything else.

While this may seem like a bummer, it is essential to selling your home.

Get Some Extra Storage

Another essential part of staging your home is removing any and all clutter. This may seem impossible with all the new school supplies, clothing, and toys strewn about, but it’s doable—and necessary!

Consider investing in a storage unit to house excess furniture, summer toys, and old clothing, or even replace a bench, ottoman, or coffee table with one that doubles as a storage chest to house excess items.

Plan for Showings (but make it fun!)

Young girl swinging in the park.Guess what time is perfect for back-to-school shopping? House-showing time!

To get kids out of the house during showings, come up with a list of kid-friendly outings or activities you can take.

Consider going to the library, a movie theater, an outdoor park or nature center, or the mall to kill some time as your Realtor shows off your home.

Make a Showing-Prep Checklist

As your Realtor schedules your home for showings, try to request at least a one to two hour buffer for each one. Then, create a checklist for what you need to accomplish to get your home showroom-ready before each tour.

Have bags pre-packed for when you need to be out of the house for an extended period of time. Depending on your kiddos, you may want to have have extra diapers, toys, books, games, snacks, and anything else you may need (and keep your list of outings handy!).

Create a Cozy Atmosphere Before You Head Out

Cute living room with cacti on the table.Before grabbing the kids and making yourself scarce, be sure to create an inviting and warm atmosphere for your buyers. Here are some general tips for last-minute staging:

  • Open all the windows — pull back the curtains, raise the blinds, and let in the light!
  • Light a soft-scented candle (nothing too crazy) or put out a bowl of potpourri to cover up any odors.
  • Set some calm, instrumental music to play in the background.
  • Put out a bowl of treats for potential buyers to munch on as they tour your home.

Want to Sell Your Home Fast (and stress-free)?

Then you need to partner with a real estate agent who knows their stuff. Give us a call today to learn more about how we can help you sell your home for top dollar—without all the extra stress during this busy season.

3 Over-the-Top Home Improvement Projects that Just Aren’t Worth It

If you’re planning on selling your home within the next year or so, you’ve probably already started thinking about the best ways to increase its value. But if you’re not an experienced home flipper or contractor, it can be tricky to know which projects are worth it and which simply aren’t.

To save you time and money (and a lot of hassle), here are some home improvement projects that just aren’t worth it (and what you can do instead).

Replacing Old Cabinets

Beautiful completely upgraded kitchen with new cabinets.Depending on what kind of cabinet material you choose, you could be looking at an estimate anywhere between $1,000 to over $9,000 to completely replace your kitchen cabinets. Materials like laminate are certainly less expensive, but prices on real wood can quickly skyrocket.

As an alternative to completely re-doing your cabinets, you might consider sanding them down and re-staining them yourself (or painting, if they’re laminate) to give them an upgraded appearance.

Extensive Master Bathroom Remodel

Sure, there are plenty of homeowners dreaming of a spa-like master bathroom, but with a bathroom remodel averaging anywhere from $5,000 to over $14,000, it’s probably not worth it.

Instead of dropping thousands of dollars into a complete overhaul, consider some smaller upgrades that can still significantly boost your value. You can give your bathroom a much-needed uplift simply by replacing old sink fixtures, re-caulking the tub and shower, or adding in a stylish backsplash.

Adding on a Room

Man using a power-saw to cut through a floor.The national average for building an additional room on to your home is $42,000. And even with the added square footage, there’s no guarantee it will add much (or any!) resale value to your home. How badly do you need that extra room?

A more worthwhile alternative might be removing or adding a wall to create more space (or another room) without increasing the square footage. Another option is to add a deck, which typically costs only around $6,000 and adds desirable outdoor entertaining space (which has been shown to positively affect home values).

Get More Money From Your Home Sale

With so many home improvement options, it can be tough to decide which ones are best for adding resale value to your property. That’s why it’s so important to work with an experienced Realtor to sell your home.

If you’re interested in selling your home, or simply want to chat about your real estate plans, please don’t hesitate to give us a call. We would love to assist you in making your real estate goals a reality.

What Do Those Home Selling Terms Even Mean?

Real estate lingo can be hard to decipher because, well, there’s so much of it! It might even seem like your Realtor is speaking another language.

