If you are looking to buy or sell a home you have probably received real estate advice from friends, family, and coworkers who think they know best. As well-meaning as they are, those close to you may have heard some frightening myths about the real estate industry. Don’t worry, we’re here to debunk those myths so that you and those close to you have a better understanding of real estate.
If you have found the home for you and you don’t have the preapproval letter accessible, then you may be at a disadvantage when making a successful offer. The real estate market is competitive, and most offers will not be approved without a loan approval letter. Be sure to get preapproval before searching for the perfect home. Then you avoid the potential nightmare of losing your dream home.
A home does not pass or fail an inspection. Rather an inspection is completed so that you can understand the condition of the home. The inspector will provide a report of the key systems of the home and the life expectancy of big tickets items like the roof. You wouldn’t want to purchase a dream home and then have spooky electrical issues. If you want to learn more about inspections read our blog about the 5 Questions You Must Ask Your Home Inspector.
The price of a home is affected by the market conditions, the property’s location, and it’s size. The listing agent strongly suggests a price based on all of these factors. Then the seller may negotiate that price, but the seller is not the one who says, “My home is worth x amount and I’m going to price it as such.” Most prices are negotiable; so don’t be scared away by the initial price.
Holding an open house shortly after listing creates attention for the home. An agent can learn valuable information on what buyers’ opinions are of the home at an open house. Many tech-savvy buyers use the Internet to search for properties first, to filter out the haunted houses. So when they visit an open house and they’re pre-approved, they may be ready to write an offer.
“In reality, the best offer is the one with the highest probability of closing,” said Allen Schild, real estate broker for @Properties in Chicago. Even if you have a high offer, it could come with ghoulish contingencies or a deadly long closing period. Consider different factors, like if the buyer is offering cash before you make your final decision.
Don’t believe everything you hear about the real estate industry without doing your own research. We hope you enjoyed learning about these frightening real estate myths. You may find that there are myths out there that still need to be debunked. Let us know if there are any other myths that need to be brought to light by leaving a comment on our Facebook and Instagram posts promoting the blog!
You may ask yourself, “Why do I need professional photographs of my home?” You may think you can take the pictures yourself or have your real estate agent take them and you’ll be fine. But, to sell your home and showcase it in the best possible light, you need professional photographs. If you’re not convinced, let us explain why.
A professional photographer can see what others can’t. You may not see that rubbish bin or colorful soap dispenser as a problem, but these things can hinder the image of the home. A professional photographer is trained to see these things and will remove them from the scene. They also know about lighting techniques and how to adjust their camera’s settings to complement the environment and make your home look its best.
A professional has integrity. A photographer wants to release the best possible images. They are dedicated to producing perfect images of your home and take the time to do so.
A professional can negotiate small spaces, even when they may be hard to capture. Professionals have high-quality cameras and lenses. A wide-angle lens can make a small room, like a powder room or breakfast nook, look spacious.
Professional photographers understand space and composition. A viewer must be guided through a home. They have to feel aware of where rooms are located and professional photographs can help tell that visual story. In professional photographs doors are open and lights are on to give the viewer have a full understanding of a home.
A professional will select and edit photographs expertly. Postproduction is the art of choosing the right photos and enhancing them. A professional photographer will take the time to highlight your home’s unique features and give you beautiful photographs that will be seen by potential buyers.
If you still aren’t convinced, read these real estate photography statistics from Agent Impress:
- Homes with high-quality photographs receive 47% higher asking price per square foot.
- Listings with professional photographs sell 32% faster, spending only 89 days on the market compared to 123 for other homes.
- Homes with professional photographs get 61% more views.
All in all, professional photographs are a great decision when selling your home. Professional photographers can deliver the best possible images and take their time to do so. We here at Young Team Realtors have an in-house photographer that captures most of our high-quality photographs. If you’re looking to sell your home in the Cleveland area and want to present it in the best possible light, contact us at 216-378-9618.
Do you think it’s time to move to new home? You may have a gut feeling that you are ready for a change. That change may be to pack up your belongings and move to a new home. Although, moving is no easy feat. You have to be ready to take on the challenge, and we’re here to help you decide if that is the right decision.
1. Your house has become too small or too big
You see a beautiful rocking chair at a flea market and know that you have to have it. But where will it go? You suddenly picture your house and see there is no place for this amazing antique rocking chair that is just so ‘you.’ If you look around and notice things are getting crammed in corners, it is time to move to a bigger home with more space.
But what if you have the opposite problem? You have more space than you need. You may be an empty nester and no longer have kids living at home or you no longer have guests spend the weekends at your place. It’s time to move if you have too much space and you’re ready for a smaller, more manageable home.
