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.
Monday, February 14, 2011
Tuesday, February 8, 2011
Keeping Your Home Safe from Burglary
In the United States, a home is burglarized once every 12 seconds. For those affected, it's a very alarming and discomforting feeling knowing a stranger has violated your privacy and invaded your home. By taking some easy preventative measures, homeowners can do their best to make sure their home isn't vandalized, burglarized or entered without their consent.
By installing a good security system, you can protect your home from most robberies. Most burglaries are committed by amateur or semi-amateur burglars who don't know how to bypass a security system. By installing a reliable system, you can protect your home and family from a majority of invasions.
Joining a neighborhood watch is also a great idea for those who want extra protection. Getting to know your neighbors and being able to rely on them when you're out of town can be extremely effective. If your local neighborhood doesn't have an existing neighborhood watch program, consider creating one yourself. There's power in numbers and by supporting each other, you can keep the entire neighborhood safe from predators.
Installing a timer for your lights and TVs is also highly recommended. With lights that turn on when it gets dark outside, you provide the illusion that someone is always home. It's a simple and inexpensive addition you can make to offer further protection. While you're at it, add a pole in the track of any sliding door you may have in your home. Glass door locks can be finicky and unreliable -- a pole adds further protection in the case of a lock failure.
Of course, you can't prevent every incident, but a little bit of effort goes a long way when you want to protect your home from intruders, burglars, and vandals. By thinking outside the box and appropriately securing your home, you will be on your way to keeping your family and belongings safe from attack.
For more information on how you can keep your home safe, please contact Jim Bray at JBray@CutlerHomes.com, 330-491-2700 or Cutler Real Estate.
By installing a good security system, you can protect your home from most robberies. Most burglaries are committed by amateur or semi-amateur burglars who don't know how to bypass a security system. By installing a reliable system, you can protect your home and family from a majority of invasions.
Joining a neighborhood watch is also a great idea for those who want extra protection. Getting to know your neighbors and being able to rely on them when you're out of town can be extremely effective. If your local neighborhood doesn't have an existing neighborhood watch program, consider creating one yourself. There's power in numbers and by supporting each other, you can keep the entire neighborhood safe from predators.
Installing a timer for your lights and TVs is also highly recommended. With lights that turn on when it gets dark outside, you provide the illusion that someone is always home. It's a simple and inexpensive addition you can make to offer further protection. While you're at it, add a pole in the track of any sliding door you may have in your home. Glass door locks can be finicky and unreliable -- a pole adds further protection in the case of a lock failure.
Of course, you can't prevent every incident, but a little bit of effort goes a long way when you want to protect your home from intruders, burglars, and vandals. By thinking outside the box and appropriately securing your home, you will be on your way to keeping your family and belongings safe from attack.
For more information on how you can keep your home safe, please contact Jim Bray at JBray@CutlerHomes.com, 330-491-2700 or Cutler Real Estate.
Friday, February 4, 2011
How to Save Money on Your Homeowners' Insurance
In today's economy, homeowners are looking to save money wherever they can ... even on something as important as their homeowners' insurance. But buyers beware, lowering your coverage and/or raising your deductibles could result in higher bills if you become the victim of weather-related damage. These days, it's understandable that many homeowners would want to shift to higher deductibles and want to pay less for their homeowners' insurance. However, if disaster strikes, they could very well be in a worse position than if they'd been paying a higher premium all along. To prepare before a situation occurs, homeowners should really look at their options - from price to coverage - and see what is available to them.
We recommend looking into some additional money-saving ideas from the Federal Citizen Information Center (www.consumeraction.gov):
• Ask your insurance agent about discounts. You may be able to get a lower premium if your home has safety features, such as alarm systems, storm shutters or fire-retardant roofing material. Long-term customers and those over age 55 may also be offered discounts.
• Insure your house, not the land under it. After all, your land will still be there even if your home is damaged. If you don't subtract the value of the land when deciding how much homeowner's insurance to buy, you will pay more than you should.
