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Ten Buyer Turnoffs That Sellers Should Avoid At All Costs:
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1. Dirt- Nothing turns off a buyer quicker than a dirty house. The No. 1 biggest mistake is not getting the home in the best possible condition. Sellers should go the extra mile, from steam-cleaning tile and grout to replacing carpets. If the carpets are old and smelly, you should put in new. If they're relatively new, you should at least have them shampooed. The home should be neat and clean and free of all debris.
2. Odors- Buyers, it's said, buy with their noses. Make sure your home smells fresh and inviting. Odors are a big one, especially kitchen odors. I advise my clients not to cook fried food, fish or greasy food while the house is on the market. Some pet owners mistakenly believe pet smells to which they've become accustomed help make their abode homey. Nothing could be further from the truth.
If you're a dog person, you tend to think everyone else is a dog person. But the truth is, 50 percent of the population hates dogs and doesn't want to be near them. I advise my clients to eliminate all traces of pets, not just pet odors. It's important to get rid of pet paraphernalia and have a "pet plan" to make sure the animals are not around when the house is shown.
A lot of times, people will leave pet items out -- dog dishes, cat litter boxes, etc. That immediately turns off a buyer because they wonder, 'What has that animal done in the house?' Also, some people really don't like dogs. The minute they walk in and see this big, old dog bowl, they immediately won't like the house.
The same rules hold true for smokers: Remove all ashtrays, clean all curtains and upholstery, and consider smoking outdoors while your home is on the market. Interestingly, next to the kitchen, the smelliest room in the house is actually the living room. That's typically the room that has the most fabric, so that is where odors get absorbed.
3. Old fixtures- Want buyers to roll their eyes? Leave old fixtures on your doors and cabinets. You need to change out old fixtures in your house. New cabinet hardware and doorknobs will probably cost all of $400 or $500, but it makes a huge difference. The same holds true for dated ceiling fans, light fixtures and kitchen appliances.
Homes that have old fans, lights, ovens, microwaves, ranges and dishwashers can really turn a buyer off. Sellers will say, 'Oh, the buyers can take care of that.' Well, yes they can, but it's going to impede you from getting the highest price possible for your home.
4. Wallpaper- Your grandmother may have had it in every bedroom. Your mom may have loved it as a room accent. But today's buyer wants no part of wallpaper. Wallpaper is a definite no-no. Wallpaper is a pain to remove and simply adds another chore to a buyer's to-do list.
Wallpaper is extremely personalized. You've spent hours looking over books to pick out the wallpaper you want. What are the odds that the person walking in the door will also like that wallpaper that you picked out?
5. Popcorn acoustic ceilings- Times change, and with them home decor styles. Acoustic popcorn ceilings, once the must-have for fashionable homes in the '60s and '70s, now badly date your space. If you can't stomach the cost or the mess to remove the overhead popcorn, be prepared to credit a buyer in certain markets in order to close a sale. The popcorn acoustic ceiling is a major, major turnoff to buyers these days.
6. Too many personal items-Psychologically, when buyers tour a home, they're trying it on to see how it fits, just as they would a skirt or a pair of pants. If your house is cluttered with too many personal items, it's like the buyer is trying on those clothes with you still in them. A fit is unlikely.
Anything that makes your house scream 'you' is what you don't want. I tell all my clients that how we decorate to live and how we decorate to sell are different, and right now, we're decorating to sell. Sellers should try to eliminate personal items, including family photos, personal effects and even unique colors, she says.
As soon as you have family photos, buyers get very distracted. 'Oh, did I go to school with him? What do their children look like?” Suddenly, you're selling your family, and you're not selling the home. If you really want to hook a buyer, I suggest placing a mirror strategically so that people can actually see themselves in the home, so they can actually picture themselves living there.
7. Snoopy sellers- Realtors and buyers alike generally bristle if a seller greets them at the door for a showing. They will want to walk around with the potential buyer and put in their two cents' worth. Sellers should leave the property during showings and leave them up to their agent, after all that’s one of the reasons they hired an agent!
8. Misrepresenting your home- Misrepresenting your house online in the multiple listing service is a sure way to really upset buyers and their Realtors. Often buyers love a home online and then are so disappointed when they see it in person. Setting false expectations for the buyer is not worth it!
9. Poor curb appeal- Much is made of curb appeal, and for good reason: It's your home's handshake, the critical first impression that lasts with most buyers. You have to totally trim and edge your yard to get it into the most immaculate condition you can. It's a big mistake to not freshly mulch the beds and trim the trees. Power-wash the exterior and remove any mud dauber and wasp/ bird's nests in your eaves and above your doors. Every little detail counts.
