With +/- 25 listings at any given time, ensuring hat my sellers are putting their best foot forward is always a priority with me. Our markets are seeing double and triple the normal amount of inventory, which means your home can get lost in the crowd! Everyone knows Sellers should de-personalize their home, light candles, blah, blah, blah. Ok, those things work, but can you tip the scales in your favor in addition to those tried-and-true selling techniques?
I think you can and I'm going to share some great ideas with you:
1) Map your home for sale with drive/walk times and distances to local restaurants or other places of interest (bike trails, malls, etc), playgrounds, schools, parks, etc. Our culture is becoming more exercise-conscious, walking-friendly, and main street centered.
2) Make a comprehensive list of all your upgrades with the year it was upgraded. Buyers love to see the years when certain items were updated - it gives them a sense of security and ability to forecast potential repair/replace issues. Don't have remodeled/replaced items on your list - - - your list price better reflect that!
3) Make a list of all contractors who normally do work on your home - plumber, electrician, roofer, pest control, etc. Having this issue shows buyers you care for your property and have a team of certified professionals to rely on.
4) This is big - assemble your last year's worth of electric bills...better yet, itemize your monthly utility bills. That's the greatest unknown when buyers are looking and putting that info out there shows you are proud of your home. Are your utility bills large? Consider making changes to you home to mitigate those costs (new insulation, low flow toilets and shower heads, new energy-efficient appliances, etc).
5) Include a copy of the last couple of monthly meeting minutes for your HOA or COA. Unless your community homeowner's association is a warzone, including meeting minutes is a great way to familiarize your potential buyer with your community.
6) ***GOOD TIP*** Ensure you have a copy of you Condo Docs/Deed Restrictions & latest Financials on hand. I always have to tell my buyers that we normally don't see condo/hoa docs until we're under contract. Analytical Buyers HATE that answer. Soothe their fears by having those docs on a personailzed thumb drive or CD.
7) Have warranty info for machanical items summarized on a separate sheet. it will give buyers great piece of mind and they may be a little more "accepting" of flaws in home inspection.
8) This one takes some coordination but can really seal the deal! Let a neighbhor know when your showings are and when the buyers arrive/depart, have that neighbor wave, say good morning, or start casual small talk. This feat req's some coordination and a personable neighbor, but it will instill a sense of belonging in your buyer and allow them to picture themselves living there.
These are just some out-of-the-box ideas - good luck!
Monday, February 22, 2010
Monday, February 15, 2010
I'm going with an anti-real estate topic this week. I could wax poetically about the appraisal crisis taking place in our communities and how it's crippling our market, but instead I will focus on something lighter and more positive - our fascination with all creatures great and small.
One of those fascinating creatures is the Osprey, a bird of prey found in the Tampa Bay area. Taken for granted by those that live here (I'm guilty) these wonderful birds are awesome to watch. Living primarily on fish, it is not unusual to watch them fly with one dangling from there claws as they make their way bac to the nest.
Now, you can get up close and personal with ospreys in dunedin on the DunedinOspreyCam.com website. It features fun facts about the birds and a 24 hour all weather camera that peers into their nest!
Check it out at DunedinOspreyCam.com
One of those fascinating creatures is the Osprey, a bird of prey found in the Tampa Bay area. Taken for granted by those that live here (I'm guilty) these wonderful birds are awesome to watch. Living primarily on fish, it is not unusual to watch them fly with one dangling from there claws as they make their way bac to the nest.
Now, you can get up close and personal with ospreys in dunedin on the DunedinOspreyCam.com website. It features fun facts about the birds and a 24 hour all weather camera that peers into their nest!
Check it out at DunedinOspreyCam.com
Monday, February 08, 2010
Military sellers reimbursed for losses
WASHINGTON – Feb. 8, 2010 – Using $555 million in Recovery Act funds, the Department of Defense has expanded a program that can reimburse employees up to 90 percent of the price they paid for a primary residence to avoid a loss when they go to sell. The Department identified Florida as having the most home sellers who qualify for the program.
The Pentagon’s Housing Assistance Program now applies to:
• wounded service members relocating for treatment or medical retirement and survivors of those who have died while deployed
• military personnel and Defense Department civilians affected by the 2005 round of base closings, as a result of the Base Realignment and Closing initiative
• military personnel moving to a new base
Previously, applicants had to demonstrate that the closing of their base contributed to the decline of the area’s real estate market and a resulting loss in sales. That requirement has been waived under the expanded program.
As of Jan. 18, 2010, almost 4,000 eligible applicants for the expanded program have been identified and 429 claims have already been paid for a total $32.8 million, according to the Pentagon.
After Florida, the Defense Department says it also expects applications from California, Virginia and Georgia.
For more details about the program, including eligibility and limitations, download this PDF.
© 2010 Florida Realtors®
WASHINGTON – Feb. 8, 2010 – Using $555 million in Recovery Act funds, the Department of Defense has expanded a program that can reimburse employees up to 90 percent of the price they paid for a primary residence to avoid a loss when they go to sell. The Department identified Florida as having the most home sellers who qualify for the program.