• Don't wait until you have a loss to find out if you have the right type and amount of insurance. Discuss with your insurance agent exactly what types of damage are covered, including natural "acts of God." Many homeowners are caught off-guard by this loophole.
• Purchase enough coverage to replace what is insured. "Replacement" coverage gives you the money to rebuild your home and replace its contents. An "Actual Cash Value" policy is cheaper but pays only what your property is worth at the time of loss - your cost, minus depreciation for age and wear.
• Consider any special coverage you may need for valuable and/or unique items, such as computers, cameras, jewelry, art, antiques, musical instruments, stamp collections, etc.
• Remember that flood damage is not covered by a standard homeowners' policy. If you live in an area prone to flooding, take advantage of the National Flood Insurance Program.
Regardless of what coverage you decide on, be sure it's what's right for you and your family. Remember to always work with an insurance agent who is experienced and trustworthy - he or she will be able to help you make the right decision.
For more information, please contact Justin Truex at JTruex@CutlerHomes.com, 330-705-1976 or the Cutler Real Estate office of Maconachy-Stradley Insurance Agency, Inc.
We recommend looking into some additional money-saving ideas from the Federal Citizen Information Center (www.consumeraction.gov):
• Ask your insurance agent about discounts. You may be able to get a lower premium if your home has safety features, such as alarm systems, storm shutters or fire-retardant roofing material. Long-term customers and those over age 55 may also be offered discounts.
• Insure your house, not the land under it. After all, your land will still be there even if your home is damaged. If you don't subtract the value of the land when deciding how much homeowner's insurance to buy, you will pay more than you should.
• Don't wait until you have a loss to find out if you have the right type and amount of insurance. Discuss with your insurance agent exactly what types of damage are covered, including natural "acts of God." Many homeowners are caught off-guard by this loophole.
• Purchase enough coverage to replace what is insured. "Replacement" coverage gives you the money to rebuild your home and replace its contents. An "Actual Cash Value" policy is cheaper but pays only what your property is worth at the time of loss - your cost, minus depreciation for age and wear.
• Consider any special coverage you may need for valuable and/or unique items, such as computers, cameras, jewelry, art, antiques, musical instruments, stamp collections, etc.
• Remember that flood damage is not covered by a standard homeowners' policy. If you live in an area prone to flooding, take advantage of the National Flood Insurance Program.
Regardless of what coverage you decide on, be sure it's what's right for you and your family. Remember to always work with an insurance agent who is experienced and trustworthy - he or she will be able to help you make the right decision.
For more information, please contact Justin Truex at JTruex@CutlerHomes.com, 330-705-1976 or the Cutler Real Estate office of Maconachy-Stradley Insurance Agency, Inc.
Tuesday, January 25, 2011
How to Price Your Home to Sell
Naturally, like most homeowners, you have a strong emotional connection to your home and, understandably, feel it deserves top dollar when placed on the market. After all, no one knows your home better than you, including all the investments you've made in it over the years. But even though all sellers want to get the most money for their homes, especially in today's challenging economic times, decisions made regarding the listing price cannot be made in haste advises Cutler Real Estate.
"Listing your home at a price that is too high can cause it to languish on the market," explains Jim Bray, Cutler President. "This can result in the home selling at an even lower price than would have been realized had it been priced properly from the beginning."
To avoid this scenario and generate optimal profits from the sale of your home, we suggest taking into consideration all of the following factors in order to establish a fair, competitive and marketable sale price:
• Square footage - Total square footage is an important consideration when establishing a home's listing price, but this is usually just a starting point for buyers. Buyers will look at square footage to narrow their selections, but will make an actual purchase decision based on many other factors.
• Location within the community - Quiet cul-de sacs, golf or water frontage, lots that offer privacy, etc. are value-adds that can justify a higher sale price over other homes in a community ... or be leveraged as an advantage against competing listings.
• Views ... or lack thereof - Whether it is the ocean, a downtown skyline, the mountains, water or some other desirable landscape, buyers are willing to pay a premium for views and a home should be priced accordingly.
