Can you tell me why we can't sell our home for $$$????
Yes I will be happy to tell you why your home is not selling, and why the price you have in your head that you feel your home is worth is not realistic....BUT SELLERS DO NOT WANT TO HEAR THIS!
It doesn't matter if it is Builders or Residential Sellers...the fact is that they are still not understanding that the economic downturn has hit their homes as well as their bottom line. Especially buyers that purchased homes during the HOUSING BOOM and now are in the situation of trying to swallow that they will NEVER SELL THEIR HOME FOR WHAT THEY PAID FOR IT.
The market is a system of BLACK AND WHITE and now RED! We have MAD sellers with RED bottom lines and they are not willing to face this truth...
So as a Realtor it is my job to do accurate market research and inform them of what their homes are worth. There is NO SUGAR COATING this fact...the market is what it is and your home will not sell for the pie in the sky number in your head.
We sit down with our sellers and explain what their home is worth and the most likely sales price and you can literally see their heads spin.
I try and inform them up front that if they don't HAVE to sell right now it may be the best idea for them to refinance to take advantage of the historically low interest rates and save some money. Do those repairs they have been holding off on, make their home more energy efficient to take advantage of the tax incentives of doing so...etc. If they HAVE to sell then I tell them to realistically look at the data and lets do the numbers so they know where they will be at closing if we list at this price...that is when it hits them of where they actually are and many are upside down on their homes.
It is not a fun thing to be a listing agent right now. Your sellers are likely not going to be HAPPY or JUMPING FOR JOY...but the up side is they are getting great deals on their next home even if it is out of state. So the money they lost on one can be recovered somewhat in the next.
Also, I like to remind them that selling your home now is similar to the therory of selling stocks...."You don't loose money unless you sell low" and that is where deciding if they want to wait and see if a partial recovery comes before selling could be benificial to them.
Listing homes at prices above where the market tells us it needs to be...well it is futal. Some agents are so hungry for listings that they will take whatever you want to list for and move on. Your home will sit and stale on the market and not sell, you may get showings but no offers will come in. Eventually the sellers will get upset that it hasn't sold and then drop you as their agent and move on to yet another REALTOR that tells them the same thing you need to list for THIS and likely they will reduce it some but by how much will be up to the seller....if they have been magically waken up from their fairy tale dream from the days when homes sold for much more, anyone could get a loan and Sellers made mega bucks on their homes....
BOTTOM LINE- Listen to your realtor when pricing your home...don't waste valuable time on the market with a home that is overpriced. You are only helping to sell the homes in your area that are properly priced NOT selling yours.
Be realistic and really understand that if you don't have to sell right now DON'T.
Its a SUPER time to refinance and a Good Realtor will assist you in finding a mortgage broker or mortgage company that can assist you with that.
It's also good to get all repairs done on your home and spruce up the exterior and interior BEFORE you list...your home is being interviewed for owners...put your best foot forward and don't neglect to make a GOOD FIRST IMPRESSION.
FORECLOSURE OR SHORT SALE WHICH IS BEST FOR YOU or DO YOU HAVE A CHOICE????
My job is normally full of happy clients that are looking to sell their current home and move to a better location, or build their dream home...you get the idea. But lately the market is seeing more and more people that are needing to sell their homes because they just can't afford the payments anymore. Either they have lost their jobs, had a drastic reduction in their income, or realized that they are upside down in their mortgages.
If this is a reality for you, first off please know you ARE NOT ALONE. The best attitude you can have right now is looking at your situation head on and not trying to make it "better" than it is. I have seen people just try to go on an hope it goes away. Let me tell you now it IS NOT GOING TO GO AWAY. You do not want to have the day come when the Sheriff's department is knocking at your door and making you leave your home. Take some professional advice and do the right thing.
First of all many people are not aware of what a short sale is. Let me brief you on what a Short Sale is. When you owe say $295,000 on your home and you have a Realtor run a market analyisis of your property and they show your home in the current market is worth no more than $195.000 well that is an example of where a short sale may be perfect for you. The process continues to the offer, you get an offer for your home and then your agent will submit it to the bank. Clearly what they will pay for the home is less than what you owe on your mortgage (you are SHORT the amount you owe). The bank then will be able to accept or decline the offer depending on many variables, and the best of course is when the accept the offer...then you move on to closing. You will not make money on the home, you are loosing money as is the bank. That is the basic idea of a short sale.
