Posts tagged selling

WSJ: The Forecast This Spring

Mar18
2010 Leave a Comment Written by Shanna

According to a recent article in the Wall Street Journal, the forecast for real estate this spring is not a bleak one:

“After polling builder communities in North Carolina, Virginia, Florida, Texas and California’s Inland Empire, Ticonderoga Securities Analyst Stephen East says the spring home-selling scene is coming along nicely.

‘The season is indeed under way despite being delayed a bit by bad weather,’ he writes in a client note. What’s more, ‘while the market is benefiting from the tax credit, it is also showing distinct signs of normalizing.‘”

To read the rest of the article, click here.

Posted in Market News, Tips and Ideas - Tagged , , ,

15 Minutes to a Better Staged Home

Mar12
2010 5 Comments Written by Shanna

staging

You can’t learn too much about real estate without hearing this crucial truth: staging matters. Take our posts here at the Buy Owner Blog, for example, where we’ve given you 12 Tips for Staging to Sell, the Top 10 Staging Tips and tips on staging for summer, staging the backyard, even ways to stage the garage!

It can seem like a lot to take in, especially if the idea of staging is new to you. But don’t lose heart! At its heart, staging is very simple. It’s all about making your home look its best.

So do you have 15 minutes? Here’s what you do:

  1. Pick a part of your home: Choose the living room, a bedroom, that nook behind the laundry door that you’ve turned into an office, whatever.
  2. Evaluate it: Thinking like a buyer would when coming to visit, evaluate your room/area and how it will come across. If it’s a bedroom being used as a closet, will this lessen its appeal to buyers? If it’s a laundry room with too much on the floors for people to walk through, will this hinder buyers from stepping through and noticing the built-in ironing board?
  3. Make a plan to change: Based on the new perspective you’ve just gained, come up with one or two specific changes you can make to improve the area. Note that this step just requires you to come up with changes, not to implement them—that’s for later. Stumped for ideas? Consider these: clean the floors, pick up clutter, get a door fixed, dust the furniture, move the sofa to create a seating nook, repair the hole in the wall, etc.

15 minutes over yet? No problem. What you now have, based on a quick survey of the space, is a plan of action to make it look better. The next chance you get, put that plan into action and conquer one part of your home’s staging! Then, repeat the process with another room. Before you know it, you’ll have the entire interior redesigned and staged beautifully!

Bonus Tip: If staring at your home for 15 minutes leaves you drawing a blank, consider bringing in a fresh pair of eyes. Ask a friend to look at the space and give you their perspective, particularly if it’s someone who hasn’t spent a lot of time there before.

Posted in Selling Tips, Tips and Ideas - Tagged , ,

Buy a Raffle Ticket, Win a House

Dec10
2009 Leave a Comment Written by Carrie

raffle

Aside from advertising, sellers often propose bonus incentives to make their homes even more appealing to prospective buyers. These incentives could be anything from a carpet allowance to a year’s worth of paid lawn maintenance to an offer to cover all closing costs. But imagine a scenario where your dream home, which is valued between $300,000 and $500,000, is being offered for only $100—sounds too good to be true, doesn’t it? It is.

A new trend in today’s real estate market is the house raffle. Raffles boast proven results, but only when enough raffle tickets are sold to cover the total sale price listed on a given site. For example, if the home is valued at $300,000, the homeowner would prefer to sell at least 3,000 tickets to cover the total cost of the house.

Last year, CBS News reported that a couple in Maryland sold over 6,000 raffle tickets for their four-bedroom farmhouse. This massive property sat on four acres and was valued at $390,000 when it was first listed. After two years of unsuccessfully trying to sell the home, Karen Crawford and Dennis Kelly decided to be creative and sell raffle tickets at $100 a piece, even reaching potential buyers in other countries.

And while the winner of the home did indeed only pay $100 for his ticket, he had to pay $150,000 in taxes, which, in this case, was still only half of what the house was worth, but a lot more than $100.

Posted in Market News - Tagged , , , , ,

Make Repairs BEFORE You Sell

Sep07
2009 Leave a Comment Written by Blog Master

homework

Most sellers discover several minor repairs that need to be made before they can sell their house. Oftentimes it’s things they’ve lived with for years—closet doors that jump the tracks, doorbells that don’t work, window screens that are torn or faucets that drip if the handle isn’t turned just right. But even if you’ve lived with a broken doorbell for years, a potential buyer won’t want to. So now is the time to do something about it.

