Archive for the 'Selling' category

Certain home improvements that are useful to homeowners have been proven to add value and/or speed the sale of a condo or home. Some of these improvements can be adding central air conditioning to the heating system, building a deck or patio, finishing a lower level or basement, adding hardwood floors, taking down a wall and increasing the size of a room, some kitchen remodeling, appliances or counter tops with granite.

Improvements that return less than what they cost generally are done to appeal to the personal tastes of the homeowner. Without question, your biggest return will come from remodeling and upgrading your kitchen and bathrooms. I have explained this to sellers for years.

If you want to get the best possible price for you home, start by making sure it looks its best inside and out. If your working with the right Realtor, he or she should be honest and wont be afraid to tell you what is needed or what needs to be changed. 

When I visit with my sellers, I make sure they know that I am there to sell their home for the most money in the quickest amount of time. I am honest with them and I make sure they know what they can do better to increase their odds. If the kitchen is outdated, I tell them. If the home has a bad smell, I tell them. If its too cluttered, I tell them. If I think the home will sell for a higher price by adding hardwood floors, I tell them.

The challenge that comes when improving your home to sell is recouping the investment of improvement - that is putting more money into it than what the neighborhood supports. I once witnessed a homeowner buy a home with the hopes of improving a tired, run down home and selling it for more than what he invested. ( the art of a flip) The family was on track to fulfilling what they set out to do, until they changed direction and added stainless steal appliances, two new fireplaces, sky lights, a finished basement, a state of the art alarm system along with a state of the art stereo surround sound piped through the entire house. End result, they brought the value of the home higher than all of the homes in the neighborhood by thousands. The clientele buying at the time where brought to this particular neighborhood for the modestly priced homes. As you can imagine, the home remained on the market for months and eventually the homeowner had to bring the price down to the level of the rest of the homes in the neighborhood. Ah, the risk of "over-improving your home".

So how much is too much? I have found that no matter how much a homeowner improves, its unlikely to sell for more than 15% above the median price of other homes in the neighborhood. Whether your doing  $10,000.00 worth of work or  $100,000.00 worth of work, you should consult your Realtors opinion about the viability of recouping the cost of any major renovation or improvement you have in mind before you start the work.

 If your in the Boston area and would like a free opinion of your homes saleability...feel free to email me at Dave@BostonResidentialRe.com or call me directly at +1.617.595.5082

Yes, you should definitely plan on being out of the home while it is being shown or during any open houses your Realtor may have scheduled or planned. People often feel uncomfortable speaking candidly and asking questions while the home owner(s) are present. You want the prospective buyers to feel as comfortable and as free as possible so they can picture your home as their "Dream Home". 

When you have a viewing scheduled, you should have your home clean and tidy. Turn on all the lights and be sure all unwanted clutter and smells are gone.

For more tips on Selling, visit www.bostonresdidnetialre.com/real-estate-tips

Simply put, the fair market value of a house is the highest price an informed buyer will pay, assuming there is no unusual pressure to complete the purchase and/or there isn’t any cosmetically or structural issues with the property. The final selling price is usually less than the asking price....however, it can sometimes be more, depending on your pricing goals, strategy and market conditions. Be sure to have a discussion about pricing goals and timelines with your Realtor so you know exactly what to expect. 

To get an estimate of fair market value for your home, you can call a local real estate agent/broker and ask for a Competitive Market Analysis or "CMA" as it is known in the business. Most brokers will provide this service free of any charge and without obligation. The analysis will give you a realistic figure based on the most relevant points of the local real estate market. It should provide information about recent sales of similar homes; including how much they sold for and how long it took. With other reports and information to compliment the Realtors CMA, it is one of the most important pieces of information in determining the right asking price.

Most buyers also leave room for negotiation when they make an offer. Thus, a certain degree of flexibility is usually called for on the part of both the buyer and seller. While it is ultimately your decision to accept or reject an offer, or present a counter-proposal, a good agent can be of great assistance to you during the negotiating process. In fact, negotiation is one of the valuable skills an agent can offer you. As negotiations proceed — whether in writing, face-to-face, or by phone — your real estate agent should inform you of your options in responding to each offer from the buyer. Even without such advice, a cool, rational manner in what is often a long, emotionally-charged process will usually net you a significantly higher price.

Unless your house is nearly new, chances are you'll want to do some work to get it ready to market. The type and amount of work depends largely on the price you're asking, the time you have to sell, and of course, the present condition of the house. If you're in a hurry to sell, do the "little things" that make your house look better from the outside and show better inside.

Visit http://www.bostonresidentialre.com/real-estate-tips for tips on how to get the most money for your home in today's market.

Can I Sell My Own House ?

Many people believe they can save a considerable amount of money by selling on their own. They look at the average commission on a house, and remember stories of friends or relatives who managed to "get through" the process with little trouble...."If they can do it, so can I".

Right now, over 10% of American home owners sell their own home. But in order to be successful as those 10%, you must understand and be realistic as to what exactly is involved in selling your own home.

The routine parts of selling your own home involves first and formost accurately pricing your own home. If you over price, you wont sell. If you under price, you risk losing money. 
Another is saftey and time...determining whether or not a buyer is qualified to buy and let into your home.
Creating and paying for the right advertising. Are you familiar with the basic real estate regulations and understand, and possibly even prepare a real estate contract and coordinating a closing? The possibility of a mistake in any one of these areas and many others, may cost you the very money you think you may be saving.

The best reason for working with a real estate agent is the huge amount of information we have at our disposal. ( I stress that you need to find a Realtor ® that is working in the business full time, and not just as a hobby.)  Professionals know about market trends, houses in your neighborhood, and the people most likely to buy there. They also know how to reach the largest number of people who may be interested in your home and are trained in the areas like screening potential buyers, keeping in mind the safety and security of everyone involed. In addition to effectively negotiating, your Realtor ® is always on call and willing to do the things most people hate....working weekends, answering the phone at most all hours and just being polite!