Contact your mortgage company and let them know you are hiring an agent to help you sell your property. Let them know it is worth less than what you currently owe on the property. Then contact a professional QUALIFIED Realtor that is educated on Short Sales and make an appointment with them. They will be able to handle the rest for you. They WORK FOR YOU! We do all the negotiations with not only the Buyers but also with the bank on your behalf. This way when an offer comes in we step in and handle the paperwork (and let me just tell you now it is a substantial amount of paperwork), the research to proove the market value, all the back and forth. Also, your agent should let you know ASAP that a "short sale" is not indicative of the length of time it will take to close ...it is likely to take up to 4 months or more to get it to closing. Not only do you have to sign off on the deal but then the bank has to sign off on it. Then you have appraisal issues, inspections...etc. You get the idea now...you NEED A REALTOR to help you with this process.
What if you are not qualified for a SHORT SALE...and you can't afford your home anymore? Then it looks like foreclosure is your next option. Again, call your Realtor and set up an appointment just to review your options. They can assist you an make sure that you don't have any other choices as far as what you could do before resorting to FORECLOSURE. You will likely get a notice in the mail when you are in arrears and they will proceed to foreclosure. Try to contact and stay in contact with your mortage company. IMMEDIATELY when the realization comes that you will not be able to make your mortgage note. Ask yourself, is this temporary...long term? Can you borrow the money to get yourself back on your feet and in the black with your mortgage company or is there nothing you can do. Can you possibly stop paying on credit cards to get enough money together to pay your mortgage. Yes I did just say that...default on a credit card is bad on your credit but not as bad as a FORECLOSURE.
Final words, don't wait until it is too late to help yourself...a home is where you and your family are not just one particular house. Getting professional advice immediately will enable you to have the best possible outcome to your situation. Use this as a teaching tool for your children, let them know that life will sometimes throw them situations that are beyond your control like the loss of a job, and you can either let it control you or you can control it.
Denial is not something that is going to help you, being realistic about your finances and being honest with your Realtor will help to see you through this situation. Remember the old saying "This too shall Pass" and it will, it will seem like the end of the world but it is not. Handling the situation and hiring a Realtor and other professionals will make this process as easy as possible all while giving you and your family the best outcome!
Good LUCK and if you need help or would like to schedule a free appointment to discuss your current situation please don't hesistate to contact me Kimberly McCampbell, Realtor CMS PS Real Living Houston Home Sales"THE MCCAMPBELL TEAM" MULTI MILLION DOLLAR PRODUCER FOR 2010
Buying a home is a huge step and one many rush into without carefully considering the process. First of all LOCATION- we can't say it enough and as a Realtor it is our Mantra. You can't take back what you have purchased and are stuck with it once you have bought a home so carefully consider the location. Not just the neighborhood either. Here in my hometown area we have many road projects scheduled to go through for instance. You may not realize it but sometimes that "great deal" may not be so great if the future development of the neighborhood will be affected by a road or tollway going through it. Although these things are suppose to be disclosed if you arent working with a Realtor you may not be fully aware of how these types of issues will affect your market value or quality of life...like waking up to fourteen wheelers honking as your alarm at 5 am in the morning. This is just one of many scenarios that can occur "AFTER the Sale". So BUYER BEWARE.
Secondly, you may not think of how it will be when you decide to sell your home...that is right you need to consider resale when you buy a home. Is the location or home something that only you like or that many people will like. Is it near a park, a good school system even if you don't have children your future buyers may have them one day.
Also, make sure you vist the neighborhood different times of the day when neighbors are actually home. Are there lots of cars parked in the street? How is the traffic on the street? Does your future neighbor have large dogs your not aware of? Do you like what the neighborhood looks like as a whole.
Don't forget to walk around and talk to the neighbors...Thats right get out and introduce yourself as a hopeful future resident and see what they feel about their neighborhood. Do they like the HOA? Do they like the builders? Do they like the schools? Are there things they wished they had known before they moved in?
