A Little Paint Goes a Long, Long Way When Selling Your Home

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You may not realize this but the simple act of repainting the walls in your home can do wonders for the success of selling your home. And when you add up just how little it costs versus how much the payback is – it’s a no brainer!

Use Neutral, Flexible Colors That Appeal to the Masses

So what are some of the things to keep in mind when you are sprucing up your place before listing it for sale? Simple. Try to put yourself in buyers’ shoes and allow them as much flexibility with their imagination to envision their own stuff in the house. How do you do that? Easy. Cover the walls with a nice, neutral color and you can’t go wrong. That’s what our resident painter does and by the time he and his team are done, the homes he paints for us just before listing come out looking brand new and completely transformed!

The benefit of using a neutral color is so that the home can appeal to buyers of many different styles and tastes. Light or medium beige will usually work with anything from Victorian décor to post-modern styles or even 80s retro. The point is to make it possible for buyers to see that relatively “blank canvas” and know that they can easily change it to suit their own tastes.

Don’t Skimp Out on Quality – It Shows and It Blows

Another tip he offers is to use a quality paint brand along with a good primer so you can cover up any stubborn scuffmarks that might put off a buyer. Of course, before doing any of the painting be sure to apply some patching spackling material to smooth out any rough surfaces and patch up nail holes, dings or scratches. Sanding surfaces prior to painting is also a good idea for a finished, polished look.
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No matter what market you’re selling in, whether in a seller-centric one or a buyer controlled real estate environment, a clean and fresh home will attract buyers and despite the expense of a few dollars it will work in your favor. Feel free to contact us for more tips on how to prepare your home before listing or let us know of any other real estate concerns you may have. We’d be glad to help!

Don’t Buy That House – It’s a Money Pit!

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HOW EMOTIONAL DECISION MAKING CAN REALLY HURT BUYERS’ and SELLERS’ BOTTOM LINE

Right now we are sitting in the cusp of a very difficult market. You may be wondering how that could be since both buyers and sellers are enjoying certain benefits of the real estate marketplace these days. But the truth is that the balancing act can be a difficult one to manage when it is neither a full-fledged buyers’ market nor sellers’.

One thing to note, however, is that just a year ago our inventory levels were about 50% higher than they are now – leading to a very different outlook these days for everyone involved. With very little inventory, comes increased demand and with increased demand comes the room for appreciation. In fact, for the first time in years we are finally seeing an appreciation on home prices of up to about 11%!

Decisions Made Purely By Emotions Are Counterproductive

But while sitting in the midst of this precarious market where neither side is fully in “control”, it is critical to make smart, savvy decisions that are not persuaded merely by emotions. Sure, you may see your dream home and fall absolutely in love with – but is that all that should go into it before you make the very important decision to buy it? And for sellers, the emotional quotient comes in when you consider how to price your home. There is equal opportunity to botch that up when emotionally charged decisions get the better of market savvy.

Base Real Estate Decisions On Facts and Practical Information
How best to handle it then? Simple. Bring in the facts and use the facts only to determine where to go next. Buyers will need to evaluate everything about the house, the locale, price for value and more. Sellers need to set realistic price goals and work with their Realtor to come to a reasonable number rather than just what “feels right”.

There are several important questions to ask when seeking the perfect home; should I offer more than last year’s asking price? Is a low-ball offer the way to go? How badly do I want this property? Similarly, sellers should be asking things like “Is my price driven by what sold down the street or rather what the market indicates?” or “How motivated am I to sell; enough to offer a low price to generate increased interest?”

The most important thing to remember is not to rush into any decisions – and certainly don’t let your emotions get the better of you. Base everything you do on the facts, consider market statistics, trends and the advice you receive from your real estate agent. Keep an open mind and be receptive.

I invite you meet with me so together we can consider everything there is – and you can make informed decisions about your real estate goals and how to achieve them. Because neither you nor I want you to end up in this situation (get ready for a HUGE laugh...Tom Hanks and Shelley Long in “The Money Pit”).

Market Update and Late Summer/Early Fall Maintenance Checklist

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Denver Real Estate Market Does a 180 From Last Year

It was just a year ago when our market was looking at a lot of available homes, more distressed properties than we would like and a slow moving marketplace overall. But today, the tables have completely turned. In fact, since that time last year the number of homes available on the market has dropped about 50%, setting off a series of events that has changed the face of how we are doing business this year.

Sellers are enjoying more offers, buyers are facing bidding wars for some properties and everyone’s happy with the low cost of borrowing that keeps on keeping on. In fact, even though we are moving toward a seller-controlled market overall, the cost of borrowing is still at an all time low, driving buyers to buy now and therefore contribute to the sharp reduction of inventory. Of course, sellers are happy these days.