2. You’re ready to step it up
When you bought your first home you had a job fresh out of college and you were looking for something within your budget. It’s been a few years and your salary has increased significantly. You’re ready to upgrade to a nicer home you can see a brighter future in. Go ahead, and step it up. Buy a house that matches your current budget and say goodbye to your cozy starter home.
3. Your commute is too long
If you feel that you are spending more time commuting to your work and less time with family and friends, then you may consider moving closer to work. If your job is secure and you plan on being with your company for the foreseeable future, then pack up and move closer to work. Commuting can be exhausting and living closer to work means that you will be spending less money on travel expenses.
4. Your kids need a better education
You want the best for your children. If your school system does not meet your child’s needs, you may want to move into a city that does. Do some research. Moving.com has school ratings that pull various report information from a database of nearly 90,000 public and private schools. Ask locals in the area what they think of the school system and of course form an opinion yourself by looking at the school’s website, curriculum, extracurricular activities and online reviews.
5. You’re concerned for your safety
If you feel unsafe walking to your car in the morning, you may want to make a change. One of the top reasons for moving is feeling unsafe in your neighborhood according to moving.com. Remove yourself from a dangerous area by relocating. Loud and disruptive noises, increased criminal activity and environmental hazards are reasons to move out of your current home.
Whatever your reason for wanting to move, we are here to help you, whether it be by selling your current home or helping you find a new home that suits your needs. Contact us today by calling 216-378-9618 and let us know what you think of this blog on our social media channels!
Are you getting ready to sell your home in the upcoming weeks or months? The process may seem overwhelming, but getting your home prepared and staged is crucial for allowing buyers to imagine themselves in your home. If your home is on the market, but has not sold yet, try to do a few tips things to freshen up your home. There are plenty of small, easy things to do that go a long way in the mind of a buyer.
Here are some suggestions and ideas to improve your home’s appearance and help you prepare to sell it faster!
THROUGHOUT THE HOUSE:
- Open the draperies, pull up the shades, and let in the sunlight.
- Create a positive mood. Turn on all lights, day or night. Open the curtains during the day.
- Install higher wattage light bulbs to show your home brightly—in its best light.
- Remove all clutter from each room to visually enlarge them.
- Create the impact of spaciousness.
- Keep your home dusted and vacuumed at all times.
- Have a family emergency “game plan” to get the home in order quickly if necessary.
- Air out your home one-half hour before the showing if possible.
- Lightly spray the room with air freshener so that it has a chance to diffuse and air before the buyer arrives.
- Shampoo all carpets and vacuum them daily.
- If the carpet does not clean up well, you should replace it.
- Improve traffic flow through every room and create a feeling of spaciousness in every room by removing unnecessary furniture, knick knacks, hobby items, children’s items, etc.
- However, try to avoid creating a “sterile” looking environment.
- If you have numerous family photos, put them away until your home is under contract. Perspective buyers will feel more like it can be their home if they aren’t aware of your family photo memories.
- Rent a storage area for these items or have a yard sale.
- Straighten, tidy, and remove unnecessary items from all closets. Put unnecessary items in storage.
- Fix the front door bell.
- Invest in a new doormat.
- Make sure the front door, storm door, screen door, etc. work wonderfully.
- Create the feeling of a spacious entry area by using decorating accents, mirrors, rugs, etc. and by removing all unnecessary clutter.
- Wash all windows, inside and out.
- Curtains should be fresh, clean, and attractive.
- Clean all light bulbs, light fixtures and chandeliers to brighten the home.
- Remove all smoke odors, pet odors, and odors resulting from hobbies.
- Paint all inside walls with off-white paint. Use two or more coats to cover bold, bright or dark walls.
- All walls should be painted, not just washed. This will brighten the home and make it look bigger.
- Repair or replace all doors, closet doors, and/or windows and screens so that they open with ease.
- Repair or replace banisters and handrails.
- Water and prune all plants.
- Use plants in transitional areas of your home between inside and out.
- Either get rid of dying plants or keep them out of sight.
- Remove any excess extension cords and exposed wires.
- Open doors to areas you want the potential buyer to see such as walk-in closets, pantries, attic, basement, etc.
- Close all other closet doors and cabinets.
- Repair or replace loose or dangling wallpaper.
- Clean and shine all accessories (door knobs, knockers, lamps, mail boxes, address numbers, etc.)
IN THE KITCHEN:
- The kitchen should always be kept spotlessly clean.
- Microwave a small dish of vanilla twenty minutes before the showing and place it in an out-of-the-way place in the kitchen.
