sellers

FSBOs Tips – Why We Love FSBOs!

October 27, 2021 By Tara Jacobsen

FSBO’s, or homes for sale by owner, are not a realtor’s nemesis, quite the opposite! In Clearwater, Dunedin and St. Pete we love them. Deborah Ward, the Irish realtor, knows that it can be hard to list your home on your own, and has some great tips to help you out. “Why” you ask yourself “would a realtor help me sell my home myself?” Well, maybe because she knows that she just might have a buyer who would love your home. She hopes that even if you decide not to use her listing services, you might know someone whom you can refer in Clearwater, Dunedin or St. Pete. She also knows that you might just decide to have her list your home. So why not share some great tips!

The first thing sellers think about is how to price their FSBO. Most sellers think their home is worth more than it actually is. Many sellers look at asking prices of homes that they think are like their own and set their price based on that asking price. This is a huge mistake. Your best bet is to have a professional come in and let you know the actual value of your home based on how it looks, what it has and not what you think. It might not be what you want to hear, but priced right it will sell more quickly.

Another common mistake FSBO seller’s make is showing their home to anyone who shows an interest. If you do that you are wasting your time on a lot of people who won’t be able to afford your home. They are unqualified. At the very least, ask people who want to see your home for proof they have been prequalified for a mortgage. Then ask if they have a home that they have to sell before they can purchase your home. If so, is it under contract? A realtor in Clearwater Dunedin or St. Pete would do all of this for you. They would pre-qualify prospective buyers so that their time and yours won’t be wasted.

So don’t be afraid to ask for help. Even if it’s just to get advice or a home value, you never know if the time will come when letting a realtor help can be the answer.

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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.

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.

>> Get our FREE FSBO tips <<

The Deb Ward Team