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Optimize Your Sales Price

When it’s time to sell, sellers need to decide how they want to present their home to the market. Should we do some updates?   Repairs?

Not Like Selling A Car

Doing a lot of work to a car before you trade or sell it to a dealer is not generally a good idea. In most cases, you won’t recapture the cost of the repairs. They can do the repairs for a less than you can. Not to mention, you are selling to a wholesaler who needs to sell it again to the end user and still make a profit.

A home sale is totally different.

The owner is selling the home to an end user. Since the buyer, in many cases, is using their available funds for the down payment and purchase costs, they don’t have money to spend on repairs or decorating the home. They would need to live in it “as is” for a while which may not be as appealing as finding a home that is refurbished, up-to-date, and ready to move into.

Even if the buyer would be willing to get a home improvement loan after the sale, it would be a separate loan at a higher interest rate making their payment higher than financing it all in one mortgage at the lower first mortgage rates.

The seller may experience some inconvenience going through the repair process, but it will, most likely, result in a higher sales price in less time. Not all buyers have the imagination to know what something will look like after it is finished. It is better to go ahead and get the work done before putting it on the market.

What Matters?

The bathrooms and kitchen are the most important rooms to update. If the finish on the cabinets is bad, have them painted. New countertops and appliances can make a world of difference. Paint, countertops, and fixtures in the bath give the home a great feel.

In addition to the repairs, a major cleaning and decluttering can make a home look and feel better than the competition.

Where To Begin?

The first step is to go through the home and pack up or get rid of things you don’t need or things that detract from the home like excess furniture, exercise equipment, personal artwork, etc. Now, do the same with the closets and cabinets. By getting rid of things, there will be more room and they’ll look larger.

Next, walk across the street from your house and give it a critical look. How is the drive-up appeal? Would you want to go inside to see the rest if you were a buyer? Are the trees and shrubs trimmed? Yard cleaned up? Do you have blooming flowers in the beds? Does the front door or mailbox need a new coat of paint? Do you need to power wash the outside of the home and the sidewalks and driveway? Do the windows need washing?

Buyers are visual people and beauty is always rewarded. Restaurants know that people eat with their eyes first and they go to a lot of effort to plate the food so it is visually appealing. The same approach works for selling a home. Ask your agent if they have ever taken a buyer to a home that refused to go inside because they didn’t like the looks from the street.

Realtors can make specific recommendations and assist you in finding someone to do the work. This is what we do.

 
 

Filed Under: Blog, Information for homeowners, Information for sellers, Real Estate Tagged With: Home Selling Tips, information for sellers, selling your home

Should I Have A Home Inspection Before I List My Home For Sale?

Should I have a home inspection before I list my home for sale?

Home inspection.jpg

One of the anxiety highpoints during the sale of a home is waiting for the buyer’s home inspection report.  Most sellers willingly disclose what they know about their home to any potential buyers.  The concern stems from the inspector finding something that they’re totally unaware of and that it will either cost them a lot of money to correct or the buyer will simply use it to void the contract.

If the inspection does reveal some unknown problem with the home, it’s probably as big a surprise to the buyer who is not as emotionally or financially invested as the seller.  It is human nature to fear what you don’t understand and when a report identifies defects, they may simply opt-out of the home.

The solution to the situation may be for the seller to have the home inspected prior to putting it on the market.  There is still a risk of becoming surprised by an unknown defect which at that point, would have to be disclosed to potential buyers or repaired by the seller.  The advantage is that it creates a baseline to compare discrepancies that may arise when a future buyer has the home inspected.

If the seller’s inspection report is made available during the marketing process, it could give buyers a sense of confidence about the home even though they may still choose to have the home checked by their own inspector.

The cost of the inspection, possibly $500, keeps some sellers from taking this initiative when selling their home.  In an effort to minimize their expenses, they forego getting valuable, disinterested 3rd party advice that could help sell their home.  On a $175,000 home, the fee for the inspection will probably be less than 3/10 of one percent of the sales price.

Another option to the seller to increase marketability of the property and bolster buyer confidence in the home would be to offer a buyers home warranty.  Generally, the seller doesn’t incur cost for this coverage until the home is sold.  The benefit to the buyer is avoiding unanticipated expenses for specific items that are covered during their first year of ownership.  Another option for the seller is a seller’s home warranty which will cover the home during the listing period.  Under the seller’s home warranty many of the repair items found in the inspection report will be covered under the warranty which translates to less money out of pocket for the seller and a happier buyer since their list of requested repairs are being addressed.

Contact me for recommendations of home inspectors or home protection plans. 

Filed Under: Blog, Information for sellers Tagged With: home inspection, selling your home

Charlottesville Virginia Real Estate News

The March edition of my newletter Charlottesville Virginia Real Estate News is hot off the presses.

You may be interested in reading this issue which deals with the following topics:

  • Buying a distressed property, foreclosure or short sale, takes patience.
  • Why it is important to verify the information in the public records before putting your home on the market.
  • Selling your home – Find out what improvements are cost effective.
  • More information for sellers – Spring cleaning for the exterior of your home.
  • Make sure you understand disclosure requirements when you are selling your home and avoid a lawsuit later.

Read Charlottesville Virginia Real Estate News.

If you would like to subscribe to the newsletter, email me at [email protected] and I will put you on the mailing list.

Filed Under: Blog, Foreclosures, Information for buyers, Information for sellers, Real Estate Tagged With: buying a foreclosure, Charlottesville Virginia real estate, selling your home

How Do You Decide Who Is The Best Realtor To Sell Your Home?

