Tag Archives: Chevy Chase real estate

Buying a Home This Fall?

Buying a Home This Fall?

autumn-homes

DenisTangneyJr/iStock

Buying a Home This Fall?

Spring might be the most popular time to buy a home, but there’s a real case to be made for fall: It’s cooler, so you’ll have less competition at the open houses. Because it’s considered the off-season, you’re more likely to get (or make) a deal. And, with the season’s variable weather, you can get a good idea of what the home’s like in hot and cool times alike.

After all, you’re buying a home that will fit your needs in every season—even if you can only scope it out during one.

That means you need to look for things “that aren’t as noticeable in the fall as they might be in the winter or summer months,” says Realtor® Andrea Davitt of Lauer Realty Group in Madison, WI.

Want to make sure that amazing autumnal escape continues to be fantastic year-round? Keep these six things in mind.

1. Check out the air conditioner

First: Does the place even have an air conditioner? This might be easy to spot if you’re house hunting during unseasonably warm temps. But if the weather’s already turned, heed this: The air might be cool now, but it won’t be forever. And with summer nine (long!) months away, it’s easy to forget to check.

If the home does have AC, you’ll want to give the unit a thorough inspection. Your inspector will likely examine the system to make sure it’s functioning, but it never hurts to run a few tests yourself—or even call an HVAC specialist.

Davitt recommends first checking to see if the AC’s filter has been recently changed. Then try turning down the thermostat and see if the unit runs. Meanwhile, make sure air is blowing through all the vents—it’s better to find blockages now, with time to fix them, than at the beginning of summer when sweat’s starting to pool. Check out the outdoor condenser, listening for any strange sounds, and make sure the condensation line in the evaporator coil—likely found in the furnace—is flowing smoothly. Last, examine the ductwork, looking for any rusting or poor fittings.

2. How’s the drainage?

Gutters are the obvious thing to check, Davitt says. In the interlude between the rainy and snowy seasons, don’t forget to check the drainage. In the yard, look for areas where water is accumulating in small puddles, which could indicate a leak in buried pipes or grading problems that need to be addressed before the rainy season.

If it looks like the sewer might be clogged, bring out a professional sewer inspector to do a camera inspection of the line. That can reveal problems that could cause a backup—as well as a world’s worth of annoyances later. Better to know before you buy.

3. Note the surroundings

What’s nearby? Look across the street, behind you, and next door. Are there bulldozers and cranes? Empty lots awaiting brand spankin’ new homes? Ask your neighbors about seasonal street construction nearby—there’s nothing worse than having a peaceful, quiet home all winter until work begins with a literal bang in the spring.

Double up on the investigative work if you’re near a large intersection, or if your home is directly connected to a major road. Going door to door is not only a good way to meet your future neighbors—it’s also a novel way to find out what seasonal surprises lay ahead.

4. Look for slopes

How steep is your driveway? Sure, it’s easy to navigate now—but will it be when it’s covered in ice?

A less-than-ideal driveway shouldn’t automatically disqualify a home, but it’s better to know in advance if late-winter parking is going to be a challenge.

Similarly, Davitt recommends checking out the landscaping’s pitch around your new home’s exterior. Are there any steep hills that might cause water runoff and flooding? What about the area around your basement? If land slopes toward your basement, it could indicate potential flooding.

5. Check out standing water

At the end of the summer, we’re all just happy that the mosquitoes have died or moved on to bother poor souls elsewhere. But they’ll be back—and you should know in advance where they’ll be hanging out.

“We’ll look for anything that holds standing water,” Davitt says.

Most of these are movable: trash cans, buckets, birdbaths. But if your home is located on a lake or small pond, there’s not a whole lot you can do besides prepare yourself mentally and invest in bug spray and citronella.

If you’re buying in fall or winter, when bugs are hiding, keep in mind the potential ramifications of living on the water.

6. Examine the windows

If the windows in your potential home are older (or don’t even open), you’ll want to replace them immediately—otherwise you risk wasting energy or even breaking them in a freeze.