To get you started, here are some specific things to focus on as you survey your home for repairs:

• Repair anything that has been visibly damaged: Nicks in walls from that time you moved your desk, corners of the carpet that have pulled away from the wall and woodwork that’s scratched or dented all need to be repaired or replaced before you show your home to prospective buyers.

• Repair anything that isn’t working correctly: Replace burned-out light bulbs, repair the lock on the bathroom door and make sure any electrical outlets that don’t have power are repaired. These items will all come up during a home inspection, so fix them now before potential buyers ever show up at your home.

• Repaint your walls: If you’ve been creative with paint colors, you may want to consider neutralizing your color scheme. Prospective home buyers like to visualize themselves in your home, and if bright red walls scare them silly, they won’t look past them to your home’s best features. Remember, you’re trying to appeal to buyers, even if that contradicts your personal style.

• Repair all doors, especially the front door: When potential home buyers come calling, the first thing they’ll see is your front door. Make sure it’s squeaky clean, with a nicely polished doorknob and a fresh coat of paint or stain (if required) to make it look like new. It’s an inexpensive fix that will make a huge difference to prospective buyers. Check all window screens for damage and replace them if they are torn or ill-fitting. You may also want to add flowers or a decorative wreath for a welcoming entry.

Once you’ve got everything working and usable in your home, you’re that much closer to a successful sale! Take heart that a little work now will lead to payoff later!

Posted in Selling Tips, Tips and Ideas - Tagged , ,

Selling the Kitchen

Jun15
2009 Leave a Comment Written by Shanna

Kitchen

How to Stage Your Kitchen for Sale

When you’re selling your home, details matter. That’s why you should pay attention to every aspect, from the entryway to the laundry room and everything in between. Get these spaces into working condition, and you’ll get your home ready to be shown. But if there is one place that matters most—one place that deserves more attention than any other in terms of preparation—it’s the kitchen.

Long called the heart of a home, the kitchen is often the most-used room and the one where people tend to congregate. That’s why it only makes sense that by improving the kitchen, you improve your home’s likelihood of selling.

Here’s how you can turn yours into a true selling point:

1) Get Back to Basics: CLEAN! Scrub every nook and cranny of this space until it shines. Keep things clean, too – there should never be dishes in the sink on the day of a showing, and throughout the time your home is on the market, you’ll want to keep everything in mint condition.

2) Find Order: ORGANIZE! From the contents of your cabinets to the drawers to your pantry, organize everything. Put spices into alphabetical order, place all the cereal boxes together and keep silverware in compartmentalized trays.

3) Freshen Up: PAINT! Newly painted walls can be just the finishing touch that your home needs. Avoid bold or trendy colors, and choose instead warm neutrals that can work with a variety of tastes.

4) Replace Appliances: BUY! Energy-saving appliances would be your safest bet, as they’ll not only increase your kitchen’s appeal but also offer cost savings for their greater efficiency. That’s an upgrade buyers are sure to notice!

5) Give It a Face-Lift: UPDATE! Completely replacing all cabinets and countertops is a good idea if you can afford it, but if you’re looking for a lower-cost alternative, consider replacing the knobs or replacing the cabinetry with a less-expensive material. Cosmetics matter in a home showing, so think about visual appeal!

Posted in Selling Tips, Tips and Ideas - Tagged , , ,

6 Decorating Don’ts When Selling Your Home

Aug09
2008 2 Comments Written by Shanna

Decorating

Motivated sellers know that putting time and energy into preparing a home to sell can more than pay off in the end. Getting things clean, organized and up-to-date is all part of the process. But what many sellers may not know is how important the specifics of these changes can be.

How can you know what updates to make? When you replace things-from carpeting to kitchen appliances-should you go with top-of-the-line or more moderately priced?

The most important thing to remember is to make decorating decisions that emphasize your house, not your style. Here are six tips to get you started:

  1. DON’T paint with bold colors: Repainting the walls of your home’s interior may be a very good idea, especially if you have spots, stains or any kind of damage showing. But if you repaint, choose neutral colors that could accommodate a variety of tastes. Remember, your preferences don’t matter here-this is about appealing to the largest number of potential buyers.
  2. DON’T showcase personal mementos: It’s no secret that well-framed photographs can make a house a home. However, when you’re selling, you want to remove yourself as much as possible from the decorating. Take down degrees, kids’ artwork and anything that may overemphasize your personality.  Focus on making your home a blank slate for someone else’s living space.
  3. DON’T install the most expensive appliances: If your kitchen appliances are very dated, you should probably replace them. Don’t choose the fanciest, most upscale products, however. Remember that everyone’s taste is different. What you want to choose is something simple, clean and modern, which makes the kitchen look its best.
  4. DON’T install the most expensive carpeting: If you’ve lived in your home for a while, you’ve probably seen some wear and tear on your flooring.
  5. DON’T fix what ain’t broke: Now is not the time to make gigantic, sweeping changes to your residence that aren’t necessary. Also, don’t remodel features that are already in good condition.
  6. DON’T continue living as you always have: As soon as you decide to sell, you need to switch gears in the way you’ve been living. Put as much of your things away or into storage as possible. Declutter. Clean out spaces. Only leave out enough furniture to define living spaces.