From fancy acronyms to words like “escrow” and “riders,” there are a lot of terms out there that might seem totally foreign. But that doesn’t mean you don’t have to know what they mean!

If you’re in the process of selling your home, here are a few real estate acronyms you really should know.

CMA: Comparative Market Analysis

Man's hand resting on the mouse pad of a silver laptop.A comparative market analysis is a great way to research the market and find out what homes in your neighborhood are selling for. It’s an in-depth report that lists the prices of sold homes that are similar to your home (otherwise known as “comps” or “comparables”).

CMAs provide information about homes that were recently sold, home that are currently on the market, and homes that were on the market but were not sold within the listing period.

FSBO: For Sale By Owner

Home sellers who opt not to use a Realtor will list their home as For Sale By Owner. This simply means the homeowner is selling their home without the help of a Realtor and is taking on all the responsibilities of selling their home.

When you choose to sell without a Realtor, you may be saving money on their commission fee, but you’re taking on a lot of additional work and responsibility. Plus, you may end up losing money in the long run if you don’t know how to stage and photograph your home, market it effectively, or price it correctly and competitively.

Escrow

Escrow refers to a number of documents, payments, and other material that are held by a third party. Once you’ve negotiated the sale of your home with a potential buyer, you’ll want to make sure there’s a proper escrow set up.

Basically, when a buyer makes an offer on your home, they’ll write you a check for “earnest money” (kind of like a security deposit or holding fee). This money is held by a neutral third party until you and the buyer negotiate a contract and close the sale.

Since you can’t use the money and neither can the buyer, the money is considered to be in “escrow”.

Contingency

When you’re negotiating the contract of your home sale with the buyer, there are likely to be a few contingencies in your contract. Contingencies protect the buyer if they fail to qualify for a loan, if they are dissatisfied with the results of the home inspection, or if something else falls through.

Carefully consider all terms of the contract, including specific contingencies, when reviewing offers. The more contingencies an offer contains, the riskier it is to accept the offer, as there are more ways it could potentially fall through. Work with your Realtor to negotiate a contract that benefits you and the buyer.

Need a Translator? We’ve Got You Covered

Allow us to handle all the details of selling your property, giving you more time to focus on finding and relocating to your new home. We’ll be there to guide you through every aspect of selling your home, from pricing it to signing the closing paperwork.

Give us a call today to get started.

DIY Upgrades That Make Your Home Sell for More

Spring is upon us, and with spring comes another anticipated time of year: home selling season. Traditionally, spring is one of the most popular times to list a home for sale. It’s also an excellent season for spring cleaning and trying out a few home-improvement projects on the weekends.

If you’re thinking about selling your property, or simply want to up its resale value down the road, take a look at our most recommended home improvement projects. Not only are these projects simple and affordable, they’re sure to increase your home’s overall value.

Two Key Places to Start Your Upgrades

Can you guess which two areas of a home are most important to buyers? The kitchen and bathrooms. This is because these are the rooms where people tend to spend a lot of time.

The Kitchen

Spacious open kitchen with wood floors.Oftentimes, the kitchen is the first place potential buyers rush to when they’re touring a home for sale. This room is considered the “heart of the home.”

While the idea of updating your kitchen can be scary (all those expensive new appliances!), improving this room doesn’t have to break the bank. There are many projects you can complete to upgrade your kitchen that cost less than $1,000.

These inexpensive kitchen improvements include:

Add a Tile Backsplash

This is a relatively affordable project, and if you’re handy enough, you can do it yourself. For a really easy option, purchase backsplash made from a single sheet of material.

Refresh Your Cabinetry

White cabinets in a large open kitchen.It’s as simple as switching out old handles and pulls, painting old cabinets, or replacing cabinet doors with glass-paneled ones.

Quick fixes like this can breathe new life into an older kitchen.

Install a Water Filtration System

While it may not add a whole lot of money to the selling price, this is one small detail that may win over potential buyers. They won’t need to spend extra grocery money on bottled water if they have a water filtration system built in.

The Bathroom

The second most popular room of the house is the bathroom.

If a spa-like renovation isn’t in the budget, don’t worry! There are plenty of ways to update your bathroom without spending thousands of dollars on repairs.

