HouseLogic | REALTOR® Content Resource | How to Remodel and Keep Your Marriage Together

HouseLogic | REALTOR® Content Resource | How to Remodel and Keep Your Marriage Together.

Getting Your Home Ready to Go on the Market

34 Tips to Prepare a Home For Professional Photography

According to a recent survey by the National Association of Realtors®, 89% of homebuyers who shop online notice photos first when looking for a home. Therefore, it is important to hire a professional photographer to ensure that your listing makes a good first impression.

Your photos are going to be seen by any number of online consumers, so making your listing stand out is imperative. Ensure that you promote your sale in the best light possible by planning ahead of time for professional photography.

Here is a list of ideas and tips on how to help your client get ready for a professional photo shoot.

Inside the Home

  1. De-clutter as much as possible. Put away toys, clothing, dishes, towels, shoes etc. It’s a lot cheaper to put these things away before the photo shoot than to pay to have the photos “photoshopped”.
  2. Depersonalized to a certain degree. Photos of young children and any potentially offensive art (believe me, I’ve seen it all!) should be put away.
  3. Remove any seasonal/holiday decorations that can quickly outdate your photos.
  4. Dust and vacuum.
  5. Make all the beds, fluff all the pillows, and check the bed skirts.
  6. Clean the kitchen sink and put away all the dishes.
  7. Clear all kitchen counter tops and put away toasters, can openers, etc.
  8. Clear all bathroom counter tops and put away all personal items.
  9. Remove all shampoos, conditioners, body-washes, etc. from the shower.
  10. Put out the guest towels and hide all the others.
  11. Hide all trash cans.
  12. Remove all magnets and decorations from the refrigerator.
  13. If there are pets, hide all food/water bowls, pet beds, and pet toys.
  14. Put all toilet seats and lids down.
  15. Replace all burned out light bulbs.
  16. Consider decorating the tables with your prettiest place settings.
  17. Consider putting out vases of fresh flowers.

Outside the Home

  1. Have the lawn trimmed, leaves raked, bushes and trees pruned.
  2. Clean up after any animal
  3. Put away all garbage cans, hoses, garden tools, toys, bikes etc.
  4. Hide any “cute” yard decorations.
  5. In snowy climates, shovel snow from walkways, driveways, patios, decks when necessary.
  6. If there is a pool, hot tub, or spa, take any security gate down, uncover, and clean.
  7. If there will be any twilight photos taken, replace any broken lighting on the home, around the landscape, and in the pool.
  8. Open the umbrellas on any patio sets.
  9. When in season, uncover grills.
  10. Remove any seasonal/holiday decorations.
  11. Consider adding splashes of bright colored flowers to the landscape and in pots.

Right Before the Photographer Arrives

  1. Turn on ALL interior lights – even lights in furniture cabinets.
  2. Turn OFF all ceiling fans.
  3. Light fireplaces and candles.
  4. Open all blinds, shades, and curtains.
  5. Clear all cars and vehicles from the driveway and the street in front of the home.
  6. Please secure any potentially aggressive animals in a safe location, away from all rooms being photographed.

There is one more thing I want to bring to your attention.  Please place all valuables in a secure location.  There will potentially be many people walking through the home, and valuables should be out of site and secure. Safe deposit boxes and wall safes are great for this.

Is Purchasing a Short Sale the Right Move for You?

Is Purchasing a Short Sale the Right Move for You?

Today, everyone wants a deal.  In fact, many real estate buyers expect them in today’s market.  In order to get the best “deal” consumers are looking at the distressed and short sale market for their best opportunity.

 

Unfortunately, short sales are not the best buys for every house hunter.  

Here are a few signs to help you find out if a short sale can work for you:

 

1. You are not working against a clock

The phrase “short sales ” is an oxymoron.  Short sales are short because the bank is taking a, sometimes significant, loss and allowing the borrower to transfer the property without the credit and legal implications of a foreclosure.

