Evelyn's Sunshine Realty Blog
Instead of ignoring a low offer.....consider before you ignore it..... a counteroffer and negotiation could turn that low purchase offer into a sale. When you receive a low offer on your house, the best response is to counter with a price you're willing to accept.
You just received a purchase offer from someone who wants to buy your home. You’re excited and relieved, until you realize the purchase offer is much lower than your asking price. How should you respond? Set aside your emotions, focus on the facts, and prepare a counteroffer that keeps the buyers involved in the deal.
Today’s buyer-take-all bonanza is a boon for fence-sitters and buyers with great credit and deep pockets. But sellers are steeling themselves to new realities that include paying (rather than making) money at the closing table, providing extras to sweeten the deal, and spending more time and cash making the home camera-ready.
For first-time sellers who have never been through the process before, it’s a different world. One where the value of the house isn’t measured in the profit made on the sale, but by the enjoyment the owners had from living in the home. Here are three things experienced sellers would tell you, if they could:
* Price it realistically from the start * Be prepared to drop the price * Advertise, Advertise, Advertise to market the property... Internet is KEY! key!!
* Be prepared to reduce the price and possibly lose money
Something to keep in mind if you are considering selling your primary residence: Perhaps the greatest tax benefit of owning a home comes when a person sells it at a profit. Homeowners who lived in their home for two of the prior five years prior to its sale need pay no income tax on a substantial amount of their profit -- $250,000 for single homeowners and $500,000 for married homeowners who file jointly. This exclusion can be used once every 24 months.
You may think your equity and savings doesn't seem like a lot, but it really is real, and you can use it to put toward the purchase of a new home, retirement, your child's education or even taking that dream vacation that you've always wanted to take your family on. With the Sunshine FULL SERVICE sellers plan, we save our clients more than $7,000 on average of each real estate transaction. That is providing the same or in some cases more and better services than the big name real estate companies which translates in to real savings to your for what ever you want to use the money for. So why in the world would you continue to use a 6% realtor? The Sunshine Realty testimonials are real sellers and would be happy to tell you about the great experience they had with Sunshine Realty.
For many people this can be a true nightmare but it doesnt have to be if you are working with an experienced realtor. If your in this situation then you know that timing and money are two critical issues. What you do or dont do, can affect whether you have a successful sale and purchase of your next home.
First things first, must sell that home. Pick an experienced, local realtor and get your home on the market as soon as possible. Delaying listing your home will result in a shorter time-frame to get it sold. When you’re in a situation that has some very particular time constraints, you might find that it’s not always all about the price. Sometimes a slightly lower offer may be the one that offers greater flexibility and just what you need when it comes to the closing schedule. Ultimately, selling and buying a home is a lot to handle but it can be a smooth transition if you are prepared. So...being clear about your time frame, new home purchase price, and any other details that are specific to yours and your family's needs will make the move go much smoother on everyone involved.
All of the real estate optomists say the market will eventually catch up to the historical trendline with larger-than-average price appreciation. Record low mortgage rates will make homes even more affordable for those with the means to borrow. Put the two factors together, and buying a home might be an incredible bargain as long as you're not looking to make any quick profits from it.
The savvy St. Louis Metro area buyer pays more attention to slow growth and debt reduction. The savvy buyer knows that the carefully cared for property will fetch a good price when the time to sell comes. The savvy buyer knows you cannot participate in the gains unless you are in the market.
The old adage to buy when everyone is selling, and sell when everyone is buying continues to hold true in our area and surrounding cities, too. Prices and interest rates are at record lows. If your looking to buy, don’t wait and get left out in the cold.
The trend in firming home prices solidified in the second quarter with more metropolitan areas showing increases from a year ago, aided by a surge in home sales driven by the home buyer tax credit, according to the National Association of REALTORS®.
In the second quarter, 100 out of 155 metropolitan statistical areas (MSAs) had higher median existing single-family home prices in comparison with the second quarter of 2009, including 14 with double-digit increases; two were unchanged and 53 metros showed price declines. In the first quarter of this year 91 areas had higher prices, while only 26 MSAs experienced annual price gains in second quarter of 2009.
Selling your home is an involved process that affects your family and your future. Before you begin this process, you'll want to ensure that you have the most up-to-date information. When should you sell? How do you get the best price? What kinds of renovations should be made prior to the sale? Our home selling consultation will assist you in answering the many questions that arise during the home selling process. When you're armed with the right information, have an experienced real estate professional, you'll be closer to reaching your goal, avoiding costly mistakes, selling your home fast, and for the best price.
The deadline for tax credit closings has finally been granted an extension. The extension applies only to transactions that have ratified contracts in place as of April 30, 2010, that have not yet closed. The legislation is designed to create a seamless extension; the new closing deadline for eligible transactions is now September 30, 2010. There will be no gap between June 30 and the date the President signs the bill into law. Extending the tax credit closing deadline will help provide additional stability to real estate markets across the nation.