• Upgrades and features - For a home to sell quickly at the desired price, it must be "finished" with as many structural and interior design upgrades as possible. Any functional or beautification enhancement to a home are key considerations in establishing a home's true value and strategic sale price.
• Community amenities - Guard-gated communities or those with amenities such as a clubhouse, swimming pool or fitness center are elements that raise a home's price per square foot. When pricing a home without these benefits, know whether you are competing against other homes that do offer such value-adds so that you can price your home as aggressively and competitively as possible.
• Comparable sales - Don't price your home based on price per square footage of other home sales in your community six or more months ago, as these don't offer a realistic portrayal of current market conditions. We advise sellers to focus on prices of active listings to hone a competitive pricing strategy.
• Professional appraisal – If you need to sell your home quickly, we suggest listing it at or below the appraised value as buyers are educated, are shopping deals, and will recognize your fair price and be more apt to pay it with less haggling.
• Current mortgage conditions - Lenders now require higher credit scores and higher down payments, which can cash-strap buyers holding out for the best deal possible. Savvy sellers will understand the mortgage industry's impact on the buyer and will price accordingly.
"Anyone considering selling their home should work with a professional real estate agent who can guide them through all of the above steps," says Bray. "A seasoned agent will be armed with current, local statistics and know how to sell your home at the best possible price."
"Listing your home at a price that is too high can cause it to languish on the market," explains Jim Bray, Cutler President. "This can result in the home selling at an even lower price than would have been realized had it been priced properly from the beginning."
To avoid this scenario and generate optimal profits from the sale of your home, we suggest taking into consideration all of the following factors in order to establish a fair, competitive and marketable sale price:
• Square footage - Total square footage is an important consideration when establishing a home's listing price, but this is usually just a starting point for buyers. Buyers will look at square footage to narrow their selections, but will make an actual purchase decision based on many other factors.
• Location within the community - Quiet cul-de sacs, golf or water frontage, lots that offer privacy, etc. are value-adds that can justify a higher sale price over other homes in a community ... or be leveraged as an advantage against competing listings.
• Views ... or lack thereof - Whether it is the ocean, a downtown skyline, the mountains, water or some other desirable landscape, buyers are willing to pay a premium for views and a home should be priced accordingly.
• Upgrades and features - For a home to sell quickly at the desired price, it must be "finished" with as many structural and interior design upgrades as possible. Any functional or beautification enhancement to a home are key considerations in establishing a home's true value and strategic sale price.
• Community amenities - Guard-gated communities or those with amenities such as a clubhouse, swimming pool or fitness center are elements that raise a home's price per square foot. When pricing a home without these benefits, know whether you are competing against other homes that do offer such value-adds so that you can price your home as aggressively and competitively as possible.
• Comparable sales - Don't price your home based on price per square footage of other home sales in your community six or more months ago, as these don't offer a realistic portrayal of current market conditions. We advise sellers to focus on prices of active listings to hone a competitive pricing strategy.
• Professional appraisal – If you need to sell your home quickly, we suggest listing it at or below the appraised value as buyers are educated, are shopping deals, and will recognize your fair price and be more apt to pay it with less haggling.
• Current mortgage conditions - Lenders now require higher credit scores and higher down payments, which can cash-strap buyers holding out for the best deal possible. Savvy sellers will understand the mortgage industry's impact on the buyer and will price accordingly.
"Anyone considering selling their home should work with a professional real estate agent who can guide them through all of the above steps," says Bray. "A seasoned agent will be armed with current, local statistics and know how to sell your home at the best possible price."
Tuesday, January 18, 2011
Monday, January 3, 2011
Forget the Boom
As we start 2011 we would all be best served if we would clear or minds of the past and focus on what is and what is likely to be. This is best said by Matthew Ferrara in his recent blog post. http://www.matthewferrara.com/rssfeed/forget_the_boom/ .
Happy New Year to all. May 2011 be the bring good health, happiness and a solid rebound in the housing market.
Happy New Year to all. May 2011 be the bring good health, happiness and a solid rebound in the housing market.
Subscribe to:
Posts (Atom)