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If you're thinking about selling your home, there are important things to know that can impact your sale. Before you accept an offer, make sure you're choosing the right buyer and not just the highest offer. Our real estate agents know that the highest offer is not always the best one, and you should consider other factors if you want to make the right choice.
Look for Pre-Approved Buyers
Buyers looking for mortgage loans must first qualify with a lender by showing proof of finances, income, job stability, and credit history. After reviewing this information, buyers may be pre-qualified or pre-approved for a loan, but there's a big difference. A pre-qualified buyer is not guaranteed loan approval, but a pre-approved buyer is given a pre-approval letter by the lender that ensures a mortgage loan for a certain dollar amount.
Selling your home is a big deal, but it doesn't have to be an impossible challenge. If you're thinking about moving, our real estate agents can help you avoid bad pricing advice that can keep your home on the market way too long. Take a look at six common pricing mistakes you should avoid.
Price Your Home Without a Market Analysis
Pricing your home so it's comparable to prices of other homes in your surrounding area is an important sales tool. A good real estate agent will do a complete comparative market analysis (CMA) and spend a lot of time researching homes for sale and comps in your area. When a CMA is done correctly, your home should sell relatively close to the listing price and within a short amount of time after it hits the market.
The kitchen has often been called the most important room in the home, and that statement holds true when it comes time to put your home up for sale. Our real estate agents have learned that one of the first things prospective buyers look at is the kitchen.
That's why we always recommend that homeowners make sure their kitchens are up to par before listing their Southport homes for sale. If you're planning on selling your home, consider these affordable kitchen upgrades before you do so.
Selling your home is a process and has many steps. One of the first things you will need to take care of is the appraisal. Before you schedule an appraisal, you will want to make sure your property is ready for the intense scrutiny it will soon have to endure. The following steps are just a few that our real estate agents recommend to help our clients get their homes ready for an appraisal.
When you're selling a home, it's customary for a buyer to get an appraisal. A home appraisal is an unbiased report that uses the home's features and size, and data from the current real estate market and comparable home sales, to determine the property's value.
Homebuyers usually schedule an appraisal as part of the mortgage application process. Our real estate agents suggest following these tips to ensure your home is ready for the appraisal.
Sooner or later, most homeowners will face selling their home and moving elsewhere. Many life situations can necessitate the sale of a home — change of jobs, marriage, divorce, retirement, or simply the quest for a "dream home." Regardless of the reason, you may be contemplating listing your home among Southport homes for sale.
Few of us could have imagined the changes 2020 had in store for us this time last year. Changes to our work lives, schooling, finances and retirement plans, travel plans and commute times, family organization, even cooking, outdoor activities and other hobbies have been transformed. For some of us, there's been a growing mismatch between the home we've loved for years and the way we live now.
Even if you're happy in your current home and it fits you to a tee, you owe it to yourself to consider the market. Let us help you identify the opportunities that make up the silver lining of a very difficult year. It may be that the perfect buyer for your home is out there right now. You might maximize the utility of your home by selling it now and moving ahead to your next real estate investment that will better accommodate your needs in the future.
Q. What about the upgrades I was planning to make to my outdated kitchen? I want to get top dollar for my home!
A. Many buyers would prefer to choose their own appliances and finishes. A good Buyer's Agent will help them connect with qualified professionals to do the work on a convenient schedule after they take possession of the home. Instead of making cosmetic improvements, focus your energy on any functional repairs that may be needed. The point is to reinforce the idea that your home has been well-maintained. You can look forward to putting your creative energies into a new home!
Q. Where will I move ?
A. Wherever you want! See something you like? Let us approach the current owner and make inquiries on your behalf. Your interest might persuade someone else who just happens to be "sitting on the fence" at the moment. We can also find you a "lot and home package." Builders often buy vacant land for future spec projects at very low prices. Many of them are more than happy to sell under the condition that you use them to construct the new home. This can represent a great value for the buyer since they'll already have plans selected that suit the location and meet local building codes. You'll often have the added advantage of choosing your appliance package, paint colors, hardware and other features without having to pay the higher price of a truly custom home.
