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. 

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. 

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

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

To learn more, click Why partner with Jean.

Summer is hot and so is the real estate market. Now is a great time to sell.

Right NOW is a great time to sell your home or cabin in NW Wisconsin.

Summer is in full mode and serious buyers are active. If you’re ready to sell your lake home or cabin, now is the time to be on the market.

Buyers are 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.

So if you’re ready to move on to the next stage of your life, 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.

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. 218-590-6634. Visit www.JeanHedren.com

Check out my recent sales: Sold by Jean Hedren

Northern Wisconsin property search. Click here: Map of Northwest wisconsin.

Top 7 exterior home remodeling projects with highest returns

If you are thinking of selling your home and need to do a few updates first, these 7 exterior projects will result in the highest return on your remodeling dollars. Cost Vs Value RISMedia 2019

Stone veneer, minor kitchen remodel, wood deck, and siding replace rank the highest of most likely adding value to the home for sale.Exterior projects

 

Nationally, the top 7 projects with the greatest ROI in the mid-range cost category:

  • Manufactured stone veneer
  • Minor kitchen remodel
  • Wood deck addition
  • Siding replacement
  • Steel entry door replacement
  • Garage door replacement
  • Vinyl window replacement

Ready to sell? This pre-listing checklist can help.

List every repair and improvement you made, no matter how small.Walk through your house and write down everything you can think of. Did you buy a new fridge? Install a new hot water heater? Rebuild your deck? Replace the roof? You also want to list any problems you have addressed, and then talk to a professional about what and how to disclose.

Note the obvious flaws. Maybe there’s a ding in the wall from moving a piece of furniture. Or perhaps your landscaping needs a major refresh. Note the obvious, fixable problems that could affect the sale of your home in order to have an idea of what you’ll need to do to get it market-ready. This information will also be helpful when speaking with a qualified REALTOR®.

Is this your year to sell in NW Wisconsin? I would be very pleased to help. Call Jean Hedren, Edina Realty NW Wisconsin Realtor, 218-590-6634.

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