Sellers who anticipate losing money if they sell their home may wonder why they should spend a dime fixing the place up for sale. Isn’t this throwing good money after bad? Even sellers with plenty of equity in their homes often figure the way to get the most out of the sale is to cut sale costs to a minimum.attitude is directly contrary to the notion that the way to make the most money on the sale of a home is by pricing the property appropriately for the market, and by making cost-effective improvements that will result in a higher sale price in a shorter time.

Today, many housing markets have plenty of homes for sale and far too few buyers. For years, buyers competed with one another in order to buy a house. Now, sellers are being forced to compete with other sellers in order to get their home sold.

Consider the competitive nature of the market when deciding if you’re going to improve your home before selling it, and how much you’ll invest. Keep in mind that the point of fixing up a home to sell is to MAXIMIZE your return from the sale. Don’t waste money on improvements that have little or no value to buyers.

Ask your real estate agent or a staging decorator to walk through your home with you for the purpose of determining what fix-up projects you should ideally complete before marketing the property. 

Imagine there are five homes listed for sale in an area, all similarly priced, but not all in the same condition. Three houses have old, worn carpet covering most of the floors; one has linoleum over the floor; and the fifth has pristine, recently refinished hardwood floors. Most buyers will gravitate to the home with the beautiful hardwood floors.

The best houses in the best condition and offered for the best price usually sell quickly. A fast sale is important to some sellers in this market. The sooner your home is sold, the sooner you stop paying mortgage payments, property taxes and various maintenance costs.

DON’T FORGET TO CONSULT YOUR REAL ESTATE PROFESSIONAL!

This article can be found at:  Inmannews

An article from RealtyTimes.com reports that nobody is going to blow a whistle and say, “It’s time to buy!”, so it’s important to pay attention to these signs in your marketplace.  One important sign to notice is when inventories start to decline.  This usually means that the best buys are leaving the market, and best doesn’t necessarily mean cheap.  Another sign is when mortgage applications increase, particularly purchase applications.  This means homes are about to leave the market, so less inventory means firmer prices and sellers will stop dropping their prices.  And finally, pay attention to the reduction in days on the market.  When DOMs are shorter, that could be a sign that a seller’s market is coming.  

Stop paying attention to the national media.  Fear has sidelined buyers even in good markets, and that’s exactly when you need to take advantage — before other buyers wise up.

Second, be ready to pounce when you see the home you want.  Don’t let this opportunity pass you by.  If you are in the market for a new home, now is the time.  Mortgage Rates have dropped and there are lots of homes to choose from.  Waiting for the market to “bottom out” could mean that you miss the opportunity to buy a great home, at a great price, with a great interest rate.

Some homebuyers have asked me how they can be sure if the values have dropped as much as they are going to.  Well, no one has a crystal ball.  Just as no one expected the boom we had in real estate here in the valley a few years ago, and no one expected just how far the values would drop, no one can be 100% certain that they have fallen all they will fall.  But buyers need to look at the overall picture.  If the mortgage rates are good, there are a lot of homes to choose from, and sellers are dealing, then NOW IS THE TIME!  You just might find the home of your dreams!

Give me a call.  Let’s talk.