Tag Archives: buyers

Selling Your Home

Detach yourself emotionally

Buying real estate is an emotional decision, but the opposite needs to be true for selling real estate. Emotions can get in the way of selling your property. The more attached you are, the harder it will be to convince a potential buyer to see themselves as the new homeowner. Try to get used to the idea that the home will no longer be yours. Think of it as a product to be sold. Visit every room and say “good-bye.” Visualize yourself handing over the keys.

First impression

Outside:

Curb appeal can create a good first impression. Cut the lawn weekly while showing your home. Keep the lawn edged, fertilized and watered. Trim the bushes, prune trees and shrubs, remove weeds from the garden. Consider planting seasonally appropriate plants to add color. Plant shrubs to fill space where needed. Keep the yard tidy. Rake the leaves in the fall. Keep the walkways clear of snow in the winter. Store lawn equipment, toys, or any other large objects that my obstruct walkways.

Pressure-wash the siding or add a fresh coat of paint. Use neutral colors such as white or off-white. Repaint or replace the shutters or gutters as needed. A contrasting color is a nice touch. Add a new doormat. Repaint or replace the front door. Make sure the front door opens and closes securely and locks easily. Make sure the house number can easily be read (replace faded numbers and remove obstructions).

Inside:

Paint walls in a neutral color to appeal to a wide range of buyers. Replace burned out light bulbs. Replace carpeting or flooring that is worn out or dated.

Create an impression of order around the house (shirts in the closet facing the same way, coffee mugs in the kitchen with handles pointed in the same direction). Dishes should be put away or stacked in an orderly fashion.Towels should be freshly clean.

Keep the home bright. Open all blinds, drapes and curtains to let in maximum light. Turn on as many lights as possible, including appliance lights and closet lights.

Removing clutter

After years of living in your house, clutter collects everywhere. Removing it is a challenge since you are attached to some of these objects. You may not even be aware how much you’ve accumulated. Bring in another set of eyes such as a friend or neighbor to help point out areas that appear cluttered. Your agent can also help with this.

Remove as many personal items as possible – you want the buyer to visualize themselves as the homeowner and your personal effects could inhibit this process. For example, remove any family photos, books from the bookcases, and accoutrements from tables and shelves. Sell, donate or throw away items you no longer want or need. Rent a storage space to keep kick-knacks, photos, extra furniture, and other personal items. Essential items can be placed in a box and stored in a closet.

Create an open environment , free from clutter. Remove any extra furniture or objects blocking access to closets or cabinets. Keep walkways clear. Create as much space as possible. Allow the buyer’s imagination to flow freely.

*Useful tip: Remove built-in appliances and fixtures you want to keep. It could be a deal breaker if the buyer learns they are not included with the home.

Limit expenses

Fixing up your home for selling need not be an expensive proposition. Focus on the major issues, such as fixing broken windows or a leaky roof. Fixing a leaking roof is less expensive than having a buyer negotiate a new roof.

When inspecting a home, prospective buyers will often “kick the tires.” They’ll play with anything that has a handle or switch, turning on and off the faucets, flicking the lights, opening and closing doors, cabinets and drawers. Replace or polish handles, door knobs, light switches and faucetfixtures. Apply grease to squeaky doors. These are some inexpensive ways to create a good first impression.

Eliminate odors

Smoking and pets are a source of unwanted odors. If you’re a smoker, you may want to move your smoking outside while showing your home.An air neutralizer such as an ozone spray can help eliminate smoking odors while not leaving behind the scent of a masking odor. If you are a pet owner, you may have become desensitized to the odors your pets leave behind, but others are not so immune. Cat owners should change the kitty litter daily and hide the litter box when showing the house. Shampoo the carpets. Use a carpet freshener periodically. Invite a third-party such as a friend or neighbor to assess your efforts.

Air out the house just before a visit from a potential buyer. Fill the home with inviting smells, such as scented potpourri and fresh flowers. Baking cookies, cinnamon rolls or home-made bread adds a warm and inviting atmosphere to your home. Starting a fire in the fireplace is also a nice touch.


Stock Market VS Real Estate Market

Why is Real Estate a better investment than the stock market? Let me give you Nine Reasons:

  1. You control it – No one in an ivory tower is making the decisions as they do in mutual funds.
  2. Sweat Equity – You can work on your investment to increase its value.
  3. Appreciation – As prices rise (they will again – perhaps soon) you can make money on the total value of your property.
  4. Depreciation – For investment properties, you can shelter income.
  5. Mortgage Pay Down – Every month when you pay the mortgage, your equity increases.
  6. Limited Supply – No one is making more dirt – so land, over time, becomes more valuable.
  7. Rents – Because of the massive slowdown in building, rents will continue to rise.
  8. Low Interest – If you have good credit, you can borrow money inexpensively. Today’s rates are as low as they’ve ever been.
  9. Leverage – You gain returns not just on the cash you’ve invested, but on the total value of your property.

The DOW fell over 500 points yesterday, and deep concerns about a global economic slowdown continue to make investors cautious. Now is an excellent time to look to real estate. Let me tell you why:

  1. The Housing Affordability Index, up 28% over a year ago, is higher than it has been since they started tracking it in 1971.
  2. Medford has been identified as a leader in the coming real estate recovery. Just two weeks ago, we were ranked third in the nation for housing growth and appreciation over the next five years.
  3. Interest rates remain historically low. With good credit, a 30-year fixed is at 4.5% and FHA is at 4.25%. Lower interest rates mean lower monthly payments. With the uncertainty in the stock market, we don’t know how much longer rates will remain this low.
  4. Compared with the same period a year ago, our inventory has declined -28.6%. When supply goes down, prices go up.
  5. The decline in home prices is slowing. The momentum in the market, especially for homes under $250,000 combined with less inventory, means prices may be at the bottom and ready to move upward.
  6. Home prices have fallen 50% in five years and are now far below construction costs. It is an excellent time to buy investment properties.
  7. Appreciation will return to the real estate market, and we are poised to see that happen sooner rather than later.

This real estate market environment For Medford and Jackson County, OR is excellent for both buyers and sellers. Are you thinking about upsizing your home? Are you a first-time homebuyer? Now is the time to act. In the next two weeks, you will cross paths with someone who is thinking about buying or selling. Have them talk to me. My record demonstrates that I help both buyers and sellers achieve their goals in their desired time-frame.
Visit my website, www.JudyMillerRealEstate.com to see all listings for our area, email me at judymiller@johnlscott.com or call me at 541-941-6201. I’m excited to hear from you.