Real Estate Information Archive

“My house is worth (much more or less than you thought) according to this website!”  Online estimators are not dependable when it comes to assessing the value of your home.  They can’t see the interiors, the condition of the roof, landscaping--you get the idea.  Your REALTOR® is your best source for setting a value for your property. 
 

“This kitchen needs remodeling before anyone will even consider buying this place.”  A thorough cleaning, sprucing up of the cabinets with new paint and hardware and installing an inexpensive backsplash and new faucet can make your kitchen a total selling point.  Spending too much on a complete renovation can cost more if you don’t get your return on investment. 
 

“If I overprice the house, then negotiate an offer, the buyer will think they’re getting a steal of a deal!”  In today’s world, most homebuyers have done their research, and may overlook your home simply because of the high asking price.  Have confidence in your agent’s ability to price it right.   
 

“Weekends are the only days I can have the house available for viewing.”  Setting limits on when an agent can bring potential buyers to the house is like putting up a Not For Sale sign in your yard. If you want the house to sell, it must be accessible even when it’s not convenient for you. 
 

“I’ll wait until I get a few more offers.”  Rejecting the first offer for a wait-and-see can leave your house on the market longer, which can lead to fewer offers.  Buyers will wonder if something is wrong with the house when they see the length of time it’s been for sale, leaving your home overlooked in their house hunting. 
 

“Hiring a real estate agent is going to cost too much.”  When you contract with a REALTOR®, you’re getting a professional that knows the market, handles the listing, marketing, showing, knows legal aspects of selling a home, and much more.  Taking the risk of selling your house on your own could cost you much more than an agent’s commission in the end. 

Jot down your ideas, and talk with family and/or friends, share your thoughts, and have some of them help you start a Downsize Plan. 
 

Think practically before you finalize your decision: 

- Do you want to stay in the general area you are currently in or do you want to move across the country? Compare your home’s value to the locations you are interested in, making certain it is financially wise to relocate there. Even a move across town to another neighborhood could cost more in the long run. 
 

- Maybe you have dreamed of traveling, and RV-living is more to your liking. If you think this is what you want, it may be a good idea to rent a travel vehicle for a long trip before you make a costly purchase, just to get an idea of RV life. 
 

- Are you tired of maintaining the yard and exterior of your home? Maybe a condo or townhome is right for you. 
 

If you decide to sell and move to a smaller home, the first step of the moving process is going through your belongings. Sixty&Me.com has some extreme but practical advice to help you start this emotional task. 
 

Do your children still have belongings stored in your attic or spare room? Have them pick a date to come over and go through them. They need to be aware that this is their last chance to have their things donated, thrown away, or keep them. Otherwise, you will be making those decisions. 
 

With a lifetime of “stuff”, it may simply be impossible to begin the first step on your own, and this is where a pro may help. Professional organizers do not only clean up closets, there are those who specialize in home clean-outs and downsizing.   
 

A smaller house means less space for your furniture. Find out if any family members want the pieces you will not take with you or get ready to sell or donate your pieces. Some thrift stores will refurbish the items, and domestic violence or homeless shelters can always use practical pieces in good condition. 
 

Once you finalize your decision, get in touch with a real estate agent. They will not only help you sell your home for the best price, but they can also assist with finding your new home! 

Pest damage and/or infestation is important to check for, as there are health and structural issues with either situation.  You could be completely unaware that critters are living in your home, so have an extermination service do a thorough inspection and take care of any extra guests you may have stowing away. 
 

Check for leaks turning on each faucet and watching closely under the sink for drips. Inspectors do not like dripping faucets, either.  Do not forget to test each toilet for running water, and clear any clogged or slow drains. 
 

Be on the lookout in tight dark spaces for mold or mildew, especially the attic space and on the underside of the roof. 
 

Outside, look at your roof carefully, taking note of missing shingles or sagging areas. 

Call your HVAC to set up a service call to make certain everything is running properly, as any issues will be flagged by an inspector. 
 

Make sure working bulbs are installed in every light fixture.  Inspectors need to make sure the electricity is working and blown light bulbs can throw that off. 
 

