Realtor Tips – Page 27

Why Using Zillow or Trulia for Your Home Search Could End in Heartache

October 27, 2021 By Deborah Ward

The common “wisdom” these days is that everyone searches for their new home online. Sites like Zillow or Trulia make your home search a snap. Easy to use websites and even apps for your smartphone. Mortgage payment estimates right by the listing. Now you just know you can afford that dream home. So if it’s so easy, why not? Why not indeed.

First, Zillow and Trulia are now the same company. Realtor.com has become so expensive that many Realtors don’t use it. There are other reasons why many Realtors are opting out of national sites, reasons that confuse buyers and hurt sellers.

First, none of those sites are part of the Multiple Listing Service (MLS). MLS is the most up to date place for any and all real estate listings. The Zillow/Trulia/Realtor.com listings (or “aggregator sites”) get their information from other websites or by what is input by homeowners or other agents. The problem with that is that listings on them are often out of date. A property may sell or the listing expire, or a pricing change in a property happens and the aggregate listings are not updated.

Another problem? Aggregate sites allow any agent who is willing to pay a fee have their name and photo appear next to any listing in a given region. The prospective buyer may think they are the listing agent, when in reality they know little to nothing about it.

More things that are inaccurate on the aggregate sites? Wrong pictures with listings, duplicate listings with different prices and agents listed. Speaking of pricing, those fabulous tools to figure out if you can afford that fabulous home? Often very wrong.

Finding a house to buy and make a home means setting your heart on it. Relying on aggregate sites, instead of starting your search with a local agent who knows the area, issues and homes for sale will lead to heartache, not home buying bliss.

What Does It Cost To Sell Your Home?

October 27, 2021 By Deborah Ward

So you think you’ll walk away from the sale of your home with a fat check? Yes, but it’s probably not going to be as fat as you think once the costs of the sale are deducted or counted against the amount written. Knowing what the cost to sell your home is and how it will impact your final bottom line can also give you the information you need to lower those costs where you can.

Getting ready to sell

Before you list you’ll have to spend money to get it ready to sell. Spend on things like paint, cleaning supplies and storage for all your extra stuff after you declutter the home.

These expenses don’t have to be high, but if you are advised by your Realtor that you should do some updates to kitchens and/or baths, those expenses could rise into the tens of thousands of dollars.

Pet expenses, etc.

Once it’s listed, there are other expenses that you may not expect. Do you have a pet? That could be a problem for people looking at your home.

If it’s a cat or dog you may have to kennel them or pay a pet sitter to take them from the house for showings, or for the time it takes to sell. And when you have to be away for showings, remember that unless you have other errands to run, eating out is often the choice.

So now you have your contract. The costs keep on coming. Here’s what you have to look forward to:

Realtor’s commission: Your agent charges a commission in the form of a percentage of the sale price. This commission percentage is usually 6%, could be lower, could be higher, but let’s say you sell for $250,000.00 a 6% commission will cost you $15,000.00.

Transfer taxes: The state, county and/or municipality will charge taxes or “stamps” for the transfer of the property. Depending on how many charge it, it can range from 0.01% to 2% of the sales price.

And don’t forget that if you’ve sold a property before and realized a profit on it you’ll owe the federal and state tax authorities money on for capital gains taxes. Those will be due at tax time, but be sure to provision for it.

Don’t forget your mortgage payoff and moving costs!

Please Cut Down That “Must Have” List A Little

October 27, 2021 By Deborah Ward

Every buyer has them. You know, the “must have” list. Since people started buying homes there has been one. The problem now? The “must have” list is out of control. What do I mean by out of control?

Please Cut Down That "Must Have" List A Little Well when people used to look for their first home, their “wish list” often consisted of a home with 2 or 3 bedrooms, a bath or two and a particular size piece of property. If it was in good shape, great!

But it wasn’t expected to be perfect and top of the line. The expectation used to be that you would move in and start to do small projects to update or make the space your own.

Those days are long gone

With the advent of networks on cable like HGTV and DIY Network, the expectations of home buyers has been jettisoned to the sometimes ridiculous. Just turn on a show like HGTV’s House Hunters and listen to what new home buyers expect to find in their first home.

The typical “must have” list now includes things like granite counters in kitchens and baths, top of the line appliances, open concept with no beams, hardwood floors, en suites, upscale laundry rooms, outdoor entertainment space, huge closets and more rooms than a couple could need even if they had a child or two.

