REAL ESTATE Mistakes to Avoid When Selling a Home

Putting a For Sale sign on the lawn is not just physical step, but there is a mental and emotional toll that selling has on a family selling their home. Let’s face it, a seller has put his or her heart and soul into the home. You’ve raised a family in the space ,upgraded amenities and it now has sentimental value to the seller. As a seller, are you ready to move?   Before making a decision, talk it over, weigh the alternatives and remember “testing the market” can jeopardize the sale, because most homeowners who do have a wishy-washy feeling about how much money it will take to get them to move.

The experience can be grueling for sellers when their personal lives become public displays to strangers and their criticisms. If you’re going to be living in a home when selling, you have to willingly be inconvenienced. So what’s the best way to get out from under the microscope? Sell fast.

Seems simple, but those sellers who have had a home on the market for months with no buyer leads can testify that many factors play a role in the final sale.

  • The home has to be researched and priced right.
  • You need a great marketing strategy.
  • Your product (home) has to entice buyer demands
    Selling a home with your favorite color choices making a statement on the walls is a huge turn-off for buyers. Neon-bright, bold or dark colors are not only taste-specific, but they can direct the buyer’s eye in a negative way and actually make a room’s square footage look significantly smaller, if done incorrectly.

    While a seller can have color on the walls, err on the side of caution and choose more neutral hues. This doesn’t mean paint every room in the home hospital white or real estate beige. Subtle color palettes can go a long way in setting the tone of the home. Take a cue from nature and use colors that inspire buyers like blue, green, gray, taupe and, of course, white.

    You want buyers to see themselves living in this home as they tour the space, so neutralizing the walls will give them an opportunity to envision their own style – think of it like giving them a blank canvas to work with.

    Why should a seller care about painting his or her home? While painting is an easy update and cost effective for a seller to make, in a buyer’s eyes it’s a reminder that work needs to be done on the home, which can wreak havoc on the offer. A 2012 survey by real estate blog HomeGain.com found new interior paint could provide a 107 percent return on investment in the home sale.

    Are you a pet lover? If so, you may be overlooking your pet’s presence throughout the home. Thirty-five percent of households in the U.S. don’t have pets, according to the Humane Society of the United States, a large portion to rule out when you’re trying to find a buyer for your home.

    It’s important to reduce pet odor. If pets have urinated on the carpet and it still smells, remove it. Have a cat? Don’t forget to stay on top of litter boxes by cleaning them every other day, too.

    Treating the backyard as a toilet for your pets is a huge no-no, so start walking the pooches, especially when showing. If a buyer steps in dog doo-doo while walking through the backyard, don’t expect an offer.

    If your pets have broken items around the home – like chewing molding, scratching walls or breaking screens – repair any damage.

    Also, keep your pets a secret from homebuyers by making sure to remove them during showings and open houses. Remember to pack up all their belongings as well.

    Removing personalized decor is a must when getting ready to move. You want buyers to visualize themselves living in the home, rather than see the seller’s reflection in the space. This is one of the biggest reasons to stage the home. If buyers can’t imagine what could be in a home, chances are they won’t make an offer, leaving the seller lingering on the market.

    Personalized items can be a major downfall for homeowners when it comes time to sell because they serve as a sentimental reminder, and they can become emotionally attached to their belongings. Belongings, by the way, the buyer isn’t purchasing. So, why not start the packing process and remove the clutter?

    Do you have light fixtures that are outdated or builder-grade? If so, consider replacing them. It’s important to remove fixtures that not only look cheap, but that date the space.Most homeowners have ample lighting in their home – they just neglect to change the light bulbs once they’ve blown out. Make sure to have the appropriate wattage (use maximum wattage), and on a multi-bulb fixture be sure all light bulbs match.

    Now, that you’ve taken a moment to look up above in your room, what about what’s under your feet? One of the biggest mistakes sellers can make is sell their home with dated or worn-out flooring, particularly carpet.

    Carpeting is a touchy subject when it comes to staging a home, but it all comes down to this: What is the easiest, budget-friendly way you can update your flooring and make the biggest return on your investment?

    Things to consider when changing the flooring:

    • Is there real wood hiding underneath? If so, remove the carpet. Wood not only raises property value, but buyers love it.
    • Is the current color an eyesore? If so, replace the carpet with one of another color.
    • Is the carpet full of stains? Or does it smell? If so, remove, or at the very least get a professional carpet cleaner in to steam the carpet.
    • Do you have a worn-out carpet? It has to go.

    If replacing existing carpet with new, use a neutral color, like tan. If you don’t want to replace carpeting, consider talking to a real estate agent about providing a carpet allowance in the offer.

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Lackluster July home sales in Triangle expected to be temporary

Although the pace of home sales in July slowed in the Triangle compared to previous months, closings so far in August are already up 22 percent over last year.

That’s according to a closer review of the Triangle Multiple Listing Service data according to agent Bo Bromhal after the July Triangle MLS report showed that home sales in the Triangle were up only 0.1 percent – or a total of four additional units sold – in the month compared to the year prior.

“August sales will be strong,” Bromhal promises. “Homes under contract at the end of July were up 10 percent from 2015. With unit sales year-over-year still so strong at almost a 9 percent increase, this tells me that the quantity of sales is overwhelming the lending system, and they’re experiencing delays.”

Bromhal says many of the mortgage lenders he’s communicated with are recommending up to two weeks extra to close on a home compared to typical timeframes.

In July, the number of new listings was actually down 1.7 percent while demand for houses increased, meaning that buyers had fewer options to from which to choose. The available inventory of homes for sale is still around three months, the same it’s been for the past nine months in the Triangle.

The average sales price also bumped up 7.5 percent to $279,269 for the Triangle region in July. The average price for a home sold in Wake County had surpassed $300,000 for the first time in local history in June and July.

 

by: Amanda Hoyle, TBJ Staff Writer

N.C. Wine, Cheese & Chocolate Festival

If you’re not doing anything this Saturday….

August 13, 2016

The N.C. Wine, Cheese and Chocolate Festival is an annual event open to all celebrating amazing tastings of wines, cheeses and chocolates. Hosted at Lafayette Village in North Raleigh this event includes live bands, DJs, sample offerings from many local shops, vendors and more. A portion of this year’s proceeds will benefit the Raleigh chapter of the American Diabetes Association. Tickets are available in advance and the day of event.