You love your home but when it comes time to sell, you have to share the love. In the other words, you have to make your home be seen in the eyes of potential buyers as their home. That can be tricky. But if you do some of the basic things such as clearing clutter, creating light, bright, and open space, adding curb appeal, removing personal items (family photos, trinkets), fresh paint, and clean or new carpet, you'll be on your way to attracting serious buyers.
Let’s take a look at specific areas that create widespread appeal inside the home. Some of the top areas to improve: countertops, flooring, built-in furniture, and old-style attached fixtures such as those big sheet mirrors in the bathroom. However, when making these improvements, there's one important consideration. Functionality is the greatest concern cited by homeowners. "The functionality of a home is very important, especially over the long term, as many homeowners in this economy have opted for remodeling over moving to new homes.
So let's explore these areas and see how improving these items can lead to greater interest in your home. Countertops are fixtures in homes. So making sure that you select the best material to endure the daily wear and tear is important. If we're talking about the kitchen, for instance, there are many options: granite, tile, recycled glass (for a green option), solid steel, composite stone, butcher block, laminate, and even concrete. Yes, that last one sounds surprising but concrete is being used for countertops and laminate isn't necessarily trying to mimic other materials anymore. Instead, homeowners are embracing laminate's own unique high-tech look. The popular trend is a mixing of several styles creating a blended custom look for the kitchen. But in the end, functionality will rate highest for potential buyers. All of the countertop materials mentioned above have advantages and disadvantages when it comes to maintenance and usage; make sure you completely research the material before selecting it for your home.
Fixtures are an important area to improve. These days, quirky, eclectic styles from international trends are becoming more prevalent in the
Flooring is a big interest for buyers. Wood floors are still very popular. Many Realtors say buyers are looking for hardwood floors. That's partly because they endure and don't go out of style. However, if they're damaged it can be a drawback because buyers may focus on how much work it will take and cost to do the repairs.
Built-in furniture can improve a home. Built-in bookcases and entertainment centers can save space and help make the room look larger. However, there's a downside. Built-in furniture isn't easily movable. So, potential buyers will have to really find the furniture useful and suitable for their needs. "It's all about personalization; homeowners want to know that their space can be converted easily into a different space in the future. That's what buyers want as well—the ability to make your home theirs, when the sale closes.
Here is good news for ALL....The national median existing-home price for all housing types was $173,100 in April, up 4.0 percent from April 2009. Single-family home sales rose 7.4 percent to a seasonally adjusted annual rate of 5.05 million in April from a pace of 4.70 million in March, and are 20.5 percent above the 4.19 million level in April 2009. The median existing single-family home price was $173,400 in April, up 4.5 percent from a year ago. Single-family median prices rose in 18 out of 20 metropolitan statistical areas reported in April from a year ago; six of the areas experienced double-digit increases. We are all starting to see real estate moving again and that is good news for everyone!
Even though the tax credit has expired, interest rates remain low which means it is still a great time to buy and sell. This is the standard peak of the real estate market season. Schools will be out soon and families will be planning their move to their next dream home. Sunshine Realty is available to provide you with expert representation whether buyer or selling. Call us today!
Interest in purchasing a home as an investment has more than tripled in the last year, according to a survey released today by Move Inc., which operates Move.com and REALTOR.com. More than 17 percent of potential home buyers say they plan to purchase a home in the near future as an investment, compared to just 5.6 percent in March 2009, the survey found.
Here's the good news for sellers:
- 21 percent of consumers report they plan to purchase a home in the next 12 months to five years.
- 7.9 percent plan to purchase in the next two years.
- 49 percent of all home owners would buy another home today if they could sell the one they currently own for what they paid for it.
Source: Move Inc. (04/13/2010)
My name is Evelyn Krazer, founder, owner and broker of Sunshine Realty. Owned and operated locally in Lake St Louis, I started Sunshine Realty as a non Traditional Real Estate company for sellers who are tired of paying 6% commissions. Like a traditional realtor, I promise to provide Full Service, but unlike a traditional realtor, for approximately half the cost saving you thousands of dollars in commission.
With 10+ years experience as a real estate Broker, I know what buyers and sellers need in today's market. Having represented, negotiated, purchased, and sold hundreds of properties, I have the expert knowledge and experience it takes which means BIG savings to you. Along with saving you money with my lower than traditional fees, I will also provide more extensive, mass internet marketing as well as more professional and experienced representation in most cases over other agents that just handle a hand full of real estate transactions per year.
Dedicated to personal service, I will do what ever it takes to make my clients happy! I am not happy until you are!!