Realtor Tips – Page 6

Should You Buy Your New House Before Your Last One Sells?

November 11, 2021 By Deborah Ward

It used to be a moot question. When the real estate market was super hot there was no question about whether you should buy your new home while still selling your current one. You’d lose the new one and the old one would sell likety-split anyway. Today it’s not such an easy question to answer, even though the market value is trending upward.

Sell first?

So today do you sell your old home first? Or do you buy and then sell? It’s a good question and the answer depends on a few different things. One is you, the seller/buyer and whether you fall into one of two categories: someone who has to know where you’re going before you sell or someone who has to know you can sell before you buy.

Some things to keep in mind

First, those who are able to make an offer without the contractual out of selling their current property are favored over those who make offers contingent on selling their home.

If it’s a buyer’s market, you are at a disadvantage trying to sell, but at an advantage in looking for a new home since there are more to be seen. So selling first is probably a good idea.

In a seller’s market you could probably get away with listing while you look, just remember that there will be competition for the home you want to buy, so don’t offer on a new one unless you are sure yours is sold or just about sold.

Do your homework

Your best bet if you are going to take the chance and buy and sell simultaneously, then do some homework first. Start by talking to real estate agents to get an idea of market value of your home. Then talk to your mortgage company and find out two things: first, if you qualify for a loan for a new property, second, if you can get that mortgage before your current home is sold. Then be prepared to have a time period of paying both mortgage payments. If you can’t stomach that thought, sell first, then look and buy.

Look at the options

If you sell first, then buy, there are a few things you can do as well. First, look at the options for temporary housing while you look for your new home and close on it. Don’t rely on the assumption that the buyers of your current home will allow you to rent back from them. Then enjoy the experience of buying and having the negotiating edge!

Why Florida Is The Best Place To Retire

November 11, 2021 By Deborah Ward

It seems cliché, but Florida really is the best place to retire. There are a lot of reasons, so let’s explore a few.

Top of the list: taxes

When you retire your income is no longer a guaranteed thing and is now limited to your pension/401K/IRA and Social Security. That can be a challenge if you live in some other states like New York or Maryland that feel that pillaging your retirement income is their prerogative. So why not move to Florida where Why Florida Is The Best Place To Retire there is no state income tax, no inheritance tax or estate tax?

Stretch that retirement dollar

You know what else goes right along with the lower taxes? A lower cost of living, generally (some areas are higher, but that goes for anywhere you look). Homes are less expensive, as are the other necessities of life. You can stretch that retirement dollar a lot farther.

Sunny days

You can’t ignore the weather in Florida. Yes, it’s hot in the summer. Yes, it’s humid in August. Guess what? It’s hot and humid a lot of other places too. Ever been in Washington DC in August? How about Michigan in February?

Snow!

You won’t be shoveling snow in Florida. Or blasting your heat either. You might need a light jacket or sweatshirt in January, but not a parka, scarf, hat and mittens just to go from the house to the car! You will have to be aware that the sun IS stronger in Florida in the summer, but like you adjust to freezing temperatures in the winter now, you can adjust your activities to avoid too much sun in July.

Enjoy water play

Along with those lovely warm temps comes water. Florida is surrounded by it on all but one state line. The Atlantic Ocean is on one side and the Gulf of Mexico on the other. In between are lakes, canals and marshland. That means plenty of things to do like swimming, boating, fishing, biking, bird watching or whatever else you like to do on the beach or at the pool.

A great place to vacation for your family

You know those kids and grandkids left behind in the colder, more expensive climes? Grandma and Grandpa’s house now becomes a great place to vacation. Going to the beach or even to Orlando for some time with Mickey Mouse or at Universal Studios. Many towns have their own water parks and there is so much to do that the kids will be worn out in no time. There are plenty of airports to make their trip down quick and easy.

So why retire anywhere else?

Who Is Going To Be Buying Your Next Listing?

November 11, 2021 By Deborah Ward

Did you know that knowing who your average prospective buyer is can help you sell your home? Makes sense. If you know that your average person looking at your home is a certain age range, income level, etc., you can target your efforts in marketing your home, and even in choosing a Realtor.

Know your target buyer

Let’s say that you have a condo in a 55+ community. You know that your target buyer is 55 years old or over, and probably has a certain income range. This will tell you to find a Realtor that specializes more in older clientele, who can bring them to you, but who also knows how to market to them.

So who is the average American home buyer? Depends on whether it’s a first or second home. So let’s look at both.

Average home buyer

The average home buyer in the US for a primary home is 33 years old and has an average income of $86,500.00. They mortgage 93% of the sale. If they are second home buyers the average age is 56 years old and has an average income of $112,500.00. They mortgage 83% of their purchase. This is probably because they have more savings, but also because a second home mortgage requires more down money.

So how is this useful? Well, a 33 year old is most likely settled in a career, possibly married and has a family, or is starting one. Your Realtor will know how to market your home to meet their criteria.

