Monday, May 16, 2011
REAL Trends Housing Report - April 2011
The "REAL Treands Housing Market Report - April 2011" has just been released. While the report shows a continued decline in both housing value and closed transactions, one must remember that in April 2010 buyers were rushing to record sales prior to the expiration of the housing tax credit program. Sales in Q1, 2010 were borrowed from the following quarters. It will be interesting to watch the closed sales and price reports for Q2, 2011 as there are no incentives this year to potentially skew the data.
Monday, May 2, 2011
Distinctive Features Can Help You Sell
In today's competitive marketplace, sellers are encouraged to play up the best attributes of their home, also known as the "hot selling points." By using your home's special features to position it as a unique piece of property, you can stand out from the competition in your area and truly shine in the minds of buyers.
Certain features of a home can be capitalized on when officially listing your home on the market, and some of these features may not even be initially desired from buyers. For example, lush or extravagant gardens and backyards may give your property the extra push it needs to sell quickly. If your backyard or garden feels like a sanctuary, some buyers might respond to it. A beautiful landscape or feeling of serenity could really grab a buyer's attention and make your property memorable. Features like these are pleasant surprises during viewings and may be enough to sway buyers into bidding on your home.
Another feature sellers should never underestimate is a spacious and open playroom. For families shopping around, playrooms offer parents peace of mind, knowing that their children will have plenty of room to grow and play. Playrooms also make great storage space for the child's belongings and toys, a great incentive for buyers with little ones.
If your home has an updated or renovated bathroom or kitchen, you definitely want to market those features to buyers. It is no secret that buyers often respond to modern bathrooms and kitchens, but some sellers may even want to go above and beyond the call of duty. Renovating your bathroom with modern features could ensure a quick turnaround and maybe even a turn of profit. Walk-in closets, Jacuzzi™ tubs and large vanities are all hot-ticket features when promoted to the right buyers. Properly promoting these vantage points can make your sales effort largely successful.
Sellers should keep in mind that standing out from the other properties listed in the neighborhood and surrounding towns and cities is of utmost importance throughout the process. "When selling your home in today's market, sellers must play up the home's unique aspects and features in order to pique the interest of buyers," says Bray. "Knowing what you have and how to sell it will be crucial to your selling success in 2011."
For more information on properly positioning your home for sale, please contact Jim Bray at JBray@CutlerHomes.com, 330-491-2700 or Cutler Real Estate.
Certain features of a home can be capitalized on when officially listing your home on the market, and some of these features may not even be initially desired from buyers. For example, lush or extravagant gardens and backyards may give your property the extra push it needs to sell quickly. If your backyard or garden feels like a sanctuary, some buyers might respond to it. A beautiful landscape or feeling of serenity could really grab a buyer's attention and make your property memorable. Features like these are pleasant surprises during viewings and may be enough to sway buyers into bidding on your home.
Another feature sellers should never underestimate is a spacious and open playroom. For families shopping around, playrooms offer parents peace of mind, knowing that their children will have plenty of room to grow and play. Playrooms also make great storage space for the child's belongings and toys, a great incentive for buyers with little ones.
If your home has an updated or renovated bathroom or kitchen, you definitely want to market those features to buyers. It is no secret that buyers often respond to modern bathrooms and kitchens, but some sellers may even want to go above and beyond the call of duty. Renovating your bathroom with modern features could ensure a quick turnaround and maybe even a turn of profit. Walk-in closets, Jacuzzi™ tubs and large vanities are all hot-ticket features when promoted to the right buyers. Properly promoting these vantage points can make your sales effort largely successful.
Sellers should keep in mind that standing out from the other properties listed in the neighborhood and surrounding towns and cities is of utmost importance throughout the process. "When selling your home in today's market, sellers must play up the home's unique aspects and features in order to pique the interest of buyers," says Bray. "Knowing what you have and how to sell it will be crucial to your selling success in 2011."
For more information on properly positioning your home for sale, please contact Jim Bray at JBray@CutlerHomes.com, 330-491-2700 or Cutler Real Estate.
Wednesday, April 27, 2011
Tuesday, April 5, 2011
How to Make the Most of a Buyer's Market
In today’s market, sellers are crossing their fingers hoping for increasing housing values and hungry buyers. With the market still on its way toward recovery, buyers have the luxury of being choosey and have plenty of leverage to work in their favor. By taking your time and leisurely looking at properties, you can ensure that you and your family get the most out of your transaction and buying experience.
Given the recovering market, buyers don’t have to feel pressured to make a decision on the first couple properties they see. By taking one’s time and slowing down the searching process, buyers can fully investigate which properties have been lingering on the market and which sellers might be willing to accept a price reduction.
In addition, buyers may also want to consider the foreclosure market. Foreclosed homes have seen a spike lately, with many sitting empty on the market for extended periods of time. If done right, some buyers may be able to get a fantastic deal on a foreclosed property. However, there are many iffy websites and agencies that claim to be specialists in foreclosures. To tap into this sector of real estate, make sure to speak with a qualified real estate agent who will represent only your interests throughout the transaction, and not the interests of the bank trying to sell them..
As mentioned, buyers today have plenty of leverage on their side. If you decide to build a new home, don’t be shy about asking for free upgrades, which may be of very little cost to the builder. For existing homes, negotiate for free repairs on things that may be pricey fixes later down the road. Buyers may also want to negotiate the closing costs or closing date. If a seller is really wants to sell, they may be willing to pay the closing costs partially or in full, and may allocate a few months for you to get your affairs in order for the move.
