Slowing Real Estate Market – What You Need to Know as a FSBO Seller

If you're thinking of selling your home without the help of a real estate agent, you'll need to be prepared for a bit more work. Here's what you need to know about selling in a buyer's market.

There have always been sellers who have been willing to forgo the help of a professional real estate agent to avoid the commission costs of their services. In the brisk seller’s market of recent years, FSBO (For Sale By Owner) listings could easily gain attention through a simple online listing and a yard sign (And yet they still averaged a sales price of 10% or more less than agent listed properties). As the market shifts away from this frenzy, FSBO sellers may need to reexamine their strategy.

In a buyer's market, FSBO listings need to be extra creative in order to pique buyers' interests. Platforms like Zillow and Trulia offer the ability to add videos and pictures to your listing, as well as open houses. You can also try agents who offer a limited listing on the MLS (Multiple Listing Service) for a small fee.

Most importantly, selling without an agent is more work for the seller. As the market slows, a FSBO must be prepared for a longer wait to sell their home. Additionally, with falling home prices, the longer it takes to sell your home, the more money you stand to lose. If it is a greedy seller, the seller will likely continue to receive frustrating low ball offer. It is extremely challenging to represent yourself when selling property- especially when you do not know what the heck you are doing, what the contracts really mean as far as responsibility go, and you are an easy target for agents to negotiate with.

Enjoy the phone calls from hundreds of agents trying to list your property as well! If that does not sound appealing to you, give me a call instead and let’s sell your house with a real strategy.

What Stays With The Home?

More than one seller has been surprised to find that their favorite chandelier is not theirs to take when they move. First-time home sellers might be especially confused when confronted with an exclusion form presented by their agent. Understanding what is, and is not included in the sale by statute is important to avoid disappointment on both sides.

The first rule of thumb is to consider if the item is nailed down, bolted, mounted, or planted. This covers a wide range of items both inside and outside the home. This might seem simple enough, but the debate about what constitutes a “fixture” has caused many post-sales lawsuits. Fixtures will stay with the home unless specifically excluded. This includes light fixtures, shelves, cabinets, built-in shelves, and more.

Consider the mount for the big-screen TV. It might seem logical to assume the mount would go with the TV when the sellers leave, but technically it’s likely considered a fixture as it’s bolted to the wall. What about a window-mounted air conditioner? If it’s sitting in the window, it’s typically personal property, if there is a hole in the wall to accommodate it, then it’s a likely fixture.

Outdoor items are subject to the same rules. Anything planted in the yard goes with the home, as does furniture or other items bolted to the ground. In that scenario, an arbor or patio cover bolted to a concrete slab would stay. Contrary to everything just outlined, however, curtains typically go with the home.

The language in the Pennsylvania Agreement of Sale lists standard inclusions for home sales. We will review this in detail!

If you are ready to buy or sell a home, make sure and discuss with your agent what you want to add or exclude to the sale. This is the best way to avoid disappointment at best or a courtroom at worst.

8 Things Buyers Notice

8 Things Buyers Notice as Soon as they Walk In

Buyers notice everything – good and bad. From the moment they walk in the front door, they are trying to determine if this is the right home for them and their family. If you have your home listed for sale, paying attention to what the buyers notice can mean the difference between an offer and a missed opportunity.

8 Things Buyers Notice as Soon as they Walk In

1.     Light – A bright home is inviting. Make sure you fill your home with lots of natural light or a soft evening glow.

2.     Smell – Nothing is less inviting than a strong odor. Even candles and air fresheners can be overwhelming. Less is more and make sure nothing unpleasant is lingering.

3.     Space – Remove any unneeded furniture and offer a spacious home which flows.

4.     Ceilings – Of course you can’t make your ceilings higher, but make sure they are free from water stains because buyers will look up.

5.     Pictures and Personal Items – Remove personalization as much as possible so the buyers can imagine their family in the home.

6.     Outdated Furnishings and Fixtures – If your home is filled with hand-me-downs, consider a professional stager. Old wall paper or outdated paint colors should be replaced as well.

7.     Dirty, Grimy Rooms – Most important, clean everything thoroughly. Nothing is less appealing than a dirty home.

Tips for Buying and Selling at The Same Time

Tips for Buying and Selling at the Same Time

Either buying or selling a home can be extremely stressful, it can be even more overwhelming if one is trying to do both at the same time. The good news is that this happens all the time and by following a few simple tips, both buying and selling can be a seamless process.

Tips for Buying and Selling at the Same Time

The good news is that you’re planning to move any way. Before you list your home for sale, why not start packing now? Take personal items and excess furnishings and pack them up and move them to storage. Not only will your home look larger and neater, you are getting a start on the move.

Next make sure your agent, or agents, understands the timeline and requirements. There are many standard contingencies which can protect you from owning two homes at once, or none at all. Not only can the purchase of your new home be contingent on successfully closing on your current one but you can also reverse the process and ensure you find a replacement before the close as well.

Finally, get the entire family involved. Be excited about the change and create a moving plan in which everyone has a task and there is a plan for the move itself. By taking a few initial steps, moving can be fun and easy.