Repair cracks in windowsills, as leaky windows do not normally get high points during an inspection. 
 

If there are any cracks on walls, inside or outside, or in your foundation, have them checked out by a foundation expert, and if necessary, taken care of as soon as possible.   

- pizza, veggie burgers, coffee shop, or other places to eat 

- nearest parks and recreational areas; include neighborhood sports organizations for children 

- lawnmower or auto repair, neighborhood teen that mows grass, local handyman, tree service 

- HVAC repair, plumber, electrician, pool care,  

- banks, dry cleaners, salon, and barbershop 

- electricity, cable, satellite, internet, phone providers, heating fuel 

- sanitation pick up, local municipality office, water/sewage, emergency management, health department 

- additions, renovations, foundation repair, painting, floor work, roof repairs, snaked/cleared drains 

- plumbing, electric, septic/sewer, water pump, well water testing, ductwork repair/cleaning, added insulation, HVAC service 

- Cleaned gutters, window/door repair/replacement, tree work, lawn care, garage door opener  
 

- Electric, water, phone/internet, cable/satellite, landscaping/pool care, waste removal/recycling, heating fuel 

Nothing shouts “Don’t buy me!” more than an unkempt yard!  If nothing else, keep the grass cut and weeds and shrubbery trimmed. Put a bit more effort into it, and put down fresh mulch in the flowerbeds, and add a pot of flowers to the top step. 
 

No one wants to walk into a house with plastic storage containers stacked up in each room “hiding” the seller’s clutter. When you declutter, get rid of things, or put them in storage if you cannot part with them. Your rooms will appear larger without a lot of stuff in them. 
 

Touring a house that has a grimy stove or mildewed bathtub caulking is a huge turn-off:  no one wants to move into a dirty home. If you cannot find the time to clean the house spotless, hire a professional to do it. 
 

Natural light is important to most home buyers, so window treatments that block light need to come down, cleaned, and stored for moving. Add sheers, blinds you can open, or pull the shades up completely when you know the house is being shown. 
 

Items such as rodent traps or insect baits, should not even be an option for you. If you know you have mice or insects in your home, have them exterminated before you put a sign in your yard.  
 

Wall-to-wall carpeting is not as appealing to buyers today as it was in the past. If you can afford it, remove carpeting that is hiding hardwoods and spruce them up. No hardwood? Have the carpets professionally cleaned, and if you really need to sell, offer a new carpet credit to buyers. 
 

When you know about a problem and don’t bother to make repairs--think dripping faucets or cracked windows--buyers will not be impressed with your house, and if they’re remotely interested, offers won’t be close to your asking price. 
 

Any unpleasant odors will put off most people, and homebuyers will wrinkle their noses as soon as they walk in. Cleaning is important to remove dirt, but you need to clean for odors, too. Follow these tips from realtor.com® for removing any funky smells from your home. 

Energy Efficiency:  Energy-Star windows, smart or programmable thermostat, LED lightbulbs and full-house water heater are all attractive to buyers who are concerned about energy costs as well as those concerned about going green. 
 

Home office:  If there is no room in your house that is a dedicated home office, create one!  Stage a space in the kitchen or living area or smaller bedroom with what appears to be a working spot. 
 

Upgraded kitchen and bathrooms:  While completely renovating these rooms are a possibility, it may not be in your budget. Take a good look at each, and decide what wallet-friendly projects will make them look new: painting kitchen cabinets, new stainless appliances; in the bathroom, new faucets, lighting fixtures, or add pizazz by framing a mirror in glass tiles. 
 

Dining space:  An eat-in kitchen or open-flow kitchen and dining room are what many are looking for, especially families. Kitchen islands with seating will suffice when the budget does not allow for creating space for a dining table in the kitchen. 
 

Organized storage:  Buyers want homes with ample storage. While you can’t create space, you can build space in closets and the laundry room by adding shelving or pre-fab storage systems.  
 

Hardwood flooring:  While not an inexpensive project, consider putting hardwoods or less costly engineered wood in the entryway and living space. 
 