If you need a house tomorrow, short sale properties should be as far away from their radar as possible.  Consumers who can afford a 3-6 month waiting period from the time they write their offer to get a bank approval or denial are much better suited for a short sale.

2. You like change and surprises.

Short sales purchasers cannot be averse to change.  This type of transaction is all about change and surprises.  Rigid, type-A personality clients are usually not the best candidates for purchasing a short sale.

There is no rhyme or reason for short sale approval/ denial sometimes.  The banks make decisions that they feel are in their best interest, sometimes ask for the same form multiple times, and in some cases will send you contradictory forms.

In addition, there are a variety of things that can go wrong and cause you to have to restart the short sale process in the middle of negotiations. These include the bank selling the lien to another loan servicer after the short sale is initiated, policy and regulation changes, and many other changes you can’t predict until you’re working on the transaction.

Flexibility is a virtue when involved in this type of transaction.

 

3. You are willing and have the funds to renovate.

Short sales may seem cheaper to purchase than most traditional sales and foreclosures, but there is one very important caveat for the purchaser to consider; repairs will be on them.  That’s right; most short sales are sold “as-is.”

Many short sales carry the condition that the seller can’t invest any more money into the property.  That means, buyers who have loans that require repairs be made before the loan can be issued shouldn’t shop for a short sale.  FHA and VA loan products are good examples of loans that may require repairs before lending.

In these cases, if the purchaser or seller bank is unwilling or unable to make the repairs, the deal could be dead.

 

4. You are willing to wait for a return

A good deal today could mean great profit tomorrow, but “tomorrow” is a figurative term in the world of short sales.  Gone are the days of accruing 32 percent price appreciation in 6 months.  Purchasing real estate is a long-term investment of at least 5 years.  The more focused on the long-term bottom-line a short sale purchaser is, the more likely they will enjoy the outcome of the transaction and future profits.

For Sale: 3BR/2 1BA Condo in Nashville, TN, $245,000

For Sale: 3BR/2 1BA Condo in Nashville, TN, $245,000.

We are going to make a deal on this great condo…call me 615.400.5230

NEW LISTING HENDERSONVILLE: 3BR/2 1BA Single Family House in Hendersonville, TN, $279,900

For Sale: 3BR/2 1BA Single Family House in Hendersonville, TN, $279,900.

For Sale: 4BR/3 1BA Single Family House in Nashville, TN, $729,900

For Sale: 4BR/3 1BA Single Family House in Nashville, TN, $729,900.

How Accurate are Property Estimate Sites?

What is ZILLOW??

What is a Zestimate?

The Zestimate (pronounced ZEST-ti-met, rhymes with estimate) home valuation is Zillow’s estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home’s value. The Zestimate is pulled from data; your real estate agent or appraiser physically inspects the home and takes special features, location, and market conditions into account.  We encourage buyers, sellers, and homeowners to supplement Zillow’s information by doing other research such as:

    * Getting a Comparative Market Analysis (CMA) from a real estate agent

    * Getting an appraisal from a professional appraiser

    * Visiting the house (whenever possible)

 

 

How Accurate is Zillow?

 

I was working on a new listing this morning. We measured the home yesterday and I was curious as to what the different sites were reporting as value. See below…

 

  • Zillow: 3587sqft 0 bedrooms/ 3.5 baths zestimate $265,500
  • Trulia: 3587sqft 0 bedrooms/ 3.5 baths value $254,000
  • Realtor.com: 3587sqft 0 bedrooms/ 4 baths value $270,214
  • Eppraisal.com: 3587sqft 0 bedrooms/4baths value $278,296
  • County Tax Record: 2286sqft 0 bedrooms/ 0 baths value $272,400
  • Our Measure 3034sqft 3 bedrooms/2.5 baths value $275,000

 

How accurate are any of the evaluation sites for this subject. See for yourself. Of course we were the only ones to ever be in the house and physically measure it. All had the square footage, beds, baths wrong even the county records. As for the values, they ranged from a low of $254,000-$278,296 about a 10% difference. We are putting the house on the market next week and I will let you know what it sells for.

