Home selling tip: Your house has to qualify

Pricing your home right from the start can result in a quicker sale. When you sell your home you not only need a qualified buyer, but your house also has to qualify.

The majority of home buyers obtain financing to make a purchase. A home appraisal is a key step in the financing process. This means that if the selling price is $280,000, but your home is appraised at $250,000, buyers can either walk from the sale or request a price adjustment in order for the transaction to close.

So, keeping this in mind, it’s best to position the price correctly from the start. Learning how other local area properties are selling is a key part of the selling strategy. To be competitive in your area, learn what other properties are qualifying for.

Request a free home evaluation. 

Home selling tip: The real estate market is like the stock market

Pricing your home right from the start can result in a quicker sale. 

An important first step in the home selling process is to price the property right from the start. The price is not based on the acquisition price or what a seller needs to get. Price is based on what a buyer will pay.

Sellers and brokers do not determine the price, the buyers do. If your stock was trading at $100 per share a year ago and today it’s trading at $90 per share, you wouldn’t have any buyers if you wanted to sell at $100 per share.

Request a free home evaluation. 

Your Home Newsletter Nov/Dec 2019 – Residential Real Estate Council

November/December 2019 issue of Your Home newsletter. Tips and trends for homeowners, buyers, and sellers. This issue includes:

  • Saving $ on a new bathroom
  • 5 steps to tidy your garage
  • Finishing your basement

Brought to you by Jean Hedren, Your NW Wisconsin Realtor and member of the Residential Real Estate Council If this is your year to buy or sell real estate, call Jean Hedren at 218-590-6634. Or, email: jeanhedren@edinarealty.com

Is fall a good time to sell or buy a home or cabin?

 

Around here sellers, buyers, and even Realtors can often think a little too seasonally. Summer might be the only time of the year we can grow tomatoes in northern Wisconsin, but that doesn’t mean it’s the only time of year we can produce real estate sales.

Today’s lake-home market is no longer just a summertime surge. Maybe it’s because buyers are now eager to enjoy their new homes all year round. In the fall there’s hunting, fishing, paddling, hiking, biking, and ATVing. In the winter there’s skiing, snowmobiling, ice fishing, and just relaxing by the fire. Every spring, long before the water is warm enough for swimming, we’re blessed with months of weather that’s perfect for enjoying the great outdoors in other ways.

Even as some sellers are pulling their homes from the market until next May or June, plenty of serious, purposeful buyers are still on the hunt. At this very moment they’re getting pre-approved, researching lakes, and reaching for their checkbooks.

So if you’re ready to move on to the next stage of your life, there’s no rational reason to wait until next spring. If you’re ready for this life transition, then maybe it’s time to make your move.

Keep in mind, too, that listing your home today doesn’t mean moving out next Tuesday. Even after we’ve done a little negotiating and you’ve accepted a buyer’s offer, more time will elapse before there’s an actual closing. Typically, unless it’s a cash offer with no inspections or other contingencies, that’s about another 45-60 days. Here’s a little more on the topic of what fall sellers can expect.

Could you end up moving in the winter? Sure. But it’s really no big deal. (And on this I speak from experience.) Moving in the winter is nothing to be afraid of—especially if you’re paying someone else to load up the moving van and drive it away. Of course, if you’re leaving most furnishings behind, then moving will be less of an issue anyway.

There’s only one situation when winter can really complicate your plans, and that’s if you’re selling a three-season cabin. Most buyers will ask for an inspection, and it’s hard to inspect a cabin’s well, septic system, and plumbing without turning on the water. But even then, I’m usually able to help buyers and sellers work things out.

And for all the rest of you selling a year-round lake home or cabin, the best time to find buyers is… Year-round. So if you’d like to learn more about what your home is likely to sell for in our current market, give me a call now. Jean Hedren, Edina Realty, NW Wisconsin. www.JeanHedren.com

About Jean Hedren Realtor. Jean Hedren, Edina Realty NW Wisconsin Realtor, specializes in lake homes, cabins, and waterfront real estate in NW Wisconsin. View all posts by Jean.

Biggest homeseller mistake – getting past the emotional attachment

NW Wisconsin: A common reason that a house will not sell quickly and at the best possible price has to do with a seller’s emotional attachment. Some sellers have a hard time letting go and may unwittingly block the process by overpricing the home, unwilling to declutter, refusing to make repairs, or unwilling to negotiate with buyers.

A good Realtor can help sellers to let go of the emotional attachment and think of their home as an asset.

Shifting the language. A simple word change from home to the street name or property is a subtle step that begins the process of depersonalization.

Though a seller has created 30 years of memories, those memories will always be with them. Now that they have decided it’s time to sell, the Realtor’s job is to present the property to the marketplace. The marketplace is where people shop for products. In this case, the home is the product.