Security:  Front-door video cameras, plenty of outdoor lighting as well as smart lighting features are all great for starters.  

- First and foremost, find a seller’s agent that has a history of quick home sales.  You’ll need to do a bit of research, but if the REALTOR® has the experience, you’ll have a head start on getting your home sold sooner. 
 

- Having your house pre-inspected will save a step during the process and will help you with disclosure issues.  
 

- It wouldn’t make sense to price your house a bit below its value during a normal home sale, but if you want to get qualified buyers interested soon, this may be your best bet. Just prepare to lose some extra cash. 
 

- Consider selling the house at auction, but again, it will sell for a lower price than during a typical sale.  You may even be in an area where your real estate agent is your auctioneer as well, and you can be assured they have your interests at heart! 
 

- Offer buyer incentives: offer cash-backs or credits, i.e.., painting, new carpet, new kitchen appliances;  if the house is in a managed community, cover one year of HOA fees; pay the closing costs; set a closing date and offer a credit for meeting that deadline. 
 

- A major buyer incentive is to go so far as to pay down their mortgage costs with points, as the buyer will have a lower interest rate, saving them money in the end.  Investopedia tells us how seller-paid points can benefit the seller as well as the buyer. 

- Look for a REALTOR® who has experience with long distance sales and is comfortable handling the process with a seller that isn’t local.  Be available for lots of electronic communication with them. 
 

- Find a tax attorney or accountant with a background in handling out-of-state home sales, because you may have double capital gains taxes to pay.  A professional will be able to walk you through the tax process and let you know if there are any credits you can claim at the end of the year. 
 

- Unless your current home is paid for, you will have to pay as if you live in two homes once you move.  Bridge loans are always a possibility, and you’ll need to be certain your home sells within a certain time period, as bridge loans are short-term.  Learn more about bridge loans, and decide if one is the right fit for your budget. 
 

- Pricing to sell as soon as possible is imperative, so make certain you and your agent are on the same page.  From realtor.com®: “Your for-sale listing will have the most impact as soon as it is published. That’s when you’re most likely to get fair market value for the home—before people start questioning why your house has sat on the market for so long.” 
 

- Consider a remote closing, especially if you are so far away that when it comes time to close on the property, you have to spend a lot in travel costs. 
 

- Consult your insurance agent before you move, as your homeowner’s insurance will need some changes on your policy, as the house will be vacant. 
 

- Leave the electricity on, and have timers on outdoor lighting, and in a few rooms inside.  Keep your security system in place, as well. 

- The exterior of your home is the first thing a potential buyer sees; paint the siding, if necessary, and make sure the roof is in great shape.   

- Clean up the yard, front and back, and add some seasonal plantings for color. 

- A deep clean inside is necessary.  Wash windows, (inside and out), walls, draperies, scrub the bathroom’s every cranny, and shampoo the carpets. 

- If you have pets or a smoker in the home, a professional clean may be necessary, or even a new coat of paint on the walls. Pet odors and cigarette tar stay on everything.  Ask a friend or neighbor to come in and do a smell test and tackle any issues that they share with you. 

- Deciding what colors to paint the walls shouldn’t be of your personal taste.  Choosing neutral colors is best, and don’t stop at the living areas walls--paint every room. 

- Check all the doorknobs, and if any are sticking or simply not working, replace with similar hardware, or replace all of them.  It’s also important for all the exterior door locks to be in proper working order and replace any that aren’t. 

- Major repairs or restoration should be done by a pro or an experienced DIYer.  If you choose not to make a repair that you know is needed, you’ll have to be up front to your agent, make the needed fix is listed in your disclosure, and be ready to lower your selling price. 

- Sellers want their home to stand out, but don’t overdo it!  Using generally popular fixtures and finishes is better than going with the latest trend. 

- Even if your storage space is limited, make it appear like there’s plenty of room.  Remove seasonal clothing from closets, as well as occasionally used kitchen gadgets from cabinets and counters, and put them in storage with the rest of your things. 

- Consider staging, and if you can’t afford to go full scale, find a designer that will use your furniture and decorative pieces to maximize space, as well as have it looking its best.