Tuesday, November 5, 2013

Questions to Ask Your Home Inspector Before Buying Your Home

When you buy a home, you need to know exactly what you’re buying. Imagine how frustrated you’d be to find out that the hot water heater wasn't working—in the middle of a shower! This is why you should have a home inspection before you buy your home. A home inspection is an important part of buying your home. Before you hire a home inspector, ask candidates a few questions to make sure you hire a trustworthy inspector.
  1. What does your inspection cover? Not all inspections are the same. Ask for copies of previous home inspections so you can see exactly what they will check inside the home. If you are concerned about something specific, like a leaky faucet in the bathroom, mention that to the inspector so they can check it out.
  2. Are you licensed or certified? If you live in a state that licenses home inspectors, ask to see their license. At the very least, choose a home inspector who belongs to American Society of Home Inspectors. This shows a level of professionalism and education that you can trust.
  3. What kind of report will you give me? You should expect a written report detailing what the inspector found. Most inspectors will give you a typed report within a week of the inspection. Make sure the inspector will be available to explain anything on the report that doesn’t make sense to you.
  4. Will I be able to attend the inspection? If the inspector refuses to let you be present during the home inspection, find someone else. This is your chance to know exactly what you are buying and what potential repairs you or the seller will have to make.
As your real estate agent, I will guide you through the home buying process. Let me help you find your new home. Call me today at 203-858-1051 or email me at Chris.Perisanidis@cbmoves.com. 
 LINKS:
  1. Home inspection - http://en.wikipedia.org/wiki/Home_inspection 
  2. American Society of Home Inspectors. - http://www.ashi.org/ 
  3. Easy household repairs. - http://home.howstuffworks.com/home-improvement/repair/5-home-repairs-you-should-do-yourself.htm

Tuesday, October 22, 2013

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Tuesday, October 15, 2013

Architecture, interior design, and more ∨

Hire a decorator to find that just-right couch and coffee tables for your living room.
For small bathroom ideas, browse photos of space-saving bathroom vanities and clever hidden recessed medicine cabinets.

Wednesday, October 2, 2013

10 Tips to Make More Money from the Sale of Your Home

Alright, so you’ve got the house on the market, and you’re just dying for that first visitor to come and take a look.  You think your house is great, but your viewers seem less than impressed.  The next potential buyers seem the same, as do the ones after that.  What’s the problem?  Well, it could be any number of issues from a cluttered look to lackluster curb appeal.  Luckily for you, your hard-to-please-viewers situation can be easily rectified with a little bit of time and effort.
The fact is that there aren’t very many homes around that don’t need at least a minor facelift before they go on the market for sale.  It’s imperative for you to quit thinking of your house as your home, but rather as an investment that is going to provide a great return.  That is, it can provide a great return if you can persuade someone to buy it.  Well, my friend, you are in luck!  That’s exactly what I’m going to help you figure out how to do.
Before we get into the nitty-gritty, I want to make certain that you understand a couple of things about selling houses.  Number one, your target consumers, your location and your actual existing structure have a lot to do with the market value of your home, among other complicated factors.  Some of the following suggestions work quite well across the board for pretty much anyone selling their home, such as painting.  On the other hand, some work better for specific sets of people.  


As such, don’t feel compelled to drop a ton of money on a project that might raise the value of your home, but that no one in your area is willing to spend money on.  Does that make sense at all?  For instance, a basement can greatly raise the value of a home, and some buyers are willing to pay more for that particular finished room according to the National Association of Realtors.  That’s great news for folks with existing basements.  However, if you live near an area where basements are virtually impossible to build, don’t go into the throws of grief because there’s no way you can possibly make this improvement.  Trust me; people in your area aren’t dead in after basements anyway.  We’ll find something else that buyers where you live are looking.   That will, in reality, increase the value of your home. 
Solid Tip # 1: Spotless is the Name of the Game
Seriously, the single most important task you can tackle to easily increase the salability of your home is to do a thorough, deep clean on it.  You can hire someone to do much of the hard labor for you, but there are some things that you alone can handle.
By deep clean, I don’t mean to vacuum the cheese puffs out of the floor, and then also empty the vacuum cleaner into the garbage.  No, ma’am.  No, sir.  A deep clean goes much further than this, although I pat you on the back for your efforts.
Decluttering:  Begin with decluttering.  We’re going to use the standard rule of thumb here.  You need to go through your home and literally get rid of 50% of your belongings.  Ideally, this would be items like photographs, highly personalized items, out-of-season clothes, random junk and excessive furniture.  

