Category: homeseller tips

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Coping with today’s market

It’s that time of year again; the real estate market is getting hot along with the temperature.  And that’s about the only thing most are able to predict about this year’s real estate market.  Since the Great Recession, early forecasts about home buying and selling trends have typically missed the mark; the trends have varied, sometimes significantly, from year to year.  Notwithstanding a very active season, many will be in for a surprise; some will be pleased about their home sale, while others not so much.  And if you are selling a home, I’ve provided some tips to help you cope with today’s market:

Home buyers in today’s market

The most important point to remember this year: many home buyers are looking to buy a home, but not necessarily yours.  The notion that your home appeals to all home buyers is false.  If your home isn’t selling as fast as you thought it would, consider stepping back for a moment to re-evaluate your home and marketing plan.

Most home buyers are looking for a “turn-key” home and won’t settle for just anything on the market.  Additionally, most are not willing to spend time and money updating a home they just purchased.  Know your home before marketing it and consider making repairs if your home has considerable deferred maintenance.

Prepare your home for today’s market

today's market
What to expect in the housing market (infographic from nar.realtor)

The next item to remember this year, is that no matter how well your home shows: be prepared for a less than complimentary home inspection.  Because there are a number of systems and many components to your home; chances are that there are items that need attention, repairing, and/or replacement – which the home inspector will cheerfully point out.  Home inspectors will visually inspect your home, probing structural components when necessary; a detailed report indicates their observations.  Most home inspectors are not experts in all aspects of home construction; and commonly recommend other professionals to examine items more closely.

As a home seller, you should understand that buyers in today’s market are under pressure about the investment they are undertaking; and are willing to walk away based on the home inspection findings.  Sometimes, it’s not what – but how it’s said that will rattle buyers.  Regardless, an uncomplimentary report does not have to blow up the deal.  Be prepared for extra rounds of negotiating after the home inspection.  Every transaction is different, and your agent should provide guidance on what’s reasonable and appropriate.

A final thought: don’t get greedy, but don’t leave money on the table either.  Although inventory remains an issue in a number of areas, don’t feel compelled to over price your home based on the lack of homes for sale.  However, don’t be complacent with the “average” home sale price of the neighborhood either.  When comparing recent neighborhood sales, you should make pricing adjustments (plus and minus) depending on differences in your home’s age, amenities, size and other factors.

A word of caution: There is a growing trend in the reliance on automated valuations by real estate agents.  AVM (automated valuation models) are helpful, but not always accurate.  These reports are based on public information about your home and may not include correct information.  If your agent recommends a sale price based an automated valuation, you should review the report attentively.  If the report confidence level is low to medium, be prepared to carefully review the report and comparables, making adjustments as needed.

Original located at https://dankrell.com/blog/2016/04/21/home-sale-tips-on-coping-with-todays-market/

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Disclaimer. This article is not intended to provide nor should it be relied upon for legal and financial advice. Readers should not rely solely on the information contained herein, as it does not purport to be comprehensive or render specific advice. Readers should consult with an attorney regarding local real estate laws and customs as they vary by state and jurisdiction. Using this article without permission is a violation of copyright laws.

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Moving day does not have to be stressful

by Dan Krell © 2010.

If it’s not the negotiating, the inspections, the mortgage process that makes you uneasy about the buying/selling process, then it’s the thought of moving. Yes, thoughts of moving and all that may go along with it can make even the most stable person break down.

The two main pieces of advice most professionals offer about moving include planning and organization. Planning your move will keep everything in perspective as you create parameters within which all the activities of your move will be completed. Organizing allows you to keep track of your activities and belongings during your moving period.

Much of the stress that is felt during the move stems from feelings of being overwhelmed by thoughts of everything that must be accomplished during your move. Mitigating the stress and emotion of the move is easier when you have a timeline (of actions and goals) that ends on the day you vacate the home. Having a daily goal will allow you to focus on the task at hand without getting distracted. Each day’s goal can be determined by going into each room noting what needs to be accomplished, including any ancillary activities that need to be completed.

An important aspect of a move is organizing what items are coming with you and what items can be thrown out or donated; this should be easy if you have already de-cluttered your home prior to selling. Staying organized during unpacking can be accomplished by making notes of room destinations for boxes; the notes can be detailed to include whose belongings are in each box as well the contents.

Moving to a new home is not a cheap endeavor; you are sure to spend money on the move even if you’re a do-it-yourselfer. The cost of moving can vary depending on the moving company and services you choose. Doing it yourself is not always the least expensive route; the total cost of a truck rental, packing supplies and your time may compare to the price of a limited service mover. If you’re busy, then you might appreciate a full service moving company that will do all of the packing for you. À la carte moving services may be easier on your pocketbook and also eliminates services you may not need. When shopping for a moving company, make sure they are reputable by checking their credentials and ensuring they are bonded and insured.

Portable storage units have become the “hybrid” of moving because it allows you to do all the work of loading your possessions into a container, but the delivery of the storage unit is carried out by a moving company. The storage unit can either be delivered to your new home or placed in storage until you are ready to unpack.

Moving into a new home is often associated with life events- the good ones and sometimes the not so good ones. Besides having to move, life events have their own challenges; so it’s often helpful to recruit as much help as possible, not just for the physical labor but for the emotional support too.

Although planning and organizing can minimize stress and drama, your plan may need to be flexible to adapt to any unforeseen obstacles; as Robert Burns’ poem To a Mouse testifies: “The best-laid schemes o’ mice an ‘men…(often go awry).”

This article is not intended to provide nor should it be relied upon for legal and financial advice. This article was originally published in the Montgomery County Sentinel the week of June 14, 2010. Using this article without permission is a violation of copyright laws. Copyright © 2010 Dan Krell.

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