- Expand your counter space by removing small appliances.
- Highlight an eat-in area in your kitchen with a table set for dinner.
- Remove all grease from range hoods, ovens, stovetops, walls, etc.
IN THE FORMAL ROOMS:
- Set the scene by setting the table. Highlight the potential of your dining room by setting a grand dining table.
- If you have a fireplace, highlight it in your decorating.
- Clean rubbish out of the fireplace and keep it clean in the winter.
IN THE BEDROOMS:
- Create a master “suite” affect in your decorating.
- Make sure that beds are made and the linens and curtains are fresh and clean.
- Organize your closets, remove unnecessary items, and put them in storage.
- Straighten, tidy and remove unnecessary items from all closets. Create the feeling of spacious closets. Put all unnecessary items in storage or invest in under-the-bed storage boxes.
- Remove posters and adhesive from walls and doors and putty any holes resulting from nails or other mishaps.
- Depersonalize teenagers rooms and decorate in a neutral temperament.
IN THE BATHROOMS & LAUNDRY ROOMS:
- Bathrooms should always be kept spotlessly clean.
- Do not leave towels around and wipe down the shower areas after each use.
- Repair or replace broken tiles on walls, floors or in showers/tubs.
- Recaulk if the caulking is not sparkling white.
- Put out fresh towels and decorative soap for showings.
- Replace all toilet bowls if you cannot get them spotlessly clean.
- Replace shower curtains and keep them clean.
- Replace the washers in faucets and remove rust stains from basins.
IN THE BASEMENT AND ATTIC:
- Remove all unnecessary items from the attic, basement, garage, tool shed, and especially from the storage area if you have one.
- Clean or paint the basement walls and floor.
- Make the most of your attic’s potential, if applicable.
- Make the attic as pleasant as possible by airing it out, and decorating if possible.
- Add visual appeal to stairways, especially in unfinished stairways to the basement.
- If the basement shows any signs of water or structural damage it may be necessary to obtain a structural engineer’s report.
- Regardless of the season, tackle spring cleaning. Clean everything in your home from top to bottom, from the attic to the basement.
OUTSIDE OF THE HOUSE:
- Keep the yard mowed, raked, fertilized, and watered at all times.
- Remove all toys, bicycles, tools, unsightly patio furniture, trash, etc. from the yard.
- Trees and shrubs should be pruned and trimmed.
- Lawns and gardens should be weeded at all times.
- Use flowering plants to dress up the yard, walkways, and patio.
- All hoses and garden equipment should be neatly out of sight.
- Outdoor furniture should be kept clean and/or repainted if necessary.
- Firewood should be neatly stacked or out of sight.
- Mail boxes should be evaluated with a critical eye.
- Paint and repair the mailbox or replace it if necessary.
- Make all those minor repairs to the exterior.
- Porches, steps, verandas, balconies, patios and other extensions of the house should be kept uncluttered, swept and in good condition.
- Paint all entrance doors.
- Shades and awnings should be in good condition. Replace if the color has faded. Remove windsocks.
- Create an outside living/dining area with furniture and plants.
- Highlight your pool area, water garden, etc. with lighting, benches, planters, flowering plants, etc.
- Take nighttime photos of decorative yard lighting systems.
- Take pictures of your flowering mature landscaping now if you are planning to sell your home later in the season.
- Display these photos in your home in the wintertime.
- Clean, repair and paint all gutters and downspouts.
- All roof shingles, tiles, etc. should be secured or replaced. If the roof leaks, fix it.
- Make sure the garage door opens easily. Fix and paint the garage door if necessary.
- Paint chimney and replace broken bricks or stones.
- An investment in painting your home can really make the difference between “turning on” the buyer and sending up a red flag about the condition of the home.
SOME FINAL THINGS YOU CAN DO TO HELP YOUR HOME SELL QUICKLY:
- Arrive at an equitable asking price using an appraisal.
- Don’t be afraid to accept the first offer.
- Obtain a floor plan of your home, if possible.
- Assemble house records for buyer perusal.
- Provide a map of the area and highlight special-interest items.
- Only consider written offers by lender-prequalified buyers.
- Enlist the services of a professional marketing agent such as The Young Team to market your home online, in newspapers, and through engaging and modern marketing tactics.
Navigating the world of real estate, you’re going to end up coming across all kinds of real estate terminology that you may not be familiar with. Whether it’s your first time buying, or just don’t quite understand something, there is a lot of confusing terms used between real estate professionals.
Knowing what your real estate agent is talking about when they use common real estate terms will make the process smoother, and will also ensure communication is much easier.
