Tuesday, June 2, 2009
Tuesday, March 17, 2009
How to Improve Changes to Sell Your Home Quickly
Over the years I have read numerous artices and been given advise on how to sell homes more quickly. Now, we have to assume that your home is priced properly with a strategy to sell it, right? Don't get confused that real estate people just want to sell you home at a low price to earn that commission quickly. Some do, we don't. But you do need to be priced correctly so as to attract offers. Remember, all the marketing in the world will not sell an overpriced property.
To get to the point. Some of the things suggested always are on lists we see. Some cost money, others don't cost too much and can be done easily by a seller. In a recent online article several changes that make your home more attractive than the competition were discussed. Here are my notes:
To get to the point. Some of the things suggested always are on lists we see. Some cost money, others don't cost too much and can be done easily by a seller. In a recent online article several changes that make your home more attractive than the competition were discussed. Here are my notes:
The first three items are almost always mentioned. And, they do make that significant difference between attracting a "good" offer rather than a low ball one. Plus, they don't cost a lot of money. It is true that first impressions are lasting impressions. Your home's "curb appeal" tells prospective buyers volumes about you and the manner in which you have cared for your home. A messy yard, dirty windows and front door make that first impression a negative one. Put yourself in the shoes of the buyer and you can figure it out pretty quickly.
The last two items do involve some significant expense and should not be considered as absolutely necessary to sell a property. However, if you buy a new fridge, buy a stainless steel model. And if you do any remodeling, consider the move of a laundry area from the basement to an upper floor in the same way you would look at a kitchen or bath remodel.
The real estate industry publishes yearly data to show what remodel projects add value to the resale of a home. Outside of simple paint fixes in interior rooms or the front door, none of the remodel jobs are recouped in a sale. The point here is that when you do a remodel, do it so you can enjoy the updates. And, at the same time consider the investment to sell your home in the long run.
Be sure to visit us on the Inernet at SaltLakeListings.com and check out the home we currently have for sale. And, be sure to contact us with any specific questions you have about real estate today.
Friday, March 13, 2009
It's Time to Buy
Now, that's a pretty bold statement. And it does come with some qualifications. But doesn't everything in life.
There are definitely times when buying and selling real estate makes good business sense. The circumstances today present a "perfect storm" advantage. To see if you can leverage things to your advantage here are some of our guidelines. Prices in most areas of the
country are down, including Salt Lake City. There are bargains to be had. A home that sold two years ago for $970,000 was purchased in November 2009, by one of our customers for $465,000. Not bad. The other important factor in favor of buying now, rates are great. Low interest rates can allow a buyer to get into a higher priced home they could afford a couple of years ago. But the real savings comes in the form of actual dollars saved in monthly payments each month and the total interest expense over the term of the loan.
The market mentality today is interesting. Some truths and perceptions held today include:
While no one has the all magical crystal ball to know what will happen tomorrow the factors present today should be considered advantageous to buyers.
Who should consider buying now?
Who should not buy?
People who want to downsize to a smaller less expensive home may want to consider waiting it out to better improve what they can get for their existing home. It's not a good time to sell when you downsize at this time.
Who should sell?
Otherwise, don't sell your home. Unless it makes sense in the example of when to sell, don't sell your home now. Wait it out.
Now, that's a pretty bold statement. And it does come with some qualifications. But doesn't everything in life.
There are definitely times when buying and selling real estate makes good business sense. The circumstances today present a "perfect storm" advantage. To see if you can leverage things to your advantage here are some of our guidelines. Prices in most areas of the
country are down, including Salt Lake City. There are bargains to be had. A home that sold two years ago for $970,000 was purchased in November 2009, by one of our customers for $465,000. Not bad. The other important factor in favor of buying now, rates are great. Low interest rates can allow a buyer to get into a higher priced home they could afford a couple of years ago. But the real savings comes in the form of actual dollars saved in monthly payments each month and the total interest expense over the term of the loan. The market mentality today is interesting. Some truths and perceptions held today include:
- Prices may go lower in the next while
- Sellers will become more desperat to sell later
- Prices are good for buyers
- Some selleres have to sell and are willing to negotiate
Interest rates may change
While no one has the all magical crystal ball to know what will happen tomorrow the factors present today should be considered advantageous to buyers.
Who should consider buying now?
- First time homebuyers (the government is offering an $8000 tax credit)
- Buyers wanting a larger, more expensive home
- Seasoned investors in it for the long run
While an existing homeowner may want to wait until their property value comes back, any home they may want to buy in the future will likely increase in price. Those buyers should consider selling for less and buying a larger home for less now. Paying interest on an additional $20,000 or $50,000 on a new loan when prices come back does not make sense.
Who should not buy?
People who want to downsize to a smaller less expensive home may want to consider waiting it out to better improve what they can get for their existing home. It's not a good time to sell when you downsize at this time.
Who should sell?
- Sell your existing home only if you are buying a larger more expensive home
- Sell you home if you are facing foreclosure, do a "short sale"
- Sell if you have to sell such as for a job transfer out of state, or liquidate an estate, or you cannot care for the home, etc.
Otherwise, don't sell your home. Unless it makes sense in the example of when to sell, don't sell your home now. Wait it out.
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