LASTLY and most importantly remember that you will be paying annual property taxes on the property no matter if you pay cash or finance the home. These rates are important to know and also to see if they are going up annually or if they are fairly stable. When you buy a home you are responsible to pay the taxes from the date you own it prorated till the next year. Also don't forget to file for HOMESTEAD EXEMPTION the next January. This will save you thousands of dollars. But bottom line is get all the facts of the home and don't have "rose colored glasses" on when you see the dream home...pay full attention to the WHOLE PROCESS not just the lovely kitchen and great backyard!
These questions are overlooked alot and can be very valuable to you when you are choosing on where to live. It is somewhere you want to make sure you and your family or future family will feel safe and most of all at "HOME".
Having a Buyers Agent Realtor represent you will help to insure that you get the most accurate details of a home and community before you buy. Our job is to protect your interest and pin point areas that you may overlook. We do the homework for you, and make sure that you fully understand the whole process from making an offer to signing the closing papers and all the work in between. Our job is to make the process easier for you. And in Texas Buyers Agents fees are paid by the seller so you are out no money for our professional services. You can't get a better deal than that!
If you are looking for a Realtor please let me know if I can assist you I cover the entire Houston and Surrounding areas both Montgomery and Harris County!
My Home is Listed….Why hasn’t it SOLD?
I get asked this question all the time even from people that are listed with someone else. In my market the Houston Area it is a complex question that takes much research to accurately answer. But here are some things to ask yourself if you too are pondering this question no matter what market you are in.
#1- Ok so you obviously have a REALTOR right? If you answer NO to this question, then that is your first problem. In a Buyers Market which 90% of the country is in right now, trying to save money and list your home alone is not only a risky proposition but likely one that will ensure your home doesn’t sell for as much as you should get for it. If you have no one guiding you on where the MARKET shows your home should be listed, then you are likely OVER PRICED and all that money you think you are saving is going down the tubes because you are wasting good time by over listing your home. Buyers have many choices in today’s market and that means they can be picky not only with pricing but with what your home has to offer them. If it doesn’t fit the bill then they can move on to an unlimited number of homes to see until they find exactly what they want. A Realtor will work to make sure you are up to date on the market, your homes actual value and will be able to properly market you listing to buyers that are qualified to purchase your home.
#2 You think your home looks GREAT but you are getting negative feedback from showings….are you LISTENING?
This is a key problem and one that is easily solved. First, have your realtor set up a walk through detailing items that were sited in your showing reports from agents that have toured your home. Seriously consider if it is something that could easily be repaired and rectified and which items will likely make you the most money on your investment. Whether replacing the carpet for say $3000 will be able to bring a buyer at the price you want to sell your home and calculate the difference in leaving it as is… you will see it is worth replacing 9 times out of 10. Or even something as easy as hiring a professional stager…I offer this service to many of my high end clients and will consider it for some of my clients that are living in the home that is for sale. For under $300 (average) you will be SHOCKED and AMAZED at how good your home can look when it is staged using your items…that is right not replacing but likely packing up much of what you have in your home and preparing your home to be shown to buyers. This service is so important and a Professional Realtor will know when it is needed.
Is your home clean??? This one comes up a lot and is also very important to listen to, PLEASE make sure at the very least that you have all beds made, junk picked up and dishes out of the sink. Prepare your home for guest daily, bathrooms should be clean and most importantly the YARD needs to be show ready. Nothing screams distressed property like an unkempt yard full of weeds or burnt grass. Seriously, your REALTOR will be able to give you a list of things that you should do prior to listing.
#3 Photos…exactly what are they telling your Buyers?
So your home looked great the day photos were taken and those are the ones on MLS. Well have you glanced at them lately? If your agent took quick photos the day you signed the listing agreement and the quality looks poor…well BINGO if they look poor to you why on EARTH would you think a BUYER would think otherwise. I offer my client professional photography and Virtual Tours with every listing. This service is instrumental in selling my listings. First impressions are lasting impressions and likely the first thing your buyers are gonna see are the photos on MLS. So make sure they look good and show your home in its best light possible.
#4 Your REALTOR
I will say it again…work with your REALTOR…let them know when you are concerned. They can pull up stats that will show you what the market is doing on a given day and time and give you valuable information that will show you items like: Current homes on the Market, Homes that have sold within the last 30 days, Open House stats. The list is endless all of this info can guide you in what to do next. Your Realtor and you are A TEAM. They need you telling your friends and neighbors and acquaintances that your home is for sale and pass out your Realtors cards so they can give the info to people they may know that are looking for a home. Your Realtor should be marketing your home online and in print, sending out info to agents in the area where your home is etc. This will help to get attention to your home in a market that is overloaded with great deals and MANY homes. Lastly please communicate with your agent so they can assist you. They will not know you are concerned unless you talk to them and I can promise you they want to sell your home as fast as you do and for as much as they can get for you!