Now, don’t get all upset.  We’re not throwing out your precious pictures!  You can donate some items, yard sale a ton of items for extra cash, trash what’s no longer in its prime and store what you want to keep, like your photos.
Once you declutter, you’ll be surprised how much roomier and nicer your home feels.  The goal is to depersonalize it from your family so that potential buyers can envision themselves living there.  That’s difficult to do when surrounded by a whole other family’s massive amount of belongings.
Deep Cleaning:  Now it’s time to move on to some serious, hardcore cleaning.  You’ll want to meticulously tidy up each room from top to bottom.  It’s much easier to do this once you’ve removed half of your extra clutter, too.  
Make sure you don’t forget to:
  • Cobweb first, or you’ll get the dust bunnies all over freshly cleaned floors and furniture later.
  • Wash walls, unless you’ll be painting.
  • Clean all glass surfaces such as mirrors, television screens, patio doors and windows.
  • Dust ceiling fans and lighting fixtures while you’re cleaning out the cobwebs.
  • Polish all wooden surfaces, and wipe down any leather furniture.
  • Dust your blinds.
  • Clean out and reorganize the closets and cabinets.
  • Attack all appliances with cleaning fervor and make it count.
  • Sinks, toilets, tubs, showers, faucets and countertops need to be impeccable.  Although every room is important, the kitchen and bathrooms need to be topnotch, could-eat-off-of-the-floor quality.
  • Vacuum rugs, shampoo carpet and mop like your life depends on it.  Just make sure to attack these tasks last, or you’ll inevitably have to do them twice.

Solid Tip #2: Painting Provides a Prime Canvas
You should seriously consider repainting the entire inside of your home if you haven’t done so in the last year.  Even if you have painted in that time frame, depending on your color selection, it might do you a service to go ahead and repaint a second time.
Now, when I say repaint, I mean repaint everything.  Paint the ceilings.  Paint the trim and window casings.  Paint the doors.  Don’t forget inside closets.  And, of course, paint the walls.  The trick is that it is imperative that you paint the right way.
You see, everything you’re doing right now is so that the potential buyers who are viewing your home have the opportunity to see it as a blank canvas.  On that canvas they will begin painting the picture of their family in your home.  Now, once an artist sets out to create a new painting, he begins with a plain, primed canvas.  Through your efforts with painting, that is precisely what you seek to hand your viewers.  You’re hand delivering a clean, primed canvas wrapped up in four safe, secure walls.

Keeping all of this in mind, you should proceed with your home’s canvas using neutral colors, as well.  That doesn’t mean everything must be completely lifeless or stark white.  Rather, you want your colors to be unobtrusive.  So, stick with gray, beige, off white and white colors.  Even if you just painted the master bath turquoise and added the cutest polka dot trim, you really need to change it.  Remember, a blank canvas opens the imagination to endless possibilities.  Turquoise polka dots do not.    
Solid Tip #3:  The Kitchen and Bathrooms are Super Important
I wouldn’t dare lead you to believe that you could create stunning bathrooms and kitchens, leave the rest of the home a mess and sell your house for top dollar.  However, among all of the rooms in the home, buyers are most turned off by dirty, grungy bathrooms and kitchens.  
Let’s face it.  Nobody wants to eat from a place they feel is nasty.  Likewise, no one wants to be naked in a disgusting place.  That’s why you need to make sure that your bathroom and kitchen get the most attention first.  Viewers might forgive a less than stellar child’s room, but a questionable bathroom or kitchen is far more likely to cost you a possible sell.
Since you’ve already done your deep clean, and I know you did a fantastic job, you’re going to skip that step.  The same thing goes for painting.  In theory, you’ve already painted the whole house.  Those two little nuggets apply to each area of your home, including the bathrooms and kitchen.  Now, it’s time to move on to some other pressing issues, such as whether getting new appliances are a good idea or if doing so is just a money pit.


