November/December 2019 issue of Your Home newsletter. Tips and trends for homeowners, buyers, and sellers. This issue includes:
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
September/October 2019 issue of Your Home newsletter. Tips and trends for homeowners, buyers, and sellers. This issue includes:
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
1. Improve energy efficiency Boosting the attic insulation from R11 to R49 can lower heating and cooling costs up to $600 per year (according to Houselogic.com). If the existing insulation comes up just to the tops of the joists, then you may need to add insulation. If you can’t see the joists and the insulation is well above the tops of the joists, you’re probably okay.
2. Spruce up the exterior You only get one chance to make a good first impression. Projects that enhance curb appeal can offer the best bang for the buck. Basic efforts like power washing the home’s exterior, painting the front door, or adding landscaping improvements can be small investments that enhance curb appeal when selling a home.
3. Low-maintenance lawn care: Overgrown lawns and bushes will cause your home to stand out—in a bad way. For a few hundred dollars, hire a landscaping service to tidy up. Adding plants and trees native to your region will also help boost the home’s curb appeal.
4. Budget-friendly kitchen remodelsIf your budget allows only one room renovation, go for the kitchen. Most studies have shown as many as 80% of homebuyers list the kitchen as their favorite room. Buyers may be more forgiving of other outdated areas with a newly updated kitchen. A minor kitchen face-lift could include painting cabinets or getting new cabinet doors, new appliances, upgrading countertops, or new cabinet hardware.
5. Bathroom remodelUpdating bathrooms can make a big impact. Studies have shown a minor bathroom remodel can provide a 102% return on investment, and you don’t have to spend a fortune to make big upgrades. Re-grouting tile, replace caulk around the shower, tub, and toilet areas, replace the toilet, mirrors and fixtures can go a long way to improve the look of the bathroom.
6. Deep house cleaning: Make sure your home says “clean” to potential buyers when they walk in the door. Even if you clean your home regularly, hire a cleaning service for a thorough top-to-bottom scrubbing.
7. A coat of paint Painting the home interior is one of the most inexpensive updates you can make. New paint lightens rooms, hides visual defects, and simply makes a room feel fresh and clean.
8. Fix the flooring New flooring can instantly brighten up the home, and makes a huge difference in how your house is perceived by buyers.
9. Make your home feel bigger. You can’t change the square-footage of your home, but you can make each room in your house feel larger. A sunny room feels more open—replace heavy drapes with vertical blinds or shutters. Also, clear the clutter. Add shelving or storage space to help organize.
Thinking of selling? Call Jean Hedren, Edina Realty NW Wisconsin Realtor, 218-590-6634 for a free comprehensive market analysis of your property.
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.
The U.S. Department of Energy lists several key features of an energy efficient home. Home sellers, be sure to highlight these features to attract buyers. The infographic at the left (courtesy of National Association of Realtors) shows how buyers rate the importance of green and energy efficient homes.
2. Insulation and heating/cooling temperature control. The Department of Energy has determined that 56% of home energy costs go to heating and cooling. Improving the insulation in your home and installing a programmable thermostat can be an energy cost saving.
3. Water heater. Keeping the water heater in good working order, or replacing with an energy efficient model can have a positive impact on your utility bills.
4. Lighting. By switching all lighting to LED or CFL lights, you can use half the energy of incandescent bulbs for 10 times the life.
Selling a home in NW Wisconsin? Send me an email or give me a call at 218-590-6634. Or, email me: jeanhedren@edinarealty.com. I’ll be happy to provide a current price analysis to give you an idea of what your home will sell for in the current market.
During a home showing, buyers can tour each room of the home, and they may even peek into closets or check that light switches and other appliances work. It can feel invasive, but it’s important to remember that each person who enters your home is considering a major investment. By allowing them access to each room and space, you may help them get closer to bidding on your home.
The buyer and their agent will typically attend a pre-scheduled home showing. In some cases, the seller’s agent (also called the listing agent) may be there to let them in.
More commonly, your listing agent may provide access to buyers and their agents using a secure lockbox. This allows your listing agent to accommodate more showings than if they needed to be physically present for each one.
If a buyer is looking for a certain feature that your home doesn’t have — like a split-level floor plan or a master suite with a walk-in closet — they may simply walk in and out in a matter of minutes.
However, today’s buyers are tech-savvy and the vast majority are looking at homes online before viewing them in person — and ruling out homes before they ever enter them. As a result, many buyers who attend a showing at your house will be quite familiar with the property’s layout and features from the listing photos. They may be there to explore specific areas they liked, or to verify the house is as great as it looked online.
If a buyer is seriously interested in your home, they may spend up to an hour in your home as they:
It’s also common for early-stage buyers to schedule several back-to-back showings, knowing they will schedule a second showing for the homes they like best. So as a seller, don’t be too discouraged if a potential buyer is in and out in 20 minutes. They may just be getting a feel for the market — and they may be back if they find your home stands out among other contenders.
You’ll already have prepared your home’s interior and exterior before listing so it’s mostly a matter of tidying up the house so it looks as good as your listing photos.
Consider writing out a quick checklist for each room, including:
If you’re ready to sell your home, reach out any time to get the process started.