Top Reasons Your House Expired

Top Reasons Your House Expired

There’s nothing more discouraging than having your listing expire. You’ve gone to all the trouble of staging your home, spending weekends and evenings running out the door to accommodate last minute showings and have nothing to show for it. The good news is there are real reasons why your home didn’t sell. Understanding these reasons can help you do things differently when you relist.

• Condition – Most home buyers are able to see beyond slight imperfections, but it’s important to offer a clean, neat home free from chipping paint, clutter and debris.

• Photographs – Most of today’s buyers start their home online, you must showcase your home through media first in order to entice the buyers to make an appointment.

• Price – One of the worst things a seller can do is “test the waters.” Many buyers will write off the home because they view you as unrealistic. After a listing has been on the market for a while, buyers then assume there is something wrong with the home, when in fact the sellers are just waiting for an offer.

• Poor Exposure – Homes don’t sell themselves, buyers need to see the home. Make showings easy by using a lockbox and allowing your agent to hold open houses.

• Wrong Agent – Not all agents are alike. The agent needs to be actively involved in the sale, not simply waiting for offers to land in their inbox.

Avoid the frustrating experience of having your home listing expire by understanding ahead of time the possible issues which can cause the listing to sit on the market. Knowing the possible pitfalls reduces the chance of an expiring listing and helps you sell your home for a great price and terrific terms.

Contact me and find out why you need a pro-active real estate agent representing your home sale.

The Internet Isn't Your Agent

The Internet Can’t Replace Your Agent 

We live in the information age; the Internet offers advice on every topic and real estate is no exception. With more and more home buyers starting their home search online, they are bombarded with advice and information – it can be easy to think that you can learn everything you need to know just by reading articles online.

The truth is your real estate agent does much more than answer your questions and open doors with a special key. A professional real estate agent will be there every step of the way. They have the experience necessary to navigate the complicated home buying process and solve common hiccups that present themselves in every real estate transactions.

Your real estate agent is a local professional. They will start by presenting themselves to the buyer’s agent as someone who will work with them to see the transaction through to a successful conclusion. They have a network of professionals who will work as a team to help you through the process. These include such professionals as: lenders, title reps, escrow officers, transaction coordinators, home inspectors, contractors and handymen, among others.

Most importantly, your agent is your ally in the home buying process. They negotiate on your behalf – armed with experience and understanding of customary charges, costs and terms.

They will ensure that the price you pay for the home is fair for the condition and neighborhood. They will negotiate repairs, if needed and make sure you are protected with the proper contingencies.

The Internet offers lots of great information, but the most important step you can take when buying a new home, is hiring a local professional real estate agent. Their knowledge and expertise can’t be found by reading an article or two online.

Contact me today with your questions, concerns, or anything else.

4 Reasons to Sell this Fall

4 Reasons to Sell this Fall

Traditional lore says that the best time to list your home for sale is spring and if it hasn’t sold by the end of summer, you’re out of luck. Along the same lines, homeowners across the country are often advised not to list in the fall and wait until after the holidays to list. The truth is that a great home will sell at any time of year and in fact there are some very good reasons to list in the fall, while everyone else is busy doing other activities.

4 Reasons to Sell this Fall

1.     Less Competition – As mentioned above, most sellers list in spring so as a seller, fall provides you less competition which increases the opportunity for buyers to view your home.

2.     Serious Buyers – Home buyers in fall often have a timeline to move before the holidays. They tend to take the home search seriously and move to write offers faster and avoid wasting time.

3.     Curb Appeal – Fall is a beautiful time of year and homes always seem cozier as the weather turns. Fall colors in the trees and the scent of baking entice buyers to feel “at home” which encourages offers.

4.     Closing is Easier – The pace of home sales slows during the fall; as such lenders can move faster and the process tends to take less time.

The last and best reason to sell this fall is that it’s the right time for you and your plans. Regardless of whether you are relocating, moving up or scaling down, if this is the right time to sell, then this is the best time to sell.

Items to Check Before a Home Inspection

Items to Check before a Home Inspection

Selling a home can be a stressful time, there is so much to think about; keeping the home clean, heading out on a moment’s notice to accommodate last minute showings, not to mention planning a move. It’s natural to feel overwhelmed.

Then you get that great offer and you’re under contract. You’re relieved until you realize there’s a home inspection coming. Even a home meticulously maintained can have hidden issues. The good news is that you can prepare for the home inspection and make sure you pass with flying colors.

Items to Check before a Home Inspection

·      Doors, windows, cabinets and drawers – check that they slide smoothly

·      Run water in sinks, tubs and showers – snake any that drain slowly

·      Evidence of water leaks – Garage ceiling, under sinks, around water heaters, etc.

·      GFIs – check your local code and put GFI plugs where required

·      Smoke and Carbon Monoxide Detectors must be in working order

·      Gutters and Roof – replace any missing roof tiles and clean gutters

·      HVAC – Consider a HVAC servicing to replace filters and check for problems

·      Water Heater – is it properly strapped and vented

·      Deferred maintenance – anything that has been neglected should be addressed before the home inspection

The best defense is a good offence. This is true in home inspections too! The best way to ensure you have a great home inspection is to have a pre-listing home inspection. It could be the best couple hundred dollars you can spend – uncover the issues before the buyer does.