Here are 22 basic real estate terms that will allow you to be better informed and involved in any real estate transaction.
- Acceptance: The acceptance is the agreement to the terms of an offer, which then creates a contract. As soon as the seller signs on the dotted line on the purchase agreement, you’re in a binding contract for the sale of the house. Once the contract is signed, neither parties can back out without facing consequences. In the buyer’s case, they will lose the earnest money deposit and in the seller’s case, it could end up in a potential lawsuit.
- Appraisal: The appraisal is the estimated property value, as determined by a qualified appraiser. If a buyer is obtaining a mortgage, lenders require an appraisal of a property before approving the loan. Cash deals don’t require appraisals.
- Buyer’s Agent and Listing Agent: Typically, there are two types of real estate agents that are involved in the home buying process. If you are buying a home, then you will want to be represented by a buyer’s specialist, while the listing agent will represent the seller of the home.
- Closing: The closing date is the scheduled day on which the sale of the property is officially finalized and transferred thereafter. In order to meet the closing date, the buyer must sign all the mortgage documents and pay all closing costs and the seller completes the transaction with the buyer.
- Closing Costs: Closing costs are fees paid at the home closing, which is when the title of a residence is transferred from the seller to the buyer. These costs typically include real estate commissions, escrow fees, document recording fees, lawyer fees, title insurance fees, survey fees, and taxes. These costs can also include the expenses the home has incurred by buyers and sellers during any negotiations.
- Comparative Market Analysis: The best method available to home sellers to learn their home’s current value so they can select the best sale price is a CMA, or Comparative Market Analysis. CMA is the term real estate agents use when they conduct an in-depth analysis of a home’s worth in today’s market.
- Contingencies: A contingency is the condition that must be met before the deal can be finalized between the buyer and the seller becomes legally binding.. If the home inspection reveals major problems, then the contingency allows the buyer to walk away from the contract without losing money. A common contingency is the home inspection. Other contingencies can include appraisal contingencies or financing contingency.
- Debt-To-Income (DTI) Ratio: The ratio of monthly debt payments to monthly gross income. Lenders use a housing DTI ratio (house payment divided by monthly income) and a total DTI ratio (total debt payments including the house payment divided by monthly income) to determine whether a buyer qualifies for a mortgage.
- Down Payment: The down payment is the amount of out of pocket money you pay toward a home before your lender provides you with a loan to cover the rest of the purchase amount. Your down payment can vary depending on the type of mortgage you take out. It can be anywhere from 3 percent to 20 percent of the total cost.
- Earnest Money Deposit: The earnest money deposit is the money you provide along with your offer on a house to show good faith. This amount usually accounts for one to two percent of the home’s purchase price. If the sale goes through, the earnest money deposit goes toward the down payment. If the seller rejects the offer, the money goes back to the buyer.
- Escrow: The escrow is a deposit of funds or documents, such as the earnest money deposit, that are held by an escrow agent, or other third party, until the sale goes through. The third party holds the property, cash, and the property title until all conditions of the property agreement have been met.
- Equity: Your home’s equity is the difference between the home’s fair market value, and the unpaid balance of the mortgage. Equity increases over the life of the loan. For example, if your home is worth $100,000, and you owe $50,000 still, the other $50,000 is your equity.
- HUD-1 statement:A document that provides an itemized listing of the funds that are payable at closing. Items that appear on the statement include real estate commissions, loan fees, points and initial escrow amounts. A separate number within a standardized numbering system represents each item on the statement. The totals at the bottom of the HUD-1 statement define the seller’s net proceeds and the buyer’s net payment at closing.
- Home Warranty – Similar to any warranty, sellers and buyers can pay a fee to protect the home against future issues depending on how much their package covers, like plumbing, heating, or appliances.
- Inspection: A home inspection is scheduled after you have made an offer on a home. Some municipalities require an inspection, whereas some do not. The inspector goes through every part of the home to check on the foundation, walls, heating, electricity, plumbing, and appliances to see if they are up to code or need repairs. If the inspector finds something wrong in the home during the inspection, the inspection will fail.
- Lien: A lien is when a legal claim is put on a property in order to receive payment for debt. The holder of the lien can sell the property to recover the money owed.
- Listings: Real estate agents will often refer to homes for sale on the market as listings. These listings include basic information about the home for sale, such as the price, number of bedrooms and square footage.
- Private Mortgage Insurance: PMI allows buyers to put less than a 20 percent down payment on a home. A PMI is an insurance premium paid by the buyer to the lender to protect the lender if you are unable to pay your mortgage. Once you have 20% equity in the home, this insurance is discontinued.
