Well folks, it’s that time of the year again and I spoke with our dear friend and founder Andy Salo about any ideas that he had for For Sale by Owners for the Holidays. Here’s what we came up with.
HOLIDAYS ARE A BAD TIME TO SELL.
Typically, folks get busy this time of year—what with all of the shopping and presents and what not. Thanksgiving, Christmas, and New Year’s are such homey times that most people are settled where they are for the season. After all, who wants to spend the winter months moving out of an old house and dealing with mortgages and what not? Nobody.
However, there are still bargain house hunters out there. Folks looking to start their new year in a new home may be privy to the fact that no one’s really trying to sell right now, so they’re looking for good deals. For the FSBO, this means that you’re not going to have a lot of competition in the market. If you list your house at a reasonable asking price, you could improve your chances of making that unlikely holiday sell.
HOLDIAYS ARE A GREAT TIME TO SPRUCE UP THE HOUSE
So if you do decide to hedge all bets and put your house up on the market for the holidays, why not decorate accordingly? Nothing makes a house look warmer and more inviting than some tasteful holiday décor. You’ll want your potential buyers to picture themselves with their kids, next to the hearth opening up presents on Christmas day. Just refrain from telling that anecdote about the year Uncle Pat came to Christmas unexpected dressed in a Santa Claus outfit and made the kids cry.
Merry Christmas Y’all!
Archive for the ‘Preparing Your Home’ Category
HOME FOR THE HOLIDAYS
Sunday, December 5th, 2010More Advice From Realtors as the Seasons Change
Thursday, September 9th, 2010In continuing with our “Ask a Realtor…” re-hash, let’s look at the advice some realtors have given to weary sellers as the seasons change from summer into fall. All advice and text was gathered from the Austin American-Statesman newspaper, September 5th edition.
It’s still no coincidence that the phrase “price will overcome all obstacles” appears repeatedly in this particular column. Yes, folks rule number one is to price your home right. I’ve said it before and the experts echo the sentiment.
Since this summer is typically brutal on lawns and flowers, do yourself a favor and spend a little time and money on refurbishing that landscape and bring it back to life. There’s nothing more unattractive than a brown, dying lawn and empty flowerbeds. Also, make sure that your homes are always kept cool during showings. You can set the thermostat to whatever you want otherwise, but while you are showing, be sure to make the environment cool and comfortable for any potential buyers. According to Austin realtor, Peggy Little, “nothing moves a potential buyer faster through a showing than a hot house.”
The next step after you make it through the heat: adding those fall touches.
A Guide to (Life)Style
Friday, February 26th, 2010So I wanted to do a blog about modern style trends in housing, and before I started I wanted to direct you all to this page of the “World’s Wildest Houses”. Some of these houses you won’t believe…but I digress.
FSBOs, since you are taking on the project of selling your house to potential first-time homebuyers, you want to be on the cutting edge of style so your house shows well. In all of my research, I haven’t really landed on a “defining” style that everyone is currently going for. Some people want a fixer upper and that might mean no style at all. Others might be looking for modern-chic. The bottom line is that you can’t predict what your buyer is going to like or dislike.
(One thing to note: You as the seller are selling the structure of the house, not the stuff inside of it. That’s why it might be a good idea to remove any excess furniture or décor to show off as much of the shell as you can. A smart buyer isn’t going to buy from you because your nice leather sectional looked good in the den next to the fireplace—they’re going to buy it because their twin suede love seats will look great next to the fireplace.)
But what I can say, through all my research, I always somehow ended up arriving at the same point: Green. Once thought as a trend, now a way of life, and soon becoming the only way to live, greening is perhaps the best enhancement you can make on your house. People will be much more tempted by energy-efficient windows and water-conserving dishwashers than anything else. Plus, a green home can get buyers government sponsored incentives, which makes a nice selling point on any property. Simply by upgrading your heating and air-conditioning system to an Energy Star rated system, you qualify for a 30% tax credit for the upgrade, which helps you (see details here at paystolivegreen.com.) There are countless other ways to green and you read more about them at paystolivegreen.com.
So instead of using style to sell your house, entice buyers with life style, and a green one at that.
