Selling Your Home

5 Easy Improvements To Add Value Before Selling

When selling a home, the goal is to make it look ready to move into. A place that prospective buyers can imagine themselves living their day to day lives. This is the real key, painting a pretty picture for the buyer of what their life could be like if they were in the home. 

Although there is no specific calculation that can spit out the answer, dressing things up, presenting the best version of a home, and getting people to fall-in-love will create competition and drive up the price. Here's some tips and advice on preparing a home for sale to maximize return and get the highest possible price.

Paint

If a home hasn't been painted in a while, or otherwise looks dull and beat up, paint will make it shine better than most other things you can do. It's like washing a car before you sell it. You could only do this one thing...

The affect of rising interest rates on our market

Interest rates have risen by almost 2% since the start of the year. From 3-5%. As of now, I havent seen any affect on the strength of the market. It has not cooled at all. Many will speculate that with rising rates, people can afford less home, thus bringing down the overall value of homes. While that sounds like a logical result, I only see that being the case of there is a big shift in the market. If demand were to decrease, or rates rise much higher, these are things that may cause a drop in home values. Not just the single factor of rising rates. 

For those buyers shopping for homes at the top of their budget, for the max they can afford, they must now look for homes at a lower price point. They simply cannot afford the same house. If it was $500k before, their max might now be $450k. The same is true for any price tier. Everyone has trickled down to the tier below. These buyers could become frustrated and decide not to buy at all. Sure. That may affect the market at some point....

Buy, or Sell, First?

When considering to sell our home and buy another, a common question that we all encounter is "Do I need to buy, or sell ,first?".

In the past we've been able to make an offer to buy, with the contingency that our current home sells first. In this market, that wont fly. With multiple offers on a home, your offer needs to stand out and be competitive. This means, as few contingencies as possible. Let's look at 3 options to get around this "standoff".

Option 1 - Lease back

You will put your home up for sale and remain in the home even after it has sold to the new owner. You'll remain in your home while shopping for the next. Now you have the money made from the sale to use as a downpayment on your next home.

Option 2 - Recast

Use a standard conventional loan to purchase your next home (minimum 5% down needed). Once your current home sells,...

Why You Should Consider Selling in the Winter

The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.

Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter the time of year. Keeping your house on the market in the winter might bring the right buyer to your door. Real estate agents also tend to be less busy during these months and commit more time to getting your home sold.

Studies have shown winter...