Is your House Camera-Ready?

According to the National Association of Realtors, 90% of homebuyers rely on the Internet as their main search tool. The photos they view online determine whether or not they visit the house. Below are some tips to make your house more appealing, both on screen and in person, accompanied by original photographs taken of professionally-staged rooms in the 2013 BIA Parade of Homes:

Declutter, Depersonalize. These points cannot be overemphasized. Clutter makes rooms look smaller than they are, while personal memorabilia such as family photos make it hard for other people to envision your home as their own. Clean and tidy rooms, and remove extra furniture so people focus on the room, not your things. Put away little trinkets, and leave only 1-3 items on any given surface (such as a fireplace mantel).

Paint and Decorate it. Avoid wall colors that are too bland or too bold. Owner of Columbus Home Staging Suzanne Byrd states that sellers should aim for something "between a crayon box and a tan box." Go ahead and use a variety of color--potential buyers may remember colorful rooms and houses more easily. As far as art on the walls, look for rich art that is modern and tasteful that does not look cluttered.

Size it. Make sure your furniture is appropriately sized for the space you have. Oversized furniture may lead buyers to believe your home is too small. Furniture that is too small may suggest to buyers that it would be difficult to furnish your home.

Clean and Fix it up. Do a deep cleaning of your home--clean even your cupboards and the grout between tiles. Bathrooms and kitchens need extra attention to detail. Go through your home and inventory what needs to be done. Fix tilted cabinets, and replace missing light bulbs and cabinet pulls. You want buyers to see that you cared for the home.

Curb Appeal. Cut your grass and trim your hedges and bushes: the first impression someone has of your home is based how it looks outside. Put away toys and organize the garage so that it looks spacious. Apply fresh mulch to your landscaping. Make sure your front door creates a welcoming entrance. Please reference my previous blog post on how to spruce up your front porch for under $100.

Seek Additional Help. As a real estate agent, I help homeowners prepare their homes for photographs and showings at no additional cost to you. Contact me for more information. Professional stagers are also available, but can be expensive. You can expect to pay $150-$250 for an initial consultation, during which they will walk through your house and give your their advice on window treatments, furniture, floor coverings, etc. A stager can then be hired to fix the problems, or you can tackle them yourself.

Sellers: Turn a "Looker" into a "Buyer"

The best incentive you (as a seller) can offer buyers is a fairly-priced home in great condition. However, there are more creative incentives that may make your listing stick out. Buyers need to be able to picture themselves living in the home you are selling. If you are selling a home or condo on the water, consider including a kayak, jet ski, or fishing equipment in the home's asking price. If your home in on or near a golf course, include a golf cart. These "bonuses" will help stimulate excitement among buyers.

If you are selling a home as a vacation home, consider leaving it furnished or providing a gift card for furniture. A buyer may not have enough furniture to fill a second home. Stocking your home with fresh linens, towels, and kitchenware is also a plus.

If your buyers are concerned about affordability, you can coax them into buying your home in a number of ways. Offer to pay some of their closing costs. If your home requires you to pay HOA fees, offer to pay the first year's worth of HOA fees for your buyer(s). The same goes for homes that are near community country clubs. You can offer to pay initial membership fees, and also monthly fees as you see fit. This will help buyers picture themselves living in your home, because it links them to their new community from the start. You can also offer to pay a year of property taxes and/or mortgage payments. Some sellers allocate money for buyers to use on repairs and rennovation, which helps when buyers are concerned about the condition of the home. 

It comes down to understanding your buyers--what are they looking for most? Some sellers leave behind appliances, televisions, and even cars!  No matter what you end up including in your final offer, be sure to communicate with your real estate agent about prospective buyer feedback, which can help you strategically list and market your home.

Need an agent? Contact me! I work with both buyers and sellers in Central Ohio. Read what my previous clients have to say, here.

Guidelines for First Time Homebuyers

Home ownership is a big investment in time, money, and lifestyle. To get the most for your money, follow these four guidelines.

