This is the 15th year that Remodeling magazine has released the Cost vs. Value Report. The purpose of this report is to compare the cost of an improvement versus the value the improvement will likely add to the sale of your home. If you're thinking of selling this year, take a look at this list and see what might best benefit your home and family. This year’s survey included more than 3,900 appraisers, sales agents, and brokers across the country who provided their opinions and estimates.
Balcony
In a tight market, there will be offers. Be ready for all offers, and don't be offended if someone tries to lowball you. You know what your condo is worth. Sometimes a lowball offer is just a buyer's way of asking you if you'll negotiate. Your reply should be, "Sure I'll negotiate, but I'm not stupid."
For this reason, decide in advance what price and terms you’ll find acceptable. Then, respond with a counter-offer to keep the ball moving.
When buying or selling a condo in Alexandria, VA, the role of a real estate agent plays an important part during the process and the closing of a sale.
As a seller, your real estate agent –
Help you in analyzing its fair market value
Help prepare the condo for selling quality
List your condo to get it out in the market efficiently
Negotiate in pricing with potential buyers
Complete your sales agreement and finally close the sale smoothly
As a buyer, your real estate agent can –
Help you decide what is better for you, renting or owning
Assist in preapproval in mortgage
Locating, viewing and selecting the right condo
Help you in analyzing its fair market value
Help prepare the condo for selling quality
List your condo to get it out in the market efficiently
Get your dream condo with a real estate agent’s help. Contact Nesbitt Realtyhttp://nesbittrealty.com
1451 Belle Haven Rd. #222
Alexandria VA 22307
LICENSED IN VIRGINIA
703 765 0300
888 783 6391 (fax)
Sellers have a better chance at getting their house sold by using a REALTOR® than opting for the do-it-yourself approach, according to a survey of 1,000 home owners by HomeGain.com, an online real estate resource. Nearly 60 percent of home owners who used a REALTOR® to sell their home were successful compared to 39 percent of FSBOs, the survey found.
In the survey, 83 percent of home owners said they used a REALTOR® to sell their home, whereas 17 percent said they tried to sell it themselves. This corresponds to results from NAR's 2010 Profile of Buyers & Sellers, which found 88 percent of sellers were assisted by a real estate agent. (Additionally, 83 percent of buyers bought their home through an agent.)
“It is especially striking that home owners fare significantly better in selling their homes using a REALTOR® than selling on their own,” says Louis Cammarosano, general manager at HomeGain. “Due to that relative success, the level of satisfaction in the home selling process is also higher for home sellers utilizing the services of a REALTOR® than those who try to sell their homes on their own.”
Among the findings in its For Sale by Owner vs. REALTOR® survey:
88 percent of home owners who sold their homes using a REALTOR® said they would use a REALTOR® again.
24 percent of FSBOs eventually contacted a REALTOR® to help sell their home.
Source: “HomeGain Survey Finds Home Sellers Fare 50% Better in Getting Their Homes Sold Using a REALTOR® Than Selling on Their Own,” HomeGain.com (Feb. 24, 2011)
It's easy to sell property. The hard part is selling real estate now. When there are more sellers than buyers, properties still sell. Staging your home is important, but not so important as some might lead you to believe. Advertising your property is critical and brochures can be beneficial. Ultimately, the most important factor is to get the home in the MLS and to price the home properly.
If a home is priced too high, few potential buyers will even see your house. After the home has sat on the market for a long time, buyers will expect a price drop even if the price has already dropped! For this reason it's important to price your home at a point where it will attract attention.
In a tough market like the services of a good Realtor are needed more than ever. Your agent should be a hard worker who has the temperament to guide you through the process. You agent should be your advocate, actively negotiating your best deal. Sometimes this means getting top dollar. But sometimes this means know what to trade-off to get what you really want from a deal.
Selling your home quickly.
Here are a few quick tips to sell your house quickly.
Choose a selling agent that cares about you and your situation.
Price it right. Price is the biggest differentiator in a tight market. Set a price at the lower end of your property’s realistic price range.
Put your house in order. Your property should be ready for the market before you begin showing it.
Be flexible about showings. Home selling is often disruptive to daily life. And it's a lot of work to have your house ready to show on the spur of the moment. But prospects that can't see your house won't buy your house. The more often your home is shown the greater your chances of selling the property.