- Mortgage Pre-Approval Letter: Buyers can get approved for a home loan before they find a property they want to invest in. This lets buyers know how much they can borrow. They can then use the mortgage pre-approval letter to show sellers that they have the proper financing in place to purchase the home. This information is used as an estimate and doesn’t obligate the lender to work with the homebuyer. Most realtors require a pre-approval letter before showing homes to buyers.
- Multiple Listing Service: Otherwise known as the MLS, the Multiple Listing Service is a large database that real estate agents have access to that provides detailed information about most of the properties that are currently on the market, under contract, or have sold.
- Realtor®: Don’t make the mistake of thinking a Realtor is the same thing as a real estate agent. Not all real estate agents are Realtors; only those that are members of the National Association of Realtors (NAR) can call themselves Realtors.
- Title and Title Insurance: Title is the legal term that identifies a piece of property that the owner is in lawful possession of that property. The title insurance protects real estate owners and lenders against any property loss or damage they might experience due to liens, encumbrances, or defects.
Everyone should embrace the style of their current era. Following interior design trends may help your home get up to modern standards, but come time to sell, the trends of 2016 can date your home. Sometimes, no matter how much money and time you invest in decorating your home, the style you once liked isn’t so desirable to potential buyers. Just by simply keeping your home decor neutral and palatable for other people’s tastes and preferences, you can avoid your home from looking out of date. Follow some of these interior design tips below to see how you can keep your home appealing for years to come.
1) MAINTAIN HARDWOOD FLOORS
There are many reasons to love hardwood floors. They are timeless because of their charming appeal and ability to go with any wall color. Not only are they stylistically a good way to keep your home from looking dated, but by maintaining your hardwood floors through refinishing, you’re can ensure they’re long-lasting and freshen up the look. It’s safe to say hardwood floors will be a desirable feature for years to come, making your home seem elegant and classic.
2) UPGRADE TO STAINLESS STEEL APPLIANCES
Stainless steel appliances are universal in taste and also another neutral finish for your kitchen. Any color backdrop looks good with a stainless steel accent. They are also one of the first things buyers will look at in determining if a house is dated. Stainless steel has long been associated with durability, high-end fixtures, and a modern appearance. Upgrade your kitchen to stainless steel, and you won’t go back.
3) PICK A SUBTLE KITCHEN BACKSPLASH
Kitchen backsplash trends change as frequently as this year’s interior paint colors. From 4×4 glazed tiles to mosaic tiles to subway tiles, you’ve probably seen it all. Right now, it seems most people like a small rectangular backsplash. These shapes are seen in matte finishes, iridescent and/or glass finishes and in typical glazed ceramics, and of course, marble, travertine, etc. We prefer something that is more subtle, so sticking to those neutral colors and shapes are important. When picking your backsplash, choose something that won’t scream “that’s so 2010” when you’re selling your home in 2020.
4) INSTALL WHITE CABINETRY
White cabinets stand the tests of time because the color is clean and fresh, and when it comes to your kitchen, those classic words are ideal when describing your space. It allows you to have options when choosing other colors and finishes for your kitchen, while maintaining a budget.
5) USE MARBLE
Elegance and sophistication has always been associated with marble. The use of marble dates back to ancient civilizations, and it’s still valued today as much as it was thousands of years ago. Whether it’s flooring, counters, backsplash, or furniture, marble fixtures are a truly tasteful finish with unrivaled beauty.
6) THINK MINIMAL
The cleaner your look, the less likely it is to go out of fashion. If you stick to that statement with any update, the more timeless it will be, rather than trendy. Minimalism is one of the design trends that just never gets old. The simplicity of minimalism makes it easy to incorporate into a number of other styles and trends. Minimalist style classic and classy, as it emphasizes different types of interior décor.
7) ENTERTAIN WITH FUNCTIONAL INDOOR/OUTDOOR SPACE
As much as people love an updated interior, they love an outdoor space just as much. When you’re entertaining for family dinners, cookouts, parties, and other warm weather activities, you want an area outside where people can gather. Building a deck or patio off your kitchen or family room allows for your guests to seamlessly walk through both your indoor and outdoor space. Outdoor spaces don’t date themselves as much as indoor areas, as long as you keep up routine maintenance.
8) FINISH WITH A FLEXIBLE COLOR THEME
Pick a base color palette that allows for some flexibility as the trends change, such as a neutral theme. Whether you love gray and white, or cream and dark stone, a neutral palette will help establish a base to build off of. Once you settle on a preference, sticking to that constant color theme will help people feel a sense of consistency. By keeping your paint job fresh and neutral, this is the simplest and cheapest way to keep tour home from looking too dated.