Simplify and pack up the memories. Because the homeowner is selling, a first step is to proactively remove items they don’t need for their next  move or pack up items they will want to keep with them.

When a buyer enters a home, they are visualizing how their stuff fits into this space. Creating an environment that is open and uncluttered for buyers to walk in and imagine themselves living in is a critical step in the selling process.

Rebranding or staging. Depersonalization is a way to repackage or stage the home to be more product-based. 

The biggest mistake a seller can make is to resisting the shift from viewing their home as their property. Without this shift, most potential buyers will move on. 

Your Home Newsletter Sept/Oct 2019 – Residential Real Estate Council

September/October 2019 issue of Your Home newsletter. Tips and trends for homeowners, buyers, and sellers. This issue includes:

  • Fall home selling appeal
  • Targeted staging
  • Cold weather home prep

Brought to you by Jean Hedren, Your NW Wisconsin Realtor and member of the Residential Real Estate Council If this is your year to buy or sell real estate, call Jean Hedren at 218-590-6634. Or, email: jeanhedren@edinarealty.com

Time to close up the cabin?

Time to close up the cabin for the season? Here is a handy reminder checklist.

How to sell your home to millennials, Gen X, boomers, seniors.

According to a study released by the National Association of Home Builders, “Housing Preferences of the Boomer Generation: How They Compare to Other Home Buyers”. The study showed the following home features most wanted by each generation:

Millennials

  • Laundry room
  • Exterior lighting
  • Living room
  • Patio
  • Front porch
  • Both shower stall and tub in master bathroom
  • Ceiling fan
  • Hardwood on main floor
  • Deck
  • Energy Star-rated appliances
  • Dining room

Gen X

  • Laundry room
  • Energy Star-rated appliances
  • Exterior lighting
  • Energy Star rating for entire home
  • Energy Star-rated windows
  • Ceiling fans
  • Front porch
  • Hardwood on main floor
  • Patio
  • Living room

Baby boomers

  • Energy Star-rated appliances
  • Energy Star rating for entire home
  • Laundry room
  • Energy Star-rated windows
  • Exterior lighting
  • A full bath on the main level
  • Ceiling fan
  • Insulation higher than required by code
  • Patio
  • Hardwood on the main floor

Seniors

  • Laundry room
  • Energy Star-rated appliances
  • Energy Star rating for entire home
  • A full bath on the main level
  • Table space for eating in the kitchen
  • Ceiling fan
  • Double kitchen sink (side-by-side)
  • Energy Star-rated windows
  • Insulation higher than required by code

Selling your home with a small kitchen

While you may think that selling your home with a small kitchen is a negative, there are several ways that you can make it stand out and appeal to potential buyers:

Light it up. Darkness can often make smaller rooms feel even more cramped. Open the room up to more light by removing all curtains from windows and install recessed blinds. You still get the privacy factor, while also allowing your kitchen to have a brighter feel.

Keep the counters tidy. Messy or cluttered kitchen counters and cabinets add to the small space felling. Keeping your countertops clear of all items, including photos, papers and even appliances, can make it seem like the room is larger than it truly is.

Brighten the walls. Consider painting the wall color to brighter or white tones. Lighter colors tend to open up a room. They are also much more inviting, enticing potential buyers.

Mounted appliances. Mounting appliances on the wall or under the cabinets to create more countertop space, give the kitchen the appearance of being more spacious. The distinctive and interesting design look could attract more interest during a walkthrough or tour.

This article is brought to you by Jean Hedren, a Certified Residential Specialist

Real estate and tomatoes are not the same

Real estate and tomatoes are not the same.

I’ve just updated my website with helpful information related to this important question: Why wait??? It’s a question that has to do with the time of year, but it’s also a much bigger question.

“OK,” you’re saying, “but what do those tomatoes have to do with the view from cabins and lake homes in northwest Wisconsin?” The answer: Not much. Real estate and tomatoes are not the same. Let me explain…

Around here sellers, buyers, and even Realtors can often think a little too seasonally. Summer might be the only time of the year we can grow tomatoes in northern Wisconsin, but that doesn’t mean it’s the only time of year we can produce real estate sales.

Today’s lake-home market is no longer just a summertime surge. (And that’s even more true, of course, for off-water homes.) Don’t get me wrong. If you’re a buyer or seller who happens to read this in April or May, I’d love to hear from you today. But these days plenty of serious, purposeful buyers are on the hunt all year round; at this very moment they’re getting pre-approved, researching lakes, studying properties online, and arranging to view their top picks in person.

So, whether you’re buying or selling… If you’re ready to move on to the next stage of your life, there’s no rational reason to delay until May – and especially not until some Mayday years in the future. If it’s time, it’s time.

Jean Hedren, Edina Realty NW Wsiconsin. www.JeanHedren.com

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