Finally, be patient: this market is fickle and when your home is HOT and your getting massive showings you should have an offer…if you don’t that is a warning sign that your price is too high or something needs to be upgraded in your home to make it show better. I run market analysis monthly for my listings right now because the market is changing so much. This helps my clients understand why their home may not be showing as much as they would like, and we work together to come up with a plan to make the home more attractive in to the current buyers.
STAGING YOUR HOME THE DO'S and DON'TS
When you decide that the time is right for you to sell your home PLEASE do your self a favor and right then realize that your "relationship" with the place you live has gone from a HOME to a HOUSE and the EMOTION needs to go OUT THE WINDOW!
That is right....you now have a HOUSE to sell not a HOME, and you need to have some professional opinions made on what should stay and what should go. We all know how it felt when we first walked into the place we now call home...it was great we could easily see ourselves already in the space RIGHT? Well that is how you want the new BUYERS to feel when they walk into your house. They need to see themselves NOT you! So my first professional suggestions is to REMOVE ALL PERSONAL ITEMS. By personal I mean photos, and clutter that mean something special to you but to anyone else is just plain distracting. So the first word to remember when starting to get ready to sell is DE-PERSONALIZE. All of the things that make your home special need to go with you when you move so start packing up those items, all of the pictures of the kids that line the walls of your home and replace them with GENERIC nice decorative items that are gender neutral and style neutral. By style neutral I mean just that....South Western, COUNTRY, Frilly Lace Curtains...you get it right? I mean really not everyone likes those styles and you WANT to sell your home. That means you need to appeal to the broadest spectrum of buyers possible.
FACT MOST HOME BUYERS DECIDE TO BUY WITHIN THE FIRST 2 MINUTES...YEP!
So you need to make that first impression count. That is why Realtors like myself try to make sellers understand how important curb appeal is and the all important front door and entry of the home. If it Smells when you walk in that is the memory the buyers will have when they think of your house. If the front door has cobwebs or a lock that won't open...BAD FIRST IMPRESSION. The all important photos....another first impression. Where are you right now? On the computer looking on HAR at homes and advice...so are your buyers. They will research homes online BEFORE they go see them and that means the photo gallery online is a make it or break it moment. If the buyer doesn't like the photos then you can bet unless your home is a steal that they will not even waste their time looking at it. So staging your home before you get photos done is also a fantastic idea. That way you are putting your homes best foot forward to the buyers that are seeing it for the first time. Ask yourself a few questions, What was the best part of your home that sold you....the spacious living room that is now cluttered with toys and furniture that you can't see the spaciousness???? The masterbath that boast a beautiful walk in shower and seat, that is now covered with limescale and mold and is the new home to a million beauty supplies....???? REALLY??? Make the small effort to do #2 on my list NOW.....DE-CLUTTER! It is easy and is the most affordable way to get your home ready to show to buyers. Get boxes now and start with pulling out the trash and TRASH IT, then make a pile to giveaway, a pile to sell, a pile to keep and start boxing. Once you let go of the stuff that we all collect and Don't need you will have a much easier time setting up the home to show. Take a day to go walk through some Model Homes for some great ideas. Check on a POD so you can store what you want to keep and eventually move to your new home so that your current HOUSE can be SOLD. Consider hiring a professional stager, that can play up your homes best features and use what you have and add items you need for your HOUSE to show the best. This is money well spent when you calculate the loss of time and money listing a home that isn't ready to sell and that sits on the market FOR MONTHS. You can do this. Your home will be less stressful to live in, easier to get ready to show and will sell faster if your MINIMALIZE your home. It is really that simple. And those items that you know need to be fixed, (the squeaky door, the lock you have to turn just right to open, the sliding door that always gets stuck...etc) this is the time to get those little items fixed now. Deep clean your home, dust and clean AGAIN, and air out your house....these are very inexpensive things you can do TODAY to make your home sell Tomorrow!
