Tri-Valley Home Sellers Archives - Page 4 of 4

Buy First, Sell First? Which Comes First?

June 28, 2016 by temineth Leave a Comment

Oh that tricky question; what should you do first? List the home? Make an offer on another one? Is it okay to buy and sell simultaneously? What’s the risk and what happens is one falls through?

This can be a stressful situation but it’s not uncommon. Many homeowners buy and sell at the same time. It can be a bit easier if you’re doing the swap in the same town. Out of town or even out of state can be very stressful but not if you plan ahead and be strategic about the move.

Here are some simple tips anyone can do when buying and selling at the same time.

Talk to your agent about what is the best move.

Simply talking to your agent about the marketing, the desirability of the neighborhood and how fast your home might sell can help you plan for this transition. If the market is hot, you might consider finding a home first and locking that in before listing. If the market is slow, consider listing first and finding a home later. Your agent will tell you honestly which direction to try first.

Should you go contingent?

Contingent is when you put in an offer on a house with a condition that you can’t finalize the payment until after your home sells. There may be some stipulations to this as well, such as, the home must already be listed, accepted offer, etc..

Contingent offers are also pretty tricky. Many homeowners in a hot market will not accept a contingent offer because they know about your offer is probably right around the corner. They are much less desirable and many listing agents will tell their sellers to decline a contingency offer.

This doesn’t mean that sellers won’t consider a contingent offer but it might be very risky and you may lose out on the home you really want. Each situation is unique and even micromarkets in particular communities and neighborhoods can vary from place to place, so it’s extremely important to be in top communication with your real estate agent about the best move for each house.

What about a bridge loan?

A bridge loan or even a home equity line of credit, can offer a loan extension from one house to another. A bridge loan, allows you to tap the equity in your current home with short-term financing in order to buy your new home before your old house sells. You’re basically financing to homes at the same time but just temporarily. Once your current home sells you can pay off the temporary bridge loan and move into your new home.

The downside is that very few lenders offer these types of homes. They’re more likely to recommend a HELOC, home equity line of credit, in order to make the down payment. Remember though, with a HELOC you will be paying two mortgages.

I typically recommend that my homeowners put their home up for sale first and then once they’ve negotiated an accepted offer, they can get serious about finding and purchasing a new home. This can be a tricky situation however, especially if you’ve found the home you love before you’ve even listed your current home. This is why I recommend not looking at homes until you’re ready.

Again, it all comes down to timing and understanding the individual markets that you’re buying in and selling in. Talk to your real estate agent before making any serious moves so that you can plan ahead, strategize the right plan of action and be prepared for a roller coaster ride over the next couple of months.

The right agent can certainly make all the difference in the world. Contact me today and let’s get started finding out what would be the best option for your situation and your location.

Millennials are Buying – Here’s How to Attract Them

June 20, 2016 by temineth Leave a Comment

Any seller that considers their house to be a perfect “first time home buyers” house should target millennial homebuyers. Many sellers are looking at how their home is viewed from a millennial’s standpoint. With more than 83 million millennial’s, a larger group than the baby boomers, chances are many of those will be looking at buying their own house within the next few years.

However, this is just the beginning. According to the National Association of Realtors, only 32% of homebuyers were first-time buyers, and almost historical though. But out of this group, about one third were millennial’s. Even though were just starting to see the edge of the horizon for millennial buyers, within the next few years it will be a big group of first-time homebuyers.

The term millennial is quickly becoming a popular label replacing generation Y, X and Echo boomers. Sellers need to know how to attract these type of buyers as they will be the majority of homebuyers throughout the next two decades.

Consider functionality and design.

Millennial’s are looking for a practical design and updated terminology for rooms such as a media room rather than a TV room, retreat oasis better than a bedroom and man caves or she sheds instead of work rooms. Sellers should disregard how they’ve used specific rooms in order to concentrate on transforming those rooms into a new look.

Low maintenance yards.

Many millennial’s will not look for a house that has a high maintenance front or backyard. Rose gardens, vegetable gardens, numerous flowerbeds or bushes and trees that need to be trimmed on a regular basis all tend to turn millennial’s office. It’s best to keep your home as simple, clean and tailored as possible from the inside to the outside.

