Tag: real estate

Why It Does Not Make Sense To Buy Direct From The Homeowner

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P: terencetait.ca

P: terencetait.ca

When searching for a home you are going to come across For Sale By Owner properties, either while looking online or driving through a neighborhood you’d like to live in. You may think that buying direct from a seller should be much simpler than involving real estate agents, but FSBOs offer their own set of challenges.

Before you take the plunge into purchasing direct from the Homeowner there are a few factors to consider:

  1. The Homeowner is not required to disclose any information that is not in their best interest. They may have immediate answers to all of your questions but they do not need to be held accountable for any misinformation or “fluffing” of the facts.
  1. Homeowners who are selling on their own have lots of time on their hands. They are in no rush to sell and will hold out for the highest price possible, even if it means waiting two or three years.
  1. The Homeowners typically overprice their property. They are not saving you any money. They are saving themselves a fee for service that Realtors charge for selling the house and adding it to their side of the transaction. Many buyers fall in love with the “by owner” and are willing to overpay for the property.
  1. You will feel pressured not to give the Homeowner accurate feedback about the property. Homeowners will try to convince you that their house is the best ever. They will take you through every nook and cranny to show the value of their house. It just isn’t human nature to give a truthful opinion to a Homeowner.
  1. You never know if the Homeowner is really interested in accepting your offer. Many will tell you they have “another interested party” or an “out-of-state buyer” that is chomping at the bit to buy their property.
  1. The best properties are listed with a Realtor who has taken the time to make sure all of the proper Seller Property Disclosures and inspections are in order.

With so many drawbacks to buying direct from a homeowner, it makes sense for buyers to focus on homes sold by agents. As a buyer it only benefits you to have a Buyer’s Agent (read our previous post on Why Do I Need A Buyer’s Agent) who will walk you through the entire purchase process from putting in an offer to closing – and make sure that you are getting the best value for your money.

The Importance of Home Staging

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We here at The Weaver Team are strong believers in the power of staging – you only have one chance to make a first impression and it’s important to create a positive impact on buyers the moment they enter a room!

Unlike interior decorating that makes a home appeal to its homeowner’s unique tastes, home staging makes the home appeal to a variety of tastes. The goal is to draw the eye to the best features of the home, and improve any weaker elements.

BEFORE

BEFORE

AFTER

AFTER

The very first rule of staging is DECLUTTER! You want prospective buyers to see how much space your home offers, not how much stuff you have filled it with. Start by removing items you have no use for, if it’s been sitting in the basement unused for a year, it’s probably time to get rid of it. Separate items into piles to sell, donate, and store. If you don’t have a basement or garage to store items, rent a storage unit.

Updates as simple as rearranging furniture or adding new decor can make a world of difference. If you have very large furniture pieces, it’s best to remove them from a room all together to make the space look as large as possible. Also try floating furniture away from the walls and arrange sofas and chairs in conversational sets – this will open up the room.

BEFORE

BEFORE

AFTER

AFTER

In some cases, you may need to take it a step further with paint and/or installing new fixtures. You may be thinking, ‘What’s the point in painting when the new owner will just come in and paint on their own?’ Buyers are fickle, and most cannot see beyond a simple fix like paint, or even your personal decor. Remember – you want your home to appeal to a variety of buyers, and while you may love your elegant eggplant dining room, it may be a major turn off to buyers. Stick with neutral paints for your walls and update any brass fixtures that tend to make a home look dated.

Can’t get enough of home staging tips? Like us on Facebook – we post a Tuesday Tip every week!

It’s All About Location

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100_3644It’s all about location and lifestyle. Do you see yourself living in this house? When you walk into a house for the first time you will have an immediate reaction, “Yes! This is what I’m looking for” or “Ick! Who picks that color for a countertop?” Many objections relate to cosmetic issues. Appliances, countertops, vanities, toilets, floor plans, lights, even floor plans can be changed.

As fans of all HGTV and FYI network shows, The Weaver Team at KW Vermont stays up-to-date on trends all over the country. We are especially attracted to shows that feature “fixing up.” From Love It or List It to Flipping Boston the theme of the shows is to increase the value of the house through renovations. Love It or List It, though, also focuses on whether or not the current homeowners will stay in their current house (post renovation) or sell their current house. These Canadian homeowners are trudging through the snow to see if they can be persuaded to list and move. More often than not the homeowners “Love It” rather than “List It” due to the main factor of location.

Before kitchen remodelThe homeowners love their neighborhood. They love the proximity to amenities. They feel comfortable where they live. They enjoy their lifestyle. What they don’t “love” is the outdated floor plans and lack of updated decorating. Not to sound cliché, but in real estate location is everything. After kitchen remodelWhen looking at houses it is important to look beyond the items that need updating, changing, or fixing to accommodate your needs. As evident in these “fixer” programs, you can change just about anything to suit your tastes, however, you cannot “fix” the location. Depending on your priorities, say, Green Mountain views for here in Vermont, you are limited to the number of houses that meet that criteria.

When you find a house that meets your criteria such as views, schools, size, price, access to amenities, etc. then you need to think like the “Love It” part of the show. If the house is in your desired location and meets your requirements in almost all categories then you should purchase it and focus on changes that you will make to suit your taste and lifestyle. So, look at that house that doesn’t quite meet your living needs, decorating taste or ideal floor plan, then imagine the possibilities.

Is Fall A Good Time To List?

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P: guardiancarpetcleaning.com

P: guardiancarpetcleaning.com

The question that crosses every seller’s mind – when is the best time to list? Spring is the busiest season for buying and selling, so most sellers think it’s best to wait to list their home. But what if you need to make the move now? Good news – fall is the 2nd busiest season in real estate!

Buyers looking at homes in autumn tend to be more serious and motivated to move than the numerous window shoppers that come out in spring. There are many reasons – job relocation, downsizing, change in family status, etc. and most want to buy by the end of the year.

Fall offers certain benefits to home buyers including:

Year-end tax breaks – Both mortgage interest and property taxes are deductible from gross income, so purchasing a home and making a payment prior to year’s end will give you an extra deduction. In addition, if you have prepaid some interest prior to your first payment, that interest can also be deducted.

Pleasant weather – Fall is an ideal time to plan a move, the weather has cooled from the heat and humidity of summer and you get out ahead of the freezing temps and icy conditions of winter.

Broad selection of homes – With a bit less demand than spring, buyers will find a wider array of homes available in the fall, increasing the odds of finding the perfect property.

P: betterdeco.blogspot.com

P: betterdeco.blogspot.com

A bonus for fall sellers – autumn decorations and colors will make your home feel more inviting and warm to potential buyers. Put some brightly colored mums and pumpkins on your front porch to up the curb appeal. Add a couple gourds and colored candles to your dining room table or fireplace mantel. Always remember to keep it simple – people hate clutter!