Archive for the 'Sellers' Category
3 Rental Tips
July 17th, 2008 categories: Sellers
1. If you are looking for a home to move in to over a month out stop…. STOP LOOKING.
- Some of you love to look but the rental market right now is too hot for you to not be able to make up your mind. The homes you like today will not be around a month from now unless you get real lucky. It is best to wait until about a month to 3 weeks out and then hit it hard unless you are an out-of-towner (new word).
2. Double up on your security deposit.
- If you are trying to find a place and you have terrible credit or you are coming out of a foreclosure you are going to have a hard time getting a homeowner to trust you with their home. The best way to comfort their hearts is to double up on the security deposit. It works.
3. Don’t lie on your application.
- I don’t know what happens to some people when they fill out an application but they think if they fill out an application like a job application that they have a better chance of getting a home. Bad move. If a homeowner sees that you are lying after pulling your credit, seeing a fake SS number, a judgement you didn’t disclose, or whatever, they are surely not going to trust you with their home. It is much better to be honest up front. You have nothing to loose and hopefully something to gain.
OTHER GREAT POST
Ashburn Rentals Are Going Nuts!
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4 Sacred Short Sale Tips
July 7th, 2008 categories: Sellers, Short Sales & Foreclosures
You have sucked it up, bitten the bullet, and it looks like you are heading down the dreaded route that you never thought you of all people could end up on. I looks like you are loosing your home. Well, lets make this as painless as possible and hopefully save your credit score as much as possible in the end.
Here are 4 Short Sale tips that will help:
1. Don’t Be A Loner- I promise that this is not a ploy for you to call me but you will need a Realtor on this trip. It is long, complicated, and you need a guide. One of the major hurdles with the bank is showing sufficient marketing to sell the home. You don’t have time for this one and it you won’t be paying the Realtor if it goes through any way- the bank will.
2. Make A File- If the banks has begun the foreclosure process you need all of that information. Any default information is helpful. Also call your bank and find out what your PAYOFF BALANCE is. If you have more than one lender involved get both balances.
3. Make File #2- Make another file with a copy of W-2 forms, proof of employment records, the last couple of years of banks statements, your last 2 tax returns, and be prepared to write a hardship letter.
4. Practice Patience- Patience during a short sale is not just a virtue it is a must have. It is important to understand that if handled properly a short sale stands chance of being accepted by the bank within time. However, expect that time to be up to 90 days longer than a typical resale.
Once you choose a Realtor to represent you during this transaction, you will need to be able to convince the bank that financial hardship is not from a living a lavish lifestyle or loan fraud. These document will help. If you have lived-it-up you still may have a shot so it is worth looking it to.
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Online Listing Sites You Can’t Afford To Not Be On…
June 9th, 2008 categories: Sellers
If your home is for sale and lacks a large web presence there is a good chance your buyer will pass you by. I cannot under estimate how important web precense is.
The majority of buyers, some say over 85% of them, are viewing homes online before ever visiting them. The days of finding homes through open houses are gone. They honestly do little to get a home sold besides keep you cleaning on Saturday and figuring out where to hang out for 3 hours on Sunday. This is why your home having a spectacular presence online is your best chance of selling quickly. Even Realtors find homes online. And trust me, if I am searching for a particular home for a buyer and there are 50 that match the criteria, my attention first goes to homes with multiple photos.
5 Ways To Get Your Home Less Showings
- Have only 1 photo of your home.
- Have your photos taken without your home cleaned and staged.
- Have your photos taken by your Realtor.
- Have no virtual tour.
- Have your home only listed on the MLS.
Remember, a picture is worth a thousand words. So are bad ones. This is why I hire a professional photographer to shoot my homes. I also give my sellers staging tips or hire a stager for them to get their home ready for sale. It is important to know that many buyers enjoy virtual tours (similar to a video) of homes more than photos. Listen, you are paying a Realtor a lot of money to get your home sold as quickly as possible. The least they can do is to spend the money to make it show up looking awesome.
Along with the MLS, it is a great idea to have your home listed on a few other sites that receive a lot of buyer attention:
- Craigslist.com - this site isn’t big in some areas. But if you live near a metropolitan area, you can’t afford to miss this one.
- Realtor.com- This is the most searched real estate website. However, unless your Realtor pays extra for your listing to be highlighted there is a good chance you won’t be seen.
- Trulia.com
- Zillow.com
- THE GOOD NEWS- if your home is in the MLS it should appear on most company sites like Century21, Remax, etc… even if you are listed with another company.
If you are working with a Realtor and they are not listing you on these sites, encourage them to.
If you are interested in discussing my marketing services feel free to contact me. I will do a no obligation listing appointment for you.
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Should You Rent Or Sell Your Home In Loudoun County?
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Should You Rent Or Sell Your Home In Loudoun County?
April 24th, 2008 categories: Sellers
Everyone knows that right now is not the best time to sell your home. However, it is a great time to buy a home for a great price at great interest rates.