Should I Really Buy New Appliances?
Honestly, it really depends on you and your particular situation.  No doubt, new appliances make an impact with buyers.  Most surveyed buyers between 2010 and 2012 were very concerned with buying a home that featured new appliances according to the National Association of Realtors.  Only about 17% of these folks were very preferential to stainless steel.  It seems that the most important factor here is that there are appliances present.  Additionally, most buyers who were unable to get their sought after appliances said they would have been willing to pay, on average, nearly $2,000 more for them.
So, here’s the long and short of it.  Potential buyers want appliances included in their purchase.  They’re willing to pay more for them.  If you can afford to offer new appliances, it could be the very act that sets your house apart from the similar home that is for sale across the street.  On the other hand, if new appliances are a bit out of your reach, think of offering your used, but immaculately clean, fully functioning ones.
Updating Hardware
It often isn’t evident to you while you live in a home, but if you’ll take a nice, long look at your bathroom and kitchen hardware, you’ll probably notice that they look a whole lot used.  Well, that’s because they are.  It isn’t that big of a deal until you put yourself in a buyer’s shoes.  They’re looking at your old house as their potential new home.  Old, worn out fixtures aren’t going to speak to them the way that nice, shiny, new hardware will.
I caution you here.  Unless your knobs, pulls, handles and hinges are broken, there is no real reason to replace them.  That’s right.  You can get the same look that you’re shooting for, which is new and updated, by thoroughly washing and repainting them.  I’m not kidding a single bit.  There is actually spray paint made especially for this purpose, and the project is incredibly cheap.  
You can actually give the same painting overhaul to a variety of household hardware including, but not limited to, the list below.
* towel bars 
* toilet paper holders 
* door handles 
* hinges 
* old lighting fixtures
We want to patch your home up nicely with as little cash as possible.  This is one great way to do it.
On the other hand, if you do have broken or completely worn out hardware, then you’re better to replace the whole set unless you can find matching pieces.  Then you could cleverly paint the old and new to match.  Make sure that if you end up replacing your knobs that you get matching exposed hinges for cabinet doors and the like.  Consistency is a good thing when selling a home.
Other Excellent and Cheap Update Ideas for the Bath and Kitchen
* Buy a new toilet seat.
* Refurbish worn out looking cabinets with a faux paint project.
* Replace an old, ugly bathroom sink with a pedestal variety.
* Repair grout in tile backsplashes, floors and tub surrounds.
Solid Tip #4:  You Can Never, Ever Have Enough Storage
According the National Association of Realtors, a majority of recent home buyers would have preferred improved and greater closet space, as well as other storage opportunities.  People have lots of stuff, and they need somewhere to hide it all.  That’s what storage does, after all!  However, when there isn’t adequate storage available, their junk trickles out and clutters their lives.  That clutter can leave folks feeling claustrophobic.  Plus, everyone who comes over sees it.  No one buying a new home wants to willingly buy into that kind of embarrassment.
Now, it could be that you can potentially add closets to your home with ease.  If you can, that’s a huge bonus for you.  Really, building a simple closet isn’t all that difficult if you are even just moderately handy.  If you are selling an older home, closet space is typically at a minimum.  You can improve on it!  Give buyers great storage, and you’ve won their hearts.
However, putting in new closets isn’t always a possibility. For instance, if your rooms are already small, you might not want to take square footage away from them.  Or, you might not have the skills to build the closets yourself or the funds to hire someone to do it.  
It is in these very moments that we turn to closet organizers for help.  Now, you can certainly custom design your closet kit online through a place like ClosetMaid.  On the other hand, your standard superstore or hardware store often has exactly what you need in an inexpensive, pre-fabricated form.  Using organizers may not enlarge your closets, but it uses both vertical and horizontal space to maximize the usage of the space that you do have.


Now, don’t let me lead you astray by any means.  “Storage” is not restricted to closets.  Storage is actually all of your cabinets, clothes closets, linen closets, attic and basement space.  Storage goes much farther than just the closets in your bedrooms.  So, make sure that you organize your cabinets well, also.  The same places that provide closet organizers can help you with this, as well.  Don’t be afraid to add extra shelving in your laundry room or in the linen closet.  Wherever you can attractively and inexpensively add storage solutions will eventually be to your benefit.  Really, buyers love this stuff.         
Solid Tip #5:  Bedroom Addition Trick
One thing that adds tons of extra value to most homes is adding another bedroom.  Okay, before you start laughing really hard at me because I seem to be claiming that adding a whole other room to your house can be relatively inexpensive, let me explain.  
I didn’t say you should add square footage to your home, simply another bedroom.  “Now, how are you going to manage that?” you ask.  Well, the sole factor that determines if that extra junk room in your home is a bedroom is simply whether it has a closet or not.  That’s right.  All it takes to make your den, your office, your spare room, your attic or any other odd room into a third or fourth bedroom is the addition of a closet.
Wait Just a Minute, Please
Now, before you get yourself started on building new closets, and thereby new bedrooms, keep this little piece of information in mind.  If you are in a neighborhood that boasts mainly 3 bedroom homes, and these are selling well, a fourth bedroom might give you a real advantage.  However, if you live in an area where people are seeking one or two bedroom homes, what actual good is a fourth bedroom going to do you?  That’s when this project becomes a waste of your money.
Ask your real estate agent’s take on this.  If your agent seems unknowledgeable, or if you don’t have an agent, I’d be happy to help you determine whether or not you’d benefit from a simple bedroom addition.  Assuming that your location is conducive to such a move, and you need a significant boost to your home’s worth, adding another bedroom is one great way to do it.  As long as you’re just transforming an already existing room into a bedroom through the addition of a closet, this is a very inexpensive way to up your value quickly.  You could also revamp a basement or attic for this project.
Solid Tip #6:  Mechanical Maintenance  
It is very easy to get wrapped up in the more eye-pleasing aspects of getting a home ready for sell.  However, one factor that should never be overlooked is the upkeep of all of the mechanical aspects of your home.  
Mechanics Worth Looking At
* electrical boxes and wiring 
* natural gas lines
* plumbing 
* central heating and air system  

