How to Sell Your House Fast: 5 Must-Know Tips to Move Your Property

On December 30, 2019   /   Selling a Home  
Tags: , , ,
sold fast sign

If you need to sell your house fast, you probably don’t have a whole lot of time to research the current real estate market and ponder how it’ll affect your home sale. You want a licensed real estate agent to help you.

Well, here’s the good news: It is possible for you, as a seller, to offload your home quickly. The experts say selling comes down to a few key to-do’s that you should take care of before your property hits the market.

If you’re ready to unload your abode, heed the selling advice of the experts below. Of course, we can’t guarantee all homeowners a quick sale, but putting these tips into practice definitely won’t hurt the chances of securing a buyer.

1. Tidy up to make your house stand out (and sell!)

If you’re looking to sell quickly, you’re going to want to start cleaning, especially before those listing photos are taken by your Realtor®.

“Pristine houses from sellers are more attractive to a buyer, which will keep the buyer excited,” says Debi Benoit, principal and broker at Benoit Mizner Simon & Co. Real Estate in Wellesley, MA. “And an excited buyer may pay top dollar to the seller and will usually write an offer quickly.”

Fast selling means getting rid of clutter both inside the house and in the yard and putting some elbow grease into making everything look like a brand-new home (yup, you might need a storage unit for maximum curb appeal).

And selling fast means cleaning from top to bottom in every room of the house. Wipe down cabinets, light fixtures, and drawers, remove any scuffs from the walls, give all kitchen appliances a once-over, clean air vents, shampoo your carpets, and then sweep, vacuum, or mop every inch of the house.

It will take you several days of work to declutter, but the payoff (making a sale!) will be worth it for a potential buyer. Trust us—this is a major part of selling a home quickly.

2. Have your house staged to sell fast

Be the best seller you can be, and go extra mile beyond cleaning. To do this, consider having your house staged, a real estate term that means decorating your place so that it is more attractive to buyers.

“It’s best to present the home in its best light when you’re selling,” explains Nile Lundgren, an agent with Trent & Company in New York City. He once had a real estate listing—unstaged—on the market for five months without ever getting an offer to sell.

“We took it off the market, staged it, reshot photos, and put it back on the market,” he says. “Within two weeks, we got into a bidding war and signed a contract for a sale shortly thereafter.”

Real estate staging typically takes anywhere from a few days to a couple of weeks, depending on the availability of rental furniture, the movers, and the installers.

If you’re facing a major time crunch to sell, Lundgren suggests focusing on staging the beds, sofas, tables, chairs, and art—items that make a house feel like a well-maintained home where people can live and get comfortable.

3. Hire a photographer to take listing photos for a quick sale

It may feel like hiring a professional will be a waste of money. After all, your cellphone has a great camera, right? But that can be a sale killer, says Rosamaria Acuña, a Realtor with Berkshire Hathaway HomeServices California Properties in La Jolla.

“First impressions are everything, and need to be done right,” she says. “A professional photographer has all the tools to capture the right lighting and make everything look brighter and inviting.” The pros also have wide-angle lenses to fit the entire room in the photo.

4. Selling quick means making your home available for showings

Once everything is set up, get ready to spend a lot of time away from your home so buyers and real estate agents can view the property comfortably—without you or your pets wandering around the halls. Selling fast is best done when homeowners aren’t there for an open house.

Remember: If you want to sell your home pronto, you need to be flexible and open with your time, to allow buyers and real estate agents to tour it as often as possible.

5. Attract a buyer with the right price

Staging and marketing your home are important components, but at the end of the day, the amount of money you’re asking buyers to pay could be what seals the deal.

“Nothing will help sell a poorly priced home—and a well-priced home can overcome many other issues,” says Aaron Hendon, a Realtor with Christine & Company in Seattle. “To sell your home fast, your house needs to be priced to compete with the others currently on the market.”

Your real estate agent will help you decide on the right listing price for your home by looking at a variety of factors: your house’s age, any updates, square footage, and the school district.

An agent will pull up comparable homes, or “comps,” that have sold in the area to evaluate the best sale price.

Back to Top

REDUCED! 575 BEACH ISLAND 101 STILLWATERS

On December 23, 2019   /   Lake Martin Real Estate  
Tags: , , , ,
575 beach island

REDUCED! 575 BEACH ISLAND
STILLWATERS

REDUCED! STILLWATERS WATERFRONT HOME

Great lake house in gated community of StillWaters.

This 3br/2ba home has a great room, kitchen and eating area in one large open area. Large screened porch off of great room and nice size deck on the water. Great entertaining potential.

Still Waters Golf, Copper’s Grill, community playground, pool and tennis courts, Harbor Point Marina and ship store just some of the amenities.