For many of us buying is not a viable option since we are “STUCK” in our current home which has no chance of selling without loosing a lot of money or going to foreclosure. Some of us aren’t “STUCK” but really don’t want to loose a lot of the money we put down on the home by selling now.
ARE THERE ANY OPTIONS???
If you aren’t living month to month paying your mortgage and you don’t need the equity in your home to purchase a new home you may want to consider renting out your current dwelling while you take advantage of the current market conditions. This option can allow you to purchase a home at a great price while your current home regains value.
Now, there are some obvious risks/ and benifits in this plan that should be taken seriously.
The good news is that many times when there is instability in the market rental prices increase.
Where To Start:
- Ask a local Realtor to tell you what you can expect to rent your home for. This fee should include any HOA or Condo Fee’s. This will help you have a realistic expectation of the financial impact of renting over time.
- Assume that between tenants you will have to pay the mortgage yourself for one to two months. Can you afford a loss?
- Carefully research the benefits of renting (ask a tax advisor about writing off your depreciation and discuss how this will effect your capital gains tax.) This will most likely be the greatest attraction or deterrent for you.
If you are looking for professional help in renting out your home and acquiring a rental price estimate be sure to contact me. Don’t forget to ask about my FREE RENTAL OPTION.
Here is another great article to help you weigh the costs.
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Looking To Sell In Loudoun? What’s Your Home Worth?
April 23rd, 2008 categories: Sellers
If you are considering selling your home in Loudoun or Fairfax County it is worth getting a professional opinion.
I will email you a FREE evaluation of your property showing you all of the homes that have sold in your neighborhood, homes under contract, and homes currently for sale to help you decide on a price.
Simply fill out the form here HERE.
I will email you the results at no cost to you!
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Beware Of Hidden Housing Issues
April 17th, 2008 categories: For Homeowners, Sellers
Many of the homes now under contract are being sold by the bank. As I mentioned earlier, the banks are not huge fans of addendum’s such as home inspections since most of them are being sold in their “AS IS” condition.
Being the diligent buyer you are, this is not an option. So what do you do? You get a home inspection for informational purposes only. If you find items that you aren’t willing to deal with you walk, if you still can, or try to work something out with the bank.
Here is a great video on some major issues to look out for during a home inspection. Even if you are hiring an inspector these will help you ask some great questions.
Sellers this is a great video for things to look out for. If you know of things that would scare away buyers it is best to address them before they scare away your future buyer.
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The Sacred Open House
March 24th, 2008 categories: Buyers, For Homeowners, Sellers
What is the goal of an open house?
The chances of selling your home during an open house have to be like 1 in 100.
If the odds are that low, why the heck to do we still hold our houses open? Wouldn’t it be much more efficient to spend that couple of hours that we hold our homes open passing out flyer’s or something? Seriously, think about it. We spend all day Saturday stressing ourselves out trying to make our home appear clean, smell good, and get those vacuum lines in our carpet so we can let complete strangers and nosey neighbors wonder around our homes for three hours? Do we seriously expect that that during those 3 hours the future buyer of our home will be in our neighborhood and be so enthralled by our 4 signs that they will come and visit our home and want to buy it on the spot?
Don’t get me wrong. It could happen. The question is, “is it worth it?”
Truthfully, I bought my home after going to an open house. However, I was already going there because I knew it was for sale. I have had clients buy homes after going through an open house. However, I sent them there meaning we would gone either way.
The truth is that I hold open houses. I will probably hold one open this weekend. I do it because sellers think it is important. Every weekend. NO. But once in a while, sure. Open Houses are the sacred cows of real estate. Its like knocking on wood. Read the rest of this entry »
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4 Ways To Guarantee That Your Home Doesn’t Sale
March 13th, 2008 categories: For Homeowners, Sellers
On the first date, you have 1 objective (most of you). To get the second second date.
There are some obvious things you would not do on the first date. Things like talking about how much you loved your X, sharing with your date your gas or snoring problem, open the door only for yourself, or point to and start laughing about a small piece of food on the other persons face. You may decide that you do not want another date with this person. However, when it comes to selling your home, you probably don’t care who buys it. As long as it gets sold.
Since you want your house sold, there are some things that you should never do. In fact if you do them, there is a good chance that you will not be getting another date/showing of your house.
Here are 4 ways to guarantee that your home will not be sold:
4. Smoke inside of your home or cook Curry with the windows down on a continual basis. It will not matter how nice your home shows if it smells so bad that people cannot think normally. I have had clients overlook homes that show better than others because of strong odors and the work it will require to get rid of the smell.
3. Try selling your home with filthy or rude tenants living there. This is a tough one. It is hard to force a tenant to live as if they are selling thier own home. I had a listing once where the tenant would leave the house with his hair all over the bathroom, clothes everywhere… you get the point. I actually feel that it is best to wait until they move out to put the home on the market. Remember, the longer it sits with dirty tenants the more “days on market” it shows and the lower your price will go. It’s better to pay the mortgage for a couple of months with no one living there if possible.
