How to Make a Buyer WANT Your House! Staging your house, before it’s too late and you lose the sale

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If you’ve shopped for a home, chances are you’ve come across one that you really wish you hadn’t visited in the first place. True, houses for sale ought to have a certain “lived in” quality to them, because they are to be lived in after all, but the art of tactfully balancing just the right amount of homeliness with neutrality is not so simple. You need to know what you’re doing when you prepare to set up your house and show it to potential buyers. We’ve put together some great tips for home-sellers so you can get the same results you’d get by hiring a professional staging company.

Fix Up the Place

One of the biggest mistakes homeowners make before putting their house up for sale is to neglect areas in the house that need attention. Folks, don’t leave that faulty step unrepaired, only for a potential buyer to step on, slide off of or worse, get injured on – FIX IT! You might think potential buyers won’t notice but they are walking around on your premises like hawks, noticing each little detail. The good news is that they are noticing the first-rate stuff too, so as long as you have the home’s amenities in order and other major areas in tip-top condition, you should be in good shape. Here’s how:

Get Rid of the Clutter

If you want to successfully sell your house, you need to get those potential buyers to imagine they already live there. Too much clutter, hobby-oriented items or personal possessions that most people may not be able to identify with, can easily get in the way of that vision. Organize things in stylish storage bins or better yet, have a garage sale before the open house and get rid of unwanted stuff. You have to move soon anyway, why not kill two birds with one stone? A clean and organized home will seem like a clean slate to buyers, who can then see themselves moving in without much hassle and settle in effortlessly.

Stay Neutral

Skip the tie and dye sofa cushions, shaggy 70s rug and don’t light incense on the day of your open house. While you’re at it, don’t fill the space with gender-specific things either. Buyers should walk into a neutral ground – literally. Light to medium colors, preferably in beige tones, are the simplest way to pull buyers’ attention away from other personal aspects of your home that they may not be able to identify with. Beige goes with almost anything so if someone considering purchasing your home can imagine their things in the space, then you’ve just crossed one of the most major hurdles in home-selling – making a buyer identify with the home.

Make It a Modern, Inviting Environment

If you don’t already have them, invest in a few modern decorative accessories to improve the look of your space while lending an air of style and taste and making it more enticing. It doesn’t have to take much but depending on how you set it up, you can enhance a given space with a few simple additions and deletions. Take your over-crowded study and rearrange the bookshelf to display only a few strategic but essential books, like a leather-bound set of encyclopedia or some literature classics. In the same way, leave a few children’s toys in a child’s room but be sure to display them tastefully.

Put a Few Finishing Touches in Place

The idea is that you want your house to be sold – and you probably want it sold fast. If you are careful to respect the people who are visiting your space to decide whether it’s the right one for them, then you are doing something that a lot of homeowners neglect to consider. Taking down a piece of controversial artwork that may make a potential purchaser uncomfortable could be the one bargaining chip that could make or break the sale. Arranging for all those who currently live in the home to be away during the open house and while showing the house being dressed in a way to present a good impression are also great ways to tip the scales in the right direction.

It’s very simple. You need to make the potential buyer feel right at home from the get-go. If from the moment they walk in and smell cinnamon cookies baking makes them wish this was already home – then you’re already two steps ahead and can call the open house a success! Of course, a signature on the dotted line is where the real success lies and as long as the buyer feels at home, chances are that if everything else lines up – the sale is a winner!

October 2011 Market Update for Baltimore and Harford Counties

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As the number 5 top real estate agency in the State of Maryland with RE/MAX– we get asked a lot of questions. Lately, people want to know how our area is performing in the real estate market. There is some good news, some not-so-good news and a few things in between but we all know that what goes up must come down and vice versa.

BRAC Resulted in Increased Renters

During the past two years our area has seen an influx of Base Realignment and Closure (BRAC) transfers, something that we had hoped would contribute greatly to the housing industry in our counties. Unfortunately we did not experience as much of a home buying spree, as we would have liked rather about half of the BRAC transfers ended up renting. It is our hope that these renters will soon venture into buying a home – a move that would collectively do the area a lot of good. We anticipate that as these residents spend more time in the vicinity they will feel more confident about making this area a long-term home for their families.

Homes Are Selling

In Harford County there are currently 1,600 homes on the market. Of them, anywhere from about 175 to 200 are selling each month.

Baltimore County’s listings amount to about 4,200 at the moment – and of these nearly 500 to 600 are selling every month, translating to an approximate 12% monthly absorption.

Ranchers and Colonials Are Going Fast

Not only are rancher homes selling fast but they are also selling at a good price, which is very good news for us. The other segment that is performing very well right now is colonial homes particularly in the Bel Air area. Properties priced at about the low 400s to the mid 500s are the ones that selling the quickest. Not only that – some of these properties are seeing multiple offers in a matter of days being on the market.

Inventory Levels Still Higher Than We’d Like


An ideal market is a balanced market and we are still a few months away from being balanced in terms of inventory. Currently we have anywhere from eight to ten months of inventory that must sell.

One type of dwelling where there is a higher surplus is in townhouses. There are currently a high inventory of townhomes on the market. Adding to that the fact that prices are down makes it an unpleasant time to try and sell for first time sellers, owners of these properties.


