Have a Great New Years Resolution!

Great New Years Resolution!
Buyers: Resolve to Start Feeling Out the Market Early

You may think you only need to go to open houses once you’re ready to buy. But in reality, a buyer needs a couple of months learning the marketing, understanding home values, the prices per neighborhood and the market in general. Going to open houses in the neighborhoods where you want to buy will allow you to start feeling out the market. It may also be the best way to meet your future real estate agent. Many agent/buyer relationships are forged at open houses.

Once you engage an agent, you may make several offers before you get into your dream home. Having your agent along for the ride will allow you to compare and contrast homes you’ve visited to the home you eventually buy. The homes you see and your experience feeling out the market will serve as the building blocks toward becoming an informed buyer and making your best offer.

Sellers: Resolve to Understand Your Timing and Exit Strategy

One of the biggest stresses on a seller is trying to plan a purchase and a sale at the same time. Can you afford to close on the new home before selling? If so, for how long? Do you need to sell the property first? If so, will the potential sale price support a home purchase in the neighborhood you want to be in? If not, what other areas should you be looking in? Selling and buying at the same time brings up all kinds of financial, emotional and physical stress.

Uprooting yourself from your home is not easy. What if you have to go into short-term housing? How will you get that set up and how long would you need to commit for? If you can afford to purchase and then sell, do they need to happen quickly? Are there things you can be doing in your current home so that once your new home closes, you’ll be ready to list? It’s a lot to think about and plan for, and it helps to have a strategy in place well before you have to take action.

Please give us a call to speak to one of our agents today!

Scott Myers, Century 21 Scott Myers Realtors

(210) 479-1222

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Top 10 Tips for Selling Your Home During the Holidays

Hello Everyone,

Happy Holidays! Here are some great tips on selling your home during the best time of the year!

Attract homebuyers even during the holidays with these useful tips!

The holiday season from November through January is often considered the worst time to put a home on the market. While the thought of selling your home during the winter months may dampen your holiday spirit, the season does have its advantages: holiday buyers tend to be more serious and competition is less fierce with fewer homes being actively marketed. First, decide if you really need to sell. Really. Once you’ve committed to the challenge, don your gay apparel and follow these tips from FrontDoor.

  1. Deck the halls, but don’t go overboard.
    Homes often look their best during the holidays, but sellers should be careful not to overdo it on the decor. Adornments that are too large or too many can crowd your home and distract buyers. Also, avoid offending buyers by opting for general fall and winter decorations rather than items with religious themes.
  2. Hire a reliable real estate agent.
    That means someone who will work hard for you and won’t disappear during Thanksgiving, Christmas or New Year’s. Ask your friends and family if they can recommend a listing agent who will go above and beyond to get your home sold. This will ease your stress and give you more time to enjoy the season.
  3. Seek out motivated buyers.
    Anyone house hunting during the holidays must have a good reason for doing so. Work with your agent to target buyers on a deadline, including people relocating for jobs in your area, investors on tax deadlines, college students and staff, and military personnel, if you live near a military base.
  4. Price it to sell.
    No matter what time of year, a home that’s priced low for the market will make buyers feel merry. Rather than gradually making small price reductions, many real estate agents advise sellers to slash their prices before putting a home on the market.
  5. Make curb appeal a top priority.
    When autumn rolls around and the trees start to lose their leaves, maintaining the exterior of your home becomes even more important. Bare trees equal a more exposed home, so touch up the paint, clean the gutters and spruce up the yard. Keep buyers’ safety in mind as well by making sure stairs and walkways are free of snow, ice and leaves.
  6. Take top-notch real estate photos.
    When the weather outside is frightful, homebuyers are likely to start their house hunt from the comfort of their homes by browsing listings on the Internet. Make a good first impression by offering lots of flattering, high-quality photos of your home. If possible, have a summer or spring photo of your home available so buyers can see how it looks year-round.
  7. Create a video tour for the Web.
    You’ll get less foot traffic during the holidays thanks to inclement weather and vacation plans. But shooting a video tour and posting it on the Web may attract house hunters who don’t have time to physically see your home or would rather not drive in a snowstorm.
  8. Give house hunters a place to escape from the cold.
    Make your home feel cozy and inviting during showings by cranking up the heat, playing soft classical music and offering homemade holiday treats. When you encourage buyers to spend more time in your home, you also give them more time to admire its best features.
  9. Offer holiday cheer in the form of financing.
    Bah, humbug! Lenders are scrooges these days, but if you’ve got the means, then why not offer a home loan to a serious buyer? You could get a good rate of return on your money.
  10. Relax — the new year is just around the corner.
    The holidays are stressful enough with gifts to buy, dinners to prepare and relatives to entertain. Take a moment to remind yourself that if you don’t sell now, there’s always next year, which, luckily, is only a few days away.

