Posted by Peggy Farber on 10/28/2015

What do buyers want in a home? Is it location? Is it size? Could it be an endless list of amenities ? According to a survey done by The National Association of Homebuilders, they want all of the above. According to the survey, buyers say they want a home that is approximately 2,000 square feet. Unfortunately, only one-third of the current homes on the market have 2,000 or more square feet of livable space. Most homes are nearly 40 years old and don't have many of the amenities buyers want. So what is a seller to do? If your home is smaller than what most buyers want, play up on your homes good points. Here are some other features buyers want that could help overcome the objection to the homes smaller square footage. Location: Buyers may consider a smaller home if it's located in the best school district or in a great commuter location. Possibilities: A smaller home may have potential for expansion, making the home suddenly more appealing. Great space: The home may not have the square footage buyers want, so show off the space it does have. Remove any furniture that doesn't complement the home, making the home seem spacious and uncluttered. If your home is smaller than what many buyers want, emphasize the amenities that it does have. Help buyers see the potential in your home. Don't let them rule it out just because its current condition doesn't meet all of their needs.    





Posted by Peggy Farber on 10/7/2015

Are you looking for inexpensive ways to add value to your home without breaking the bank? Whether you're getting ready to sell your home or just making some home improvements for your own enjoyment, it isn't that difficult. There is an old saying that kitchens and baths sell homes so these tips focus on those two rooms. Here are some good strategies to help you started: The kitchen For just a few hundred dollars: -Replace the kitchen faucet -Add new cabinet door handles -Update old lighting fixtures   With a slightly larger budget: -Give the cabinets a makeover by refacing them -Get a facelift for your appliances buy ordering new doors or face panels for them   The bath -Replace the toilet seat -Add a new pedestal sink -Replace the old bathroom floor with easy-to-apply vinyl tiles -Re-grout the tile and replace any chipped tiles in the tub and shower -If a new grout job won't do, try a complete cover-up with a prefabricated tub and shower unit Remember the actual cost of the renovation, and the value it adds to your home, depends on many factors including the real estate market value in your area.





Posted by Peggy Farber on 8/5/2015

If you are looking for ways to increase the value of your home, then there are some simple guidelines to follow, as well as a few projects you may want to consider avoiding altogether.  Depending on the region, a particular home remodel has the potential to make or break a potential sale. Swimming Pools - Homes with swimming pools generally do better in the warmer states, where they can be seen as a welcome addition during the hottest months.  However, a home in New England that has a pool is increasingly likely to be viewed as a headache.  Maintenance costs, family safety, and seasonal accessibility make this addition one that is in reality more likely to hurt the chances of being able to sell your home quickly.  Not to say that you shouldn't have a pool if you have your heart set on it.  Just don't count on it making your house more appealing.  If you already have a pool, then try to sell your home in the spring or summer, when the pool is in use.  This will help potential buyers see the benefit of the addition, without reminding them of the headaches associated with upkeep. Koi ponds and indoor aquariums - These items, while beloved to a homeowner, may turn off a buyer who isn't interested in being a pet owner.  There aren't a lot of uses for an aquarium installed in a wall for someone who doesn't like the idea of having fish.  Similarly, koi ponds on the property have the capability of turning off an owner that doesn't necessarily want to have a portion of their backyard dedicated to a project that they have no interest in taking over. Converting garages and second bedrooms - While these renovations generally arise from necessity, they can hurt your resale value in the future.  Garage space is fairly desirable these days, and especially so in cold climates that deal with large amount of snow.  Converting a garage in New England isn't generally a good idea unless you absolutely need the space.  This is also true in the cases of converting second and third bedrooms into office spaces.  While a new buyer may consider at a later date to convert an extra bedroom into an office space, they may not want to have the option forced on them.  Most of the time, a two-bedroom house with an office will remain on the market longer than a three-bedroom house. Fireplaces - They can be beautiful, yes, but fireplaces are quickly falling out of favor with buyers, and are increasingly being seen as a messy addition to a home.  In 2009, a consumer preference survey from the Nation Association of Home Builders ranked fireplaces as No. 1 on a list of what NAR called “Home Fads That Are Falling Out of Style.”  Not to say that fireplaces don't have a market.  Many people are still looking for homes that contain one or even two.  But installing a fireplace in an existing home can be very expensive, and the return on your investment wouldn't be that great.





Posted by Peggy Farber on 3/4/2015

If you are a seller, you need to know how buyers think. A study by the National Association of Realtors asked buyers who they are, why they need to buy, and what would make them buy. Here is just a few highlights from that study which provides detailed insight into the home buyer's experience with this important transaction. Here are highlights from that report.

  • Sixty-six percent of recent home buyers were married couples—the highest share since 2001.
  • For forty-two percent of home buyers, the first step in the home-buying process was looking online for properties. While fourteen percent of home buyers first looked online for information on the complete home buying process.
  • The use of the Internet in the home search process rose slightly to ninety-two percent.
  • The typical home buyer searched for 12 weeks and viewed 10 homes.
  • Eighty-eight percent of buyers purchased their home through a real estate agent or broker. This share steadily increased from sixty-nine percent in 2001.
  • Eighty-eight percent of sellers were assisted by a real estate agent when selling their home.
  • Two-thirds of home sellers only contacted one agent before selecting the one to assist with their home sale.
  • The share of home sellers who sold their home without the assistance of a real estate agent was nine percent. Forty percent knew the buyer prior to home purchase.
 





Posted by Peggy Farber on 2/25/2015

Why isn't your house selling? It may not be the market, instead it could be what you are or are not doing. Believe it or not you can ruin your chances of selling your home. So, how can you capture the attention of potential buyers? Read on to find out if you are making any of these mistakes. Missing or Bad Photos Buyers love to look at photos. They love to look at lots of photos so include lots of photos in your online listings. There is such a thing as a bad photo though. Pictures of unattractive rooms, toilets and messy areas can also turn a buyer off. Make sure every photo has great light, shows off your home and shows a neat and clean home. Place the best shots at the beginning so it is the first thing the buyer sees on the listing site. Lack of Curb Appeal Most buyers will search for homes online and then jump in the car and drive by. If your home has bad curb appeal they may eliminate it before they even walk through the front door. Be sure to create curb appeal by trimming the trees, fertilizing the lawn, and sprucing up the landscaping. Remember first impressions mean a lot. Bad Advertising The words that advertise your home are vitally important. Avoid clichés and instead use your creativity and talk about the best features of your home. You only have so much space for text so make it count! Price Too Low/High Pricing a home too high won't produce an offer, but sometimes pricing it too low leaves buyers wondering what is wrong. Use a real estate professional to help you strategically price your home to sell in the current market. You're Hovering When potential buyers are looking at your home there is nothing more awkward than finding the homeowner is still there. Buyers can't picture the home as their own if you are there. When the house is being shown make sure you are not home. There are things in your control in the selling process of your home. Take the time to make sure your home is staged and looks ready to sell and avoid the above mistakes and you should have a sold sign in no time.