Walkable neighborhood.

Now, while there’s nothing you can do about your homes location, you can emphasize what you are close to. Perhaps close to a good school, convenience store, farmers market or coffee shop. All of these appeal to a wide range of homebuyers, especially millennial’s.

Talk to your agent about your neighborhood.

Your neighborhood may have a specific a stigma attached to it, be it good or bad so talk to your real estate agent about what buyers generally think about your community or neighborhood. What they value in your neighborhood and what would be not of value that you can deemphasize. Is your home close to a large industry making it easy to get jobs? Is the home in a good school district?

Understanding how millennial’s are buying and what their attracted to can help your home sell a lot faster. Ready to get started? Contact me today for a free listing presentation on what your home is worth and how to get it sold quickly.

Keys to Getting a Home Sold

June 13, 2016 by temineth Leave a Comment

Here we go! Now is the time to sell your home. Whatever the reason be it job change, relocation, marital status, children or downsizing, you have to sell and of course like everyone, you don’t want to stay on the market for any longer than you have to.

This can be a very stressful time in your life especially if you’ve already found another home that you need to purchase. This buying and selling simultaneously could be one of the most stressful things you have to deal with as a homeowner or it doesn’t have to be if you use the right real estate agent. Surprisingly, using the right agent that keeps you informed, sets you up for selling success and markets correctly, can actually make the home selling process easy and enjoyable.

It starts with choosing the right listing agent.

When listing your home you can usually find an agent that will list your property for whatever price you want. The problem with this is that you’ll usually sit on the market far longer than you have to, infuriating you and your agent until you fire them and look for somebody that really knows what they’re doing. This is where I want to start with you. Don’t waste your time listening to a “yes man” agent. If you’re serious about selling let me do the research about what your home is currently worth, how long I think it will take to sell and some marketing strategies we can take in order to get the home in front of the right buyer.

Can you list your home yourself?

Of course! That is if you want to put in the time, energy and money to marketed, sell it, negotiated, differentiate offers and hope you didn’t make a mistake. Remember, only licensed real estate agents can list on the local MLS where 95% of real estate buyers go first. If you choose to list a home yourself you may actually be losing money.

Here’s why:

Those that list the home themselves typically start at a higher price than a local agent would. When they don’t get any hits or offers on the property they will start to lower the price. The problem with this strategy is that by this point, the home has been on the market far too long and buyers will tend to stay away from the there’s something wrong with the home. In the end, sellers typically drop the price so far just to get it sold this is actually lost money selling lower than have they simply use a real estate agent in the first place. Often times they’ve lost more money than if they had paid real estate commissions.

This is why it pays to go with a qualified, experienced and seasoned agent first. I do the research, find out the best price to list the property and give you an unbiased, honest opinion on what needs to happen to the home in order to appeal to the right buyers. If you’re looking to get more out of your home you’ll need to compete with the closest similar property. This means offering more for less money.
For negotiating strategies, expert staging advice, marketing tips and excellent advertising, don’t waste your time with an amateur real estate broker. Call me today for a free listing presentation of what your home could be worth and how quickly we could get it sold.

How to Make Your Home Appeal to Overseas Buyers

May 25, 2016 by temineth Leave a Comment

More and more foreign or overseas buyers are looking to the California real estate market for investing and developing. Whether you have a large development, condo building, or simply a single-family house, you can appeal to the wide range of homebuyers that are out there today including those overseas.

Sellers are looking everywhere these days for hot real estate markets, affordable homes, investment opportunities and rental properties, including overseas. You want the greatest return on your investment so appealing to a wide range of buyers as well as a variety of investors is always key.

According to the National Association of Realtors, foreign acquisition of residential real estate in the US totaled over $104 billion in the last year. This was a 13% increase from the prior year. Nationally this was 8% of the total dollar exchanged in existing home sales.[Source]

The US alone is a solid investment for many foreign buyers due to the increase property values and reputation for a good global place for business people to invest. Many foreign investors feel secure in the US as one of the world’s largest economies. Specifically, Chinese nationals have been overwhelming the largest source of foreign real estate buying in the last five years. Chinese buyers purchased nearly $100 billion in US homes. The Chinese in general are looking abroad more and more.