If you would like find out more about selling your home in the Tampa Bay area, give Deb Ward, The Irish Realtor a call today! 727-410-0336

Why Pricing Your Home Right at the Start Matters

November 11, 2021 By Deborah Ward

Pricing your home correctly when you first put it on the market is very important. Starting out with the right price will mean the difference between selling quickly and possibly not selling at all.

So why does overpricing sabotage selling your home?

Let’s start with the fact that the buyers who can buy your home won’t even see it unless the price is right, and those who will see it are looking for something in that actual higher price range. When buyers look for a home they choose a price range from the highest their budget will allow to the lowest price that represents the quality of home they want. No matter if they search the internet first, or just contact a realtor to assist them, if your home is slightly overpriced, it won’t show up in that range.

Perception and market timing

Second, the market for a newly listed home is the most active in the first 30 days. Even if you think that you can drop your price later, you won’t be willing to drop your price for at least 90 days, meaning you miss the hot selling period. It gets even worse. Remember, even if you have the most fantastic house on the block, the longer it sits the more people think something is wrong with it. Perception is everything. If it was so great it would have sold already, right? Maybe not, but that’s what sellers are thinking. Even an inkling that something might be wrong and they look elsewhere and won’t buy your home. There goes your chance to get market value!

Lower offers or market value

Guess what else will happen? That idea that overpricing it will get you at least market value is also wrong. After you drop to a more reasonable price that time on the market will mean that people will offer even lower. You’ll be so tired of trying to sell it that you’ll take less. Price it right the first time and that is much less likely to happen.

Realtor Funnies | What Those Real Estate Descriptions Really Mean

November 11, 2021 By Deborah Ward

Realtor Funnies | What Those Real Estate Descriptions Really Mean If you’ve ever been on a house hunt you know that those descriptions that Realtors use say one thing but can mean entirely another. It may not seem funny at the time, but later it can seem rather hilarious. Forewarned is forearmed, so knowing about them can save you time and money.

Here is a fun list!!!

What it says:

What it means:

Lots of potential

This home is a total money pit!

Unique urban home

The building used to be an industrial location

One of a kind

Beyond ugly

Must see to believe

You won’t believe how awful it is

Starter home

Needs a ton of work so bid low

Sprawling ranch

Crazy floorplan that probably isn’t “open”

Spacious

Probably smaller than you would like

Charming

Definitely smaller than you want

Cozy

Have you heard of the tiny house movement?

Walking distance to shopping

No parking available so you have to walk

Natural setting

Deer and rabbits will eat your landscaping

Park like setting

You will have a tree, no matter how small

Secluded setting

Don’t count on your GPS actually finding it

Executive neighborhood

Taxes are through the roof

Upper bracket

If you have to ask you can’t afford it

Bright and sunny

The window coverings are not included

Lots of natural light

Light bulbs count as “natural”

You won’t believe the size of the closets

Because they are the size of a shoe box!

Original hardwood floors

Probably aren’t salvageable shape

Open floorplan

Doors are optional

Great home office space

The nook under the stairs is the office space

Needs some TLC

Run, run far away!

Waterfront location

The birdbath in the front yard has water in

Obviously not all Realtors subscribe to those descriptions, but it happens! Just remember when house hunting to keep your sense of humor and you’ll be fine!

How To Have An Amazing Open House | Clearwater Realtor Tips

November 11, 2021 By Deborah Ward

You need to sell your home and have heard the suggestion to have an open house to generate interest. It’s a good idea, but it takes some planning to have an amazing open house.

First, get your timing right

Talk to your Realtor about when the best time to hold it would be, and start on advertising and marketing the open house. Check the newspaper or online to see if others are also having open houses nearby and try to hold yours then as well. People like to hop from open house to open house, making an afternoon of it, so others will help generate traffic for yours.

Clean and declutter

Next, clean it, declutter it and make the home look spacious, light and NOT yours. Stow away all extras to make counters look bigger in both your kitchen and bath. Buyers don’t care about your stand mixer and coffee maker, they care about how much room the counters have. Set your table. Make your dining room look fancy and your kitchen homey. It adds a touch of class, and helps the buyers picture THEIR dinner parties. Buy and put out a new doormat at the front door. It makes people think your home is clean and you take care of it.

Fresh baked goodies smell

It never hurts to “bribe” buyers. Put out baked goods (if you don’t bake them, warm them in the oven just before the open house to get that fresh baked goodies smell) and beverages for people to enjoy. It’s a small thing, but it will get you remembered.

A sign in sheet

Be sure to have a sign in sheet so people can leave their contact information, then use it afterwards to call and thank each person who came by. That extra step, which buyers won’t expect, may just pay off in a contract. Also leave something for them to take with them. Make sure they have a property flyer to take with them including a color photo of the house and all of the necessary information about it.

Lastly, LEAVE

Don’t hang around. It makes buyers uncomfortable and will keep them from asking questions about the property and getting honest answers. Be sure to take your pets with you and stay away until your Realtor gives the all clear.