Neja Fedrigo

Associate Broker

COLDWELL BANKER

Weir Manuel

nfedrigo@cbweirmanuel.com

 Office: 734-930-0200

 Fax: 734.930-0552

  

 

 

 

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We can Help you Sell

HomeListingsBuyingSellingHome ValuesCommunity InfoMortgage InfoAbout Me

To help you in the selling process

  1. House Prices Comparison

  2. Selling a House in a Buyer's Market

  3. Tips to Help You Sell Your House Faster and For More Money

  4. Looking Through the Buyer's Eyes

  5. Which Renovations Truly Boost House Value

Selling a Home | More Tips to Sell Your Home

Selling a House in a Buyer's Market

Although home appreciation has leveled off in some markets, sellers can still get good prices for their houses.
If you need information about short sale, please let us know. Our company has a very successful short sale department.

Price Your House According to the Current Market.
Ask several agents how much they can get for your house. If one gives you a much higher price than the others, be cautious: the agent may be suggesting an unrealistically high asking price. This practice is unethical and costs you time and money. Interview at least three agents. They all should back up the suggested listing price with comparable sales data. Working with your agent, determine the appropriate, competitive listing price for your house.
 

Traditionally, pricing your house 5% below the price of the competition attracts more buyers. Some sellers shave 15 to 20% off the price and receive multiple bids. Sometimes buyers bid up the price over what it’s worth. If you don’t want to risk, just price it right to gain the attention of buyers. If getting less money for your house is disappointing, think of the costs associated with maintaining the house, if it sits on the market for several months at an unrealistic asking price.

Further, if your house enters the market overpriced, many buyers will overlook it because it will be out of their range. By the time you reduce the price to fair market value, many potential buyers will have already bought another house.

If you want to get top dollar, you have to be the top house in your neighborhood. Check out your competition and make sure you're ahead of the pack.

Make Your House More Marketable.
When a buyer sees your house for the first time, a critical first impression is made. If applicable, maximize curb appeal by trimming trees and planting flowers. A fresh exterior coat of paint might also prove valuable.
If possible, buy at the paint store scent packets to add to the paint before you paint the walls. As time goes by, they will gradually release the scent. Consider neutral colors for interior walls and carpets to make the rooms look larger.

Maximize the light in your house. Open up blinds and draperies to make sure there's sufficient natural light throughout the house, clean the windows, change the lampshades, increase the wattage of your light bulbs and cut the bushes outside to let the sun shine in.

Conduct a Full Home Inspection.
Potential buyers will cast an extremely critical eye over your house and, in a situation when many houses are available on the market, they may take a pass on a house that needs too many repairs. Be sure to have the house inspection report available for prospective buyers itemizing all of the repairs that have been made and the associated cost for each.

Repair squeaky doors, chipped or smudged paint, broken fixtures, etc. Remember that people will look in your cupboards, under your sinks and in your closets. So, organize your closets to show off storage space. The more space buyers see, the larger the closet will look. Clear out excess items, and organize the shelves to show off how much storage you have.

Pay particular attention to odors. Before a showing, open up all of the windows and air the house out. Boil cinnamon, bake cookies, bake bread — do anything you can to have the air smelling fresh and clean.

Make potential buyers fall in love with your house from the street by adding plants, flowers, power-washing patios and walkways, weeding the garden and mowing the lawn.

You only have one chance to make a good first impression. Make your entryway welcoming by putting in a small bench, a vase of fresh-cut flowers or some freshly baked cookies, if possible.

Your house needs to be "show-ready" at all times – you never know when your buyer is going to walk through the door. Don’t leave dishes in the sink, keep the dishwasher cleaned out, the bathrooms sparkling and make sure there are no dust bunnies in the corners. It may be a little inconvenient, but it will get your house sold.

If you’ve spent time, money and energy transforming your house into your home, you may be emotionally involved, and have sentimental feelings for your house. However, what you think your house is worth shouldn't be a factor in determining your listing price. Stay objective by focusing on statistics generated by the CMA.

Don't be personally offended by lowball offers. Think of them as the starting point of a negotiation that could result in the sale of your house.

Make a full-price counteroffer, if your comps can back it up. Approach each offer as an opportunity to negotiate. Some motivated sellers offer financial incentives that don’t require cash out of their pocket.

 

Offer a Sellers Contribution.
A seller can sweeten the deal by offering assistance to the buyer in ways that do not require lowering the asking price. These tactics can help your house to stand out from the crowd.
Cautiously consider some counteroffer strategies:

1.
Seller financing: You finance some or all of a buyer's mortgage.

2. Offer to  pay points to lower the buyer's interest rate. Buy down the interest rate on the buyers mortgage.
3. Offer to pay a portion of the closing costs.

4. Offer to pay off a buyers bills. Some loan programs allow sellers to pay off the credit card debt or auto loans of the buyer which will help him or her qualify for a better mortgage and prevent the need to buy a smaller, less expensive house.

5. Prepay taxes or insurance for a year.
6. Cover the buyers mortgage payments for up to the first six months. Depending upon the size of the mortgage, the buyer can save several thousand dollars and the seller still gets the original asking price for the house. It is generally more financially advantageous to do this than dropping the asking price by $30k, $20k, or even just $10,000.
 

7. Many condos and houses across the country belong to homeowners associations that require annual dues.

Paying the first years fees could be a big incentive to a buyer nearing the limit of his or her liquid assets.
 

Offer a Home Protection Plan.
Houses with home warranties sell 15% faster, sell for a price 2.2% higher and are 29% more likely to sell.* With so many houses for sale in the real estate market, you need a competitive edge.