But if winter is coming quickly, there might not be time. In those cases, Davitt recommends putting plastic over the windows until you’re in a position to replace them.

Will you need storm windows? Find out in advance.

“If you’ve only lived in an apartment, you don’t know you have to change out your screens,” Davitt says.

That can be an added expense and stressor, and one that’s better to know in advance.

Don’t let fall’s peaceful, chilly weather lull you into a false sense of security. When you’re buying a home, examine everything that can go wrong—even if the rainy winter or spring seem far away.

By
Jamie Wiebe Realtor.com

 

11053371_383914575115047_8548886157930102220_nTracy Tkac Evers & Co Real Estate 301-437-8722

 

Price Your Home Right

 

 

oak1Price Your Home Right

In a strong market, if a home is priced right and shows well, it should sell within the first six weeks. If it doesn’t, many sellers become frustrated, especially if their agent begins pushing for a price reduction. The seller may think the agent just wants a quick sale, but the agent sincerely wants to help the seller get action. Agents understand that a listing loses momentum and excitement soon after being listed. Buyers will think of a home as stale, tired, or flawed if it sits on the market too long. Agents and buyers alike will view the stale listing as a problem home- and wonder why it has sat and often will be overlooked and not shown. It is important to price your home right for your best financial outcome.

If your home is not generating offers, there are ways to get more action.

Home Condition, Updates and Price

You can’t change your home’s location, but you do have some control over the other two important buyer considerations. If the home is still sitting on the market after a couple of months, and especially if it has had no showings or offers, you need to look at the price and the condition.  The most activity a new listing will receive happens in the first two weeks, and sellers are likely to get the best price at that time.

You have two big choices to make if you are ready to sell. The first is to take the home off the market and make some changes, such as more staging, de-cluttering, and altering the look of the kitchens and bathrooms.

If you are unwilling or unable to make the needed changes to the home, the other option is to reduce the price. Even if your house is the absolute best home in the neighborhood but the setting is not private or on a busy road , the only option will be to drop the price.

Make sure you and your agent are on the same page

Your agent is a professional and has experience and knowledge that will benefit you, however, you are the home owner and all decisions are ultimately yours. If you and your agent don’t see eye-to-eye on the pricing or sales strategy prior to listing, it might be time to find another agent. While it is your job to prepare your home for the day it becomes “active” on the listing service and internet, it is the agents job to be completely prepared as well. Your agent should be very clear about the service and timeline you should expect. The agent should research and the homework regarding  sold homes prices, days on market for similar homes and the difference in upgrades, updates and condition between your home and others that are on the market now or have recently sold. You should be consulted on when your home will be photographed, what marketing will be done and where it will appear, open houses, brochures, and plans for the sign post. Your agent should diligently follow up will all agents who have showed the house and all interested parties.

Discuss your intentions and plan with your agent upfront, and listen to her feedback. Reducing the listed price may be necessary- but you will have to see firsthand how the market works in your neighborhood. Listen to the feedback your agent is gathering and reporting to you, and take action to address repeated criticisms.

It is so important to work with an agent who is understands the area market and will work with your strategy and can help you adapt to sell your home for the best price.

By Tracy Tkac

11053371_383914575115047_8548886157930102220_n

No Cost Staging Tips

No Cost Staging Tips

There are several steps you can take to stage your home for sale — and many of them don’t cost a dime. Here are five No Cost Staging Tips you can do to prepare your home to sell.

Clean, clean, clean

Sparkling counters and appliances go a long way in home for sale.

The number one thing people think about while in a home is whether or not they believe it is clean. A home that is absolutely pristine presents as well cared for.

Clean all windows inside and out. Dust all door frames, light fixtures, ceiling fans and blinds. Don’t leave a single spot in your home untouched. Potential buyers look everywhere, so make sure the entire home is clean.

Depersonalize the house

Just furnish the room with the absolute minimum items. Source: Zillow Digs.

Pack up almost all personal photos and family keepsakes. If you have a great photo of your family enjoying a camping trip or other family activity, you can leave it out on display if your home is being marketed to families. This one family photo plants a seed of happiness in a buyer’s mind, making them think how happy their own family could be living in the home.