So good luck my future sellers and may you get more money for your home faster by doing these simple things PRIOR to listing your home. And as always if you need a professional - honest- dependable-get it done REALTOR with a proven track record of Customer Satisfaction then by all means PLEASE call ME! I have a TEAM of professionals from Contractors, to Home Cleaners that can make staging and selling your home a snap while getting more for your home than letting it stay as is. Leave the AS IS sales to the foreclosures and get the most for your home NOW!
Kimberly McCampbell, REALTOR
Corporate Mobility Specialist and Premier Service Professional with GMAC HOUSTON HOME SALES REALTY.....soon to be Real Living because Real Estate is changing and SO ARE WE!
Realtors BEWARE...This happened to me YESTERDAY Don't let it happen to YOU!
I was checking on my listing as I do several times a week, as it is a vacant home and always check for lights being left on, doors locked etc. I pulled into the driveway, and proceeded to the front door...first thing I noticed the blinds were all shut, which I always leave open in case of drivebys that want to see inside. I get to the front door and low and behold the SUPRA BOX IS MISSING...the WHOLE THING IS GONE With the keys inside gone as well. Long story short after a quick call to my broker to make sure he had not come by and removed it...the garage door was ajar and once I opened the door (which BTW I should have stopped before doing so as the robbers could have still been there!) Saw that all of the homeowners belongings had been stolen that were in the garage. The front door was relocked all the blinds shut so the robbers could move in the house without being seen from the street. The home was stripped of all stainless steel appliances BUILDER GRADE and BUILT IN appliances as well as the stainless steel trash cans, washer and dryer, etc. Beyond PANICED and SCARED out of my MIND...911 on the way and the whole violated sickness swept through my body. In tears I knew that I had to tell my clients who now live out of the country that the home they are trying to sell in the crazy market we are in just got ROBBED of all of its appliances and to make matters worse, teh robbers now have the KEYS to get back in freely. Of course I immediately called a locksmith to rekey the whole home but no matter what I do I will never feel safe going back to the house and neither will the owners.
We take for granted that our homes whether lived in or not are "SAFE" with Supra Lockboxes and or Combo boxes on the doors. Please note that the one we had on this home was the top of the line lockbox, with remote entry. The robbers either had a supra or cut the box off without leaving ANY SIGNS of forced entry! NOT EVEN A SCRATCH PEOPLE! They pulled into the garage and made out like the bandits they are and drove away all while the signs from the street were that the home was empty.
In my listing I had a flyer with all of my listings on it, complete with address...and weblinks. SOUND FAMILAR? After filing the police report, I went back to the office typed a full statement, listed all items I could tell were missing, contacted CSS (showing service) retrieved a full report of all agents that have shown the propery, contacted my clients sent them copies of the report. Then proceeded to call my clients to inform them of the situation. I gave them instructions to immediatley remove the key from the lockboxes outside and keep them near the front door where they can place them back in the lockbox prior to any showings which have always required an appointment as the rest of my listings are lived in. But even if I they were not lived in I would remove the keys until agents requested a showing. My listings are at risk now because the robbers have their address and links to "preview" all they own inside due to our wonderful VIRTUAL TOURS and Still Photos online on MLS, my company sight, etc.
I could have been harmed, the robbers could have been in the home when I went in, they could be anywhere maybe driving around looking for vacant homes in the area still to this day and likely are doing just that. Agents, we are in the business of selling homes, showing homes even if we are not the listing agents. We are at a high risk for crime to not only happen to us but our clients and their homes. PLEASE be careful and take caution NEVER let your gaurd down always proceed inside the home alert and if you see ANYTHING out of place any signs that something is wrong call 911 immediately.
Make sure your clients homes have HOME OWNER INSURANCE WITH REPLACEMENT COVERAGE! Remind them if they are in a home with a combo lock to remove the key until the get a call for a showing, do this as a procaution it shows that you care for them, their home, etc.
I pray that this does not happen to you, within 2 DAYS of checking on my listing my clients home was robbed of nearly $35,000 dollars worth of appliances. and personal belongings. DON'T let this Happen To you...be careful out there.
Happy and SAFE Selling!
Kimberly McCampbell, Realtor
GMAC Houston Home Sales
Selling Your Home in a Challenging Market????