 

A Home Protection Plan gives you that, while offering convenient, dependable service when you need it most helping to protect you from the expense of unexpected house repairs.

A Home Protection Plan also applies to the house once sold, alleviating the hassle of house repair for the buyer.


Properly priced houses that stand out from the competition are selling.
 

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Tips to Help You Sell Your House Faster and For More Money

Outside

* Mow and water the lawn.
* Trim trees and plant flowers.
* Store all bikes, toys and equipment out of sight.
* Paint or touch-up the outside of the house.
* Put potted flowers in the front.

Inside
* Get rid of unnecessary furniture.
* Clean closets and clear off countertops.
* Scrub all tile floors.
* Clean all carpets.
* Clean all windows and mirrors.
* Clean stains in all sinks and tubs.

Fix-It
* Fix leaky faucets.
* Replace missing door or cabinet handles.
* Fix or replace broken appliances.
* Replace broken tiles in bathroom or kitchen.
* Paint if necessary.
* Discuss major repairs with your Sales Associate.

Freshen Up
* Empty all trash, recycle bins, etc.
* Dry-clean drapes and shampoo carpets.

* Bathe pets and clean out litter boxes.

* Stop smoking in the house.
* Use baking soda boxes in smell-prone areas
* Place flowers, potpourri,  vanilla, apple pie air fresheners


Ask the opinion of a  "buyer"
* Invite a friend to walk through your house like a buyer would. Get their opinion on whether or not it's inviting, clean and well-maintained. Make any changes they suggest.
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Looking Through the Buyer's Eyes
Below are questions to ask yourself when preparing your house for sale to ensure it looks the best it possibly can in the buyer's eyes.
 

Exterior
* Does your yard look well maintained?
* Are the trees and bushes trimmed?
* Is your lawn mowed and edged?
* Is your lawn free of weeds?
* Are the decks and patios clean?
* Does your house need painting?
* Are there any exterior holes or cracks?
* Are your walks and porches clean and in good repair?
* Does your roof leak or sag?
* Are any shingles or tiles missing?
* Is your chimney in good shape?
 Interior

Carpeting/Walls/Ceilings
* Are your carpets clean and in good condition?
* Do your carpets need stretching?
* Are there any pet or smoking odors?
* Do your walls have any cracks or holes?
* Do your walls need painting?
* What about that wallpaper?
* Do your ceilings have any water stains, cracks or peeling?
* Do your ceilings need painting?

Kitchen
* Are your appliances clean and in good working order?
* Are your cabinets in good condition?
* Are your countertops in good condition?
* Is your tile grout clean?
* Is your sink stained, chipped, or in need or re-calking?

 

Bathroom
* Do your faucets shut off completely?
* Do your sinks drain freely?
* Are your toilets in good condition?
* Are your shower doors shiny?
* Do your tubs need caulking?
* Is your floor in good condition?
* Are your vanities and mirrors in good condition?
Living Room
* Is your fireplace clean?
* Is the fireplace screen in good shape?
* Are all drapes, shutters and shades clean and working properly?
* Are any window screens bent?
* Do all the windows open and close easily?
* Are the windowsills clean?
* Are your doors in good condition?
* Do any doors sag or stick?
* Do the locks work?
* Is the paint in good condition?
* Do the doors seal tightly?

 

Basement/Attic
* Is your basement/attic organized?
* Are they well lit?
* Are they clean?
* Are the stairs in good repair?
* Do the doors open and close easily?
* Are there any signs of insects or rodents?

Garage
* Is your garage organized?
* Is it well lit?
* Is the floor swept?
* Are there oil spots or other stains on the concrete?

Which Renovations Truly Boost House Value?

 

Renovations can be the determining factor in a sale. Homeowners are spending more than ever on remodeling. But which renovations truly increase the market value of a house, versus those renovations that increase the comfort of a home's inhabitants?

 

Kitchens and bathrooms tend to top the list for remodeling.

There are other improvements that might increase the marketability of a house, but won't necessarily increase its sale price. Two improvements many homeowners choose to add are upgraded landscaping and swimming pools. Both of these, however, won't necessarily add value and, in some cases, can deter potential buyers. For example, homeowners can pay between $2,000 - $15,000 for the same landscaping job, but a home buyer may not be able to tell the difference regarding the amount of money spent. Furthermore, that beautiful landscaping might be covered with snow if the house is put up for sale during the winter months or it might become frail and brittle-looking during a too dry summer. Homeowners who are looking to add an in-ground pool should view a pool as an investment in quality of life. The value of a pool is measured more in terms of the enjoyment of having one as opposed to measurement of a good return. While in some areas of the country, pools can limit the number of potential buyers, in warmer climates pools can often help attract offers.

  

In addition to large renovations, there are options for those seeking to make improvements for a quick sale. Interior and exterior painting can dramatically refresh a tired-looking house. Use popular colors that are appealing to most people.  New windows, siding and gutters will add to its curb appeal, and help you get offers sooner.  Caution: A full-price offer with contingencies that will be difficult to meet may hold less value than an under-list-price offer with no conditions.

Do you really wish to sell?  Can you remodel and stay, or rent out your house? If you need financial help, please visit Making home affordable.gov and

Home Affordable Foreclosure Alternatives (HAFA) Program if helpful, also visit Avoiding foreclosure. If you need more information, contact us

Seller's Advantage

For more advice and detailed guidance, contact us click here

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About Me  
                 

   

 

 Neja Fedrigo

nfedrigo@cbweirmanuel.com

Office: 734-930-0200
 Fax: 734.930-0552