All other photos, portraits and keepsakes must be packed away out of view — and ideally, stored outside the home. In general, family photos and keepsakes draw a buyer’s attention to your family and keep them from seeing your home as their potential home.

You’re not selling the family, you’re selling the house — so always let that be the center of attention.

Pack — and pack some more

You could probably live comfortably for a short time with about half the things you own, especially if you have lived in your home for more than a few years. We all tend to collect things. Whether we use them or not doesn’t matter, but what does matter is showcasing the space your home has to offer potential buyers. You cannot showcase rooms that are full of stuff — especially too much furniture.

Pack up as much as you can live without, then store it offsite if possible. Store packed boxes and extra furniture neatly away from living spaces no matter what. If you have to store items in the garage, make certain you leave enough room for a car.

Manicure outdoor spaces

Even if the yard is simple, cut grass and clean pathways make an impact. Source: Zillow Digs.

Outdoor living is now a part of everyday life for most of us. Potential buyers will absolutely consider the outdoor spaces as critically as they do indoor spaces. If you don’t have the budget to freshen the landscape with flowers and decorative items, you can still make sure the yard is perfectly manicured.

Keep your yard watered, and cut grass to approximately 3 inches high. Any shorter takes away from the fresh green look, and any longer starts to look unkempt.

Foliage should be very neat and properly shaped to match your neighborhood. Trim the trees so that a 6-foot-tall person can easily pass under them. This makes the trees appear taller, and gives the yard a clean, tidy look.

Power wash the sidewalk, patio, deck, driveway and fence. You will be amazed what a difference this will make in the look of your home.

Lighten up

Turn on the lights and open the shades. Source: Zillow Digs.

When showing or photographing your home for potential buyers, open every blind and curtain in your home, and turn on every light. Even the lights over the stove and inside the oven should be on. (Remember, the appliances are pristine — they need to be shown off!)

Buyers are looking for “light and bright,” not “dark and dreary,” so give them light. Help them see how clean and well cared for your home is. Don’t be afraid to move a lamp to brighten up a space if you need to. Let there be light — and lots and lots of it.

It can be a lot of work getting your house ready to sell. Even with no staging budget, you can still take the time to make a few changes that will have a profound impact on your home sale.

By Lori Livers

Pricing Your Home To Sell

Pricing Your Home To Sell

For The Most Money Possible In The Shortest Time Frame

      GetMedia-46

 

By Tracy Tkac

Evers & Co.

www.washingtonhg.com

 

The single most important factor to consider when selling a house is pricing the house correctly; it’s choosing the right list price: how much your house is worth. Over pricing the house will cause it to sit on the market and lose the freshness of the home’s appeal after the first two to three weeks of showings. After a month on the market, demand and interest can wane and after that a listing can become stale to potential buyers. It is a tough concept, because no one wants to chance leaving money on the table, but pricing the home just below fair market value will often cause a seller to receive multiple offers, which will then drive up the price to market price or above. Pricing is all about supply and demand. It’s part art and part science. Beware of the realtor that advises a list price way above the range of sold home prices in your neighborhood, choosing to list with that agent may be setting you up for the delay or even failure to sell your home.

 

Pricing your home to sell may not be as simple as you think. Looking at what similar homes in your immediate neighborhood that have sold for in the past 6 months to a year will give you some, but not all of the data you will need to calculate the list price. It is important to compare apples to apples when looking at the comparable recently sold homes. Compare and consider not just how many bedrooms or bathrooms, but also is the basement finished, is the yard nicely landscaped, how many garage spaces are offered? Look at homes’ sizes (square feet), style, condition and if updates and renovations have been done. A good real estate professional will format all of the information for you and help you to make the comparisons to come to the right listing price that will get you the most money possible for your home sale.

 

Using a real estate professional can save you money in the end by helping in pricing your home to sell quickly and for the best sale price. A good agent will assess what improvements should be made prior to putting your house on the market. Many times the first step is to de-clutter; when selling your home, the less-is-more concept is the way to go. Your agent should be honest and direct in telling you what needs painting and repair or replacing before making your listing “active on the market”. You only have one chance to make a good impression, and that goes for the list price and your homes presentation.