A completely different bidding strategy may also be the key to success. Usually, first offers are slightly below the seller’s asking price; in a market such as this, you can test an even lower one—but be prepared for rejection. By coming up with an acceptable, albeit, lowered bid, you may be able to save thousands of dollars on the purchase price of the home throughout the course of the negotiation.
Given the recovering market, buyers don’t have to feel pressured to make a decision on the first couple properties they see. By taking one’s time and slowing down the searching process, buyers can fully investigate which properties have been lingering on the market and which sellers might be willing to accept a price reduction.
In addition, buyers may also want to consider the foreclosure market. Foreclosed homes have seen a spike lately, with many sitting empty on the market for extended periods of time. If done right, some buyers may be able to get a fantastic deal on a foreclosed property. However, there are many iffy websites and agencies that claim to be specialists in foreclosures. To tap into this sector of real estate, make sure to speak with a qualified real estate agent who will represent only your interests throughout the transaction, and not the interests of the bank trying to sell them..
As mentioned, buyers today have plenty of leverage on their side. If you decide to build a new home, don’t be shy about asking for free upgrades, which may be of very little cost to the builder. For existing homes, negotiate for free repairs on things that may be pricey fixes later down the road. Buyers may also want to negotiate the closing costs or closing date. If a seller is really wants to sell, they may be willing to pay the closing costs partially or in full, and may allocate a few months for you to get your affairs in order for the move.
A completely different bidding strategy may also be the key to success. Usually, first offers are slightly below the seller’s asking price; in a market such as this, you can test an even lower one—but be prepared for rejection. By coming up with an acceptable, albeit, lowered bid, you may be able to save thousands of dollars on the purchase price of the home throughout the course of the negotiation.
Tuesday, March 29, 2011
Tuesday, March 22, 2011
Monday, March 21, 2011
Tips to Attract Buyers When Selling Your Home
For homeowners expecting to sell their home in the next few years, it's never too early to think about fixing up or modernizing your home. If selling is your end goal, there are many updates you can add to ensure that your home stands out from the competition in the marketplace. If you're already thinking in advance, consider the following improvements and staging tips to not only add value to your property, but to attract buyers as well.
Don't neglect the power of a nice entryway. When you end up showing your home to potential buyers, a fresh coat of paint and an enticing, warm feel goes a long way. Many buyers find that they don't like entering the front door and stepping right into the living room. With clever placement of furniture, a chest of drawers or a unique table, you can create the feel of a separate entranceway with a little creativity.
Hardwood floors are also a hot ticket for many buyers. Most Realtors agree that hardwood floors go the extra step towards enticing buyers to bid on your home. The longevity is incomparable to other flooring and you never have to worry about hardwood going out of style. Synthetic wood flooring can be used for a more affordable price, but be sure to avoid laminate flooring.
Nice bathrooms give your home a greater appeal when buyers take a tour. Whirlpool baths, marble counters and steam showers are all highly attractive elements to have in a master bathroom. If these are too luxurious for your budget, work on brightening or modernizing the older parts of your existing bathroom. Some owners may choose to replace a bathroom's lighting or replace various fixtures in the room in order to brighten it up. Anything you can do to make the room pop will benefit all of your future efforts.
Don't forget about lighting in other rooms, too. It's an often overlooked feature that can be quite tempting to buyers. Regular floor lamps limit the amount of light a room can get. If the home doesn’t receive lots of natural light, consider adding recessed lighting or sconces to brighten up the space. Buyers love to see rooms that are cheerful and easy to light up. Always consider adding a dimming feature. It gives the homeowner many different lighting options and significantly adds to the appeal.
By making adjustments to your home in small increments, you will increase your property's selling power before unleashing it to the market. With these updates and more, your home will have the cutting-edge advantages it needs to sell as quickly as possible for the value it deserves.
For more information about updating your home or to learn more about what today's buyers are looking for, please contact any of our Cutler Real Estate Professionals.
Don't neglect the power of a nice entryway. When you end up showing your home to potential buyers, a fresh coat of paint and an enticing, warm feel goes a long way. Many buyers find that they don't like entering the front door and stepping right into the living room. With clever placement of furniture, a chest of drawers or a unique table, you can create the feel of a separate entranceway with a little creativity.
Hardwood floors are also a hot ticket for many buyers. Most Realtors agree that hardwood floors go the extra step towards enticing buyers to bid on your home. The longevity is incomparable to other flooring and you never have to worry about hardwood going out of style. Synthetic wood flooring can be used for a more affordable price, but be sure to avoid laminate flooring.
Nice bathrooms give your home a greater appeal when buyers take a tour. Whirlpool baths, marble counters and steam showers are all highly attractive elements to have in a master bathroom. If these are too luxurious for your budget, work on brightening or modernizing the older parts of your existing bathroom. Some owners may choose to replace a bathroom's lighting or replace various fixtures in the room in order to brighten it up. Anything you can do to make the room pop will benefit all of your future efforts.
Don't forget about lighting in other rooms, too. It's an often overlooked feature that can be quite tempting to buyers. Regular floor lamps limit the amount of light a room can get. If the home doesn’t receive lots of natural light, consider adding recessed lighting or sconces to brighten up the space. Buyers love to see rooms that are cheerful and easy to light up. Always consider adding a dimming feature. It gives the homeowner many different lighting options and significantly adds to the appeal.
By making adjustments to your home in small increments, you will increase your property's selling power before unleashing it to the market. With these updates and more, your home will have the cutting-edge advantages it needs to sell as quickly as possible for the value it deserves.
For more information about updating your home or to learn more about what today's buyers are looking for, please contact any of our Cutler Real Estate Professionals.
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