WATERFRONT HOME IN STILLWATERS

FULLER REALTY LAKE MARTIN

CALL OR TEXT 256.675.0067

Back to Top

Lake Martin waterfront homes selling faster on average than a year ago

On December 16, 2019   /   Lake Martin Market News  
Tags: , , ,
crowne point sunset

By ACRE Research

Sales: According to the Lake Martin Association of Realtors, waterfront-area residential sales totaled 17 units during November, down 26.1 percent from 23 sales in the same month a year earlier. Results were 3.4 percent below the five-year November average of 18 sales.

For all waterfront-area home sales data, click here.

Inventory: Homes listed for sale in the waterfront area during November totaled 226 units, an increase of 19.6 percent from November 2017’s 189 units and a decrease of 10.7 percent from October 2018’s 253 units.

Pricing: The Lake Martin waterfront median sales price in November was $545,000, an increase of 24.7 percent from one year ago and an increase of 13.2 percent from the prior month. This direction is consistent with historical data (2013-17) indicating that the November median sales price on average increases from October by 17.8 percent. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE recommends consulting with a local real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood. The average number of days spent on the market (DOM) by waterfront homes that sold during November was 140 days, a decrease of 21.3 percent from 178 days in November 2017, and a decrease of 3.4 percent from 145 days in October.

Forecast: November sales were equal to the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 17 sales for the month and actual sales were 17 units. ACRE forecast a total of 327 residential sales in the waterfront area year-to-date, while there were 281 actual sales through November.

ACRE’s statewide perspective: While nationwide sales declined 2.6 percent during October, residential sales in Alabama continued to grow during the fall of 2018. Total residential sales in Alabama increased 9.1 percent year-over-year from 4,473 to 4,880 closed transactions. Year-to-date through October, statewide residential sales are up 7 percent from 48,745 one year ago to 52,163 currently. Home-price appreciation in the state continued to grow as the median sales price in October increased 7.1 percent year-over-year from $146,458 to $156,872. The year-to-date median sales price is up 4.8 percent from 2017. Although nationwide inventory levels increased 2.8 percent in October, Alabama’s residential inventory decreased 9.2 percent from one year ago. Low inventory levels were a major factor contributing to rising sales prices throughout 2018. With low inventory levels, it is not surprising to see homes selling more quickly than in previous years. Homes selling in Alabama during October spent an average of 98 days on the market, an improvement of 15 days from 2017.

NAR’s national perspective:  During October, nationwide inventory for existing homes increased 2.8 percent year-over-year from 1.8 million to 1.85 million residential listings. According to Lawrence Yun, chief economist for the National Association of Realtors, “As more inventory enters the market and we head into the winter season, home price growth has begun to slow more meaningfully. This allows for much more manageable, less frenzied buying conditions.”

Back to Top

What Does an Appraiser Do?

On December 9, 2019   /   appraisals  
Tags: ,
appraiser

By: Angela Colley

When you’re considering buying a house, there are two sides to the story: the seller’s asking price and the actual value of the property. This is where an appraiser steps in.

Is the new home you’re looking at priced too high? A real estate appraisal can let you know whether the amount being asked is a fair purchase price.

Here’s more on the home appraisal process, so you can learn the true value of your future home.

What is the job of an appraiser?

An appraiser’s job is to determine the current value of a property for the potential buyer. Most of the work to determine the value of a real estate appraisal is done during an on-site inspection, where the appraiser will:

  • Conduct a room-by-room walk-through to appraise the condition of the interior
  • Walk the length of the real estate property for an appraisal of the condition of the exterior
  • Appraise the value of any amenities, such as a swimming pool, finished basement, or built-in bar
  • Note any health or safety code violations for the appraisal report
  • Record the layout of the property, inspect the square footage, and determine whether or not it’s a single-family dwelling
  • If you’re buying commercial real estate, a property appraiser may conduct a business valuation to determine market value in much the same way.

Off site, the appraiser may also evaluate the current real estate market, considering comparable properties in the neighborhood, to help evaluate the home’s value or fair market value of the property.

A home appraiser will report on the value of similar properties in your area, so you can determine whether your upcoming real estate transaction is a smart one.

How do you know if an appraiser is qualified?

Typically, your lender will choose an appraiser. The appraiser should be licensed by the state or have other certification. If the appraiser is a member of a professional organization, such as the Appraisal Foundation, he or she will most likely adhere to certain ethics codes and rules of conduct. However, not all states require appraisal certification, so do some research into appraisal value before you start.

Who hires the appraiser?

Usually, the lender or financing organization will hire the appraiser. Because it’s in the best interests of the lender to get a good appraisal, the lender will have a list of reputable appraisers it has hired in the past to discern the value of a home.

