Deborah Ward – Page 40

Why Do Real Estate Markets Swing Between Buyers or Sellers Markets?

October 27, 2021 By Deborah Ward

Real estate markets change. Sometimes a buyer’s market, others a sellers. So why does it change? There are a lot of reason why it could.

Real estate markets swing between a buyer’s market and seller’s market. When there are a lot of houses for sale and not a lot of buyers, the buyers have the upper hand and it’s their market. When there are a few sellers and a lot of buyers, the sellers have the upper hand and it’s their market. It’s a cyclical thing and it changes from time to time.

The biggest factor in changing the market from one to another are economic factors. The perfect example of this was before, during and since the real estate bubble burst. Before, the markets everywhere were strong sellers markets. There were a lot of buyers with access to easy financing, and home values soared. Then the bubble burst. Suddenly homes weren’t worth what they had been. Financing became harder to get. While the market was bad for both buyers and sellers, buyers had an edge. For a long time it stayed a buyer’s market. Sellers were desperate to sell but there weren’t enough buyers. Now that things have improved the markets in some places have changed again. Home values are improving and sellers are again getting the upper hand.

Things like jobs can make a difference too. If a new employer moves into the area, then people come for jobs and homes become a need. If an employer leaves the area and takes jobs away, then the market switches over again.

A buyer’s and seller’s market is a fluid thing. If you are looking to sell your home, or buy one, knowing which market is hot in your area is important. Knowing what contributes to each is important as well. It can help you not only decide if now is the time to sell or buy, but whether a market change is coming.

Real Estate: Top 5 Buyer Turn Offs

October 27, 2021 By Deborah Ward

Part of selling real estate and getting your price is making it super appealing to buyers. Makes sense, but what you have to remember is that something great for you, may be a turn off for buyers. Here are some of the biggest.

Dirt and bad odors. The first and biggest turn off for buyers is dirt and odors. Of course, some people have higher definitions of “clean” than others, but you should never show a house with visible dirt. Even if it isn’t the most up to date, it better be clean. That includes smells. An obvious turn off smell is cigarette smoke. A serious, thorough cleaning, may help get rid of that, and replacing curtains, drapes and carpeting that all hold the smoke smell will help. Then take the smoking OUTSIDE!

Pet smells are next. They can be incredibly hard to get rid of, since they can seep into flooring. Other smells like cooking odors and perfumes. Make sure the house is clean and be light on perfumey air fresheners. A good way to have a great smelling home is to make toast and add cinnamon sugar to it just before your open house or private showing.

Crazy paint colors are another turn off. Color has a huge effect on mood. You can’t please every style, and sure the Realtor can tell them “so you can repaint” but who wants to move into a home and immediately have to work it? Best bet is to repaint in a neutral palette.

A messy outdoor space or a super landscaped property. This sounds like it’s a “you can’t win” situation, but there is a happy medium. A messy yard, meaning unmowed, messy gardens and kids toys or junk everywhere, turns people off before they even get inside. A very intricately manicured property screams “YOU’LL BE DOING YARD WORK ALL THE TIME!” to buyers. The amount of work to keep up with it can turn buyers off.

Weird renovation projects. Renovating is usually a good thing, but putting things in odd places, or making a room into something it obviously wasn’t supposed to be is a big turn off. If it makes a buyer see dollar signs to put it back to what it should be, they will go running in the other direction.

There are others, but concentrate on these few and your home will sell much faster!

Now That You Are Under Contract- STOP – 4 Things NOT To Do

October 27, 2021 By Deborah Ward

So you’ve successfully listed your home and now you have a buyer under contract. Congratulations! Your home is technically still yours, but there are things that you can no longer do to it with a contract in place. Buyers, you’re not off the hook either!

Sellers, first thing, unless you have an agreement with the buyers to make improvements to the home, don’t. Don’t change out high end appliances for lower end ones. They agreed to buy your home in the state it is in, and with the items and appliances in it that were included in the contract. If you wanted to keep the appliances, you should have put that in the contract. Another no-no: don’t turn off your utilities. There are several reasons for that. First, it may cause problems for the buyer to get them switched over to their name. Second, if you live in an area where winters get cold, lack of heat can cause issues with plumbing and frozen pipes. Any billing discrepancies will be handled at settlement.

Buyers, you’re not off the hook either. Some no-no’s for you too. First, don’t run out and buy appliances, furniture and all the stuff you think you need for the home. If you run up credit cards or empty your savings you could jeopardize final approval and disbursement of your mortgage. The mortgage company makes decisions about your creditworthiness based upon the amount of savings and debt at the time of application. What you may not realize is they monitor your financial activity until the mortgage is disbursed. Buying binges will change your creditworthiness. Second, stop looking at listings. You have your new home sweet home, so looking further is a waste of the Realtor’s time.

Sellers and Buyers- Being under contract is kind of a limbo. Don’t do things to jeopardize the contract and sale.

Tips to Make Your Open House a Success | Tips For Sellers

October 27, 2021 By Deborah Ward

Make your open house a success by being smart home seller! Make your house shine inside and out and you will have a successful open house and sell quickly.