 

New Mortgage Rules

Some Builders Like New Mortgage Rules, But Toll Calls Them “Dumb

A Pulte home being built in Phoenix.
Getty Images

Some home builders are heralding federal regulators’ move this week to ease mortgage-qualification standards  as a key to reviving the entry-level market but at least one is panning it as a return to dangerous lending.

The Federal Housing Finance Agency indicated this week it will expand mortgage availability with changes such as allowing borrowers to make a down payment of 3% of a loan’s value rather than the typical 20% for a high-quality mortgage.

On Thursday, two national builders reporting quarterly results touted the change as key to bringing first-time buyers back into the market. First-time buyers accounted for an average of 29% of new home sales from 2001 to 2011, according to the National Association of Home Builders. But this year that figure has dropped to an estimated 16% , because of tepid job and wage growth, mounting student debt and tight lending standards.

“I don’t think anybody is a proponent for going back to what happened in 2006 or 2007 at all, but a little common sense goes a long way,” said Larry Nicholson, chief executive of builder Ryland Group Inc., in a conference call with investors Thursday, adding, “I do think it helps the entry-level buyer with the 97% (loan-to-value) program. I think that will get some people off the fence.”

Richard Dugas, CEO of builder PulteGroup Inc., called the proposed changes “a positive statement” during his quarterly conference call with investors on Thursday. “Over time, as some of these ideas get put into practice, it certainly has the potential to affect activity, particularly for the entry-level category,” Mr. Dugas said.

But a different view was expressed Wednesday by Robert Toll, founder and executive chairman of luxury home builder Toll Brothers Inc., during remarks at a Urban Land Institute conferencein New York. He called the proposed loosening of credit standards “a really dumb-ass idea.”

“Yeah, we have a slow recovery, but it appears to be going to continue,” Mr. Toll said, adding, “Why do we want to go do what got us into this problem in the first place? … Three percent down doesn’t make any sense.”

Mr. Toll concluded that lenders have required a 20% down payment on top-rated mortgages for decades “and we had a hell of a housing program.”

Mr. Toll has a little less at risk than do other homebuilders. His company caters to affluent buyers, selling homes at an average price of $717,000. Pulte and Ryland, by contrast, serve more entry-level buyers than Toll, though they sell to others as well.

Quarterly results released by Pulte and Ryland on Thursday reflected a new-home market that remains stuck between neutral and slow growth. Pulte reported inking 3,779 sales contracts in its third quarter, flat from the year-ago period when analysts expected a gain of 5%. Ryland posted a 7.2% increase in orders to 1,707 when analysts expected a double-digit gain.

Ryland’s average selling price registered $331,000, up 11.1% from a year earlier after gains in the high teen percentages earlier in 2014, according to Raymond James & Associates analyst Buck Horne.

Toll, for its part, reported in September a 6% decline in orders in its latest quarter, which ended July 31.

Why Use A Real Estate Agent?

Why Use A Real Estate Agent? The road to homeownership can be bumpy, and it’s often filled with unexpected turns and detours. That’s why it makes sense to have a real estate pro help guide the way.

According to the National Association of Realtors 2013 Profile of Home Buyers and Sellers, 88 percent of buyers purchase their homes through real estate agents or brokers. That reliance on real estate professionals has steadily increased from 69 percent in 2001.

While real estate websites and mobile apps can help you identify houses you may be interested in, an experienced agent does much more.

Real estate agents:

1. Guide. Before you tour your first home, your agent will take time to learn more about your wants, needs, preferences, budget and motivation. A good real estate agent will help you narrow your search and identify your priorities.

2. Educate. You should expect your agent to provide data on the local home market and comparable sales. The home-buying process can be complicated. A good agent will explain the steps involved – in a manner that makes them understandable – and provide counsel along the way.

3. Network. An agent who is familiar with your target neighborhoods will often know about homes that are for sale – even before they’re officially listed. Experienced agents tend to know other agents in the area and have good working relationships with them; this can lead to smooth transactions. Your agent may also be able to refer you to trusted professionals including lenders, home inspectors and contractors.