If these pieces of your home are old, outdated or not working properly, you can pretty much count on lowering your home’s price significantly.
As a matter of fact, according to the National Realtor’s Association, 65% of home buyers who were surveyed were very concerned with whether or not their new home had a central air system.  On this survey, there were 31 features inquired about, and this was the most important one across the board.
 People buying homes do want to purchase something that reflects their aesthetic tastes and their lifestyles.  However, they also want to buy a home that is safe and sound.  Faulty electrical systems don’t provide that.  Neither does leaky plumbing that induces mold infestations.  No, these mechanically natured areas are not necessarily entertaining or fun to improve on, but extremely necessary.  Plus, if these areas are overlooked, you could run into some real trouble with inspections and appraisals.
 Obviously, these particular home updating projects should be left up to the professionals.  Simply have a certified plumber come in and check over your entire water system for leaks.  Hire an electrician to check out your wiring.  Consider having antiquated wiring and plumbing replaced.  No, this isn’t cheap, I’ll admit.  Your natural gas supplier can double check the mechanics surrounding your tank and lines.  Contact your local HVAC company and have them provide a thorough service on your heat pump. 
 Buyers love a house that’s been worked on and updated beautifully.  However, they love safe, secure homes for their families even more.  Take care of these mechanical odds and ends, and you’ll see profit from it.  If you would rather not tackle some or all of these areas, and you do have mechanical issues, dropping your selling price might remedy the situation for you.  Then again, it may not.
Solid Tip #7: Handling the Carpeting and Flooring Debacle
Floors are not only something that buyers notice in your home, they can be quite expensive and difficult to replace.  And, the truth of the matter is, that you might not even want to replace them.  You see, putting down new floor coverings of any kind, whether it be carpeting, hardwood or vinyl, can get pricey depending on the size of your rooms and the flooring medium used.  That’s why, if there is any way in the world to get around replacing it, you absolutely should.
Carpeting
Hey, everybody’s carpet takes a beating.  Pets, young children, muddy shoes, cups of early morning coffee all have up close and personal acquaintances with your rugs.  And, it is very, very evident, too.  There is no way that a good vacuum is going to handle this mess.
  
  • Shampoo: Luckily, you can either rent or purchase a carpet shampooer fairly inexpensively.  Now, if your carpet just needs a good washing and doesn’t necessarily have set in stains, this is a great place to start.  You’ll need to move all of the furniture from the room you’re working on, and simply follow the shampooer’s instructions.  Make sure that you don’t walk on the carpet again until it’s completely dry.  You should see a significant difference in both the smell and look of your carpet.
  • Steam Clean:  Now, it might be that your rugs need way more juice than a regular carpet shampooer can offer.  You need to step up your game a little bit, and go with a good steam cleaning.  You can either rent a steam cleaning shampooer, or you can hire a professional carpet cleaner such as Stanley Steemer.  Yes, this is a little more expensive, but it can also make a tremendous difference in your carpeting.  What the steam cleaning doesn’t remove, cover with rugs.  