10. Clutter-Whether inside or out, less is more when it comes to clutter. I usually start in the closets. Your closets should be half-full with nothing on the floor. Why? Because most people looking for a house have outgrown their previous house. Showing them that you've still got room to grow gives them a reason to buy.
Kitchens and built-in bookshelves should showcase spaciousness by following the rule of three. For kitchens, there should be no more than three countertop appliances. Meanwhile, bookshelves should be divided into thirds: one-third books, one-third vases and pictures, and one-third empty.
The home office should be very generic so any type of professional can imagine living there, Dana says. Otherwise, it can be a distraction: What does he do for a living? How much money does he make?
For toddler parents, pack away extraneous "kiddie litter" and keep a laundry basket handy. When you get that phone call one hour before a showing, toss everything in that basket and take it to the car with you and your kids, and you're all set.
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Should I Put My House on the Market Now?
The first question you need to ask yourself is: Are you emotionally prepared to sell? Selling is a challenge for most sellers, although some markets are better than others. Unless you bought more than eight to 10 years ago and preserved your equity, you may not be able to sell for enough to pay off the mortgages secured against the property and the other costs of selling.For sellers who have no additional assets, a short sale or foreclosure may be the only option. If so, first look into government programs that might help you out financially. Also, talk to your attorney and tax adviser.Sellers who have the resources to make up the difference between the sale price and the amount they owe need to ask themselves if they are willing to pay the additional cash in order to sell and move on.
There are two reasons why you might prefer bringing cash to closing. One is that your credit will not be negatively impacted, as would be the case with a short sale or foreclosure. The second is that many buyers shy away from short sales because of the lengthy and uncertain process involved.
The next thing to consider is the condition of your home. Is it ready for the market? The most salable homes are those that are in move-in condition.
Before racing to the hardware store, ask your REALTOR® about how much competition there is for you home. Some areas are shy on inventory of good homes on the market. If so, now could be a good time to sell.
HOUSE HUNTING TIP: The supply/demand ratio plays a significant role in the health of a local real estate market. No matter what is said about the housing market nationally, it's the local picture that tells the tale in terms of the possibility of selling your home at any given time.
Most sellers don't put their homes on the market during the last or first couple of months of the year. The inventory of homes for sale tends to dwindle during the winter months. Interest rates are low. So, if there are buyers in your local market, you may be at an advantage selling when most sellers are waiting.
Some sellers feel that if they've waited this long to sell, they should put the process on hold until spring and get the house ready in the meantime. Certainly, it's not a good idea to put your house on the market until it looks great. But if you and your house are ready to sell, move ahead. There is a lot of pent-up demand, on both the buyer and seller sides. Sellers have been waiting for a better time to sell. Buyers have been waiting for more quality inventory and a sense that prices have bottomed or are close to it.
THE CLOSING: Recent projections call for another five or so years of bouncing along close to the bottom of this market cycle. Many experts believe that the big price declines are behind us.
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Local Market Updates
I am pleased to offer monthly Local Market Update (LMU) Reports for all 54 cities and towns within the GBAR/GBREB jurisdiction and 10 adjacent communities. The LMU Reports track activity in both the detached single-family home and condominium markets, and include data on closed sales, median selling price, percent of original list price to selling price, housing affordability, the inventory of properties for sale, pending sales, and average time on the market for sold property.
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Foreign Buyers Scooping Up U.S. Properties
The housing market isn’t all doom and gloom as it turns out that U.S. property is extremely popular with foreign buyers.
"The U.S. has always been a desirable place to own property and a profitable investment,” said NAR President Ron Phipps.
Why the nearly 20 percent increase in just one year? You guessed it! Low home prices coupled with tons of inventory.
According to NAR, foreign buyers have historically been attracted to property ownership in the U.S. for a number of reasons, which include:
Homes are generally less expensive than comparable foreign properties.
Homes in this country are viewed as a secure investment.
The U.S. market offers rental opportunities and long-term appreciation potential.
New factors motivating foreign buyers (according to NAR) include:
Foreign families are purchasing U.S. properties in college areas so their child (who’s attending a U.S. school) has a place to live.
Some foreign executives temporarily working in the U.S. prefer to purchase a residence instead of renting.
It turns out that foreign buyers are also paying more on average ($315,000) for a U.S. home than the country’s national average ($218,000).
When deciding where to buy a U.S. home, three factors primarily make up the decision process: proximity to their home country; convenience of air transportation; and climate/location.
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Thank you for visiting www.MaryCraneProperties.com. I hope you find my web site to be a valuable resource for you as a seller or a buyer.Please feel free to call me with any real estate questions or concerns or just to talk about the current market, I love talking about real estate! Licensed in Massachusetts and Rhode Island, I specialize in the luxury property market, new construction, antique homes, first time home buyers and equestrian properties.
I look forward to hearing from you soon!
Sincerely, Mary
617-413-2879
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