1. Boost your credit score. How? Request your free credit report at the start of the year. Dispute issues and pay off debt. Refrain from opening new credit lines and avoid buying big ticket items such as cars and furniture, as this will cause your score to temporarily drop.  Your credit score influences your mortgage approval and rates.

2. Save for a down payment. Also to get the best mortgage rates, plan for a 20-30 percent down payment. Cut optional expenses and save that money for either a down payment or private mortgage insurance.

3. Do your research. Determine what type of loan you want (conventional or unconventional), what you can afford, and what you qualify for. An online mortgage term comparison calculator will help you get an idea of the cost. To see current rates and get quotes from local lenders, click here.

4. Find the best Realtor. In an age dominated by technology, a Realtor remains irreplaceable. Buying a house is stressful—let a professional guide you through the process, negotiate on your behalf, and handle paperwork. Realtor.com suggests looking at various Realtor’s client testimonials—read mine here. I work with both buyers and sellers in the Central Ohio area. If I can help you or someone you know, please contact me. 

The Importance of Having a Realtor

With mobile apps and Internet sites such as Realtor.com, it's easy for house hunters to form an idea about what type of home they want and how much they want to spend. But that doesn't mean that Realtors are no longer necessary! Following is a list of reasons why it's critical to have a Realtor when buying, selling or leasing a property.

• Realtors have an up-to-date, high level of knowledge about the real estate market. This is important because real estate transactions are often the biggest investments of one's life.

• Realtors can help determine how much you can afford to spend, as well as how much you should spend.

• Realtors can refer to you to the best qualified lenders. They can also find qualified home inspectors to generate written reports. 

• Realtors have access to exclusive resources, such as the MLS (Multiple Listing Service). This may show available homes that are not openly advertised. For example, Realtors know from the MLS  and from fellow Realtors when new homes are listed before the general public knows.

• Realtors can provide information and evaluation when viewing homes, and can also offer objective input. Realtors are especially helpful for local community information, including utilities, zoning, and school districts. 

• Relators are expert negotiators, working to get you the best possible price. 

• Realtors serve as marketing coordinators and distributors to other agents and networks. They can host marketing campaigns such as open houses.

• More then 50% of real estate sales are cooperative sales, meaning a real estate agent other than yours brings in the buyer. This proves how important it is to take advantage of the connections real estate agents have with one another. 

• Finally, Realtors can guide you through the closing process, helping you understand and work through the legalities and paperwork involved.

Looking for a Realtor? I work with buyers, sellers, and renters. I encourage you to read my client testimonials and contact me!

Going Mobile: Real Estate Apps for iPhones, Androids, and iPads

In the real estate market, demand continues to trump supply. Homes in Central Ohio are changing hands quicker and, on average, sitting on the market for less than three months. That’s why it’s so important that you have easily accessible tools to help you stay up-to-date in your home search. For those of you who have used Realtor.com in your home search, good news—Realtor.com also has apps for iPhones, Androids, and iPads.

iPhone Users: Realtor.com’s iPhone app is free to download and has many of the same capabilities as the website itself. You can customize price range, size, age of home, and even school district among other things. The app also has a feature for open houses and foreclosures. If you’re renting a home, no problem. Realtor.com’s Rentals app allows you to take photos and notes while touring a rental.  It also notifies you when you’re near a rental you’ve saved.

Android Users: Similar to the iPhone apps, Realtor.com has Android apps that serve both buyers and renters. The apps have many of the same features, such as a price change alerts on saved listings and the ability to highlight the area in which you want to search. The Rentals app allows you to tailor your search based on what is most important to you, such as pet and parking policies. It too allows user to take and share their personal pictures and notes.

iPad Users: Realtor.com’s iPad app gives you access to the largest and most frequently updated set of real estate listings available. It offers even more search criteria as well as larger images.

Of course, nothing compares to the guidance you receive when you work with an agent one-on-one. I would love to have the opportunity to earn your business; contact me to see how I can be of help!