Don’t take me wrong.  I’m not encouraging you to be dishonest at all.  If your carpet is in bad enough shape that a steam cleaning doesn’t take out all of the stains, it will be evident that the carpet needs replacing to buyers.  Area and throw rugs can just make it a little less unattractive.  
* Why Not Replace It? I know what you’re thinking.  You’re thinking to yourself that you probably should just replace your carpet, but that really isn’t a great idea most of the time.  First off, replacing carpeting is very, very expensive for most people to fit into their budgets. 
Additionally, it would be an absolute shame if you went through the trouble of re-carpeting only to discover that a family loved everything about your house but the new beige wall-to-wall rug.  
My advice to you, in the event that your carpeting is severely stained and worn out, is that you do the best with it that you can.  Clean it and put down rugs.  Keep it vacuumed.  Stop the kids from eating and drinking on it effective immediately.  Pets need to find rooms with slick floors for easy mopping to roll around in.  Do everything you can to keep this carpet from getting worse, and your efforts will be evident and pay off.
Now, if a buyer loves everything you’ve done in your home, except for the ugly carpeting, they just might overlook it.  They may try to negotiate a lower price or ask for a flooring allowance in your contract.  I’ll admit that isn’t ideal.  But, you have to spend less money and do less work right now.  That counts for a whole lot when the cash just isn’t available, or when it would be wasted anyway.
Other Flooring Types
Really, you should take a similar approach with all of your floor types.  If you have tile that’s a little worse for wear, clean it thoroughly.  If that doesn’t work, have it re-grouted.  Take tiny steps until you find the right fix.  Your hardwood floor can probably get by with a good wax.  Does your linoleum shine when you use a really good mopping solution on it?
 There are some instances where you might feel your only option is to replace your flooring, but again, this should be a last resort.  In the event that all your floor really needs to look great is some tender, love and care, work on that baby until in gleams.  On the other hand, if it is cheaper to replace your floor than to repair it, go ahead and put in a new floor covering.  Or, if your current flooring has holes or is otherwise damaged in irreparable ways, consider replacing it.  You might consider your less expensive flooring options, too.  For instance vinyl self-stick tiles are inexpensive, very easy to put down and it is a breeze to replace damaged pieces.
 Solid Tip #8: Let Your Light So Shine
Lighting is most definitely an essential element to consider updating in your home when preparing it for sale.  Like with the flooring situation, this is one area that you want to address with an eye to repairing what you can and replacing only what is absolutely falling apart.   Just remember to be moderate and practical with your updates.  

The National Realtor’s Association shows that many home buyers actually replace lighting fixtures early on in their new homes.  For this reason, we should really consider making our lights look as nice as possible without going too overboard.  We know that most new owners will likely make some changes to complement their personal style, and any expensive replacements we make might just be wasted.
If you so choose, you can refurbish the good light fixtures that you have.  Simply use the same spray painting principle as you did on your handles, pulls and knobs.
  • Try new globes for an updated look.
  • Make sure lights that you aren’t updating are impeccably clean.
  • Consider changing old, haggard ceiling fan blades with inexpensive ones which can be bought at any hardware superstore.
  • Do replace any light fixtures that are broken, damaged or dangerous in any way.

  • Feel free to purchase new light fixtures any time repairing an old one would cost more than replacing it would be.
  • Don’t forget the outside lights, as well!
  • Purchase new fluorescent light bulbs and disperse throughout your entire home to brighten the place up.

Great lighting is important when showing a home.  When your potential buyers can get a really good, bright look at your house they feel as though they can trust you.  Also, bright lighting makes an area look more open and attractive!
Solid Tip #9: Front Entrance Revamp
Alrighty, my friends, it is time to take a step outside of the house and onto your front lawn.  Don’t feel bad if you’ve gotten so wrapped up in updating and improving the inside of your home that you have neglected the outside.  It happens to all of us.  But, it is now time to rectify the situation quickly and effectively.
  • The Lock and Knob:  We’re going to begin with your front entrance.  I suppose you could call what you’re about to do to your door knob and lock subliminal messaging.  Take a hard look at your doorknob.  No, I’m serious.  Look at it.  Is it a mousy little thing from the 1970’s?  Is it dented up or rusted?  Can you break into your house with only a bobby pin and concentration?  If any of these questions are answered in the affirmative, you certainly need to consider replacing your door handle with a heavy duty deadbolt and knob combination.
 You see, a less than sturdy looking door knob on the entrance to your home sends a message to potential home buyers; your home isn’t secure.  It might make them feel uncomfortable, and chances are that they won’t even know why.  Get a nice, big, sturdy set and they’ll feel that your home is safe as can be.
  • The Actual Door:  Now, take a good look at your door.  Is it pleasing to look at?  Or is dingy and weathered?  Perhaps you have a metal door that has never seen a coat of paint.  You really need to change that.  If you’d like a dash of color, feel free to choose one that compliments the color of your home.  There are also faux painting techniques that will allow you to make your metal door look like a wood grain door instead.  If your door is in any way damaged or broken, you should either have it fixed or replace the door entirely.  Go with whichever costs less.

