CENTURY 21 CUDDY



Posted by CENTURY 21 CUDDY on 5/3/2020

Photo by Fotocraft via Shutterstock

Many homeowners spend thousands of dollars on improvements and upgrades only to find out that the return on their investment (ROI) is less than $1 to $1. That means that for every dollar spent, the selling price of their home does not go up a corresponding dollar. In fact, very few home improvements offer a dollar for dollar increase in price.

What some improvements accomplish, however, is a reduction of time that your home spends on the market. When calculating overall costs, a quicker sale can save you several additional mortgage payments on your home.

In-Home Improvements

If you intend to live in the house for some time, make the improvements that give you pleasure in your home. Renovate the house to meet your needs and improve your life. If you’re renovating just to sell, unless you bought the home as the lowest-priced house in a highly desirable market, redoing the kitchen and bath won’t always pay for themselves. However, they will make the home more attractive to buyers and give you a leg up on the competition.

Adding a room and increasing square-footage usually improves the home’s value. This means converting an attic or basement might be a better use of your funds. Adding a second bathroom also garners a buyer’s attention. But turning a garage into a family room could backfire on you if buyers treasure a garage more than the extra space. Before undertaking a garage conversion, speak with a knowledgeable real estate agent in that area to see which option buyers most often request.

Curb appeal Improvements

When choosing improvements for resale, adding to the curb appeal gives you the most bang for your buck. Replace street-view garage doors with carriage-house style or modern minimalist options and update the front door to match. Clean out flower beds, replant them, and trim them with stone edging. Keep bushes and hedges trimmed and prune trees to keep them healthy.

Circulation Improvements

Old homes in areas where air conditioning was an afterthought benefit from adding attic fans and insulation to improve the cooling properties. Also, when possible, install a whole house fan (different from an attic fan) as it offers superior circulation for a small investment and makes the lack of central air conditioning less noticeable.

Your professional real estate agent is your best resource to learn what’s selling in homes in your neighborhood.




Categories: Selling  


Posted by CENTURY 21 CUDDY on 2/16/2020

Image by mohamed Hassan from Pixabay

For Sale by Owner (FSBO) can be an extremely tempting prospect for home sellers. If you don't have to pay the real estate commission, you can put more of the money from the house sale directly into your pocket. But it takes more of a roll-up-your-sleeves attitude to successfully complete a home sale. We'll look at why the risks typically outweigh the rewards. 

Can It Be Done?

Before going any further, it's important to acknowledge that selling a home without the help of a real estate agent can be done. In fact, some sellers will tell you it's the best decision they've ever made. You'll need to research your state and local laws before starting the paperwork, but owners have successfully sold their own homes in the past. 

The Downsides 

There are more than a few downsides when it comes to selling a home on your own, and they typically all boil down to time and money. An agent already has a good idea of how much homes are selling for in your area, who's buying them, and why certain ones are in high demand. They know how to price the home high enough so it doesn't set the wrong anchor, but low enough to inspire interest. 

The Paperwork 

From contingencies to appraisals to closing costs, the paperwork for a home sale has become unbearably lengthy for most sellers. In the past, homes might be sold with nothing more than a few sheets of signed documents. Today, the stack continues to grow with every passing year.

Most of the paperwork is an attempt to address liability. For example, if a seller failed to disclose that the property was in dispute by an ex-spouse, the buyer wouldn't have to enter into a lengthy legal battle after escrow was completed. Each neighborhood has its own restrictions and rules for buyers and sellers, and it's difficult to follow them all if you're not familiar with the local codes. 

Limited Reach 

A good real estate agent knows how to pull in buyers from a number of backgrounds. Rather than relying on an Open House sign, they use everything from social media to their own networks to get more people interested in the property. They also know how to showcase the property in a way that appeals to the common buyer. For example, they might stage your home for young families rather than retirees (or vice versa). 

The truth is that FSBO is an option, it's just often not a very good one. While you may be able to successfully sell your home, the odds of making a mistake can land you in a hot water (which can ultimately end in court). 




Categories: Selling  


Posted by CENTURY 21 CUDDY on 10/28/2018

To succeed in the real estate market, a home seller must understand what it takes to promote his or her residence to potential homebuyers consistently. However, transforming this dream into a reality can be exceedingly difficult, particularly for a home seller who is listing a house for the first time.

So what does it take for a home seller to succeed in any housing market, at any time? To find out, let's consider the home seller's perspective and look at three steps that home sellers can take to get the best results during the property selling journey.

1. Examine the Housing Market

Today's housing market may change tomorrow. As such, an informed home seller must go above and beyond the call of duty to understand real estate market trends. By doing so, a home seller can map out his or her property selling journey accordingly.

Take a look at the prices of available homes that are similar to your own. That way, you can better understand how your residence stacks up against the competition.

Don't forget to check out the prices of recently sold houses in your city or town as well. With this housing market data, you can find out whether you're preparing to enter a seller's or buyer's market.

2. Perform a Home Appraisal

You might think that your home will sell just days after it reaches the real estate market. Conversely, most homebuyers might disagree, especially if you failed to maintain your house's interior and exterior over the years.

Ultimately, a home appraisal allows you to learn about your house's strengths and weaknesses. This appraisal enables a property inspector to review your home's interior and exterior. Then, the inspector will provide you with a report that you can use to see whether your residence is housing market-ready.

If you find that your home is in need of serious improvement, there is no need to worry. Instead, you can dedicate the necessary time and resources to upgrade your residence's interior and exterior before you list your house.

On the other hand, if a property inspector gives your home positive marks across the board, you may be ready to add your residence to the real estate market right away.

3. Meet with a Real Estate Agent

No home seller should be forced to enter the housing market alone. Fortunately, you can hire a real estate agent to guide you along each stage of the property selling journey.

A real estate agent understands what it takes to sell a home in any housing market – without exception. He or she will set up home showings and open houses, promote your residence to the right groups of homebuyers and negotiate with property buyers on your behalf. As a result, you can streamline the process of getting the best price for your residence.

Want to add your house to the real estate market? Now that you know all about the home seller's perspective, you should have no trouble optimizing the value of your home.







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