More About Listing Photography
Friday, February 5th, 2010
Inspired by an article in Austin, TX’s Realty Line Newspaper about listing photography, I thought I would elaborate even more on the topic, because I can’t stress enough the importance of taking amazing pictures for your property. What was once referred to as curb appeal is now “pix appeal,” to quote FrontDoor.com’s Shannon Petrie. Homeowners no longer rely so much on their curb appeal, but their online appeal. It makes sense considering that 87% of buyers search for their home online.
So what exactly can you do to make your house look as good as possible?
A crucial point to stress would be the idea that you are trying to capture the space of your house in the photo—not how nice your things look in the room. That’s important to keep in mind because there is a difference. You may have a nice living room set up with electronics and sofas and ottomans, and although all of that might be clean and tidy, to the buyer looking at photograph, that’s just going to clutter up the space of the living room. Sometimes, as the seller, you might be too far in the proverbial woods to see the trees.
When taking a photograph, it’s important to consider your lighting. Nothing can mess with a home’s visual appeal more than poor lighting. According to Petrie, natural lighting is your best bet. It tends to give rooms a bright and open appeal. Flashes typically cast nasty shadows that degrade the quality of photographs. When doing exterior photos, you want to shoot on overcast days so that sunshine doesn’t cast shadows on the house. Open curtains and let that natural light flow into the room. You want the house to look bright and inviting.
In order to capture the space of a room, you are going to want to shoot from doorways or corners of rooms so that you can include as much of the space within as possible. The same goes for the exterior. Avoid shooting the property head on. Shooting the house at an angle will give the viewer a better grasp on the space and shape of the house.
But the best advice is to take lots of photos. Give yourself as many chances as possible to capture the essence and beauty of the room. Digital cameras allow you to take your time, deliberate, and over-shoot—if you have to.
Once you’ve gotten the photos you wanted, it’s always a good idea to touch up afterwards. You can do this using Photoshop (if you have it,) iPhoto, or use the assistance of free online photo editing tools. There’s a whole plethora out there. If a room looks a bit dark, lighten it up. Enhance colors to really make that picture bounce off the page.
The same way a bumble lands on the prettiest flower, a buyer will take more interest in prettier and more spacious homes. You cannot be too meticulous when photographing your house. The better your photographs are, the more buyers you will attract with your MLS.
MLS Photography
Sunday, January 17th, 2010Ya’ll are going to love this. I lieu of yesterday’s blog post about MLS and the presence of such a charming, curb-appealing picture of that house smack dab in the middle of the post, I thought I would elaborate a little bit more on the importance of taking good pictures for your house.
Given that most of the real estate market has fallen upon hard times (the opposite could be argued for the FSBO market), the professional real estate photographers have found that, with an influx of homes foreclosing and going up on the market, they have more work all of a sudden.
As Scott Hargis, professional freelance real estate photographer told the Photopreneur Blog: “As the RE [real estate] industry has been tanking, I’ve found that my services are actually in greater demand than ever. I’ve raised my rates twice in the last two years with another increase likely this fall.”
Which goes to show you that real estate professionals are realizing that, in order to sell a home in this climate, you have to make it stand out and look good. Good photography is precisely the way to do that, and people are paying for it.
But as the For Sale by Owner, were looking to avoid as many of the “professional” costs as possible while still, at the same time, putting out a very professional looking product. In this case, our property listing would be the product and our pictures, the salesman.
It’s a simple philosophy really: your home will only look as good as you make it look. If you take pictures of cluttered rooms under pasty fluorescent lighting, your house will look more like an operating room than a home to the buyer. You want to give them something that they can see themselves living their life in. The best advice I can give is to hire a professional photographer to come out and do your home justice. They’ll know the specifics on lighting and cameras that will make your house look good. Not looking to pay for a photographer? Then get a shutterbug friend to take the pictures. Even as a hobbyist, they can make your house look thousands and thousands of dollars better.
It’s also important that you know the format your photo will be presented in online. Different sites display listings different ways and if you know ahead of time what kind of pictures the listing supports, you can gear your photo shoot towards that.
For some ideas on what not to do, I ran across a site that hosts a bad MLS photo of the day, called the MLS Trash Can, hosted by Orlando Real Estate Photography. There are some pretty appalling pictures that would hurt any listing.