Solid Tip #10: Really, Curb Appeal Matters
Alrighty, you’ve addressed the living area inside of your home and your front entrance.  It’s time to really take a good hard look at your front yard.  Curb appeal, or how your home looks from the curb of your property, really is important.  You want buyers to drive by, look at your home and immediately feel as though they want to go inside.  This will not happen if your landscaping is in poor shape, your home looks dingy, the front porch steps are broken and your mailbox is hanging on by a thread.  
 Much like you did in your home initially, look around your yard objectively and make a list of everything that needs a little work.  
  • Are your shrubs, trees, flower gardens and walkways tidy?
  • Is there trash or unsightly elements in your yard?
  • Is everything (front light, garage door, porch rails, etc.) working properly?
  • Does your home’s exterior need a bath?
  • Could any element be simply updated through quick painting projects, such as your patio furniture and garage door?
  • Does your home look inviting?
 Chances are excellent that you’re going to need to do at least a little improving here.  But just think of how many people are going to be begging to view your home when they see how beautiful it is from your curb!
 I know this seems like an extensive list, but it really does take some hard work to get a home ready to really sell.  After all, anyone can put their house on the market.  But everyone doesn’t sell their homes quickly or with great profits.  If you follow the above suggestions and have a good realtor, you should have no trouble getting your home moved on the double.
In the event that you don’t have a realtor, feel free to give me a call!, I’d be pleased to serve you.  My goal is to help people sell their homes and realize their dreams as quickly as they possibly can.  You, my friend, are no exception.  

Chris Perisanidis
Coldwell Banker Residential Brokerage
Email: Chris.Perisanidis@cbmoves.com
Cell 203-858-1051

Monday, September 30, 2013

Renovating Your Home to Sell

General contractors, home builders, and more ∨

From Shabby Chic home decorations to contemporary furniture and the perfect wall mirror, browse thousands of decorating ideas to inspire your next home project.
With the help of a bath designer, revamp your bland bathroom with a walk-in shower, bath sink and a new sink console.

Thursday, September 26, 2013

4 Reason to sell now

4 Reasons You Should Sell
Your Home Right Now
Provided by Christos Perisanidis of Coldwell Banker
Email: Chris.Perisanidis@Cbmoves.com
 Phone:203-858-1051


In 2006, you saw the housing bubble completely crash and burn, which put buying and selling homes at a near standstill.  Homes were being foreclosed on, even people with good credit couldn’t get loan approvals and sellers who were getting offers on their properties stood little chance of selling them for their true worth. 

As a result, many folks who had their properties up for sale at the time that everything went awry decided to make a hasty exit from such a hostile and unpromising environment.  They had hope that better days would eventually arrive, and that they would be able to sell their homes for a fair price. 

As a real estate agent, I still see people eight years later still waiting to put their home up for sale.  The main reason for this stalling is that they’re terrified to try and re-enter the housing market at the wrong time.




Perhaps you are one of these very people who decided to cut your losses and stay in a home because it seemed that fate had forced your hand.  Or, you might even be one of the many that are fresh to the home selling scene and are ready to move on to the greener pastures of a new home.  Either way, it’s likely that you have wondered if now is the right time to sell, or if you should hold out for the economy to improve just a wee bit more. 

I won’t misguide you.  There are many of my colleagues who would say that holding out a little longer would serve you well.  However, I have a good bit of data to back up my belief that now is the perfect time to get your house on the market.  Following, I have disclosed this data and compiled four solid reasons that you should absolutely sell your home as quickly as possible.  Making a move immediately will most definitely work for you rather than against you, my friend.  Now is the time.


Reasons You Should Sell Your Home Right Now #1:  Interest Rates are on the Rise

Over the last several years, we have seen record low interest rates on mortgages.  This was primarily in an effort to allow folks to continue to afford to buy properties and promote growth.  The lower rates have allowed for the housing market to begin the slow process of healing.  However, the past few months have seen interest rates gradually begin to increase.  Further, these rates are projected to continue to go up steadily over the next year, and beyond, by the Mortgage Bankers Association. Check out the following figures.
  • November 2012 boasted a record low interest rate on a standard 30-year mortgage loan at 3.31%. (businessweek) A 30-year mortgage is often the go-to loan for new homebuyers because they offer a low and affordable monthly payment plan. This lower payment allows buyers to purchase a more expensive home than they possibly could with a 15-year mortgage loan.
     
  • As of February 1, 2013, that rate increased to 3.53% for the same loan. Obviously, this is not a huge hike, but the increase isn’t following the trend of the past few years by going back down. Rather, this interest rate is holding steady with projections to creep up even more. (businessweek)
     
  • As of September 26, 2013 the rate is 4.30% for the 30 year mortgage. 
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  • By the end of 2013, a 30-year mortgage loan’s interest rate is anticipated to be around 4.4%. (businessweek) 
     
  • These same loans are likely going to carry rates of approximately 4.6% by the close of 2014. (businessweek)

At first glance, this may not appear to be staggering figures.  You’re probably wondering what I’m going on and on about, but please, hear me out.  In reality, this seemingly small 1.29% rate change estimation could potentially cost homebuyers literally tens of thousands of dollars over the life of their loan.  I don’t know about you, but I could think of quite a few adventures I could take and investments I could make with that kind of cash.  Here, let me help you see what this 1.29% really means for homebuyers.