2. Leave the house with all of the lights off and windows shut. Listen, there are a couple of things that owners can’t change easily when they buy. One of them is SPACE. If you have it- show it. Dark homes look smaller. If you know someone is coming to your house to view it, do yourself a favor and turn ALL of the lights on. If it is day time, also open ALL the blinds. People like brightness and it will make your home appear more spacious.
DRUM ROLL……. AND THE NUMBER ONE THING YOU CAN DO TO KILL YOUR CHANCE OF SELLING YOUR HOME IS……
1. Stay home while it is being shown to give a tour. Listen. We know you like YOUR house. But you being at home while a Realtor is showing it to their clients will only cause the buyer to feel VERY UNCOMFORTABLE. Buyers don’t care what you did to your house on their first visit. If you want them to see something new you put in, put a sign on it. Buyers need to feel like they can go through your closets, cabinets, etc… Remember, you want to get rid of the home. Who cares if they go through your stuff? Would you want to spend hundreds of thousands of dollars and not be able to know the details of what you are buying?
So…. Do not give tours. Leave. If you have a baby asleep… then let the Realtor know ahead of time and stay with the baby. Worse case scenario… Go for a walk outside. Do Not Stay Home!
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The Secret To Saving Yourself From A Dying Home
March 6th, 2008 categories: Buyers, For Homeowners, Sellers
So you have had the home inspection done on the home you are buying. A few things needed some love. The HVAC is looking a little old but is still blowing and the dishwasher is the only thing that hasn’t been replaced.
Sounds a little risky. Its not like you will have a few grand to put up for a new air conditioning system if it dies this summer. What to do? Does your home owners insurance cover these items? Probably not.
Don’t worry. You are working with the Jonathan Bunn. Rated the best Realtor around in my opinion. That stands for something, right?
When purchasing an older home, I highly recommend a home warranty.
What is a home warranty? A home warranty is temporary insurance you can purchase that will cover most of the items that standard insurance does not cover. Things like; appliances, heating systems, cooling systems, garage door openers, washer/dryer, ceiling fans, garbage door openers, disposals, plumbing, electrical systems, trash compactor, etc… You can add other items depending on what home warranty plan you get.
Most home warranties last a year but can be extended from year to year. The typical cost will run you from the mid $300’s to the low $400’s. The price will vary based on what you have covered along with how much of a deductible you want to pay when the home warranty service provider comes out to fix an item.
For example: I paid $385 this year for the home warranty on my town home. This past week my dishwasher started acting funny so I called the home warranty guys. I paid $55 for them to come out and whala! I am covered. No parts charge, no hourly charge, no estimate charge. $55 and I am done.
The question you will have to decide for yourself is, “Will it be worth it?” Truthfully, I could have probably had this addressed for much less than $385. However, my home is getting too an age where this most likely will not be the only issue I call about this year. Some warranty companies will even buy you a new whatever if they cannot fix the present problem. Pretty cool.
So, if you are buying a brand new home, there is a good chance you already have coverage on your items and don’t need a warranty for a couple of years. Your call. If you are buying a previously lived in home, I would go for it. You can get one at settlement or wait some time like I did.
Oh, by the way… Do not make the mistake that one of my clients made. If you have a home warranty and you have a problem that needs to be fixed, DO NOT CALL your own fix-it-guy and then expect the home warranty company to reimburse you. CALL THEM FIRST OR YOU WILL BE PAYING ALL OF YOUR OWN FEES.
Sellers, if you have an older home, it may be an attractive offer to have your Realtor advertise that you will pay for the new buyers 1st year of the home warranty. It could save you from buyers asking you to drop your price for a new HVAC. No guarantees. On some plans you can even get the warranty while it is on the market to cover any issues during the selling period and not have to pay for the plan until settlement when you transfer it to the buyer. Sweet deal. Especially for vacant homes.
Here are a few home warranty companies to consider:
American Home Shield, 2-10 Home Warranties, HMS Home Warranties, Sears Home Warranty, and Old Republic.
If you need a referral to a home warranty salesperson, you can let me know by contacting me above. If you are moving in to Loudoun, Fairfax, or Arlington County and need a Realtor to work on your behalf, contact me.
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One Good Thing About Declining Home Values
February 9th, 2008 categories: Buyers, Local Issues, Loudoun County, Real Estate News, Sellers
When you live in a town home, yelling up the stairs becomes an accepted form of communication. I found our new county tax assessment in the mail this morning so I yelled upstairs to see if there was any other surprises that came with it. Not a chance. I was encouraged to see that the value was dropped in the eyes of the county.
Fine by me… However, more important than the value dropping is the county dropping me a check in the mail refunding the extra that I paid this year. I won’t hold my breath on that one.
You should be receiving yours also if you live in Loudoun County if you haven’t already.
After looking it over, you will probably notice one thing…
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