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Seller Tips Category

2 Things you don’t want to hear from your listing agent

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The Two Things You Don’t Need to Hear from Your Listing Agent

You’ve decided to sell your house. You begin to interview potential real estate agents to help you through the process. You need someone you trust enough to:
1.Set the market value on possibly the largest asset your family owns (your home)
2.Set the time schedule for the successful liquidation of that asset
3.Set the fee for the services required to liquidate that asset

An agent must be concerned first and foremost about you and your family in order to garner that degree of trust. Make sure this is the case.

Be careful if the agent you are interviewing begins the interview by:
•Bragging about their success
•Bragging about their company’s success

An agent’s success and the success of their company can be important considerations when deciding on the right real estate professional to represent you in the sale of the house. However, you first need to know they care about what you need and what you expect from the sale. If the agent is not interested in first establishing your needs, how successful they may seem is much less important.

Look for someone with the ‘heart of a teacher’ who comes in prepared well enough to explain the current real estate market and patient enough to take the time to show how it may impact the sale of your home. Not someone only interested in trying to sell you on how great they are.

You have many agents from which to choose. Pick someone who truly cares, like me 🙂

Don’t wait, Move up to that home you have always wanted!

Don’t Wait! Move Up to the Home You Always Wanted!

Posted: 28 Jan 2014 03:00 AM PST

Now that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. Prices are still below those of a few years ago and interest rates are still below 5%.

However, sellers should realize that waiting to make the move while mortgage rates are increasing probably doesn’t make sense. As rates increase, the price of the house you can buy will decrease. Here is a chart detailing this point:

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Top 5 reasons your should not be a for sale by owner

Do-Not-FSBO5 Reasons You Shouldn’t For Sale by Owner

Posted: 05 Feb 2014 04:00 AM PST

Do Not FSBOSome homeowners consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). We think there are several reasons this might not be a good idea for the vast majority of sellers.

Here are five of our reasons:

1. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to FSBO.
•The buyer who wants the best deal possible
•The buyer’s agent who solely represents the best interest of the buyer
•The buyer’s attorney (in some parts of the country)
•The home inspection companies which work for the buyer and will almost always find some problems with the house
•The appraiser if there is a question of value
•Your bank in the case of a short sale

2. Exposure to Perspective Purchasers

Recent studies have shown that 92% of buyers search online for a home. That is in comparison to only 28% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

3. Results Come from the Internet

Where do buyers find the home they actually purchased?
•43% on the internet
•9% from a yard sign
•1% from newspapers

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

4. FSBOing has Become More and More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years.

5. You Net More Money when Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real commission. The seller and buyer can’t both save the commission.

Studies have shown that the typical house sold by the homeowner sells for $184,000 while the typical house sold by an agent sells for $230,000. This doesn’t mean that an agent can get $46,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

Bottom Line

Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.

Selling or Buying? Now may be the time

Autumn Piggy Bank2As we enter the winter months, many expect the real estate market to begin to slow down. However, this winter there are many reasons that both buyers and sellers should consider moving forward with their real estate goals instead of waiting until the spring.

BUYERS

Waiting until the spring will probably mean increases in the two elements that determine the cost of purchasing a home: home prices and mortgage rates.

SELLERS

A seller will get the best price when demand is high and inventory is low. Demand will remain strong throughout this winter (see above) while inventory historically shrinks this time of year

Solds in East Cobb since June 1, 2013

All solds in Walton,  Pope and Lassiter School districts since June 1, 2013! Thinking of selling, call me today at 770-354-0243 for a no pressure conversation regarding what your home might sell for today!Capture

 

You need a professional to help you buy or sell your home

You Need a Professional to Sell or Buy a Home


You Need a Professional to Sell or Buy a Home

Posted: 08 Oct 2013 04:00 AM PDT

HiResMany people ask us whether they should hire an agent to sell their home or whether they should first try as a For Sale by Owner (FSBO). In today’s market, we believe this is an easy decision: you need an experienced professional!

You need an expert guide if you are traveling a dangerous path

The field of real estate is loaded with land mines. You need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a buyer ready, willing and able to pay fair market value for your home at a time when lending standards are so stringent is not an easy task. Finding reasonable financing can also be tricky when interest rates are volatile like they have been over the last several months.

You need a skilled negotiator

In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer, to the possible re-negotiation of that offer after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.

Realize that when an agent is negotiating their commission with you, they are negotiating their own salary; the salary that keeps a roof over their family’s head; the salary that puts food on their family’s table. If they are quick to take less when negotiating for themselves and their families, what makes you think they will not act the same way when negotiating for you and your family? If they were Clark Kent when negotiating with you, they will not turn into Superman when negotiating with the buyer or seller in your deal.

Bottom Line

We believe that famous sayings become famous because they are true. You get what you pay for. Just like a good accountant or a good attorney, a good agent will save you money…not cost you money.

If you can’t sell, should you rent your house?

Should I Rent My House If I Can’t Sell It?

Posted: 07 Oct 2013 04:00 AM PDT

For rent real estate sign in front of house

There has been a lot written about how buying a home is less expensive than renting one in most parts of the country. Rents are skyrocketing and homes are still at great prices. These two situations are also causing some sellers to consider renting their home instead of selling it. After all, a homeowner can get great rental income now and perhaps wait until house values increase even further before selling.