You put your home up for sale, but it didn’t sell. There are a number of reasons this could have happened. Maybe you listed it for sale by owner, maybe your agent didn’t fully go over the home selling process, or maybe your home had contracts or offers that didn’t go through before closing. These issues could be attributed to problems found at inspection or a low appraisal. However, failing on the first attempt doesn’t mean you’ll never sell the home. If you address why your home didn’t sell, you can still have a timely home sale.
IDENTIFY THE REASONS FOR WHY YOUR HOME DIDN’T SELL
This is the first question to ask yourself or your agent when relisting a home. Why was the home removed from the market in the first place? If your home has been on the market for some time, it may acquire a reputation among potential home buyers. To avoid a bad rep, sellers and agents typically take some time to reassess the problems behind their listing and, eventually, relist. Having learned from the failure, you should come back much smarter, relist and sell the property in record time.
Every house can sell. If yours didn’t, there’s probably a reason for it. As already mentioned, there can be many reasons for a failed sale. The top three common issues we see are:
YOUR CURRENT REALTOR’S HOME SELLING STRATEGY
PROBLEM WITH THE PROPERTY
You can identify these issues based on the feedback from agents and buyers who saw your home. Ask your agent to ask every buyer’s agent about all the objections from their buyers. By taking constructive criticism, you can realize your mistakes and improve on your next attempt to relist.
CHANGE YOUR PRESENTATION
First impressions are the most important. If your home doesn’t catch buyers’ interest right off the bat, the listing is already at a disadvantage to competitors.
A well-presented house with high quality photos will get more viewers, while listings with poor photos will struggle. Photos taken in the winter used to market a property in spring gives buyers the wrong impression about the property. Changing the photos as the seasons change shows buyers the home is fresh and doesn’t set off red flags about that reputation.
The right staging in real estate marketing can also outweigh pricing. Replacing antique furniture with modern style furniture appeals to younger home buyers. Staging a vacant home also helps buyers visualize themselves in that space, while eliciting emotion to see how they can make it their own.
MAKE LOW-COST IMPROVEMENTS
Houses that move fast are those labeled as “move-in ready.” Fortunately, there are multiple low-cost improvements you can make to the home to increase its move-in ready appeal. Painting the interior or exterior can help your home’s sale. A deep clean can also give a better impression, as well as cleaning up the trim and landscaping by adding new affordable plants.
If there are minor repairs, take care of them in advance. If they’re more major, hire a professional. While at it, get a home pre-inspection to gives yourself an idea of what to improve before the home is under contract. This is also a reassuring and motivating sign to buyers when deciding to make an offer on a home. It’s common that expensive improvements rarely pay for themselves, so focus on those obvious little improvements that could win you more viewers and ultimately a great price.
REEVALUATE THE PRICE
One of the factors for an unsalable house is the price. It most situations, we suggest never putting a home back on the market at the same price or relisting a home at a higher price.
Don’t hesitate to have a frank discussion regarding the price with your agent. Taking emotion out of the conversation will allow you to see the buyers perspective: Just because it was your dream home, doesn’t mean everyone else sees it the same way. If your home has been on the market for some time, try considering the market conditions. If you’re in a higher market, sluggish sales may motivate you to lower the price.
Making price changes often triggers a new pool of buyers, especially in the digital age where email is the preferred method of communication. A small adjustment can trigger an email alert to buyers who have set up a home search based on their price range. For example, if your home is priced at $310,000, you’re not reaching buyers who’ve set their search for homes priced between $250,000 and $300,000. Reducing the price to $299,900 will draw new impressions to the property without a significant price cut.
SWITCH UP THE MARKETING
With most home buyers looking at homes online, it takes more than just a newspaper ad to sell a house. Experienced agents have networked with area agents so they can quickly alert other agents about the sale. In addition to that, realtors need to be aggressive in marketing their properties online. Simply putting your listing on Zillow isn’t enough anymore. Out-of-the-box strategies such as social media marketing, online pay per click advertisements, and search engine optimization will help you reach more people in less time.
HIRE THE RIGHT AGENT
Lastly, find the right agent for selling your home. You don’t have to fire your real estate agent after an unsuccessful home sale, but consider creating a fresh listing by letting a new agent relist the property. In a majority of cases where a house fails to sell, you’ll find that the agent was at fault to some degree.
The seller may have also not done their due diligence. Perhaps you didn’t interview multiple Realtors, or didn’t ask the right questions. It’s important to pick the realtor that will get the job done, and not someone you know because their your friend or family.
