sellers

Top 20 Obstacles to Selling Your Home

Top 20 Obstacles to Selling Your Home

Below is my list of the top twenty common aesthetic or physical things that might affect the sale of your home. I have included my opinions of the effect these things will have on the Price and the Time it Takes to sell your home. In general, in the current market if your home includes more than six decorator/appliance/bath trends from a former decade, it will have an effect on the time it takes and the money you will get for your home.

 

 

  1. House Located on main thoroughfare (double-yellow painted on street): Price Effect: Minus 15%; Time Effect: Add 30%
  2. Very steep driveway up to the house: Price Effect: Minus 7%; Time Effect: Add 20% (Don’t list your house in the winter)
  3.  Driveway down incline to house: Price Effect: Minus 5%; Time Effect: Add 10% (Don’t list your house in the winter)
  4. Gully or very steep drop-off behind house: Price Effect: Minus 7%; Time Effect: Add 10%
  5. Brook behind or around house: Price Effect: Minus 3%; Time Effect: Add 5%
  6. No tall trees around house (except for new construction): Price Effect: Minus 2%; Time Effect: Add 2%
  7. Electric heat and/or Outdated Electrics(fuses): Price Effect: Minus 13%; Time Effect: Add 25%
  8. No self cleaning oven: Price Effect: Minus replacement cost; Time Effect: None
  9. House facing school or business property: Price Effect: Minus 8%; Time Effect: None
  10. Power line behind or in view of house: Price Effect: Minus 10%; Time Effect: Add 40%
  11. Bedroom, Living room or family room with dated/out of fashion color carpet: Price Effect: Minus replacement cost; Time Effect: Add 15%
  12. Cat/dog door: Price Effect: None; Time Effect: Add 10%
  13. Cat door in Condominiums: Price Effect: Minus 5%; Time Effect: Add 15%
  14. Backyard unsuitable for children/family members to play: Price Effect: Minus 2%; Time Effect: Add 10%
  15. Two-story high deck: Price Effect: Minus 3%; Time Effect: Add 25%
  16. Interior or Exterior needs painting: Price Effect: Minus 3%; Time Effect: Add 5%
  17. Bright color or flowery (especially large flowers) wallpaper: Price Effect: Minus replacement cost; Time Effect: Add 30%
  18. Cluttered or messy basement: Price Effect: Minus 1%; Time Effect: Add 5%
  19. Swimming pool: Price Effect: Add half the cost of the pool plus landscaping and fencing; Time Effect: Add 25%
  20. Worn-out hardwood floor finish: Price Effect: Minus cost to refinish; Time Effect: Add 5%
Okay, So What’s a Condo?

Okay, So What’s a Condo?

Often mistakenly referred to as a type of construction or development, it actually refers to the type of ownership.

A condo (condominium) is a type of ownership in real property where all of the owners own the property, common areas and buildings together, with the exception of the interior of the unit to which they have title.  Said another way, when you buy a condo you have exclusive ownership rights to the interior space of your particular dwelling unit but you share the ownership of the common areas (walls, grounds, fences, facilities) with the other owners in the complex. 

What is the appeal of a condo?

Condos offer you an alternative lifestyle for many individuals especially those who prefer to be independent and have their own place to call home that is affordable and at the same time more convenient that buying a conventional home.

What kind of condos are there?

There are many types of condominiums available out there. Each type can satisfy the different needs of different individuals. The building shape could be a high-rise, a mid-rise, a townhouse, a garden up or down, or a villa, either attached or detached from other units. There is what is known as a condominium apartment and there are those also known as condominium townhouses which might have slight differences with each other save for their structure type and ownership regulations.

What’s the main difference between a condo and a single family home?

Condo living is much different from owning or renting a single dwelling home or apartment. This is because of the dual nature that comes with every condo unit ownership. Condominium owners hold ownership over their respective units but each one sharing responsibility over the operating costs and maintenance of the shared elements in the property such as lobbies, passageways, elevators etc. that are essential parts of a condominium complex. By choosing to live in a condominium, you are choosing to live within a community of other condo unit owners who become your instant neighbors. Each condominium complex is a community in itself and each owner accepts and follows the standard rules and regulations unique to condo living.

What are the typical benefits of owning a condo?

1. A condo unit is less expensive than owning a single detached dwelling which may take you years to save for before owning it.

2. Amenities and shared facilities like the pool, clubhouse, and weight room are usually part of most condominium complexes.