Update Fixtures

Swapping out old sink faucets, towel racks, and drawer pullers can make a huge difference in the bathroom’s overall appearance.

Re-do Caulk and Grout

Pristine white bathtub.Old grout can be quite unsightly, but it’s easy to fix!

Simply scrub the grout clean and add fresh lines of caulk around the tub and sink.

It might take a little elbow grease, but it’s inexpensive and can make your bathroom look cleaner and newer.

Save on Countertop Upgrades

Have your heart set on granite countertops? You can save money by buying a slab containing imperfections. Since the sink takes up most of the surface area, you may not even notice the imperfections!

Other Simple Fixes that Add Value to Your Home

Large home improvement projects aren’t the only way to add value to your property! There are a host of other small upgrades that can freshen up the rest of your home and increase its value to home buyers.

Add Some New Paint

Happy couple in dirty overalls sitting on the floor of a freshly painted room.Gather your friends and spend the weekend painting! Opt for high-quality paint with a satin finish. Don’t forget plenty of painter’s tape to protect moulding, fixtures, or light switches, as well as sheets to cover flooring.

Opt for neutral colors like slate gray and ivory, or popular colors like aqua and cool green. However, when it comes to selling a home, neutral colors are best.

Replace Old Light Fixtures

Dull, dim, or tarnished fixtures can make a room seem older and darker. Fortunately, upgrading lighting can be fairly simple. This could be anything from updating overhead lighting to replacing fluorescent bulbs. Bonus points for energy efficient features like LED bulbs! Opt for less expensive lighting if you need to hire an electrician.

Another easy lighting upgrade is replacing traditional light switches with dimmers.

Need More Recommendations for Upping Your Home Value?

We’ve got your back. We’d love to give you a list of home improvement projects that will get you the most bang for your buck. All you have to do is ask.

Give us a call today to get started.

Staging Shortcuts That Sabotage Your Home Sale

Home staging is a major player in a home sale. How your home looks, feels, and even smells can influence buyers’ decisions, so it’s important to present your home in the best light.

Cleaning, decluttering, and rearranging furniture are essential to preparing your home for showings, but it can be tempting to take a few shortcuts to get your property on the market faster. Out of all the home staging shortcuts that can hinder your home sale, these you should avoid at all costs.

Keeping Your Interiors Too Dark

A dimly lit kitchen with tile floors, wood cabinets, and laminate countertops looking out onto a dimly lit dining area.Your property needs to shine on the market — don’t dim your home’s sparkle.

Natural light works wonders to maximize space, especially for small floor plans, so it’s important to let in as much sunlight as possible when staging your home.

Throw open the curtains, trim any shrubs blocking the windows, and polish the glass to welcome in the natural sunlight.

Painting All of Your Walls Bright, Bold Colors

Nothing stops home buyers in their tracks faster than loud paint colors that don’t match their personal style. After all, one buyer may prefer rich earthy reds while another may be drawn to calming blues and greens.

Instead of painting your walls in oranges, purples, and electric greens, opt for neutral tones like off-white or beige to appeal to as many home buyers as possible.

Painting All of Your Walls Neutral Colors

On the other hand, you can go too far with neutralizing your space. Remember, home buyers are likely looking at several different properties, so you need to make sure yours stands out — and that buyers can envision themselves living in your home.

An open concept living room with beige couches in the foreground and a modern kitchen in the background.Splashes of color here and there are enough to draw buyers’ eyes without distracting them from the overall look and feel of your home.

The trick is to find a balance between the bold and the neutral colors.

Need advice? We’re more than happy to provide some pointers.

Forgetting to Deodorize Your Home

Home buyers can fall in love with a property merely from the listing photos. But if a foul odor greets them at the front door, they won’t stick around for long.

It can be tricky to determine what your home smells like since you have lived in it for so long. But there are a few tricks you can use to ensure your home smells fresh and clean for each buyer who schedules a showing:

  • Open the windows to air out your home
  • Hire a professional to deep clean your home
  • Light candles with simple scents, such as orange or vanilla
  • Ask a friend or neighbor for honest feedback

We’re Happy to Share More Home Selling Resources

The whole goal of home staging is to present your property in the best light, both for listing photos and for potential buyers. If you have questions about what it takes to sell and market your home, give us a call and let’s chat.