With more people keeping a tighter hold on their finances in the recent years, the traditional estate or garage sale has become a popular resource for homeowners getting rid of their belongings and hopeful consumers looking for a deal.
It’s what we like to call a win-win: getting good deals and unloading excess clutter while making a little bit of cash is something that seems to benefit everybody. Although having a estate sale can be a great idea if you’re looking to sell your home, there are some people who don’t want to go through the process of planning.
Don’t let the hassle and other stress inducing experiences prevent you as a seller to make some fast cash. That negative understanding of a garage sale induced headache may deter you, but remember successful, hassle-free garage sale is all in the planning. A system and thoughtful preparation ensures you will have control over the garage sale, and it won’t run you into the ground.
This guide to holding an estate, garage, or yard sale will give you the best tips you’re looking for. Remember, if you are going to do it, make it worth your time.
Scroll down to the bottom of this post to find more information on estate sales and finding garage sales in Cleveland near you!
ORGANIZATION IS THE FOUNDATION
To have an effective garage sale, be organized and efficient. This means your garage sale should check off all these boxes:
1) THE ART OF CATEGORIZING AND ARRANGING
Try to stick with selling items that are in working condition and are not parts of something. If you do have these things, consider setting them aside so they can be hauled off with whatever is left at the end of the sale.
Put things near each other that relate to each other. For example, arrange your kitchen items with other household items, while another area can be focused on toys and children’s items. Not only will this be more enjoyable for your buyers, but you will also have a better idea of your inventory and direction. This also gives direction if someone inquires about a specific type of item.
2) A PRICE ON EVERYTHING
Negotiating can be the primarily emotionally draining and time consuming part of a estate sale, so price out everything don’t overprice anything regardless of its condition. You don’t have to cheat yourself, but be reasonable with that you’re offering. You will also find estate sale enthusiasts don’t enjoy haggling either. It’s the deal they’re after and you will have a more successful estate sale if you play to that.
3) SCHEDULING THE FIRST WEEKEND OF THE MONTH
If you are a strict budgeter, you know there is more money in the bank at the beginning of the month than the end. You’re more likely to get your things swapped up fast when deals are good and the money is there to spend.
4) “ONE DAY ONLY!” VS. “3 DAY GARAGE SALE”
Remember, our goal is to keep the irritation to a minimum, so we recommend to limit the garage sale to one day only, then get rid of your belongs that don’t sell. Also consider that garage sale enthusiasts typically don’t bother with second day sales because the deals and desirable items and are already gone.
If you are experiencing low traffic, bad weather, or still have a lot of items available, it may be a good idea to hold the sale an extra day.
5) START AND END AT REASONABLE HOURS
Research when other estate sales start. Typically you will find most estate sales start at 8 am, but enthusiasts get the jump start and come as early as 6:30 a.m. Never start too late, because your buyers might be lost to your competition. If they get too far down the road, you’re likely to be forgotten.
6) ADVERTISING WITH PURPOSE
Some local media charge a small fee garage sale listing, some don’t. Remember, most people are searching everything online, so consider posting your sale in online resources dedicated to garage sale listings free of charge. Once you decide where you want to advertise, jump on placing an ad ahead of time to get the maximum exposure.
Some details you might include in your ad are the date, your address, time range, and a very brief description of what will be available. Visuals such as pictures and maps are also helpful and grab the attention of the visual audience when placing an ad online. With all the talk of going digital, it can be easy to forget about more traditional methods. Make a compelling flyer with all the details listed above and post on local bulletin boards.
Lastly, you will want to have proper signage for your garage sale as well. Make your sign visible and durable by using anything from thick poster board to a weighted cardboard box. Make the lettering big and readable to passing cars, so they can read the sign. A garage sale sign should be simple and neat but branded with extra-large bold letters. Your address and arrows are also good indicators.
7) CAN’T SELL EVERYTHING?
The organization doesn’t stop when the estae sale is over. Having in mind a day and time a local second-hand store, such as Re-Use, can pick up leftover items will help make sure your unwanted belongings are gone for good. Have all your things organized per the instructions of the pick-up service.
OTHER GARAGE SALE TIPS
Don’t be afraid to engage your customers in friendly conversation. Not only is this a good way to meet interesting new people, but your customers will feel even more welcome and free to look around more. They may even purchase something that weren’t planning on buying.
Offering something for free can be a nice gesture, especially some early morning coffee, or even a smaller item that can be given away for free.
Hold Off and Wait for Everyone Else
Some communities and neighborhoods work together for a group garage sale that lure in crowds from local and surrounding areas. This can be an easier way to create more sales and get rid of stuff fast.