Watch a brief tutorial of Realtor.com's iPhone app, above.

Why You Need a Realtor to Sell Your Home

Some sellers try to save on commission by listing their home "for sale by owner." Instead of the listing being entered in the MLS, which requires an agent and feeds to more than 900 internet sites such as Realtor.com, for-sale-by-owners (FSBO) market their home using yard signs, alternative websites, and word of mouth through friends, relatives, and neighbors. 31% of FSBOs don't actively market their home at all. Because 90% of homebuyers search the internet for potential homes, and 87% use a real estate agent to gain information, FSBOs are at a severe disadvantage. 

The result? The average FSBO home sold for $174,900 in 2012, while the average agent-assisted home sold for $215,000. The for-sale-by-owner thus would likely have gained more money using an agent, even after commission. Perhaps this is why FSBOs accounted for only 9% of home sales in 2012. After all, why would a buyer be willing to take the time and effort to buy a house directly from a seller when the buyer could get much more help from a licensee?

FSBOs usually don't sell their homes for many reasons. It's difficult for FSBOs to show the property. Homes with nicer interiors than exteriors will miss out on home buyers who drive by the home and are not told of the home's great interior features. If someone does come to the door and ask to see the home, the owner takes a great security risk. Agents accompany buyers in all home showings. Moreover, any time the seller is not home, the house is off the market and cannot be showed. When you work with an agent, the property is constantly on the market, because the buyer will have a licensee to provide requested information at any time. 

FSBOs face financing issues. Buyers may want help in deciding where to go for a home mortgage and may not understand the process. Oral negotiation is also a problem. A licensee will put an offer in writing and ask for a good faith deposit so that the seller only needs to sign an offer if the offered price is acceptable. FSBOs, and even general attorneys, often cannot properly and promptly fill out a contract form. Agents are expert negotiators, and written contracts ensure the buyer doesn't back out or try to buy the house for a lower-than-agreed-upon price. An agent's educational training allows him or her to draft a valid contract that will not end up in court. 

Real estate agents ensure that enough time is devoted to a seller's home. Agents can help sellers fix up their home for sale, attract potential buyers, understand and preform paperwork, help buyers obtain financing, and, most importantly, get the right price within the planned length of time. Looking for an agent? Contact me to see how I can help. I've lived in Central Ohio all my life so I know today's market very well, and as a full-time agent, I'm 100% dedicated to my clients. Visit my website here.  

What is a CMA?

Overview:

"CMA" stands for comparative market analysis. This service can be prepared by licensed real estate agents, and it commonly used to price a home for sale. 

 How it works:

An agent gathers and analyzes property characteristics of homes currently for sale, homes recently sold, and listed homes that did not sell. These demonstrate what buyers actually pay in the marketplace, what owners of similar properties are asking, and the resistance level of buyers to overpriced listings, respectively. A CMA compares the subject property (property being appraised) and comparable properties--similar properties in the same market area that can be used to help estimate the value of the subject property. Agents adjust for differences between the subject property and each comparable property. Adjustments are always made to the comparable property. Adjustments are subtracted from the comparable property if the comparable is bigger or better, and added if the comparable is smaller or less desirable. Finally, the values given to each property are reconcilled. The property most similar to the subject will be most heavily weighted.

Example:

If a comparable property has one more bedroom than the subject, and a bedroom is valued at $10,000, then $10,000 will be deducted from the comparable property. Note: it may have cost more or less than $10,000 to build this room--a CMA considers value (what buyers and sellers believe a certain feature to be worth) rather than cost. This is illustrated when homeowners build pools: they often spend more on the pool than they can resonably expect to get out of it in resale. The value of the pool is, therefore, less than its cost. 

What it will cost you:

Nothing. I provide free, no obligation consultations to help you know what will help your home sell quickly and for the most money. Call, text, or email me to set a convenient time to meet.  

JackCurtis@kw.com / 614-893-8337.
Visit my website here.