I really hope this article helps and remember to give us a call to speak to one of our Agents today!

Sincerely,

Scott Myers, Century 21 Scott Myers Realtors (210) 479-1222

How to Negotiate the Best Real Estate Deal

Hello Everyone,

I came upon this great article that shares some valuable information about the negotiating process when purchasing your new home.

Whether you’re a buyer or a seller you want to succeed in the realty marketplace. That’s natural and reasonable, but what are the steps you need to triumph?

Negotiation is a complex matter and all transactions are unique. Both sides – buyer and seller – want to feel that the outcome favors them, or at least represents a fair balance of interests. In the usual case there is a bit of bluff, some give-and-take, and neither party gets everything they want.

So how do you develop a strong bargaining position, one which will help you get the most from a transaction? Experience shows there are five basic keys which will determine who wins at the negotiating table.

1. What does the market say?
At various times we’re in a “buyers” market, a “sellers” market, or a market where housing supply and demand are roughly equal. If possible, you want to be in the market at a time when it favors your position as a buyer or seller.

Because all properties are unique – it is possible to buck general trends and have more leverage than the marketplace would seem to allow. For instance, if you have a property in a desirable neighborhood with few sales, you may be able to get a better deal than elsewhere. Or, if you’re a buyer who can quickly close, that might be an important negotiating chip when dealing with an owner who just got a new job 500 miles away.

2. Who has leverage?
If you’re on the front page of the local paper because your business went bust – and the buyer knows it – you have little clout in the bargaining process. Alternatively, if you’re among six buyers clamoring for that one special property, forget about dictating an agreement’the owner can sit back and pick the offer which represents the highest price and best terms.

3. What are the details?
A lot of attention in real estate is paid to transaction prices. This surely makes sense, but the key to a good deal may be more complex.

Consider two identical properties that each sell on the same day for $275,000. The houses are the same, the sale prices are the same, but are the deals the same? Maybe not. For instance, one owner may have agreed to paint the property, replace the roof, purchase a new kitchen refrigerator, and pay the first $3,000 of the buyer’s closing costs. The second owner made no concessions.

In this example, the first house was actually sold at discount’the $275,000 purchase price less the value of the roof repairs, closing credit, and other items. If you’re a buyer, this is the deal you want. If you’re a seller, you would prefer to be the second owner and give up nothing.

4. What about financing?
Real estate transactions involve a trade – houses for money. We know the house is there, but what about financing? There are several factors that impact the money issue:

  • Has the buyer been pre-qualified or pre-approved by a lender? Meeting with a lender before looking at homes does not usually guarantee that financing is absolutely, unquestionably available – a loan application can be declined because of appraisal problems, title issues, survey findings, and other reasons. But, buyers who are “pre-qualified” or “pre-approved” (these terms do not have a standard meaning around the country) at least have some idea of their ability to finance a home and know that they are likely to qualify for certain loan programs. The result is that pre-qualified buyers represent less risk to owners than a purchaser who has never met with a lender. If the seller accepts an offer from a buyer with unknown financial strength, it’s possible that the transaction could fail because the buyer can’t get a loan. Meanwhile, the owner may have lost the opportunity to sell to a qualified buyer.
  • The lower the interest rate, the larger the pool of potential buyers. More buyers equal more potential demand, good news for sellers. Alternatively, high rates or even rising rates may drive buyers from the marketplace – and that’s not good for anyone.
  • It used to be that downpayments were a major financing hurdle – but not anymore. For those with good credit, loans with 5 percent down or less are now widely available. In fact, 100 percent financing, mortgages with nothing down, are now being made by conventional lenders. Reduced downpayment requirements are good for both buyers and sellers.

5. Who has expertise?
Imagine you’re in a fight. The other guy has black belts in 12 martial arts – and you don’t. Who’s going to win?

Brokers have long represented sellers, and now buyer brokerage is entirely common. In a transaction where one side has representation and the other does not, who has the advantage at the bargaining table? Courtesy of Realtor.com

Please give us a call to schedule an appointment with one of our agents today!

Sincerely,

Scott Myers, Century 21 Scott Myers Realtors

(210) 479-1222