Efficiently preparing for a garage sale can be the one thing that keeps it close to a pleasant experience. Along with planning ahead, take time to briefly familiarize yourself with your local laws and ordinances. Not only are there some items that can’t be legally sold in a garage sale, in some areas, it is necessary to buy a permit to even have a sale.
Now all you will need is a power strip plugged into an outside outlet, a calculator, as well as plenty of change and one dollar bills and you’re ready for your garage sale. One last tip that can make or break your garage sale: Don’t forget to check the weather!
FIND GARAGE SALES NEAR ME:
With the change of the season, leave winter behind and put a little spring in your step by starting the process of listing your home.
If you have been holding off for the “busy” season, the wait is over! Selling your home doesn’t happen overnight. Spring is one of the best times of the year when it comes to buying and selling homes in Cleveland.
Every spring, homebuyers flood the market in response to the slow pace of the winter and holiday months. In response, home sellers put their houses on the market with their gardens in bloom lush lawns covered in green.
In fact, the Cleveland real estate market is almost two months ahead of where it usually is. Our clients’ homes are moving fast, and there is simply not enough inventory on the market.
We are seeing a steady flow of prospective purchasers. Foot traffic in our current listings is strong, and open houses have been well attended. Our Google Analytics of the Young Team website are indicating a steady flow of visitors. These buyers are ready and out looking for the right home that fights their needs. Inventory levels are low, and in some areas there are not enough homes for sale to satisfy the number of buyers in the market.
WHY SHOULD YOU CONSIDER SELLING IN THE SPRING?
- Supply of ready, willing, and able buyers is the highest in the spring
- More daylight meaning homes will typically show better
- Buyers typically get their income tax returns during the spring which can be put towards the purchase of a home
- Landscaping and curb appeal during the spring is better than the fall or winter months
Check out these things you should do before listing your home. It’s not too late to get these done! Most of our clients get their home-to-market list done in two weeks, right before the listing hits the market.
GET SPRING CLEANING DONE
As you know, spring is a great time to get your house cleaned up and ready for the busy season. Make sure your house is in tip-top shape early in the season to make sure your home stands out to potential buyers. We know keeping the house clean and presentable is no easy feat, but it reduces the stress when you’re ready to list.
DON’T WAIT FOR THE HOME INSPECTOR
Consider a Professional Inspection: It is well worth having an inspection completed prior to selling your home. This way, you are well-prepared and will know if you have any additional repairs to make.
We recommend to all our clients that they hire a home inspector to help identify early problems early on. These things may pop up during the real inspection and could delay your closing or scare buyers altogether. Fixing problems before the home inspection is usually cheaper and more cost effective in the long run.
Improving the quality and value of your house is the best way possible to ensure your home is sold. They can be as simple as adding plants to the yard, fixing a fence, or painting. Generally, we find buyers like to see a list of improvements and upgrades to show value. No matter which upgrades you choose, they all will work together to make your house even better than it is now.
BOOST YOUR CURB APPEAL
Most buyers have already made up their mind before entering the house, so focus on your curb appeal! Tend to those overgrown bushes, and check shutters and window trim. Make sure your address is clearly visible, and that window coverings are hanging evenly.
HIRE A SEASONED REALTOR
Experienced realtors know the market and your neighborhood- that’s why they’re seasoned professionals. Finding a realtor in Cleveland with established marketing channels, local expertise, and proven results will help the entire process go smoothly and relieve the burden off you. Hiring a team will only help you that much more, as they typically have dedicated individuals to do the work for each step of the selling process.
A seasoned agent will be able to assess and accurately be able to price your home correctly. This is important if you want to sell your home during peak season when the majority buyers are entering the market.
FIND THE RIGHT HOUSING COMPARABLES
This step you can leave to us. It’s important to not price your home above last years highest selling price point. While that is an indicator of how the market may behave, it’s more likely that price will be out of most buyers’ price ranges. Putting your home on the market with an accurate and fair price early in the season will prevent drastic price drops and future hardships, especially if you’re looking to move before school starts in the fall.
A fair listing price is one of the leading factors of a home’s sale success. That is why you need to find the right agent who has the experience and knowledge of pricing in your area.
Carefully consider how much time and money it will take to bring your home to market. Write up a timeline, prepare a realistic budget for repairs and upgrades, and keep an eye on your competition. If you select a Realtor in advance, they can help you prioritize your list and make key decisions.
Hungry buyers are out now looking to get a jump start on the busy season. If you’re a home seller there is no reason you shouldn’t be listing your home now rather than later. To maximize your sale price, stand out from the competition and sell quickly.