We all want nothing more than to sell your home as fast as possible. In a challenging market that is even a harder thing to do. If you are considering selling your home remember these few things BEFORE you list with a reputable realtor....
Does your home REALLY have curb appeal?
Have you held off from doing some minor repairs to your home?
Are the windows clean inside and outside?
Is your home REALLY clean???
Cob Webs in corners is not attractive unless your a SPIDER!!!
Consider having your carpets professionally cleaned and streched or better yet REPLACED if over 5 years old.
Do you need to update your kitchen and bathrooms???
A little updates in the right places will help your home sell faster and increase property value which mean more money back to you!!!
Have you considered hiring a professional stager?
Just because you love the way your furniture is arranged does not mean that a BUYER will feel the same and a professional stager can move things around and tell you what needs to go and what you need to keep - all with the ultimate goal of attracting more BUYERS!
Do you have a REPUTABLE REALTOR?
I use the term reputable because there are MANY realtors out there and not all are PROFESSIONAL and take their job seriously, so shop around until you find one you like and can work with.
Now for the most important step in selling your home fast...the price. You can "think" your home is worth far more than what it is actually worth and that is a common mistake. Sellers a little note....BEWARE of the realtor that tells you that you home can sell for an outrageous price in the market THEY ARE LYING! This market is a BUYERS market so the price you "WISH" it was worth will not sell your home faster it may help your neighbors sell theirs faster but will NOT help you sell yours faster. Over pricing is one of the main reasons homes do not sell. In most neighborhoods a NON REPUTABLE realtor will do ANYTHING to get a listing and will tell you whatever you want to hear just to get a sign in your yard FOR ADVERTISING....do not be fooled by this do your homework and get Market Analysis done by more than one realtor to get a good idea of what your home is worth.
Find a realtor you can work with that is honest and focused on making you happy as a client not just one that is with a huge firm with a fancy sign...it is NOT the sign that sells your house it is THE AGENT...not the gimmicks!
Get references from them...we work for you we are your Realtor when we are listing your home we are doing a job for you and you should know who you are hiring.
A note to all the Buyers out there....Realtors services are FREE to you we will do all of the work for FREE....the Sellers pay both the Buyers Agent and the Sellers Agent. That is something that is normally explained to Sellers but very few Buyers understand that.
A reputable realtor will also follow up with you, let you know what advertising they are doing and what activity your home is having from those efforts.
Homes that sell fast are priced right and clean, marketed correctly and shown regularly.
Good Luck and Happy Selling!!!! If you need a realtor I would love to assist you in Buying and Selling your home, give me a call anytime my husband and I are a team and we will work constantly for you!
OPEN HOUSES....a Neccessary Evil?
As a Realtor, of course I have had my share of "Open Houses" and some have had great attendance and others...well lets just say I got totally caught up on my reading. (In fact finished one book in "Twilight" series...)
But as an agent we all at one time or another have held Open Houses. Our clients expect them, we are told we need them, send out multiple eflyers in hopes that they get OPENED, and sit patiently and wait for the next car to pull up in the driveway. Some good does eventually come from them, usually one or two good leads, but am I the ONLY Realtor that feels they leave me FLAT????
I think we should all UNITE, no matter what company we are with we all have the ultimate goal in mind...to sell our clients house! We can not rely only on MLS to get or listings seen and SHOWN. And now let me add one more thing to the table, these new signage regulations. I mean has there EVER been another situation so perfectly in line with the saying "a few bad apples spoil the whole bunch"? I for one see the need in having signage on roads leading to an open house, what if it is not on a main street and so far back in a subdivision that no one could find it otherwise? I have ALWAYS taken down the signs when I am finished but now that some have decided to leave them cluttering the roadway we are going to be fined for putting them up? This is terrible for our business, we have to be able to show that we are having an Open House...are they suppose to just drive around all day until they maybe find it or just GIVE UP? Because lets face it no matter how computer savy WE are many buyers are just driving around without HAR access...
Ok, so I am not suppose to be ranting, but I am very frustrated by the new regulations which has made an already strained situation that much harder. Back to what I said earlier about trying to UNITE openhouses. If we had an avenue to get the word out to other realtors without opening countless eflyers and emails about open houses for Broker/Agents I think we would be more likely to attend them. I also think that if we would unite with other realtors in the same area to cross promote our PUBLIC openhouses we would have greater numbers of vistors and potential BUYERS all while sharing the advertsing cost that goes along with promoting the open house.