Let’s say that a buyer takes out a 30-year home mortgage loan for $300,000 in December of 2014.  This is opposed to the first quarter of 2013 when interest rates are approximately 1% less.  That seemingly insignificant 1% or so will cost that home buyer $3,000 more per year in interest payments.  Yes, that is correct.  That 1% difference will accumulate to cost a homebuyer in this situation around $90,000 over the life of their loan.  That caught your attention, didn’t it?

How Rising Interest Rates for Buyers Affect Your Bottom Line
But wait!  You’re selling your home, not buying it!  What difference does all of this make to you?  It’s really quite simple, friends.  If you sell right now, the people who are in the market to buy want to do so quickly before interest rates creep up any higher than they already have!  They want to take advantage of an opportunity to get more home for less money in the long run.  Buyers just need homes to snap up!

Additionally, by making a purchase now, buyers can afford to pay you more money for your home.  You see, the lower interest rate makes their monthly payment more affordable right now.  See how that works?  A lower interest rate translates into buyers being able to pay more to you presently.  That won’t be the case next year.  Now is the time for you to act and get that baby up for sale.

Keep in Mind…
It will also benefit you to keep another little detail in mind.  If you are planning to purchase a new home once you have sold the one you’re currently living in, it would be simply grand for you to take advantage of this prime, low interest rate situation, as well!  Not only could you make more money on the sale of your property, you could also come out with a lower monthly mortgage payment on your new home!  In the event that you are both a home seller and a future homebuyer, these are important facts to consider. 

Reasons You Should Sell Your Home Right Now #2:  Payroll Taxes Affect Future Sells

If you bring in less than $113,000 annually, you’ve probably already felt the squeeze on your paycheck since the beginning of 2013.  This is when the payroll tax that provides funding to Social Security was reinstated to its 2010 high of 6.2%. (csnbc) Families of lesser incomes are feeling the pinch far more than those of higher revenue.  This can have a huge, negative effect on your chances of selling your home for top dollar if you continue to wait to get back out in the market.

Right now, we’re just in the beginning stages of this payroll tax.  However, over time, potential homebuyers are going to start looking for ways to cut corners and ease their financial burdens a little.  This kind of tax has a way of only feeling more and more burdensome with time. 

With that being said, people who are in the market right now are willing to pay a higher price for your property than they might be in a few months.  By then, this payroll tax burden really begins to take its toll.  Take advantage of the opportunity to sell your home at top dollar right now.  You’ll also be helping current homebuyers get the benefit of cashing in on the current low interest rates, too.

Reasons You Should Sell Your Home Right Now #3:  Simple Supply and Demand
Supply and demand is an economic principle that is at work in the real estate market today.  After the housing market collapsed in 2006, there was a huge surplus of homes up for sale, but there were few consumers demanding to buy them.  New construction projects came to standstills, many of which have never been completed.  Foreclosures skyrocketed, and people who were asking a price that their home was actually worth were routinely shot down in favor of a deal. 

There were just too many houses and not enough eligible buyers to turn the market around quickly.  This is the negative side of supply and demand.  When there’s too much supply (in this case I’m speaking of homes) and not enough demand (or sellers to buy said homes) prices on the supply drop exponentially.  Nearly anyone serious about selling a home at that time had to let their property go for a deal, or be stuck with it indefinitely. 

Thankfully, that trend is beginning to turn around now, some seven years later.  You should absolutely take advantage of the beginnings of a prime supply and demand situation for you, the seller.  While 2006 and the immediate time thereafter worked against sellers, the market environment right now is leaning toward the seller’s favor!

Demand is High
According to the Existing Homes Sales Report, which is provided by the National Association of Realtors, there is much for you to be hopeful for if you put your home on the market right now.  According to their report, our economy hasn’t seen houses move as swiftly as they currently are since 2007.  Actually, annual sales rose from 2011 to 2012 by 9.2%!  What does that mean for you?  It means that you need to get yourself in gear, put your home on the market and get it sold.  There is a surplus of buyers waiting to just snatch it up!