4. Advocate. When you work with a buyer’s agent, their fiduciary responsibility is to you. That means you have an expert who is looking out for your best financial interests, an expert who’s contractually bound to do everything in their power to protect you. If you find yourself in a situation where the same agent represents both the buyer and seller, things can get trickier, advises Scottsdale, Arizona-based real estate agent Dru Bloomfield.

“A lot of people think they’ll get a lower price by going straight to the listing agent, but that’s always not true,” she says. “If I was representing both the buyer and seller, I’d be hard-pressed to take a low-ball offer to the seller. But, as a buyer’s agent I’d do it, because I have no emotional ties or fiduciary responsibility to the seller. Buyers should work with an agent who can fully represent them.”

5. Negotiate. Your agent will handle the details of the negotiation process, including the preparation of all necessary offer and counteroffer forms. Once your inspection is done, the agent can also help you negotiate for repairs. Even the most reasonable consumers can become distraught when battling over repair requests; an agent can do “the ask” without becoming overly emotional.

6. Manage minutia. The paperwork that goes along with a real estate transaction can be exhaustive. If you forget to initial a clause or check a box, all those documents will need to be resubmitted. A good real estate agent understands the associated deadlines and details and can help you navigate these complex documents.

7. Look out. Any number of pitfalls can kill a deal as it inches toward closing; perhaps the title of the house isn’t clear, the lender hasn’t met the financing deadline or the seller has failed to disclose a plumbing problem. An experienced real estate agent knows to watch for trouble before it’s too late, and can skillfully deal with challenges as they arise.

Professional real estate agents do so much more than drive clients around to look at homes. Find an agent you trust and with whom you feel comfortable working; you’re sure to benefit from their experience, knowledge of the local market and negotiation skills.

MN-AG739_CLUBHO_D_20140729163743

Your home: It pays to keep up with the Joneses

Your home: It pays to keep up with the Joneses

By Amanda Gengler  @Money

houseLetting your house slip behind your neighbors’ could lower your home value and cost you when you sel
(Money Magazine)

Is your home the neighborhood slacker? If you’ve lived there for years without making many improvements, there’s a good chance your house is starting to fall out of sync with the others on your block.

“You never want to exceed the neighborhood norm, but you definitely want to stay up with it,” says John Bredemeyer, an appraiser in Omaha.

Must-haves and deal breakers
Home shoppers have strong opinions about what they do — and don’t — want in a house.
BUYERS WHO WANT
Laundry room 93%
Bathroom linen closet 90%
Eat-in kitchen 85%
BUYERS WHO DON’T WANT
Wine fridge 42%
Game room 31%
Outdoor kitchen 31%
Source: National Association of Home Builders, 2013
.

Bringing your home up to speed doesn’t have to mean a massive, six-figure renovation. Small-scale projects that address some typical flaws of older homes can do double duty: They’ll make your home more attractive when it’s time to sell, and turn it into a more comfortable place for you to live.

These three upgrades all cost $5,000 or less.

Expand your closets. Homes built before the mid-1970s often share a frustrating problem: nowhere to put stuff. Small, one-rod closets are a prime offender and a big turnoff for buyers, says Rockaway, N.J., realtor Ellen Klein. Make the most of these spaces by installing an organizing system equipped with additional rods, shelves, baskets, and more, available at big-box home stores (starting at $50 per closet). For those who would prefer to use a pro, firms like California Closets handle the installation, starting at $500 or so.

Calculator: Was my home a good investment?

Look for places to add closets or other storage areas. Building a closet into the existing footprint of a room usually costs less than $2,000. If you have a bedroom with a centered window, Jason Gettum, a design and remodeling contractor in Indianapolis, suggests installing a closet on each side and creating a window seat between them.

No extra room in the bedroom? You may be able to break through the wall into a smaller room or an unused space that can be converted into a closet. Expect to spend at least $2,500.