Q. Life is so hectic these days. I don't have time to drive around looking at things or spend hours online.
A. You don't have to, that's our job! We can be sure that you're notified as soon as something new comes on the market that meets your specific criteria. If you need three bedrooms, you will only see homes with three bedrooms, not two, and not four. You'll be surprised at the way we're able to customize our searches by the school district, distance from the beach, community amenities, and of course the features of the home itself. We also see a wider range of options coming on the market now. Some people are letting go of their primary residence to move to their second home full-time. Some are getting out of their rental investments and some are letting go of investments in land. We will help you explore all the options.
Q. How will I manage to afford it? Times are tough!
A. You might be surprised. Talk to your banker or credit union representative. Rates are still at near all-time lows and getting pre-approved makes any offer you do make all the more attractive. For some, working from home means being able to save money on their commute to work. It may also mean you can relocate to a neighborhood with no POA fees, lower taxes, lower insurance rates, or simply a lower price per square foot. More people are also combining households these days. What was once the 'down-sized' retirement home for someone who has decided to move in with adult children might be the perfect next home for you!
Q. We want to wait and sell at the top of the market. Are we there yet?
A. You never really know where the top of the market is, until it's already in the past. This is why "market timing" doesn't actually work when it comes to selling real estate. By the time you notice a slight drop in closed prices, everyone else sees it too. And those closed prices are based on contracts signed 30-60 days or more in the past! There will be a slight increase in inventory at this point because nobody wants to miss the opportunity to realize their home's top value. That's understandable but increased supply means decreased relative demand. Prospective buyers will also think they might gain some advantage by waiting a bit longer. They feel no urgency anymore. Additionally, homes don't typically sell the moment they're listed. The idea of market timing is based on automated sell orders you can set for stock market investments. The mechanics of this situation are just not the same. Another, often overlooked, reason for selling before you see the absolute peak is what we like to call "instant equity." When you anticipate the market, your new home's value will be lifted as we crest the peak of top pricing. That value becomes yours as equity, while you continue to pay the low mortgage rates locked in shortly before your closing date.
Q. What's the next step? How do I begin the process of listing my home?
A. You've heard you should never expect something for nothing, but that's not entirely true. The first thing a good listing agent will do is gather information for a comparative market analysis. We do that for free, before you sign any sort of contract, so you will know where you stand in a competitive market. It's also the only way for us to develop an appropriate marketing plan. We have the tools to present your home to the pool of most likely buyers as soon as it's listed. Whether that means including it in the Luxury Portfolio program, or digging into our contact lists for the new buyer who has been waiting to leave a long-term rental for a new home that is just the right fit. We're hearing from lots of folks who want to downsize as well as those who want more space, or just more flexible space. And we're always active with relocation clients. Don't forget, we've been turning visitors into locals since 1981!
Drop us an email or give us a call. We look forward to hearing from you!
Having a pet in your family makes your house feel even more like home. Unfortunately, not all buyers are thrilled about having a four-legged friend as a prior resident — especially if they have pets themselves. Our real estate agents understand that you have a lot on your plate as you sell your home. We want to take a moment to remind you that there are a few additional tasks to add to your to-do list if you're selling a home that housed a pet. Pet owners should complete these duties before a showing.
Clutter has a way of catching you off guard. Even if you're a naturally tidy person, it can seem like as soon as you turn your back, clutter sneaks up and becomes a problem overnight.
Lately, we've all been spending a lot more time at home than we're used to, which is why our REALTORS® are particularly eager to share some de-cluttering tricks. Here's how you can enjoy a cleaner, less cluttered home this summer.
Benefits of Decluttering
Ask anyone who has bought or sold a home for real estate advice, and you're likely to hear some interesting answers related to that person's own experience. But no matter how good the intentions of the friend, family member, or colleague providing that advice, it can be hard to separate myth from fact. The stakes are high when buying or selling a home, so it's important to have the facts before you engage in the process. Our real estate agents are here to help, by debunking five common myths that you have likely heard about the real estate market.