3. You become part of a unique community where you are an integral part in the whole decision making process.

What are the typical drawbacks of owning a condo?

1. Depending on the condo complex, there might be some restrictions such as on owning pets, or having outdoor barbecues.

2. Owners are also required to follow some rules of conduct on common areas such as passageways and lobbies.

3. Owners might not be as “free” in their home because they also have to respect the rights of their neighbors living just on the other side of their walls.

What is the condo fee for?

Maintenance of the condo complex is shared by all the owners. When you buy into a condo or townhouse complex, you become a member of the homeowner’s association. As a member, you pay monthly dues to the association. Your dues will normally cover the management of the homeowner’s association, hazard insurance for the complex and a certain amount of routine maintenance. Precisely what is covered by the homeowner’s dues will vary from one complex to the next.

Is a co-op the same as a condo?

Co-ops are very common in New York city, not so much in the Boston area.  A Co-op is a actually a different type of ownership than a condo. When you buy a Co-op what you actually buy is a proportionate number of shares in the corporation that owns the building. The corporation in which you are a shareholder then issues you a proprietary lease entitling you to live in the unit you have purchased. Financing, the manner in which sales are recorded, rules and other details are also often different for  Co-ops than for condos.  The corporation also has the right to refuse to sell you shares based on any number of subjective criteria by the board of directors … that does not occur in condos.

 

How to Get Top Dollar in The Spring Market

How to Get Top Dollar in The Spring Market

Especially Helpful if you haven’t sold a house in a while

The best chance for selling your property is within the first seven weeks. Studies show that the longer a property stays on the market, the less the seller will net.

Below are some of the key things that you need to consider when pricing/marketing your home:

PRICING

It is very important to price your property at a competitive market value right when you list it. The market is so competitive that even over-pricing by a few thousand dollars could mean that your house will not sell. It’s interesting, but your first offer is usually your best offer. Here are reasons for pricing your property at the market value right from the start in order to net you the most amount of money in the shortest amount of time.

An overpriced home:

* Minimizes offers

* Lowers showings

* Lowers agent response

* Limits financing

* Limits qualified buyers

* Nets less for the seller

Common realtor stories hold that eighty percent of the marketing is done when we decide on what price to list your home. If you are unwilling to list at current market value, you would be better off not putting it on the market at this time.

CLEANLINESS

Most people are turned off by even the smallest amount of uncleanness or odor when buying a home. Sellers lose thousands of dollars because they do not adequately clean. If your house is squeaky clean, you will be able to sell your home faster and net hundreds, if not thousands of dollars more. If you are planning on moving, why not get rid of that old junk now so that your house will appear larger? Make more space. Odors must be eliminated especially if you have dogs, cats, or young children in diapers or if you are a smoker. You may not notice the smell, but the buyers do! Most agents have a difficult time communicating to their sellers about odor. If you employ an agent to get the most amount of money for you, please don’t take offense if he must confront you about odor problems.

ACCESSIBILITY

The only way any agent can show a house is to have access to your front door key(s)!

I and other top buyers agents will not show your home if both the key(s) and access are not easily available. We do not have time to run around town all day picking up and dropping off keys or organizing around your, your listing agent’s, theirs and their buyers’ busy schedules . We want to show and sell homes!

If it isn’t easy to show you’re helping your competition, because their homes are.

While I’m at it, when your home is being shown  please do the following:

* Keep all lights on

* Keep all drapes and shutters open

* Keep all interior doors unlocked

* Leave soft music playing

* Take a short walk with your children and pets

* Let the buyer be at ease and let the agents do their job

PAINT & CARPETING

Paint is your best improvement investment for getting a greater return on your money. Paint makes the whole house smell clean and neat. If your house has chipped paint, exposed wood, or the paint looks faded, it is time to paint. If your carpet is worn, dirty, outdated, or an unusual color, you may need to seriously consider replacing it. Many houses do not sell because of this problem. Don’t think that buyers have more money than you have to replace carpet. They don’t. They simply buy elsewhere.

FRONT YARD & CURB APPEAL

Your front yard immediately reflects the inside condition of your house to the buyer. People enjoy their yards. Make certain that the trees are trimmed so the house can be seen from the street. Have the grass mowed, trimmed and edged. Walkways should be swept. Debris cleared away. Remove parked cars. This all adds to curb appeal. If a buyer doesn’t like the outside, they may not stop to see the inside.

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