An important part of the home-selling process is showing it to prospective buyers. Unfortunately, that means tidying up even more frequently than you normally would, so buyers can focus on the house’s features rather than your household items. While it may not be possible to keep your home completely mess-free when you have children, below are some tips for keeping the chaos to a minimum:
Under-bed storage.If there’s enough space under their beds, encourage kids to keep their rooms tidy with rolling plastic or rattan storage bins. Then, use an oversized comforter or quilt—or strategically placed blankets—to hide the bins from sight.
Built-in storage.It may be impossible to keep things from leaving kids’ rooms and entering the living room. Utilize furniture with built-in storage, such as ottomans, or clear a drawer in the entertainment center specifically to tuck awayany roaming toys, games and other items.
Baskets and trunks.If you don’t have much built-in storage or discreet space to take advantage of, consider buying decorative trunks or baskets with lids that you can place around your home.
Suitcases.If you need to store toys in the back of a closet, put them in suitcases that you can easily roll and move rather than bulky plastic bins. Suitcases are also a more discreet storage option than bins when buyers glance inside the closet to gauge how much space is available.
Donation.While your kids may feel attached to every toy, stuffed animal or plaything they own, it might be time to downsize the collection. Suggest that they start a donation pile, so that their unused items can bring joy to other kids instead.
This article is brought to you by Jean Hedren, a Certified Residential Specialist.
I am a Realtor. I sell real estate. I can certainly understand a home seller’s reasons for wanting to save a commission expense. We all like to save money.
While commission rates are negotiable, in NW Wisconsin you are likely to pay 6-7% commission on the sale of your property. On a $200,000 home a 6% commission is $12,000. That’s a chunk of change.
Selling a for sale by owner (FSBO) is not a simple task and that is why most home owners hire a Realtor to get the job done. Nationally the success rate of a FSBO is very low. More than 80% of all FSBOs end up hiring a Realtor after unsuccessfully trying to sell on their own.
There are many reasons why selling For Sale by Owner (FSBO) is a difficult task to pull off.
#1 – The wrong listing price
Whether selling FSBO or with a Realtor, pricing is the first and most critical factor. If your home is not priced correctly you are not likely to sell for the highest possible price. More than 75% of marketing a home is about the price. Overpricing a home makes it almost impossible to sell.
Choosing the right price involves thorough research of similar properties that have recently sold in the local area and using the data to correctly set the selling price. The data may not be easy to find in more rural geographic areas.
Sometimes owners may have made recent improvements to their home, and therefore feel justified in setting a higher price. Unfortunately, most home improvement projects do not have a high return. Even improvements like replacing a roof or a septic system will not have much of a payback on the investment.
#2 – Lack of online exposure
Many for sale by owners only put up a handmade “for sale by owner” sign in the front lawn and expect that to do the job.
Others think that including their listing in one of the for sale by owner online sites like Isoldmyhome.com, forsalebyowner.com, or buyowner.com is going to bring lots of buyers.
Unfortunately that’s not the case. The for sale by owner real estate websites do not generate much buyer traffic in comparison to the sites that web savvy Realtors use to market listings.
Google a local search with real estate keywords a buyer would typically use as an online search, and you’ll see the results. Using my local town as an example, a buyer would use keywords like Gordon Wisconsin homes for sale or Gordon WI real estate. The top search results are sites that show listings by Realtors and Real Estate agents individual websites. You can check out your own town or city.
A web savvy Realtor will also use social media to market a home. Facebook, Twitter, YouTube, Google+, blogs, and other social media help drive traffic to a listing. For sale by owners generally do not have the expertise to market with social media.
#3 – Buyers want your commission savings
One very important consideration that most people who try to sell on their own don’t realize is that buyers understand you are not paying a Realtor to sell the home. These buyers tend to be bargain hunters and since the seller is not paying a commission will feel justified in offering less for the home.
Lots of for sale by owners end up receiving low ball offers. Even if the home is priced right, the seller can end up with a lower number on the bottom line.
#4 – Buyer qualifications and showing the home
One important detail that for sale by owners may forget is that buyers can view a home at just about any time of day or day of the week. A buyer will likely lose patience if the seller cannot accommodate their schedule. The seller will need to find the time to let a buyer have access to the home which can be a challenge if the seller is working full time or does not live on the property. It’s difficult to sell if the buyer can’t get in and see it. A Realtor’s job can make that part of the selling process easy.
Sellers also need to be aware of how to qualify potential buyers. If the buyer cannot get financing, there is no point in showing the home. A Realtor’s job is to make sure a buyer has the ability to purchase. Most buyers looking at homes today are pre-approved.
Sellers may not be aware of the closing costs associated with the selling side and procedures to bring a sale to the closing table. A Realtor will have the experience to handle the closing procedures, and to smooth out any bumps during the final closing procedures.
If you are thinking of selling your home, I will be happy to provide a free, no obligation comparative market analysis for your local area.
Related article by Bill Gassett, Remax Executive Realty Massachusetts. Home Selling Myths That are Completely False
July/August 2018 issue of Your Home newsletter. Tips and trends for homeowners, buyers, and sellers. This issue includes:
Click link below for the full issue. 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
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March/April 2018 issue of Your Home newsletter. Tips and trends for homeowners, buyers, and sellers. This issue includes:
Click link below for the full issue. 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