Now is a great time to move up in a home…

Selling & Buying in a Down Market

 

Buying in a down market can be an excellent time to make a move to a higher priced home. Example: your condo you purchased when you graduated from college has lost a little equity. But it is a great in town condo with super walkability so it has not lost as much as the neighborhood just a little further out with great schools and big yards. Now may be the perfect time to consider trading up. The condo example may have declined some in value but the bigger home in the suburbs has declined even more because of lack of relocation business this year. That home in the suburbs is a great deal and the price is down much more than the condo. Might it be a good time to take a “little loss” in the condo so you can realize the great price of the larger suburban home with the big yard and the net gain in the transaction? Think about it….

For Sale: 4BR/3+1BA Single Family House in Nashville, TN, $375,000

For Sale: 4BR/3+1BA Single Family House in Nashville, TN, $375,000.

10 Home Renovations That Don’t Necessarily Add Value $$$$$$

10 Home Renovations That Don’t Necessarily Add Value $$$$$$

Many people, often working under the assumption that all renovations increase the value of a property, spend thousands of dollars on expensive upgrades, changes and additions to their homes. The price of a home is dictated mostly by market forces (such as what other similar houses are selling for), not necessarily by the characteristics of a home. Yes, some qualities are highly sought after (depending on the area, the time of year, and the personal interest of potential buyers) — such as garages, finished basements, enclosed yards, big kitchens, etc. — but many of the things assumed by some to increase the value of a home in fact do not affect the value at all. They include the following:

 

Swimming pools. If your property already has a pool, by all means, keep it in good condition for prospective buyers, but don’t put one in under the assumption that it will increase the chances of selling the house or getting more money for it.

 

Over-renovating for your neighborhood. If by making some expensive renovations to your home you are creating a piece of property that will stick out like a sore thumb or drive its price well beyond other homes in that area, then you are making a huge mistake.

 

Extensive landscaping. You are better off just making sure that your grass is mowed, your bushes trimmed, and your leaves picked up.

 

High-end upgrades. Imported tiles, fancy bath tubs, built-in Jacuzzis, hand-decorated wallpaper, Persian rugs, expensive light fixtures, etc. While some of these things may appeal to you personally, they may not impress potential buyers — in fact, they can sometimes be a turnoff.

 

Wall-to-wall carpeting. You might be better off restoring a home’s wooden flooring. Either way, you can be sure that the new owner will make changes, regardless of what you do. If you have carpet, let professionals give it a good, strong cleaning, making sure to treat any noticeable stains. If you have wood flooring, sand them down and give them a shiny coat.

 

Invisible improvements. While they may sound good on paper, don’t expect potential buyers to agree to a higher price because you went out to invest on new plumbing or a new HVAC unit for your home. In general, buyers are impressed by what they see, not what is hidden behind walls or

kept in the basement.

 

A refinished or well-decorated basement. While some people may be looking for homes that have this feature, even they may not be ready to pay more than the house should be worth (based on comparable houses). Such a feature may help clinch a sale but it will probably not pay for itself.

 

Building or upgrading a deck. Decks are a great addition to a home but this is something that some people might want to tackle themselves. They may not like the design you picked out or the quality of the work.

 

Patio frills. Some people think that they can get their money back if they invest on water fountains, fish ponds, awnings, gazebos, or a multi-purpose playground. These things may or may not impress a buyer and may even help clinch a sale but they will not generally increase the value of a home.

 

The addition or expansion of a garage or carport.

While many people acknowledge that a garage can be very useful, this does not mean that they will necessarily pay more for a house just because the owner recently added a garage or carport to it. People will just assume that the addition benefited the owner as much as it may benefit them — in other words, it is not something that they will necessarily feel an obligation to make any extra compensation for.

 

Have Questions: Call me anytime 615.400.5230