How do you decide who is the best Realtor to sell your home?House for sale

There are so many Realtors in Charlottesville Virginia and they all are marketing themselves as the best, but what are the points that you need to focus on to figure out which agent would be the best fit to list your home for sale.

One of the first things you should make sure is that your Realtor is working full time in the Real Estate profession. 

Should you choose the agent who has the most listings?  Not necessarily.  Sometimes that agent with all of the listings is so overloaded that he doesn't have the time to devote to selling your home that an agent with fewer listings would.

You will want to know what the agent will do to market your home.  With over 85% of the buyers beginning their search for a home on line you will want to hire a Realtor with a strong internet presence.  One of the first things that you can do is to Google the agent's name.  Unless it is a very common name it should come up in multiple places on the first several pages for that name.  Where else is the agent active on line?  Are they on Active Rain, Facebook, Linkedin, Twitter and do they have a blog?

Of course, your home should have a sign, be put in the mls, have flyers  and be on Realtor.com.  But there should be more such as virtual tours, multiple photographs, email flyers, listing syndication which will submit the listing to a large number of websites as well as Craigslist.  If your home is a niche property there are niche websites that it can be on as well.  And your agent should have their own personal website as well as putting your listing on the company website.

You will also want to make sure that your Realtor is available to communicate feedback.  Also make sure that they respond to your phone calls and emails in a timely fashion.

Other things that you will want to discuss are whether the agent will hold public or Brokers open houses.  Public open houses do not usually sell the home, but broker open houses can give agents the opportunity to preview your home and may result in more showings.

If you have a niche property, it is important the your agent have knowledge regarding that particular type of property.  For instance, if you are selling a Virginia horse farm, it is particularly helpful if the Realtor if familiar with horses and all of the features that are found on a horse farm.  If the agent is part of the equestrian community, he will know how to talk with that particular type of buyer.

There are a lot of Charlottesville homes for sale in the current real estate market, so it is important to do your homework and choose the best agent for the job of selling your home.

Contact

Pam Dent

, e-PRO, SRES, NHD, REALTOR®, Real Estate III, Charlottesville, Virginia at 434 960-0161 to buy a property in the following areas in Central Virginia: Charlottesville, Albemarle County, Keswick, Glenmore, Ivy, Crozet, Earlysville, Free Union, Cismont, Scottsville, Fluvanna County, Troy, Palmyra, Lake Monticello, Louisa County, Louisa, Mineral, Spring Creek, Orange County, Gordonsville, Orange, Barboursville, Greene County, Ruckersville.

 

View all of the Charlottesville Virginia homes for sale.

 

View my website Charlottesville Horse Farms or visit my other blog Charlottesville Real Estate Talk  for more information on

Charlottesville

Virginia

horse farms, homes, events and real estate. 

 

Copyright © 2009 by Pam Dent, all rights reserved, "How Do You Decide Who Is The Best Realtor To Sell Your Home?"Postdivider

Filed Under: Blog, Information for sellers Tagged With: Realtors in Charlottesville Virginia, selling a Virginia horse farm, selling your home

10 Steps For Preparing Your Home For Sale

Charlottesville, Virginia has a large number of homes on the market right now giving homebuyers a lot to choose from.  In order for your home to sell, in addition to being priced properly, it is important that it is in the best possible condition.  What should you do before you put your home on the market to help it make a good first impression?  Here are 10 tipsHouse heart windows to help you make sure that your home is the one that buyers will want to make an offer on.

1.  Clean the entire home from top to bottom.  Don't forget the garage, inside closets, cabinets and the pantry.  Remember buyers will examine every nook and cranny.

2. Polish and wax floors.  If you have carpets, clean any dirty carpets and restretch if necessary.  If the carpet is worn, it should be replaced.  Even if you are thinking of offering a carpet allowance most people would rather not be bothered with having to replace it themselves.  Remember to choose a neutral color.

3. Repaint.  Nothing makes a house look new and bright like freshly painted walls.  Again neutral colors are important.  It is easier for people to imagine their possessions in a home if the walls and carpets are in a neutral shade.

4. Fix any nailholes and blemishes on the walls before painting.

5. Make sure all closets and cabinets are neatly arranged.  You may want to put items that you are not using in storage.  If closets are not crowed it will give the impression that you have plenty of storage space.

6. Remove any pieces of furniture that you can do without.  Also put any pieces that are oversized for the rooms in storage.  It is important to make the rooms look as spacious as possible.

7. Clean all of the light fixtures, ceiling fans and wash the windows.

8.  Take down family pictures.  You want potential buyers to imagine themselves and their family living in the home.

9.  Declutter.  Remove knick knacks from shelves and table tops.  All of these objects can make a room appear smaller.  Also if you have many interesting objects around your house, a buyer can get distracted from looking at the actual features of the home.

10.  If you have pets, make sure that the house does not smell like pet odors.

Your realtor will be able to walk through your home with you and give you tips on what you can do to your particular home, to ensure that it is the one that sells.

Filed Under: Blog, Information for sellers Tagged With: Charlottesville Virginia home for sale, preparing a home for sale, selling your home

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Contact Pam

Pam Dent
Phone: (434) 960-0161
Email: [email protected]
Gayle Harvey Real Estate Inc.
198 Spotnap Rd, #C-5,
Charlottesville, VA 22911


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