Beating This Market and Getting Homes Sold

With our years of experience in getting homes sold fast at the best price possible, we strive to help you with your home’s sale so you can enjoy maximum success. Given the condition of the market these days, we know how essential it is that you have an edge over other sellers.

To help our clients sell their homes we are focusing on getting them to work with a home stager. If you are considering putting your home up for sale at some time in the near to distant future, our team will come over to your home, go over what the expectations are and what is needed to accomplish those goals. Then, as the months leading to the sale of your home go by, you have plenty of time to work on the areas that need repair, rehabilitation or renovation.

One of the things we assist our clients in determining is how and where to distribute their funds in areas of their home needing attention before sale. Whether redoing your kitchen counter tops,  updating bathroom vanities, renovating the basement or replacing carpet and repainting the walls – we provide plenty of advice on these things so that your home will sell at the best price possible and in the least time needed.
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Being in the top 5 of our state with RE/MAX, our team sells a lot of inventory in the Harford and Baltimore county area, we know what we’re doing and we are confident that the advice we give you will yield excellent results! We invite you to call us and we’ll come out to meet with you.

Five Things That Make Buying a House Today the Choice You Should Make

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We all know that interest rates have not been this low since before baby boomers were in control of things – but there is much more to it than just the rate you get when buying a home.  We wanted to share why so many people are compelled to forego the renting option and go straight to owning their own home.  When you combine the low, low prices of homes on the market these days with the interest rates that are as much as five times less than what they were a while ago – buying now makes more sense than ever.

More House for the Same Or Less Payment

Since property owners have to pay to maintain the house, the costs are usually passed onto the renters.  When you own your own home, not only can you afford a bigger house with better amenities, more space and in superior condition but considering todays’ market you can manage it with less out-of-pocket each month.

Better Neighborhood for the Same Or Less Payment

A major factor for families with children going to school, being in a better neighborhood provides added security and the presence of a better school district.  Again, considering the state of our current real estate market, the benefits of buying these days include being able to get into a far better neighborhood than if one was to rent.

Tax Advantages That Facilitate More Money In Pocket

Renters do not enjoy the tax advantages of being a homeowner.  Whether a first-time homebuyer, an energy-saving household or just through the regular homeownership tax deductions, the financial benefits of homeownership far outweigh those of people choosing to rent a home.

Fewer Total Moving Costs

With advantages provided to homebuyers in some mortgage programs allowing as little as 3.5% down or less to get into a home, the total cost to move in is often far less these days when buying versus renting.  Landlords typically expect rent for the first month plus a security deposit equal to first months rent, and pet deposits ranging from 200-2000. Most landlords are not allowing pets, and because the rental market is so busy the landlords can be very choosy.  What’s more, once you do move in there are extra charges to have pets and renters are largely limited through liability as well.


Extended Savings Through Delayed Initial Payment

When you rent a home, chances are that rent will be due immediately.  In fact, most renters cannot even move in until and unless they have paid their dues.  Conversely, depending on when the closing date is, homebuyers are able to get away with as much as 45 days without making the first mortgage payment, which is usually just the payment, real estate taxes plus private mortgage insurance if less than 20% was put down on the house.  Renters would have to pay as much as $3,500 (including security deposit and additional months’ rent as required) depending on their monthly payment amount.
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With rates and home prices as low as they are, if you can afford it and if you qualify – this is a very good time to choose buying over renting.  To find out whether you can qualify for a home purchase, visit your Realtor today.

What’s a Real Estate “Short Sale” and Why Should I Buy One?

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The best way to explain a short sale is with an example:

Assume a homeowner has an unpaid loan mortgage balance of $200,000, but the property will sell for only $175,000. The lender holding the mortgage agrees to sell the house for the $175,000 amount, which, of course, leaves it “short” of the full amount of $200,000. Thus, the name “short sale!”

Obviously, lenders are not to crazy about short sales since they’re not in business to lose money. But such situations do occur for various reasons often related to “hardship” situations. Examples include:

- Permanent injuries
- Financial insolvency
- Job layoffs, etc.
- Divorce

This can be a difficult situation for the homeowner, but it does offer an opportunity for you to pick up a bargain as a buyer and for the homeowner to get a chance to start over. However, there are several potential downsides you should be aware of before you make an offer.

Pitfall 1: Allow time for the lender’s decision.
Once your offer is accepted by the seller, the contract will be sent to the seller’s lender for approval. This process can take anywhere from 1 to 6 months, and there’s oftentimes no way to know beforehand exactly how long the lender will take.

Pitfall 2: The lender is under no obligation to accept the short sale.
Often times, lenders will come back with a counter of a higher price, or will sometimes reject the offer outright. There is no way to know beforehand exactly what the lender is thinking. This risk can be reduced by pre-qualifying the seller and making sure he or she has a genuine hardship, and by making sure you offer close to market value.

Pitfall 3: The seller must be committed to the process.
A great deal of paperwork and commitment will be required of the seller. There have been cases where the seller does not complete everything that is necessary and causes the lender to reject the deal. Additionally, there have been cases where the seller backs out to declare bankruptcy. Make sure the seller is committed to the process before you begin!

Summary

You can pick up great bargains in the short sale market, but you have to be very knowledgeable and very patient! And, as mentioned earlier, there are risks and often times you will face disappointment. Hiring a professional realtor who has experience with the ins and outs of short sales can help reduce these risks.