Whether you’re thinking of selling your home, or just looking to increase its value, investing in your entryway will surely make an impression! Message me for more home projects that can help increase your home’s value!
One thing is common among all properties that receive multiple offers these days: the home is in a good location. Location is nearly always what drives homebuyers in their search. Before considering price, number of bedrooms or size of home, a buyer looks for location.
If your home is on a busy street, not in the best school district or near a freeway on/off ramp, chances are you won’t receive the kind of activity that a well-located home would. In that case, work closely with your agent to price the home correctly.
Must be priced right
Buyers in any market look for perceived value. Homes priced 10 percent (or more) over their market value won’t get noticed. Pricing isn’t an exact science, and it’s nearly impossible to pin a precise number to a home until buyer and seller sign a contract and close. Then, the price officially becomes the home’s market value. Until that time, agents can provide sellers with a value range. Have a good location? Does your home show well? Are you in a strong sellers’ market? Price your home on the bottom of that price range and you’ll be sure to attract buyers — and possibly multiple offers.
Must show well
A generation ago, sellers simply did some deep cleaning and maybe some de-cluttering before their first open house. Presentation wasn’t as important then as it is today, given online listings. More buyers today develop an emotional connection to a home. They want to imagine themselves in your home and not feel like they’re a guest. What does that mean? Appeal to the masses. If you have a good location and you plan to price your home realistically, then you need to make sure you give buyers what they want. If you can afford it, make cosmetic upgrades; invest in some staging and work to turn your home into a “product.” Emotionally disconnect from your home and try to see it more objectively.
Plan on having the home in perfect condition for the photo shoot. A buyer’s first impression of your home likely will be via the Internet or an email from their agent. Make them want to step inside. The more buyers you attract to your home, the more activity.
Know your market
Don’t assume that national trends apply to your region, city or neighborhood. If you’re not in a strong sellers’ market or you spend a fortune on last-minute upgrades, you could be in for a giant surprise. Just because you hear about bidding wars and multiple offers on the news doesn’t mean that applies to your area. Home selling is like the stock market it is goes up, down and can have a bit of a lull when interest rates go up and what is happening in the news for your area and even around the world.
Work with a good Realtor and, no, not all agents are Realtors learn the difference. A local Realtor knows the area and what has recently sold as well as ones that have sold over the past six months to a year. Knowing those homes, having walked inside and personally knowing the agents who have sold them matters. This is market data that an outsider just doesn’t have access to. This knowledge empowers good local agents to educate their sellers.
Hey RENTERS we have good news! Rental payments now to be included as part of the underwriting process!
What does this mean?
Did you know that effective Sept 18 Fannie Mae has allowed rental payment history to be included in the underwriting process. Essentially making it easier for renters to become homeowners!
Rent is most times the largest expense for families and history of paying it on-time will now be considered for credit worthiness. With Fannie Mae’s new guideline, any missed rental payment wont’ keep you from getting a mortgage. With what’s going on around us, this couldn’t have come at a better time.
“For many households, rent is the single largest monthly expense. There is absolutely no reason timely payment of monthly housing expenses shouldn’t be included in underwriting calculations,” said Thompson. “With this update, Fannie Mae is taking another step toward understanding how rental payments can more broadly be included in a credit assessment, providing an additional opportunity for renters to achieve the dream of sustainable homeownership.”?
Those you might have been previously rejected due to lack of credit history may have greater chances getting into their dream home.
If you think this will benefit you, reach out today and let’s hop on a call to discuss next steps!
Happy Tuesday and Welcome to August! Yep, I am a few days late on the monthly newsletter please forgive me I was having a very fun weekend at the Gorge and Watershed. A bit slow and tired today but it was worth it. So as we slide into August enjoy with some great events, ideas, tips, real estate news and its National watermelon day so go enjoy!
I hope you all had a wonderful Thanksgiving and weekend! Here is your December issue of our Newsletter. With your eye on this crazy busy market, tips and includes some gift ideas! 😊 Have a blessed, happy and safe holiday season.
It’s that time again for your monthly newsletter. With your eye on the market, virtual experiences, important dates and a few more tidbits I hope you enjoy. Independence day is almost here and however this month is going to enfold lets roll with it and make some lemonade!
It’s that time again for your monthly newsletter! Notice QR codes seem to be back? While I like QR codes and think they are handy I sure hope we all can “experience” some of the beautiful places the Pacific Northwest has to explore in person and soon!