My best advice to you is to go out in cyberspace and see what looks good. Look at professional photographer’s portfolios where available. You don’t have to master photography to take a good, professional picture, but a little research, time, and (if you’re willing) money never hurts.
Let’s Make a Listing!
Saturday, January 16th, 2010I figured that it was about time we look a little deeper into making a professional and attractive listing for MLS (Multiple Listing Service). There’s a lot of talk out there about the potential benefits of working with a flat fee listing services such as Yigdigs.com, and some of you may be asking, “Well, what exactly is going into this listing, and what can I get out of it?”
So I’m here to answer your questions.
Basically your listing is a personal ad for your property. And just like a personal ad you want to be honest and bring out the best in your property. Before making your listing, it’s probably a good idea to just make a general list of the unique benefits of your property. Two-car garage? Write it down. Brand new plumbing? Write it. Anything that can shine a positive, flattering light on your home makes great information for listings. Consider location to certain services or shopping centers, schools, and places to work. Is it a generally quiet neighborhood? Is it a great place to have a family? All of this can help make your home look like a buyer’s dream.
These positives will make your listing sparkle. Most of it should be used in the initial description of your property—the bit that sits right underneath the curbside picture of your property. If you sell your property short, then you will, inevitably, come up short on the pay-out.
Examine this particular house’s picture. Nice curb appeal. Charming landscaping and spotless exterior. This is a great picture. Now to back it up with a great mock-description.
(Let’s say that this house is located in Fort Collins, CO on historic Mountain St. about one block away from Poudre Elementary and City Park. During the summer months, the trolley cars stop right in front of the house, whisking people to Old Town (no more than 8 blocks away). In winter, the roads and sidewalks are maintained despite a frequent dusting of snow. The windows are insulated to retain heat in winter time keeping bills at a low cost. The house is a three bedroom/two bath with living area for entertainment, a recently furnished kitchen with a quaint dining nook. There is a basement attached to the sunken one-car garage that could be converted to more living space. Without the basement and garage, the square footage of the home is right around 1300 sq ft. Not the biggest house ever but, it makes up for lack of space in quaint, cozy-ness.)
Knowing that much we can present a pretty engaging description to whet the buyer’s whistle.
DESCRIPTION:
Located on historic and pristine Mountain St., this 3 BR/ 2 BA is perfect for families looking for a great community with a small-town feel. Only 8 blocks away from Old Town, the location is central to major shopping, business, entertainment, schools, and recreation centers such as City Park. With only a ten-minute drive to the foothills, you have easy access to the great outdoors.
1300 sq. ft make for a cozy and quaint setting to watch the winters from the kitchen’s adjacent dining nook. Brand new wood flooring and reinforced windows keep the house warm during winters with energy efficiency. Appliances and furnishings were recently updated. The backyard is picturesque for anyone who has appreciation for a natural setting.
Sounds good. And coupled with the picture, it seems almost too good to be true (in this case it is.) It’s that kind of appeal that For Sale By Owners should be going for in their listings. Make the home stand out from others. There are thousands of other homes out there for sale, and to entice potential buyers, supplying them with as much information as possible will make your home stand out from the rest.
Apart from the description, you’ll have to supply the buyer with specifics such as contact info, asking prices, locations, year built, school districts, etc.—things you should have ready to go before making your listing.
The more you put into your listing the more you will get out of it.
The TRUE Cost of Home Renovations
Sunday, December 20th, 2009As I discussed in an earlier column, a huge part of upping the value of your home comes in the refurbishment and refinishing of old fixtures and appliances. This can add a modest amount to the selling price of your home, or make that asking price look much more appropriate. However, should you want to do something more extravagant to your property—a “renovation”, if you will—then it might be good practice to be aware of how much your renovations really cost and how much they will add to your home.
In a recent study by the National Association of Realtors (NAR), the cost of home renovations was measured up to their respective return values. Unfortunately, on average, a typical renovation that might cost somewhere near $30,000 will only return approximately 63.8% of it’s cost, meaning that there’s a margin of loss around $10,860. That’s quite a loss to cut. What’s worse is that in the four years that the NAR have been conducting this study, the average percentage of returns has steadily dropped.