Open up the kitchen. Today’s kitchens serve as a favorite spot for families and guests to congregate, but that hasn’t always been the case. “Previously the only thing that happened in kitchens was cooking,” says Bredemeyer, noting that in older homes the room is often small and closed off.

Related: Cut the cost of home maintenance

Say you’re already planning to renovate or at least freshen up your kitchen with new countertops or appliances; you may want to expand the project to include removing the wall between the kitchen and dining or living area.

Assuming you don’t need to move pipes or build new structural support, the removal will most likely add $2,000 to $5,000, including the cost of refinishing the affected floor, ceiling, and walls.

Some kitchens may already have an opening into the next room, often created by a “peninsula” countertop that extends from one wall. But when this area is lined with overhead cabinets, the room can still feel boxed in. Having these cupboards removed is relatively simple and should cost only $500 to $1,000. Worried about losing storage space? Max out your remaining cabinets by installing dividers or roll-out drawers, says Bredemeyer.

Spring Storage Solutions

Biggest Home Organization Trends

Spring is here, which means it’s time to get organized. This season, homeowners are spending less on big projects and are focusing on smaller-scale home renovation plans. According to the latest Zillow Digs Home Design Trend Report, built-in cabinets, cubbies with baskets or trays and repurposed antique furniture are the biggest home organization trends.

Call Washington Homes Group for home staging and decluttering ideas www.washingtonhg.com  202-719-0078.

To learn more about this season’s hottest storage trends, we asked Zillow Digs Board of Designersmember and design expert Mara Miller of Carrier & Company Interiors in New York to help solve three spring storage myths. Check out her surprising tips below.

Myth No. 1: Built-ins have to be custom

builtin 3

Photo credit: J. Schwartz, LLC Remodeling

The Reality: Save your dollars for other remodels. You can find great premade options at hardware stores that when painted can look just as beautiful as a custom built-in.

Mara reminds homeowners not to reinvent the wheel when installing built-ins. Instead, Mara recommends that remodelers “look at the simplest stock options available” that will give you a custom look without breaking the bank. Your local hardware store is a great place for premade cabinets or mass-cut wood pieces for built-ins. “Try painting the wood to match your trim or molding color to make the unit look as if it’s always been there,” says Mara.

Myth 2: Cubbies and open shelves don’t offer adequate storage space

cubbies

Photo credit: California Closets

The Reality: Cubbies and open shelves offer great storage space, just be sure to select quality storage containers

Cubbies provide ample storage; just make sure to choose your storage containers carefully.  “Selecting your accessories are often more important than the furniture themselves,” says Mara. Maximize storage with beautiful trays and baskets, which are perfect for those less visually appealing items such as electronics or other knick knacks. Be sure to “shop around for good containers that are attractive in and of themselves,” advises Mara, as open shelves and cubbies leave little to the imagination.

Myth 3: I need to invest time and money in refurbishing antiques

antique

Photo credit: Design Development NYC

The Reality: Don’t invest in a complete overhaul. Antiques are supposed to look vintage, that’s what makes them unique.  

“Fully refurbishing an antique is when you do the most damage,” says Mara. In general, it’s best to do less, not more when working with antiques. You can maximize storage by adding in shelves or rods for linens and coats. But be conscious of the “furniture’s age and history – it’s not supposed to be modern and shiny,” reminds Mara. The more character the better!

AUTHOR:

Buying in a Competitive Real Estate Market

Buying in a Competitive Real Estate Market 

GetMedia-57

 

 

 

 

 

 

 

By Tracy Tkac

Washington Homes Group

www.WashingtonHG.com

 

The Washington, DC area housing market is quite competitive right now due to lack of inventory and pent up demand. Home sellers located in the closer-in communities to the city and many homes located in the city are receiving multiple offers for the sale of their home.

Preparation is the key to submitting the winning offer for your new home and buying in a competitive real estate market.