Speaking of sellers, in some cases we are seeing homes sold within days, offers made within hours and interest generated before a newly listed property has even had time to cool off. And all this positive activity points to one very positive outcome: prices are starting to escalate. What’s this mean to you? It means this is a great time to buy. It’s also a good time to sell.

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Late Summer/Early Fall Maintenance Checklist

As we transition into the next season and then into winter, it is a good idea to prepare your home for the cooler months. In my flyer that I sent out, several tips are mentioned that will help you with your home maintenance.

Removing Pest Magnets

By removing garden debris like firewood, extra vegetation and standing water you will eliminate or at least significantly reduce the risks of pest infestation. Since pests tend to gravitate to warm, moist and dark areas, the types of debris mentioned here are ideal breeding grounds for pests.

Pampering Lawn And What Not To Do

To foster gorgeous, green lawns that look like manicured gardens without spending the astronomical amounts of money needed to achieve it, cut your grass high and leave clippings in the yard to add further nourishment to the lawn. Avoid using products with nitrogen in less-than-perfectly green lawns as they can encourage weeds. Fertilize your lawn only when the temperatures are moderate and there are not heavy periods of rain or serious drought.

Cleaning Sink Drains

Rather than risk damaging pipes with expensive and harsh chemical drain cleaners, put together a homemade solution of equal parts of salt, baking soda and vinegar. Flush the solution down the drain for effective drain cleaning. If that is not enough, attempt to clean the drain yourself by cleaning out the u-shaped pipe that sits under the sink as well as flushing out the sink’s drain plug.

Clean And Replace Grout And Caulks

Since tile grout can get damaged or weakened with moisture, it’s a good idea to keep these areas clean. If there are loose spots of grout or if kitchens and bathrooms need caulking, repair them as soon as possible.

Furnace Inspections

At least once a year, furnaces plus heating and cooling units should be inspected, serviced and maintained. Call a quality contractor and have them check all lines; make sure the system is running efficiently and effectively. Replace filters and have both inside and outside units cleaned and thoroughly flushed if applicable for your unit type.

Inspection And Maintenance Of Water Heater

Water heaters generally run without much hassle however homeowners should have them checked once each year. In case of a leak, it could lead to a bigger problem. Check all surrounding areas for evidence of moisture, cracks or problems with water lines leading to the water heater.

5 Reasons Homes Don't Sell

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Who does not want to get top dollar for their home?  The truth is that with the countless homes that have been on the market during the past several months – in many areas, just getting an offer is great news.  But regardless of your location, it is important to avoid making mistakes that could cost you the sale of your home.  Here are five things that sellers do wrong (and what you can do right) that end up in an unsold house.

Pricing

You want as much money as you can but that ends up backfiring when homeowners overprice.  The priceshould be set at middle or low end of the range for your home to be able to sell.  It’s important to review area comparable sales to gauge what other homes in the same neighborhood have recently sold for.  Overpricing helps other homes in the neighborhood sell and it also slows down your offers.

Staging and Photographs

Staging has become more popular – arranging furniture and removing personal items from the house.  It allows buyers to look at the home with a blank slate and be able to envision their own lifestyle in the home. Another benefit of this is that the home’s features will be in plain view for buyers rather than being buried beneath mountains of the seller’s stuff.  High quality photographs are another part of effectively selling a home.  Almost all buyers begin their property search on the Internet and photos are pivotal to the process. 

Access to Property

Restricted access to the property will hinder successful sales because buyers will not be able to get in and see the home on their own schedule.  If you have a busy schedule that may seem difficult to work around, meet and discuss alternatives with your Realtor such as installing a lock box on the front door or setting up specific blocks of time each week that allow for some level of predictability without sacrificing accessibility to your home.

Attendance of Seller at Showing

One of the cardinal rules of real estate transactions during showings is that the seller must not be present while the buyer is reviewing the property.  If you happen to be present when a buyer shows up, leave quickly and do not interact with the buyer or their agent.  If that is not possible for some reason, make yourself as scarce as possible by either going to an area of the home that they have already looked at or go outside for a little while. 

Rejecting First Offer

The first offer you get on your property is usually the best offer you will get on your property.  It is important to look at that first offer as your best one and keep in mind that the longer the home remains on the market, the lower the offers are going to get.  Offers come in between 15 to 20 percent lower than the asking price but the home usually sells within about 5 to 10 percent of the asking price.

If you would like us to review your home and provide suggestions on how you can improve your chances for a successful sale, contact us today!