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

DIY home energy checklist

This checklist can start a to-do list for potential problem areas and prioritizing repairs and upgrades. For example:

  • Rattling windows and doors.
  • Draft from the fireplace flue.
  • Replacement of furnace air filters.

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.

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

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