This logic makes sense in some cases. We at KCM believe strongly that residential real estate is a great investment right now. However, if you have no desire to actually become an educated investor in this sector, you may be headed for more trouble than you were looking for.

Before renting your home, you should answer the following questions to make sure this is the right course of action for you and your family.

10 Questions to Ask BEFORE Renting Your Home

1.) How will you respond if your tenant says they can’t afford to pay the rent this month because of more pressing obligations? (This happens most often during holiday season and back-to-school time when families with children have extra expenses).

2.) Because of the economy, many homeowners can no longer make their mortgage payment. What percent of tenants do you think can no longer afford to pay their rent?

3.) Have you interviewed a few experienced eviction attorneys in case a challenge does arise?

4.) Have you talked to your insurance company about a possible increase in premiums as liability is greater in a non-owner occupied home?

5.) Will you allow pets? Cats? Dogs? How big a dog?

6.) How will you actually collect the rent? By mail? In person?

7.) Repairs are part of being a landlord. Who will take tenant calls when necessary repairs arise?

8.) Do you have a list of craftspeople readily available to handle these repairs?

9.) How often will you do a physical inspection of the property?

10.) Will you alert your current neighbors that you are renting the house?

Bottom Line

Again, renting out residential real estate historically is a great investment. However, it is not without its challenges. Make sure you have decided to rent the house because you want to be an investor, not because you are hoping to get a few extra dollars by postponing a sale.

We need your house to sell!

Top 5 mistakes sellers make when selling their home

Selling your home is a big undertaking, it can be an emotional experience and stressful.  There are sold housesome things that you can do as a seller to help get your home sold quickly and for the most money possible, and there are mistakes that we see over and over again as agents.  Hopefully this will help you to avoid typical mistakes that sellers make, simply because they are not in the business of selling homes.  Agents such as myself are in the business and we see every day the same behaviors that keep sellers away from their goals.

Avoid these 5 mistakes and you will make more money faster and with less stress.

1.  Don’t Overprice your home.  Step back and try to take the emotionalism out of pricing your home, look at the data carefully with your agent to price it competitively and then hold there.  It is not uncommon for sellers to get 98-100% of their asking price if priced correctly. Some sellers in this market are getting over list price.

2. Going on market before the home is completely ready.  Take care of all the repairs, painting, yard work, and staging.  Make sure you present your home to the marketplace with a splash. You get the most excitement within the first 2 weeks on market.  Don’t go on market until you are 100% ready!

3. Only considering price when you receive an offer.  Look at all terms, not just price.  If someone is offering to close in 30 days but 2000 less than you want, consider your carrying costs on the home.  Additional mortgage payments, utilities, taxes, insurance etc. may cost more than the difference in the offer price.

4. Taking the feedback personally, even though it may be hard, listen to what the market is saying with feedback from the buyers.  If there is a recurring theme that you can make a change pretty easily (paint colors etc.) then do it! The buyers are telling you what they want, respond to it positively.

5.  See the forest for the trees…during the inspection and other negotiations, keep hold of the goal and the big picture.  Don’t let something small get in the way of your goal to sell.  You may regret it later!

Call me today to help you get your home sold – 770-354-0243 or email me! I will be happy to come by and discuss what your home may sell for today!

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Don’t Overprice your home when selling! Even though it may be tempting….


Selling a House? Don’t Overprice ItPosted: 15 Jul 2013 04:00 AM PDT

 

HiRes (6)There is no doubt that the housing market is coming back nicely. What, if anything, could slow down the current momentum? We believe it may be sellers’ over exuberance when it comes to pricing. There is little doubt that house prices have appreciated over the last twelve months in most regions of the country. However, with both the inventory of homes for sale and interest rates increasing, we have to be careful to not over judge what the market can bare.

Trulia just reported that asking prices have jumped dramatically and the increase is accelerating:

  • Year-Over-Year prices jumped 10.7%
  • Quarter-Over-Quarter prices jumped 4.1% (16.4% annualized)
  • Month-Over-Month prices jumped 1.5% (18% annualized)

No expert is expecting home prices to shoot up 18% in the next twelve months. If anything, price appreciation may slow as rates and inventories increase. Investors will begin to slow their purchases and the first-time buyers expected to take their place will be working within a pre-set budget in many cases.

Buyers’ Purchasing Power

Let’s look at an example: A young couple is looking for a home and have predetermined that their budget will only allow them to spend $1,000 a month on a mortgage. At today’s mortgage rate of 4.5%, they could afford a $200,000 mortgage ($1,013 principal & interest). However, if rates jump to 5%, they would have to lower their mortgage amount to $190,000 in order to keep their monthly payment where they need it ($1,020). At 5.5%, the mortgage would need to be no more than $180,000 ($1,022).

The Impact on Prices

This decrease in buyers’ purchasing power will have an impact on home values going forward. We do not believe it will cause a decrease in prices. However, we do believe it will likely cause current rates of appreciation to slow.

If you are thinking about selling your home, don’t get carried away with current headlines about home price increases that have taken place over the last twelve months. Instead, call me today at 770-354-0243 and I will help explain where prices are headed over the next six months.