Believe it or not, going into your home sale with these simple tricks in mind will definitively set you apart from the pack in terms of home quality. Buyers will be able to visualize themselves in your home more easily, making them more likely to move towards a purchase.

If you enjoyed this post, consider subscribing to the Buy Owner Blog!

Posted in Selling Tips, Tips and Ideas - Tagged , , , , , , , ,

Selling a Vacant Home

Feb25
2008 Leave a Comment Written by Carrie

Selling a vacant home can be difficult. For example, without seeing a kitchen table or a living room sofa, it might be hard for potential buyers to picture their belongings in your home. On the other hand, it might eliminate the distractions of decor that doesn’t match a certain buyer’s taste.

Making an empty house appeal to buyers is not an impossible task! Here’s what to do:

1. Remember that first impressions always count. The front exterior is the first thing people are going to see when they come to your house for a showing. For tips on sprucing up your curb appeal, check out this Buy Owner article: Why Curb Appeal Is Important.

Also remember to keep the seasons in mind. For example, in Chicago, you have a lot to consider!

  • Spring: Check out the latest post from Sarah to see what you can do to improve your curb appeal as spring approaches.
  • Summer: Keep your lawn a luscious green by watering it regularly.
  • Fall: If your property is surrounded by trees, make sure to rake up all those stray leaves!
  • Winter: Plow or shovel driveways and sidewalks. You don’t want to make your buyers trudge through three feet of snow just to get to your front door.

2. Clean Up! Since your home is completely void of furniture, the floors and the walls must be immaculate, because they are in plain view. Vacuum carpets, scrub floors, and touch up painted walls. If you don’t need to upgrade your flooring, perhaps you may want to lay down an ornate rug to spruce up a room. Adding a bold or neutral accent color to one wall could also liven up the space and grab the attention of a buyer.

3. Leave a few things. Empty rooms tend to look smaller, even when you know they are very spacious. Try to keep some type of furniture in a room, if possible. Leaving a small chair or a floor lamp behind does make a difference. Also, custom treatments and blinds on windows add depth to a room, while creating a homey, lived-in look. And just like the flooring and the walls, make sure that you dust the small pieces of furniture, the window treatments and the blinds regularly. When a room is not completely furnished, every speck of dirt is exposed!

When selling your home, keep in mind that buyers may prefer your vacant home, since they can move in right away! They don’t have to wait for you to move out, and no one has to worry about banging up walls or scuffing floors while moving furniture. It’s simple. Keep it spotless inside and out, and stay motivated!

Chair

Posted in Selling Tips, Tips and Ideas - Tagged , ,

See How Easily You Can Sell Your Own Home!

Jan09
2008 Leave a Comment Written by Blog Master

Keys 

Contract to closing, Buy Owner creates a smooth selling process: that’s “The Buy Owner Difference.”

From tips on staging to organizing to cleaning to curb appeal, Buy Owner provides information, right here at the blog, to help you prepare your home for sale.

Buy Owner marketing plans offer options for quality descriptions, professional virtual tours, captions.

The suggested strategies here at the blog provide ways to get the word out about your home, ways to sell while out-of-town, and ideas for preparing for a showing.

Negotiating with a buyer? Ready for Moving Day?

Buy Owner has you covered, whatever your need. Contact customer service to learn more!

Posted in General Information, Selling Tips, Tips and Ideas - Tagged , , ,

A Return to Practical Housing

Oct11
2007 Leave a Comment Written by Sarah

 While the “McMansion” flourished in the housing boom of the past decade, the impracticality of suburban castles is being realized by many homeowners and buyers. Consider maintaining a smaller, efficient home by investing in thoughtful upgrades over expansion.

Moderate-sized homes with aesthetically appealing detail are selling faster than larger homes with unnecessary rooms.  While the same amount of money can be put into a small home as a large one, quality design remains a solid investment, without adding more space to an already-sufficient home.  Smaller, custom-designed homes save on energy costs, and less space affords a bigger budget for decorating.  You can invest the same amount of money in your home without building spaces that you (and your potential buyer) will not need! 