The Pentagon’s Housing Assistance Program now applies to:
• wounded service members relocating for treatment or medical retirement and survivors of those who have died while deployed
• military personnel and Defense Department civilians affected by the 2005 round of base closings, as a result of the Base Realignment and Closing initiative
• military personnel moving to a new base
Previously, applicants had to demonstrate that the closing of their base contributed to the decline of the area’s real estate market and a resulting loss in sales. That requirement has been waived under the expanded program.
As of Jan. 18, 2010, almost 4,000 eligible applicants for the expanded program have been identified and 429 claims have already been paid for a total $32.8 million, according to the Pentagon.
After Florida, the Defense Department says it also expects applications from California, Virginia and Georgia.
For more details about the program, including eligibility and limitations, download this PDF.
© 2010 Florida Realtors®
Monday, February 01, 2010
Have you loved your Short Sale Buyer today???
I was recently commiserating with a colleague of mine about the state of the real estate industry and how short sales should be ceremoniously renamed "long" sales 'cause there ain't nothin' short about ‘em!
She shared a short anecdote with me that a seller had become uncooperative because a buyer wanted to do multiple inspections, show the home to visiting family members, etc. My colleague related that the seller had taken the position that the buyer was getting such a good deal on the home that they (the buyer) should just be happy with the deal and leave the seller alone.
I haven't had that occur (yet) and I can understand the seller’s point of view. No one wants to sell their property for less than market value, lose their down payment and any equity they once had, and have to take a small hit on their credit to do so. let's face it...there are hurt feelings involved.
As I ruminated on this story one night, I got to think that the seller should be grateful they have a buyer who's willing to take the home off their hands. Here's why:
1) The buyer has the courage to buy in a depreciating market. If Apple stock showed 4 years of cumulative losses, how eager would you be to throw your money in? Granted it doesn't seem like it can go much lower and in some places has reversed course AND we’re talking about mortar and bricks vs. paper stock, but you get the point. Buyers should be applauded for wading into the market rather than sitting on the sidelines.
2) Buyer’s have the patience to jump through all the hoops a short sale requires. I have counseled too many Buyers not to get their hopes up but inevitably all do at some point in the transaction. Having the saintly patience and perseverance to wait for some behemoth lender in a land far, far away to approve of a deal where they take an immediate loss should be rewarded, if just with the appreciation of the seller. Tom Petty must have been in a short sale deal when he prophetically wrote, “The waiting is the hardest part!”
3) The most import reason a seller should be appreciative of a short sale Buyer is that this Buyer is going to relieve you, Mr. Seller, of tens of thousands and possibly HUNDREDS of thousands of dollars of negative equity. When combined with the government’s non-taxation of that forgiven debt (for primary homes only), you have just witnessed one of the biggest get-out-of-jail-free, please-move-on-with-your life, water-under-the-bridge cards ever thrown a citizen’s way!
The moral of this anecdote is: don’t bite the hand that will get you out of your majorly upside down mortgage. In fact, put the Buyer on your holiday card list! The only thing a short sale Buyer is guilty of is having the ability to purchase a home in a down market…essentially, good timing.
Love your Buyer and they will love you back (and get you out of that mortgage you hate paying!).
I was recently commiserating with a colleague of mine about the state of the real estate industry and how short sales should be ceremoniously renamed "long" sales 'cause there ain't nothin' short about ‘em!
She shared a short anecdote with me that a seller had become uncooperative because a buyer wanted to do multiple inspections, show the home to visiting family members, etc. My colleague related that the seller had taken the position that the buyer was getting such a good deal on the home that they (the buyer) should just be happy with the deal and leave the seller alone.
I haven't had that occur (yet) and I can understand the seller’s point of view. No one wants to sell their property for less than market value, lose their down payment and any equity they once had, and have to take a small hit on their credit to do so. let's face it...there are hurt feelings involved.
As I ruminated on this story one night, I got to think that the seller should be grateful they have a buyer who's willing to take the home off their hands. Here's why:
1) The buyer has the courage to buy in a depreciating market. If Apple stock showed 4 years of cumulative losses, how eager would you be to throw your money in? Granted it doesn't seem like it can go much lower and in some places has reversed course AND we’re talking about mortar and bricks vs. paper stock, but you get the point. Buyers should be applauded for wading into the market rather than sitting on the sidelines.
2) Buyer’s have the patience to jump through all the hoops a short sale requires. I have counseled too many Buyers not to get their hopes up but inevitably all do at some point in the transaction. Having the saintly patience and perseverance to wait for some behemoth lender in a land far, far away to approve of a deal where they take an immediate loss should be rewarded, if just with the appreciation of the seller. Tom Petty must have been in a short sale deal when he prophetically wrote, “The waiting is the hardest part!”
3) The most import reason a seller should be appreciative of a short sale Buyer is that this Buyer is going to relieve you, Mr. Seller, of tens of thousands and possibly HUNDREDS of thousands of dollars of negative equity. When combined with the government’s non-taxation of that forgiven debt (for primary homes only), you have just witnessed one of the biggest get-out-of-jail-free, please-move-on-with-your life, water-under-the-bridge cards ever thrown a citizen’s way!
The moral of this anecdote is: don’t bite the hand that will get you out of your majorly upside down mortgage. In fact, put the Buyer on your holiday card list! The only thing a short sale Buyer is guilty of is having the ability to purchase a home in a down market…essentially, good timing.
Love your Buyer and they will love you back (and get you out of that mortgage you hate paying!).
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