This is why all homeowners looking to sell need to appeal to a wide range of buyers. Here are some common features that are most desired by foreign investors.

Condominiums are popular.

Condominium ownership is a preferred option for many international buyers since amenities are great and maintenance is low. The building itself is generally safe and secure and maintenance is taking care of even when they are not present.

Popular cities with global reputations.

Places like San Francisco and Los Angeles are receiving a lot of interest from international buyers. Many people travel to these larger cities for business and need a place to stay, call home or rent out when not in use.

High-end homes are also attractive.

Many of these international buyers are wealthy enough to invest in property overseas so there typically interested in homes that reflect a lifestyle they are accustomed to. These affluent buyers are looking for homes in the higher end of the market, typically $900,000+. This is ideal for many people in the bay area since the average home prices around this price point.

Buyers tend to focus on a number of criteria when searching for their next home including building management, accessibility, and the quality of the Association or community itself. Emphasizing these features is a key way to monopolize yourself in the market.

Anytime is a good time to sell.

Homeowners that need to sell during inopportune times of the year should not have any fear selling to international buyers. Timing is not quite a factor in many of these foreign buyers purchasing throughout the year. However, selling to an overseas buyer may take some time. Because they don’t live in the country full time there could be a gap between traveling to and from the home for viewing. Once the offer is accepted things content to run quickly since many of these overseas buyers pay with cash. Also, many overseas buyers use property management services or concierge services that facilitate the transaction on their behalf. The point is, homeowners shouldn’t fear as to when to place their property on the market since international buyers purchased anytime of the year.

If you’re looking to sell your property and would like to market international buyers talk to me today. I’d love to help you devise a marketing strategy to appeal to the widest variety of potential homebuyers out there, not just locally but internationally as well.

Simple Curb Appeal Tips to Attract Buyers

May 9, 2016 by temineth Leave a Comment

You have just 5 to 10 second to capture a potential buyer by either the way your home looks as they drive by or in pictures on the Internet or in print. This is why curb appeal is so important. You don’t want people to pass by your home and not stop, look and want to know more. Yet, how can you appeal to a wide range of homebuyers and capture them simply on your curb appeal? Here are some simple and easy tips to captivate buyers and attract more eyes on to your property. [Read more…]

Simplify Your Curb Appeal

February 9, 2016 by temineth Leave a Comment

#2. Simplify.

You don’t have to go all out with hundreds of dollars worth of landscaping features in order to appeal to buyers. Too much sell and all buyers see is a high maintenance yard. Simple, tailored, polished and trimmed is the best way to attract a wide range of homebuyers. Make sure that lawn is the greenest, neatest, and cleanest yard in the neighborhood. Trust me, buyers will notice.

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Don’t Neglect the House

February 9, 2016 by temineth Leave a Comment

#3. Carry the curb appeal to the front door.

Your curb appeal should be what’s drawing buyers up to the front door for a closer look but don’t stop there. Make sure the windows are washed, paint the front door or the trim around close windows and doors, update the hardware on the door including any porch lights, doorbells and mailboxes. These little details can add charm and sophistication to your curb appeal.

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Maintain Balance

February 9, 2016 by temineth 1 Comment

#4. Find a balance between standing out and fitting in.

If the home is to dramatically different from all of the neighbors you might stand out in a bad way. You don’t want to be radically different from your neighborhood but stay with the design and continuity of most of the homes in the neighborhood but at just a little bit more upscale finishing then your closest neighbor. Brighten up your lawn with some nitrogen; added stately flowerpots to either side of the front steps; added light post or some sidewalk lights and trim all trees away from the siding of the house, sidewalks, steps and walkways.

Again, one of the first things you should do is to talk to your real estate agent about the micro neighborhoods and what buyers expect in a particular area. As a Tri-Valley real estate agent I’d be happy to offer tips and suggestions on what buyers in this area specifically look for in a homes curb appeal.