These are my thought, we all have them BE HONEST you have thought about this RIGHT? So lets start this discussion and iron out better OPEN HOUSES, so we can meet at the closing table instead of being at an EMPTY one!
Let me know your thoughts fellow REALTORS, I look forward to hearing from you...
"The McCampbell Team"
GMAC Houston Home Sales
Our Local Outlook to sell or not to sell that is the question????
As we all have seen recently signs are going up in our area showing that many homes are for sale and on the market. For those that choose to sell in our current market the motivation that is driving them to do so is either my necessity, or the desire to move up to a better home since their money will go further in a buyers market. Although there are many reasons to sell your home far more than just the few reasons I listed, there are a few questions you should ask yourself when trying to decide whether to sell or not to sell you home:
1- What is your reason for deciding to list your home?
If you answer for any other reason but the two I listed above and are simply trying to feel out the market then proceed with caution. When listing in a market like we are in now means that buyers have so many choices and they can be less willing to pay what you feel your home is worth. Lower offers, lack of interest are all common in this market. Pricing is the main issue, if you are in a hurry to move you may find that your home is not selling fast enough. Fast moving properties are priced right in the current market they are not based on old data or where your home was priced years ago. Listen to your Realtor when they show you the CMA and it shows the home should be priced differently. They want you to get to the end result but can not do so without the proper price. Remember PROPER PRICING= SOLD! That being said we are in the process of seeing the market get better and it is changing almost daily. Also, too many homes in one area naturally drive down the price that a property is worth. So do your neighbors a favor and only list if your are really motivated to sell and realize that you may not get the asking price you want on your current home but that means that once you are able to purchase another home you are likely to get far more for you money.
2- Do your REALLY need to Sell?
Some people choose to sell to cash out on equity that they have earned in their current home. Normally that is a reasonable, now with interest rates so very low (historic lows) it may be a better idea for you to refinance your mortgage and get the rate locked in now! Say you took out a 30 year, $300,000 fixed rate mortgage two years ago? If you kept your current mortgage with the remaining balance of say $292,400 at 6% and your monthly payment was $1800, your future interest payments would equal $311,940 compare that with the same remaining balance at 5% interest with a new monthly payment of $1570 with a total of future interest payments being $272,680. That means that just by the reduction of 1% in your interest rate you will have saved yourself from paying $39,260 in additional interest! That is enough to help pay your child's college tuition...and whatever else you could find to do with nearly $40,000! SO you see refinancing is a very smart decision.
3- I really need to sell, but I am I ready for what it will take for me to sell my home?
To sell your home in a "buyers" market your home needs to show well. That means you will need to do many things to get your home ready to show potential buyers. #1 gets your home looking good on the outside so that you will have "curb appeal". #2 reduces personal items in the home to increase your buyer's ability to see them in your home. #3 get rid of clutter....nothing turns off buyers like a home that you can't see due to the over abundance of clutter. #4 Consider new paint inside and new carpet if the home is more than 5 years old. Even though you love PINK your potential buyer may not be so fond of that color or your collection of teddy bears that you have been collecting since birth. You get my drift right? Do not assume everyone will like what you like, remember when you bought your home the open spaces, large rooms, flooring, storage space, great kitchen all those things that made you fall in love with your home is what the buyers need to see too! Start to pack up those items to take to your new home and turn your current home back into a house like it was when you first saw it. Consider hiring a professional stager that will assist in getting your home show ready! A professional realtor like me will provide you with a list of reputable stagers that can get you set up for far less than you think! #5 Be ready to make yourself scarce for open houses and showing appointments if you currently live in your home. A home will not be sold unless buyers can "see" it! So get babysitters, pet boarders, and schedule activities away from home so that buyers are able to view your home on a regular basis.
Just a final note, deciding to sell your home is a "BIG" decision. Always consult a realtor that you feel comfortable with and that has YOUR best interest at heart. This will help make the process smoother, and will aide in protecting you as well as your financial future. If you don't have a realtor and are looking to buy or sell or even if you just have questions and would like to chat I am always available so feel free to contact me or David anytime. We live here and call Augusta Pines or home so you know we care! www.themccampbellteam.com