Why all these demands?

There are probably a lot of reasons why this expectation of living is part of the new home buyer’s demands, but some of it can be directly traced back to home networks. They make it look normal to have those amenities. In reality most homes don’t have those top of the line amenities. It takes a lot of money to add them and the average homeowner needs to be more worried with systems, roofs and making mortgage payments!

So, first time home buyer, lower your standards! Make your “wish list” within reason and you will find that home that fits you at a price you can afford.

5 Tips To Attract Out Of State Buyers For Your Home Sale

October 27, 2021 By Deborah Ward

If you have to move away before you can sell your home, some unique problems may crop up! Find a Realtor who is used to working with out of state sellers.

It happens. You get transferred to a new position out of state and have to move, or move away for whatever reason. In a perfect world you would have time to sell your home before having to move away. Well, the world isn’t perfect and sometimes you have to move before you can sell. So here are some tips to make your sale the best it can be from states away.

First and most important, carefully hire a Realtor to assist you. It would be incredibly hard to clean, stage, show and sell your home yourself from so far away. Choosing the best Realtor to help you will mean you will hire someone who will show and market the home, hire contractors to handle upgrades and repairs, and ensure that there is a smooth sale of your home.

Be sure that you personally interview Realtors for the best fit. Choose one who has a great track record for sales and getting the best price, who communicates well and is comfortable with how you communicate (I.e. phone, text, email) and has a good reputation in the community.

Next, be sure to price the home correctly. Trust your Realtor to understand the market, the neighborhood and the condition of the home to get you the best price. Get it right the first time. Start with the best price, because if you miss that crucial first 30 days, repricing won’t help you sell for the best price. People will wonder why it didn’t sell and will low ball you with offers. Also, be sure that your Realtor is aware of the lowest price you are willing to accept. Be open to negotiation and other considerations for a lower price, but make sure there is an understanding.

No one will buy your home if it looks like an episode of Hoarders. They certainly won’t give you the best price if it is a cluttered mess. Before you move, pack up all of your belongings and those things you don’t want give away or throw away. If possible, leave a small amount of furniture to make sure the home doesn’t look vacant.

Then clean. Clean as if your life depended on it. If you can’t due to the impending move, or just don’t want to, hire a cleaning company to do a serious deep clean on the home. Also have any necessary repairs made, and any updates your Realtor recommends. Have the home staged for the best effect.

If you are looking for a Realtor in the Tampa Bay area who works often with out of area seller, give Deb Ward a call today! 727-410-0336

Buying in a Hot Real Estate Market- 5 Ways to Make Sure Your Offer is Accepted

October 27, 2021 By Deborah Ward

Buying a home in any market can be stressful, but in a hot seller’s market the stress level can be even worse. Worrying about whether your offer will be accepted, whether you are handling it correctly can make anyone nuts. Did you know that there are things that you can do to make sure your offer is accepted?

Lowball bids

Whether there are a few buyers vying for the same property or just you and it’s the dream home you’ve wanted forever, losing it due to a subpar offer can be averted. One of the bigger reasons sellers reject offers is lowball bids. Even in a buyer’s’ market when sellers can’t be quite as choosy, lowballing them is, well, insulting. In a sellers’ market they don’t have to even consider lowball offers.

Even if their home is overpriced, you still don’t want to insult them with a really low offer. If there are other offers on the table that is NOT the time to go low either. To be taken seriously, offer as close to list as possible, or over if you can.

Contingencies and Demands

Another biggie is contingencies and demands on the seller. It’s not out of line to ask for typical ones, like a home and pest inspection. Another typical one is the purchase being contingent on the sale of your existing home. This can be a sticky one for sellers. It’s not their problem that you have to sell your home and why should they wait? Demands for fixing superfluous things is also a no no if you want your offer accepted. Major repairs can be negotiated, but demanding they touch up paint or other minor fixes is a deal breaker.

Things to do to make your offer better

Three other things you can do to make your offer shine are to:

be prequalified for your mortgage
put a higher down payment on the home
make a cash offer

Any of these key items will make your offer look exceptional! The key to making a winning offer is to be the most advantageous to the seller. That could mean being the highest priced, the most prepared or the one most willing to meet their requirements.

Not sure what to do to make sure your offer is accepted? Rely on your AMAZING Clearwater Realtor to help figure it out! Call Deborah Ward Today! 727-410-0336