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Getting ready to sell your home? It’s a good idea to keep in mind that buyers notice everything – good and bad. From the moment they walk in the front door, they
are trying to determine if this is the right home for them and their family. Paying attention to what the buyers notice can mean the difference between a great offer and a missed opportunity.

7 Things Buyers Notice as Soon as they Walk In
1. Light – A bright home is inviting. Make sure you fill your home with lots of natural light or a soft evening glow.
2. Smell – Nothing is less inviting than a strong odor. Even candles and air fresheners can be overwhelming. Less is more and make sure nothing unpleasant is lingering.
3. Space – Remove any unneeded furniture and offer a spacious home which flows.
4. Ceilings – Of course you can’t make your ceilings higher, but make sure they are free from water stains because buyers will look up.
5. Pictures and Personal Items – Remove personalization as much as possible so the buyers can imagine their family in the home.
6. Outdated Furnishings and Fixtures – If your home is filled with hand-me-downs, consider a professional stager. Old wall paper or outdated paint colors should be replaced as well.
7. Dirty, Grimy Rooms – Most important, clean everything thoroughly. Nothing is less appealing than a dirty home.

Here Are Some Things You Can Do to Prepare Your Home for Sale
Exterior of Home:
o Remove clutter
o Lawn mowed, landscaped refreshed where needed
o Sweep deck and porch areas
o Stage deck or porch areas with simple furniture
o Power wash driveway, sidewalk
o Make repairs as needed
o Trim trees and bushes
o Touch up paint where needed
Interior of Home:
o Remove clutter and clear countertops
o Remove items from exterior of refrigerator
o Organize closets and garage
o Reduce decorative items and personal photos to minimal amount
o Store toys, loose items out of sight (storage bin/closet)
o Keep sink clear of dishes or utensils
o Ensure all rooms are clean and floors are vacuumed/mopped.
o Ensure all lighting works
o Walk each room and notate/make any minor repairs that are needed (electrical, plumbing, roof, a/c, caulking, touchup paint, etc.)
o Ensure bathroom counters, sinks and tub are free of clutter and clean
o Make sure beds are made everyday

Along with this checklist, its a good idea to seek guidance from a real estate professional. A realtor like me can offer advice on what are the most important things for you to tackle before listing your home for sale. I also have a multitude of trusted resources available to help if necessary. I hope these tips get you started in the right direction and when you’re ready don’t hesitate to give me a call.

Latest NAR Data Shows Now Is a Great Time to Sell!

We all realize that the best time to sell anything is when demand for that item is high, and the supply of that item is limited. Two major reports released by the National Association of Realtors (NAR) revealed information that suggests that now is a great time to sell your house.

Let’s look at the data covered in the latest REALTORS^® Confidence Index and Existing Home Sales Report.

REALTORS^® CONFIDENCE INDEX

Every month, NAR surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions.” This month, the index showed (again) that homebuying demand continued to outpace the supply of homes available in January.

The map below illustrates buyer demand broken down by state (the darker your state, the stronger demand there is).

In addition to revealing high demand, the index also shows that compared to conditions in the same month last year, seller traffic conditions were ‘weak’ in 22 states, ‘stable’ in 25 states, and ‘strong’ in only 4 states (Alaska, Nevada, North Dakota & Utah).

Takeaway: Demand for housing continues to be strong but supply is struggling to keep up, and this trend is likely to continue throughout 2018.

THE EXISTING HOME SALES REPORT

The most important data revealed in the report was not sales but was instead the inventory of homes for sale (supply). The report explained:

• Total housing inventory rose 4.1% from December to 1.52 million homes available for sale.
• Unsold inventory is 9.5% lower than a year ago, marking the 32nd consecutive month with year-over-year declines.
• This represents a 3.4-month supply at the current sales pace.

According to Lawrence Yun, Chief Economist at NAR:

“Another month of solid price gains underlines this ongoing trend of strong demand and weak supply. The underproduction of single-family homes over the last decade has played a predominant role in the current inventory crisis that is weighing on affordability.”

In real estate, there is a guideline that often applies; when there is less than a 6-month supply of inventory available, we are in a seller’s market and we will see appreciation. Between 6-7 months is a neutral market, where prices will increase at the rate of inflation. More than a 7-month supply means we are in a buyer’s market and should expect depreciation in home values.

As we mentioned before, there is currently a 3.4-month supply, and houses are going under contract fast. The Existing Home Sales Report shows that 43% of properties were on the market for less than a month when sold.

In January, properties sold nationally were typically on the market for 42 days. As Yun notes, this will continue unless more listings come to the market.

“While the good news is that Realtors in most areas are saying buyer traffic is even stronger than the beginning of last year, sales failed to follow course and far lagged last January’s pace. It’s very clear that too many markets right now are becoming less affordable and desperately need more new listings to calm the speedy price growth.”

Takeaway: Inventory of homes for sale is still well below the 6-month supply needed for a normal market and supply will ‘fail to catch up with demand’ if a ‘sizable’ supply does not enter the market.

Bottom Line

If you are going to sell, now may be the time to take advantage of the ready, willing, and able buyers that are still out searching for your house.

 

 

 

Pre-Qualification vs. Pre-Approval

One sure way to reduce stress during the process of home buying and to be competitive in a busy real estate market is to seek a Pre-Approval. Buyers who are pre-approved are considered a stronger buyer than their pre-qualified counterparts

-Pre-qualification is not a loan commitment from a lending institution; it is only a loan agent’s opinion that you may be able to obtain financing. Virtually anyone can achieve pre-qualification status.

-Pre-approval, on the other hand, signifies that the application has been taken through a rigorous procedure. Pre-approved buyers enjoy these benefits:

1. If you make an offer on a home and then apply for a loan, you are at the lender’s mercy.  The lender sets the interest rate and points, aware that you do not have time to shop around to compare costs.

2. Pre-approval saves time spent looking at houses you can’t afford.

3. If you rely on your lender to tell you what you can afford, you may end up with a high mortgage payment. Most people can qualify for more than they feel comfortable paying.

4. Having a pre-approval letter from a lender gives you an edge when multiple offers have been made on a house. You are the Best buyer when you have a pre-approval in hand.

5. Pre-approved buyers can usually close more quickly. Once you submit your credit package and supporting documentation, most of the work has already been done.

Call 800-693-0001 to obtain your FREE  pre-approval and to receive sound advice about all of your mortgage finance options.

Contact me today if you are ready to begin your journey to homeownership.  I am available to answer any of your real estate questions and am able to guide you through the home buying process. 

I service all of South Eastern Massachusetts including, Abington, Berkley, Brockton, Bridgewater, Canton, Dighton, Easton, East Bridgewater, Franklin, Freetown, Holbrook, Lakeville, Norton, Somerset, Stoughton, Taunton, and West Bridgewater and I am happy to help.

www.KimLaCivitaHomes.com