Smaller homes are also easier to afford in high-priced areas.  Homeowners may favor a convenient location over a three-car garage and a two-hour commute to work. This trend is evident overseas, where high costs have driven the average square footage of a U.K. home to 815 square feet, as opposed to the U.S. home averaging 2200 to 2300 square feet (The 2006 Demographia Housing Affordability Survey).  While many Americans can’t imagine fitting into such a small living space, the move toward efficient use, sans excess, is going to change the art of home selling in America.

Certain rooms and design elements have gained more attention in the past few years:

Kitchens

Larger, custom kitchens remain high in demand. Kitchens are both a communal area and a functional work space, and people spend time in the kitchen now more than ever. A comfortable and efficient kitchen will draw people together.

Custom Bathroom Fixtures

Upgraded bathrooms and custom fixtures are also popular, such as deluxe shower heads, unique sinks, towel racks and medicine cabinets.  Tiled walls and floors add tremendous detail to an otherwise boring bathroom.

Built-ins/Storage

Efficient storage and built-ins remain high in demand. Closets are no longer sufficient; shelving, roll-out storage and cabinets help to keep smaller spaces uncluttered yet accessible. Built-ins can fit any purpose, and are great in every room of the house.

Focusing on upgrades is not only a smart investment, but is an energy-saving, environmentally conscious effort, decreasing your carbon footprint on the world.  Communal and heavily trafficked rooms deserve the most attention, while formal spaces can be eliminated in favor of upgrades in the meat-and-potatoes of your home.  Reflecting what buyers want is the first step to a fast-sell!

Posted in Market News - Tagged , ,

Selling in a Buyers’ Market

Oct10
2007 2 Comments Written by Shanna

Simply put, a buyers’ market exists when there are more homes for sale than buyers to purchase them. In this situation, buyers can take their pick of quality homes, with more options and more negotiating power. Home prices tend to be lower, and properties tend to stay on the market longer. While this is great news for homebuyers, it’s a problem for sellers.

As a savvy seller, you need to proactively market your home to stay at the top of the playing field. Homeowners who sell homes quickly instinctively plan ahead and aim to charm buyers. They take the necessary steps to stand out among the competition. Here are a few important ideas to get you started:

PRICE COMPETITIVELY

Note that the best analysis comes from a skilled professional who has access to market information and trends. As a Buy Owner customer, you would be eligible for a free analysis from MLS Realty®, making this valuable part of your strategy remarkably simple!

The first step in analyzing pricing is to look at competitor home prices. Investigate the price range in which similar homes in the area are currently listed, have recently sold, or are pending sale. When considering the recently sold homes, focus on transactions that have occurred within the last two months. Because of the market’s changing rates, examining more distant sales won’t yield as accurate of a range. Determine the price range that similar homes in the area have sold for within the last two months.

Based upon the numbers you find, aim to market your home just below its value. This will make the price competitive and realistic.

IMPROVE CURB APPEAL

First impressions can make or break your sale. When potential buyers arrive, they should feel immediately attracted to your home and excited to see the interior. Knowing this, you want to do all you can to improve the exterior appeal. Attend to all landscaping areas: mow the law, trim the hedges, manicure the plants. Plant fresh flowers in front, if possible. Make any necessary repairs to the roof, the siding, or other parts of the building. Also take a good look at outdoor equipment like pools, sheds, decks, or patios. Everything should be immaculate, ready to be shown.

For more information, see the Buy Owner article: “Why Curb Appeal is Important.

CLEAN AND STAGE THE INTERIOR

Stop thinking like a homeowner and start strategizing as a product seller. Depersonalizing is a big step towards recognizing your home’s marketability to buyers. As a product seller, you need to consider every possible way to increase your home’s appeal—not to you, but to buyers.

In every room, stage furniture and decorations to maximize space and showcase style. Remember, you’re thinking like the buyer now. Get rid of all clutter—anything that you don’t need, put away. Rent a storage space if you have to. Doing this will make the rooms appear larger and full of potential, ideal for helping the buyer imagine living in the home. Another idea is to consider a professional staging company. Trained stagers can creatively plan ways to market your home at its best.

Clean your home from top to bottom. Everything should be spotless, like a show home. Get inside the cabinets and drawers, too: potential buyers will open everything.

Following these three steps can make all the difference in your home’s marketability and successful sale. Be proactively aggressive in getting your home in top shape, and you can compete, even in a buyer’s market.

Posted in Market News, Selling Tips, Tips and Ideas - Tagged , , ,

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