The components to a successful offer to purchase include;

  • Contract of Sale (including buyer signed disclosures provided by the seller)
  • Preapproval Letter
  • Financial Information Sheet
  • Earnest Money Deposit
  • (Possibly) Escalation Clause

 

Get Preapproved

Getting preapproved is a must when you’re in a competitive real estate market. Sellers look for the most qualified (and most likely to complete the sale) buyer. Not having a preapproval will severely hinder your ability to move quickly and make an offer when you find the house you would like to own.

 

Work with an Experienced Buyer’s Agent

Most people think that working directly with the listing agent will give them an edge in getting a property, but this isn’t the case because listing agents have a fiduciary duty to the seller. You wouldn’t think of going to court and relying on the opposition’s lawyer for advice. Buyer’s agents work for the best interests of the buyer; a buyer’s agent will guide you in locating the property and strategizing and negotiating the terms of purchase for your best result in purchasing your home and if a property is listed in the multiple listing system, the commission is paid by the. seller.

 

Go ASAP

If you’re interested in a property, you need to be there within 24 to 48 hours of the time it hits the market. If you’ve seen the house and you’re ready to buy, you should make your offer as soon as possible.

 

Make Your Offer Appealing

When there is competition for a single property, your offer has to be impressive.

Come in with your highest and best offer. Make an offer that is at least at market value, if not more. Consider using an escalation clause, which is a tool that makes your offer price increase to an amount predetermined by you in increments called “the escalator”, the sales price could escalate by those increments to the escalation ceiling; the top price you are willing to pay. It will only come into play if the completing offer(s) are higher than your original offer and the listing agent will have to prove the offering prices by sharing them with your agent and you before utilizing the escalating clause. 

Let the seller know you’re flexible.  Give the seller some appealing terms like; flexibility of occupancy, shortened inspection periods and the settlement date of the seller’s choice.

Don’t ask for seller concessions. 

Keep in mind that these tips don’t necessarily apply to all homes. Whether it’s due to the property, the pricing, or the area you’re interested in, some homes might not have as much competition. If you’re educated about the market, however, you’ll be able to spot when there’s competition and when there isn’t, and that can make all the difference in how you approach the sale.

Pricing Your Home To Sell

Pricing Your Home To Sell

For The Most Money Possible In The Shortest Time Frame

      GetMedia-46

 

By Tracy Tkac

Washington Homes Group

Evers & Co.

www.washingtonhg.com

 

The single most important factor to consider when selling a house is pricing the house correctly; it’s choosing the right list price: how much your house is worth. Over pricing the house will cause it to sit on the market and lose the freshness of the home’s appeal after the first two to three weeks of showings. After a month on the market, demand and interest can wane and after that a listing can become stale to potential buyers. It is a tough concept, because no one wants to chance leaving money on the table, but pricing the home just below fair market value will often cause a seller to receive multiple offers, which will then drive up the price to market price or above. Pricing is all about supply and demand. It’s part art and part science. Beware of the realtor that advises a list price way above the range of sold home prices in your neighborhood, choosing to list with that agent may be setting you up for the delay or even failure to sell your home.

 

Pricing your home to sell may not be as simple as you think. Looking at what similar homes in your immediate neighborhood that have sold for in the past 6 months to a year will give you some, but not all of the data you will need to calculate the list price. It is important to compare apples to apples when looking at the comparable recently sold homes. Compare and consider not just how many bedrooms or bathrooms, but also is the basement finished, is the yard nicely landscaped, how many garage spaces are offered? Look at homes’ sizes (square feet), style, condition and if updates and renovations have been done. A good real estate professional will format all of the information for you and help you to make the comparisons to come to the right listing price that will get you the most money possible for your home sale.

 

Using a real estate professional, like Washington Homes Group, can save you money in the end by helping in pricing your home to sell quickly and for the best sale price. A good agent or even better- a good team, will assess what improvements should be made prior to putting your house on the market. Many times the first step is to de-clutter; when selling your home, the less-is-more concept is the way to go. Your agent should be honest and direct in telling you what needs painting and repair or replacing before making your listing “active on the market”. You only have one chance to make a good impression, and that goes for the list price and your homes presentation.

 

 

 

 

301-437-8722/ 202-364-1700 Real Estate Professional Licensed in Maryland, Virginia & Washington, DC