Get those buyers in before winter

As the cooler and colder weather is starting to breeze through the midwest, we’ve reached the part of the season that might be the end of regular home showings through the holidays.  If you have your home on the market to sell, here are some tips to get it shown and sold prior to wintertime, according to this AOL article.

First of all, the number one tip this article stresses is that, if you don’t have to sell over the winter, don’t.  If you’ve ever sold a home before, you know that you’ll get a lot less showings in the winter because of the weather and the holidays.  People don’t want to go out traipsing through snow and sleet to look at homes unless they have to.  So if you don’t have an urgent need to sell, you might consider taking it off the market until after the holidays or early spring.  We always say after the Super Bowl is a good time to get it relisted.

 1. Keep your photos updated.  Just like it’s important when your home is for sale during June to remove the pictures of the snow-covered driveway, it’s equally important to do the opposite.  If you’ve been listed since April with a green lawn and trees in full bloom, you’ll want to switch photos to that showing some snow and the way the interior looks with the light on.  You don’t need to make it obvious through your photos how long your home has been on the market.  You might also want to consider updating your remarks to reflect upon the new season and the holidays, such as, “You’ll love winter mornings nestled in front of your gas fireplace.”

2. Target your specific buyer.  Is your house just a few-minute walk to the local elementary school?  Consider advertising in a PTO or PTA bulletin.  Located 3 minutes from the commuter train station?  Post a flyer there.  If you have farmland with horse stables, you might want to advertise in an equestrian magazine.  Built a home gym in your basement with a steam shower?  Post a flyer at the local gym.  You get the idea.  Think outside the box.

3. Make your home accessible.  Keep driveways and walkways clear of snow, ice, and leaves so that buyers can easily reach the front door.  Keep the heat on and turn the lights on.  And as I always stress, try not to turn away any showings for any reason.  You never know if that buyer will get a chance to come back at another time.  And they could be the future buyer of your home!

If you have any more tips, I’d love to hear them.  Please leave me a comment or visit me online.

Your online activity could cost you a home deal

With the influx of people using social networks today, such as Facebook and Twitter, it’s very common to know all the going-on of your friends and family.  It’s great to find out where everyone is when, and share important news stories and photos.  However, when it comes to real estate, it’s best to be cautious with what you post.  Here’s why:

In a recent MSN article, a real estate agent mentioned how her client lost a house.  She was looking in a particular neighborhood and went online and posted something like “We found out dream house in XYZ neighborhood!”  Well, one of her friends saw the post and shared it with another friend who was looking in that same neighborhood at the one house for sale.  That person went and offered more money and ended up buying the home.

I’ve always told my clients never to give out information until a deal is closed, especially the price paid, because if something happens before you get to closing, now someone has information on what the seller was willing to take and could offer a better price.  This is also why real estate agents never share what a home goes under contract for until it sold.

You also have to be careful when posting pictures because other people may be able to recognize the home.  But not all social network activity surrounding buying or selling a house is bad.  Here is when it’s okay to post.

1. You’re the seller and want people to know your house is available.  The more people that know about it, the more potential buyers you’ll see.

2. Asking what people know about a certain town in terms of schools, activities, etc., especially if you’re new to the area

Otherwise, you can figuratively stick your foot in your mouth by posting something that other people shouldn’t know.  And for security reasons, never post that you’re going to be viewing open houses or out looking at houses because then people know you’re not at your home!

I’d love to hear more thoughts on this subject.  Please leave me a comment or visit me online.

 

What buyers are looking for this year

We all know there’s a lot of houses on the market.  Inventory is high.  Values are down.  It’s harder to get a loan.  Interest rates are low.  People’s discretionary income is lower.  So what does all this mean in terms of the housing market?  Here’s a list of some items that Bankrate.com has put together of what home buyers are looking for when they buy a home this year.  This will also help sellers be aware of how to stage their home and what buyers are looking for when it comes time to negotiate.

1. A deal.  An amazing deal.  They want to tell everyone they know that they got this amazing house for such a good deal.  In 2007, it would have cost them $500,000, but they just closed on it for $395,000.  So this makes them a lot more critical.  They’re going to take longer than usual to find a house.  They’re not going to feel like they have to settle.  And that’s because they don’t.  Unfortunately for sellers, buyers hold the power when negotiating right now.  So understand that when turning away a low offer.  It might be worth it just to counter to see what happens.

2. Good condition.  I mentioned before that discretionary income is limited.  They don’t want to have to redo carpet and paint and put in new appliances.  They want homes that are more updated and in good condition.  When showing your home, make sure it’s clean and presentable.  It’s like putting your best foot forward at a job interview.  You only get one shot.  Make it a good one.  And reconsider taking your appliances with you when you move.  It’s likely the buyers want them to stay with the home.

3. More green.  It’s a lot more common these days to find buyers looking for energy-efficient appliances, windows, furnaces, and air conditioners.  Again, this helps them save money down the line, aside from being good for the environment.  Buyers want to know that maintaining their home will be easy on the wallet.  So if you are looking to sell and plan to upgrade some items, try to go as green and energy efficient as possible.

4. Smaller homes.  This is not to say that if you are selling a 5,000 square foot home that nobody will be interested.  But consider how you stage your home.  Make use of space.  It’s more common that buyers aren’t interested in a sitting room.  Make it into an office.  Create a craft room with your sixth bedroom.  Buyers want homes that serve a purpose because they don’t feel like they need the extra space if all it is is just space.  “Three to five years ago, if they could get a loan that would get them into a McMansion with stone and tile and brick and more rooms than they needed, they would do it,” says Jeff Wiren, president of the Portland Metropolitan Association of Realtors. “Now they’re saying ‘I don’t know if I want to heat that place and clean it.’ They’re being much more realistic.”

So those are four of the nine items that Bankrate thinks buyers are looking for in 2011.  What do you think?  As a buyer, do you agree?  I’d love to hear your thoughts.  Please leave me a comment or visit me online.