Who pays for the appraisal?

The loan agreement normally contains a set value for the appraisal of property. Whoever takes out the loan pays for the appraisal, unless the contract specifies otherwise. Then the buyer pays the appraisal fee in the closing costs. If the sellers are motivated, they may pay for the appraisal to back the asking price, which benefits the buyer by reducing closing and transaction costs.

The lender may not adjust the fee after hiring the appraiser. Expect an average range of $300 to $600, depending on the size of your real estate, property value, and location. Different types of appraisal report take various amounts of effort, which may affect the price.

How long does an appraisal take?

One or two hours is the average time spent for most property appraisals. You should receive the report in an average of three to seven business days. The amount of time it takes to complete an appraisal can depend on the type of report, the size of the property, and other factors.

What are the benefits of an appraisal?

Think of the appraisal as an investment of your time, money, and effort. It is important to know what your house or real estate is worth, and an appraisal will help you get your loan approval. Hopefully, this step and the rest of the house-buying process will go smoothly.

Back to Top

Should Retirees Rent or Own? 3 Questions to Help You Decide

On December 1, 2019   /   Retirement  
Tags: , ,

By: Terri Williams

For many of us, the decision to rent or buy is dictated by our income. If the monthly costs of homeownership take up no more than 30% of your income and you can afford a down payment, then buying a home is likely to make more financial sense.

But for retirees, who are typically on a fixed income, deciding between renting and buying isn’t such a simple calculation.

Retirees may choose to relocate for a variety of reasons, including downsizing, being closer to family, or to enjoy a warmer climate.

But no matter what your motivation for moving, you may be wondering if renting or buying a home is the smart choice. If you find yourself in a similar dilemma, ask yourself the following questions.

1. Is your income stable?

When you’re on a fixed income, it greatly helps to have fixed housing costs. That’s why taking out a mortgage might make sense for retirees.

“Having to worry about rising rent costs when you’re on a fixed budget can be stressful; owning your home means you have one flat payment every month that is also building equity for the future,” says Lori Beardslee, senior branch manager and construction specialist at Silverton Mortgage in Canton, GA.

However, in some markets, renting may be a good financial decision. According to Daniel R. Hill, CFP, AIF and president of D.R. Hill Wealth Strategies in Richmond, VA, the overall cost of renting is typically cheaper than buying—when you leave equity out of the equation.

“It’s also much cheaper to move from one rental property to another than it is to sell a house,” he says. That’s because you don’t have to worry about closing costs, homeowners insurance, a large down payment, and so on.

2. Can you afford routine upkeep?

One major concern for retirees to consider is the upkeep and maintenance that inevitably comes with owning a home. Cutting the grass, painting, and other home maintenance tasks are a hassle for anyone, but they can be downright dangerous for retirees.

Of course, these projects can be outsourced, but that costs money. And major home repairs—like a new roof, plumbing, or HVAC—can run to several thousands of dollars.

One advantage of renting is that the landlord will handle a majority of the home maintenance—some will even change the ceiling lightbulbs for you.

However, there’s another option to consider.

“Owning a condo or living in an HOA-maintained property can make homeownership much easier and maintenance-free for seniors,” says Beardslee. That’s why many seniors see condo living as a happy medium.

3. Will you qualify for a mortgage?

If you decide to downsize your home or move to another location, getting approved for a new mortgage may not be as easy as you think.

“If you have not financed a property after 2008, you may not know that the rules have changed since the Dodd-Frank regulations,” says Kevin Leibowitz, founder and mortgage broker at Grayton Mortgage in Brooklyn, NY.

Before 2008, he says you only needed a large down payment and a good credit history to obtain financing.

“Today, one of the most important factors is income, so the money you might be receiving from Social Security or your pension might not be sufficient to qualify you for the mortgage on the property you want to acquire,” Leibowitz explains.

However, Beardslee believes that it might actually be easier for older Americans to get a mortgage.

“A recent survey by the National Association of Realtors® shows that older Americans are the most worried about qualifying for a mortgage, yet have a better shot at being approved over younger generations.”

She says that credit scores and debt levels tend to improve with age, and baby boomers and the Silent Generation tend to have a more desirable debt-to-income ratio. They’re also more likely to have a larger down payment from the equity in a previous home.

“This plays a huge role in the mortgage process and gives older individuals a leg up on their loan applications,” she says.

If you do plan on buying and relocating during retirement, it might be in your best interest to rent in your new neighborhood first.

“You want to learn the area, and determine if it is truly where you want to be long term,” says Jonathan Bednar II, CFP at Paradigm Wealth Partners in Knoxville, TN. “Renting will allow you to pick up and move if your living situation is not the right fit.”

Back to Top