Supply is Low
On top of their being more buyers who are serious about purchasing your property, there is also a huge shortage of homes actually available on the market.  Practically everyone is waiting for the big market turn around that will get them the best price for their effort…in theory.  In reality, right now is the time to move.  Less competition is great for you as the seller!  Can you imagine?  There literally hasn’t been this few homes available in eight years. (kcmblog)

Let’s Break This Down, Shall We?
  • Think about the little fact that there are fewer homes up for sale right now than there have been since 2005. Okay, have you absorbed that bit of information? 
     
  • Combine that knowledge with the well-supported information stating that there are more buyers gobbling homes up than there have been since 2007 for just a teensy weensy minute. 
     
  • Ding-ding-ding-ding! Did you get?  As the seller, supply and demand is currently working in your favor. Buyers want homes, but there aren’t many to choose from. You just won a ton of more interested viewers simply because there isn’t near as much competition as usual. 
     
  • You might even be able to demand more money for your home in this kind of situation, not to mention that there is the distinct possibility of selling it more quickly.
     
  • Buyers are shopping for homes, and you need to take advantage of the situation by selling your little piece of heaven to them soon!   

Reasons You Should Sell Your Home Right Now #4:  Low Interest Means Buying Power

Although all of the above points are compelling reasons to sell your home right now, they are not the most convincing argument to support your cause.  Actually, the fact that the current low interest rates provide homebuyers far more buying power is the single most important reason to put your house on the market immediately. 

You see, when interest rates are low, potential homebuyers have the ability to get approved for bigger loans far more easily.  The reasoning behind this phenomenon goes a little something like this; the borrower will have less money for interest costs pushing their monthly bill up, so they can afford to get a loan for a larger amount.  A little more simply stated, the lower interest rate a buyer locks in on, the bigger the loan they are actually able to obtain.

Let’s see if I can make this a little more clear with an example.  Keep in mind that this is an approximation, and not at all accurate down to the penny.  However, it can give you an idea of the way that your interested homebuyer’s buying power greatly affects the price that you are able to get for your home.

Let’s presume that you agree to take $280,000 for your home, and that this is a price your home will stand for.  Right now, your buyer could quite potentially obtain an interest rate of 3.3% - 3.5%, which is a little higher than the lowest we’ve seen in recent years, but still quite low as compared to the 1990’s and incredibly low compared to the 1980’s. 

Surprising Facts
  • During the 1990’s, 6% - 7% interest rates were considered rock bottom.
     
  • However, in the 1980’s buyers were tickled pink to get a rate of 12%, and a 20% rate wasn’t uncommon for a home mortgage loan. Wow, right. (ohioprettyhomes)

Example of a Current Borrower’s Buying Power
Okay, back to the scenario at hand.  Your buyer’s just got a loan approval for $280,000 at a 3.3% interest rate over a 30-year mortgage loan term.  Of course, they offered a 10% down payment, as well.  This will give them a house payment of approximately $1,100, which is well within their budget.  Great!

Example of a Borrower’s Projected Buying Power in 2014
Now, let’s look at this same scenario, but let’s pretend that we’re looking at the projected interest rates for 2014 at a rounded figure of 4.5%.  Everything else surrounding your buyer’s loan is the same.  They are seeking a 30-year mortgage loan, and they need their monthly payment to be affordable at $1,100 per month. 

Well, the only way to make that happen at this point is for you to drop your home’s fair price from $280,000 to $240,000.  That 1% interest difference means that you’re either going to have to wait for more buyers to come along who can actually afford a payment higher than $1,100 per month.  On the other hand, it could mean that you make $40,000 less profit than you would if you sold your home in today’s market.  And to think, you and your buyer could have benefited if only the move to buy and sale had been made sooner.  (ohioprettyhomes)

I highly recommend that you go ahead and put your home on the market while a borrower’s buying power is strong and steady.  More than anything else, a strong buying power is going to assist you in getting the very best price for your home. 

By moving forward with your sale, your buyers win because they have a great home that is worth the price they are paying.   Likewise, they can actually afford to make their mortgage payment without too much sweat, blood and tears.  You win because you didn’t have to drop your asking price exponentially just to get it to sell, and you were able to make a sell quickly because your buyers knew they were getting a deal.  Everyone is happy and you all benefit from this situation.

I know that trying to sell a home after the horrific debacle the market has been through is quite frightening, but what I am presenting to you is backed by solid, trusted facts and projections.  Check out all of the links I have provided to you below to help ease your mind.  I really do understand your concerns, and simply want to see you make the best of an excellent money making situation. 

Even if you haven’t had luck in the past selling your property, I can most assuredly help you to get your home moved in the here and now.   Please, feel free to contact me in the event that you are ready to take advantage of this great time for selling your home quickly and for a great price. Thank you!