You’ve listed your home and scheduled an open house. A great first step. Now get busy on making your home look great.

Start with the outside of your home. Make sure the lawn and landscaping are mowed, neat, weeded and watered. Freshen up the front door. You don’t want to turn buyers off before they even step in the door.

Once buyers get inside your home, appeal to their every sense. Start with smell. If your home smells stuffy or like pets, kiss their interest good bye. Obviously, if you live with them day in and day out, you won’t notice them. So how can you be sure? Baking! Nothing says “you’re home” like the smell of freshly baked cookies or muffins. Of course another way to make your home smell fresh is to make sure it’s clean from top to bottom. The smell of “fresh baked” will only cover so much.

Make your home light and bright. If it’s warm out open the windows to let in fresh air and sunlight. If it’s cold, open blinds and curtains to get the same effect. This is especially important in smaller rooms. If a room doesn’t get enough natural light, light lamps. Light gives the illusion of space and cleanliness.

Next, play music. Why? Music can greatly affect mood. No hard rock, or elevator music, but jazz or classical are good choices. Play it softly, in the background.

Have a fact sheet about your home. Buyers looking will have many of the same questions, such as when it was built, how old the roof and heating system is, schools, etc. Unless you want to be answering the same ones all day, a fact sheet is very handy. Also helpful if your property is family friendly, have a small area set aside for children with coloring books, crayons and small toys. That way mom and dad can look while the kids are occupied.

Stage your home. Set the table, set out flowers, light fireplaces, light candles. Rearrange furniture to make rooms look larger and less cluttered. Make sure the temperature is comfortable, and then if you live in a seasonal area, set out pictures of what your home looks like in different seasons.

Staging Your Home to Sell During the Holidays

October 27, 2021 By Deborah Ward

Staging your home inside and out this holiday season may mean the difference between selling your home before the New Year or waiting until after. Here are some staging ideas for your home this holiday season.

Staging your home means inside or out, your home must be clean! Outside, neaten up the yard, deck, porch and sidewalks. Weed and clean out planting beds. Prune trees and shrubs. Pack away bicycles, sports equipment, toys, and so forth and store them offsite. Inside, clean your home from top to bottom and declutter each room. Move excess furniture out of rooms. As you clean, inside and out, repair things that need it. Paint where necessary, caulk, and re-grout, spackle holes in walls and make things look new. Selling your home will depend on it being clean and repaired as well as staged.

Staging your home includes your garage and storage areas. Store anything you can off site. You want your yard, storage sheds, garage and closets/storage areas inside your home to be uncluttered and neat. The bigger they look the better. People buy space, especially storage space. If you are selling your home, just remember that you are going to have to pack and move anyway, so this will give you a head start.

It’s the holidays, so decorate. The key to staging with holiday decorations is to keep it tasteful. Don’t go nuts with lights and yard “ornaments” outside: no blow up Santas, snow globes or any other gaudy yard decorations. This is not the year to win the decoration contest in your neighborhood! Maybe lights on the shrubs, a wreath on the door. Another idea to make your home look attractively decorated is to find an old sled and dress it up with some greens and a bow and set it by the door. Festive, not gaudy.

Inside keep holiday decorations tasteful as well. A tree, maybe some greens on a fireplace mantel, decorated but not out of control. While Christmas and Hanukkah are religious holidays, keep these holiday decorations to a minimum. Yes, keeping true to your faith is important, but not everyone celebrates as you do.

Check on the web at places like HGTV or DIY Network for good ideas on how to decorate tastefully, but without going overly religious. Staging your home at the holidays is easy, just keep it tasteful and you’ll be selling your home in no time!

Belleair Beach Real Estate

October 27, 2021 By Deborah Ward

If you’re looking for a community that has a place for everyone to live, Belleair Beach may just be the place for you. Belleair Beach is located on a barrier island south of Sand Key and Clearwater Beach. You can find homes in the millions, or a small place just to call your own.

Belleair Beach real estate is a fun mix of huge million dollar mansions that face the Gulf of Mexico on the west side of the island. These have all the bells and whistles, top of the line updates and technology. Other homes are nice sized and located on the intracoastal waterway. They are less expensive and generally are updated and in good shape. Some may need some care and repair. Then there are even some smaller 1950’s Florida ranch houses to be found. These gems retain the old Florida charm with colorful bathrooms and Terrazzo floors. They may need some work, but the charm more than makes up for it. There’s something for everyone.

Belleair Beach had a population of 1,633 in 2020 and the median age of the residents was 58. The median household income was $84,028.00 in 2019. The median house/condo value in 2021 was $569,500.00. The median monthly rental was $2,378.00. What those statistics don’t tell you is about the personalities of the people and the beauty of the island.

That’s one thing that statistics won’t tell you about. The sunsets over the Gulf and sunrises over the intracoastal waterway. The close proximity of water means an easy beach day – no long drives or traffic hassles. Homes with a place to keep your boat are easily found.

The Deb Ward Team