Be ready for all offers. Decide in advance what price and terms you’ll find acceptable. Don't take offense at a ludicrous offer. Respond with a counter-offer to keep the ball moving.
In addition, Will Nesbitt has devised unique strategies to overcome the buyer's market and to sell your home quickly. Ask him how he can save you money and sell your home quickly at the same time!
Net Proceeds
To find out how much money you’ll net from your house, add up your closing costs and subtract them from the sale price of the house.
Closing Costs for Sellers
Mortgage payoff and outstanding interest
Prorations for real estate taxes
Prorations for utility bills, condo dues, and other items paid in arrears
Closing fees charged by closing specialist
Title policy fees
Home inspections
Attorney’s fees
Survey charge
Transfer tax or other government registration fees
Brokerage commission
Total
Good ole Fritz
Owning a pet, which six out of 10 U.S. households do, can be a problem for both sellers and practitioners seeking buyers.
Sellers with pets should do their best to eradicate pet odor. "Odor is the biggest obstacle,” says Trudy Severa, an associate with Long and Foster's North Hills office in Reston, Va. "Anyone who is sensitive or with allergies is going to be put off."
Pet hair is another turnoff for fussy people or those with allergies. A professional cleaning as well as frequent vacuuming can help.
It is also a good idea to remove the evidence of pet residents, including getting rid of dog doors, linoleum in unlikely places, even pet crates.
During showings it is smart to relocate pets because some potential buyers may find them objectionable, no matter how cute they are or where they are contained.
Source: Washington Times, Lisa Rauschart (12/03/2010)
The best way to update a property is to paint it. It’s a job that many sellers can do themselves.
Here are six suggestions for making the work go quickly.
Montebello's Living Spaces
Move the furniture. Get as much furniture as possible out of the way, and then cover what’s left with plastic drop cloths held in place with masking tape.
Buy good paint. Top-quality latex interior paint will hide what’s underneath and make the job go faster.
Tape the edges. Taping the edges with painters tape will speed up the job and make the results more professional.
Work top down. Paint the ceiling first, then the walls, then the windows and trim and finally the baseboards. This will cut down on time spent repairing drips and splatter marks.
Cut in the corners. Applying a three-inch band of paint around the edges will allow you to fill in the middle with a paint roller.
Apply paint generously. Trying to stretch the paint won’t save sellers any money if they have to repaint.
Source: Paint Quality Institute (09/21/2010)
Julie Nesbitt
Julie Nesbitt knows the back trails and by-ways of Northern Virginia real estate.
Established in 1974 with a mission to reduce homelessness, increase community support and promote self sufficiency, the Good Shepherd Housing and Family Services is operated by a multi-denominational board of directors and staff managing over 70 housing units. Good Shepherd Housing and Family Services is located in the Mount Zephyr Business Center at 8305 Richmond…
HGTV’s real estate site Front Door says the weeks between now and the end-of-the year holidays are the best ones to find a bargain. Here are some of their tips for fall buyers and sellers:
Fall Sellers:
Replace faded summer plants with fall-blooming flowers and add autumn decorations to the home.
Expect low-ball offers and be prepared with higher counter offers.
Freshen up listing photos by shooting pictures that make it less obvious that the seasons have changed.
Price the home to sell. A price that is a little lower than the competition may be a winning move.
Be willing to show the property and hold open houses whenever potential buyers are ready.
Fall Buyers:
Look for motivated sellers who have a reason to move on by the end of the year.
Fall colors
Explore new constructions. Builders are often particularly interested in selling before the new tax year.
Beware of fall maintenance issues. Consider overflowing gutters and leaf-covered lawns warning signs.
Shape offers carefully. Even in this market it is possible to turn sellers off with a too-low bid.
Source: FrontDoor dot com (09/16/2010)photo credit: paul (dex)
As large numbers of people age, an increasing percentage finds stairs a challenge.
Bucknell Manor stairway.
Housing safety experts say climbing stairs can be good exercise for older people, but the stairs should be safe. Among the things that need to be done to increase the safety factor are:
Add lighting at both the top and the bottom.
Put stair railings on both sides.
Make sure it is easy to see individual treads by adding visual contrast.
Consider an elevator or a lift.
Consider remodeling in order to live on one floor only.
Source: Washington Post, Maryann Haggerty (08/14/2010)