For FSBO’s, this creates the importance of choice. When considering renovations on your home to improve its selling cost, it’s crucial that you deliberate exactly what you are going to do, and how that will improve your financial situation. For instance, according to a CNNMoney.com’s Les Christie, the most cost effective jobs are not kitchen or bathroom renovations (in fact, those are the least cost effective), but “smaller-scale, lower-cost renovations that improve the exterior appearance of homes”. Effecting buyers’ first impressions will have an immediate impact upon their considerations for your asking price. These renovations, such as adding vinyl siding to the exterior, or replacement with fiber-cement are cheaper and, on average, have somewhere near an 80% return. Not a complete return, but a considerable more than 2009’s average.
This decision becomes even more important if the seller is looking to sell right away. Those low-cost renovations that have higher returns will be your best financial bet to beef up your selling price without wasting time and money on a renovation that won’t give back. Of course, if you are hedging your bets for a future sale, you can look at it like you’re getting a $50,000 renovation for less than half the cost.
Renovation is a tricky thing. It almost inevitably will result in some sort of financial loss, but given the state of the property, it might be necessary to get the house sold. So FSBO’s, be smart! Take everything into consideration when attempting a renovation so you get the most bang for your buck.
Staging your home
Tuesday, November 24th, 2009How to Stage your Home
If you’ve read the previous blog post, then you’re aware of the importance of self-education when it comes to selling your home. If you don’t know what you’re getting yourself into, take a minute a do some research on the process of For Sale by Owner home selling. Once you’ve acquired the information necessary, then you’re ready to proceed onto the next step of selling the home.
Showing the house is one thing, but showing it well is a whole different ball game. Even the most seemingly insignificant adjustments can transform your cluttered clamor into the house of people’s dreams. The first thing to do: remove clutter. Nothing hurts home showings worse than clutter and disorganization and there are plenty of easy ways to de-clutter.
Turn unsightly household objects into home buying appeal. If you have a bunch of old magazines and books lying around, organize them into a bookshelf, or use them to accent other home décor. Old books make great lamp stands when stacked. If you haven’t used the stuff lying around your house in a while, then get rid of it. Whatever attachment you felt towards those things will soon be replaced by a sense of relief for your clutter free household.
Clutter doesn’t just come from knick-knacks and other things lying around, it can also come from having too much furniture packed into your living rooms and bedrooms. Although it my have been a nice set up for you, the potential buyer will be distracted by the lack of space. The less furniture that you have, the bigger the house will look, and that’s a good thing when showing a house. The more space the buyer sees they are getting for their buck, the more willing they will be to meet with asking prices. Before you show your house, take some of your excess furniture and store it away until the move. It will let the house breath and make the space much more accessible to the potential buyer.
Once clutter is removed, and the house is looking nice and open, it is usually a good idea to replace fixtures just to give it that “new house” look. This is one of the easiest and cheapest ways to really give your home a visual kick
Just as important as the inside of the house, the outside must also make a great impression on the potential buyer. Basic steps are to landscape and touch up any blemishes on the exterior of the property. Mulch that flower bed and plant something! Got dirty gutters, clean them! Nothing will hurt a house showing more than a beautiful interior and the second they step into the backyard, there’s potholes, patchy grass, and dirty windows—another inexpensive, sure-fire way to help your For Sale by Owner experience.
But perhaps most importantly in the staging process is the first impression, or as we say in the real estate business, “curb appeal”. The entrance to your home will set the tone for the rest of the house. So, tidy up that entryway. Maybe even give that front door a nice bold coat of paint on it so that the entrance will be fresh and inviting. Christopher Breining, owner of HomeStagers Inc., suggests that the home seller polish fixtures and add visual elements such as potted seasonal plants and a doormat to really liven up that “first impression”. This will welcome the potential buyer and get things off on the right foot for the home showing.
When selling your home, the most important element of the FSBO process is how the home shows. No matter your price, an ugly, uninviting, cluttered home won’t sell and it won’t look good on the part of the seller. So remove that clutter, dust of that lampshade, polish that doorknob and present a respectable and asking-price-worthy home to the buyer. Hey, you never know–after you’re done staging, your home might look so good you’ll want to stay.
