Selling Outer Banks Real Estate
Outer Banks Home Improvement
A home is one of the largest financial investments a person will make in their life. While property values over time are determined by national variables, the economy and local market conditions, the care and upkeep of a property is also a crucial element toward achieving a solid re-sell. Whether you are adding more rooms to create extra space, upgrading your kitchen or are thinking of putting your home on the market, Cooper Hawk offers some essential home improvement tips that might increase the value of your home.
Repairs: While many homeowners may want to remodel or update their home, if the windows need replaced, then perform these necessary repairs over any cosmetic changes. As soon as you notice a problem, fix it and avoid a larger expense later on.
Room Addition: Adding a bedroom or office is a significant home improvement that you will be able to utilize every day. In addition to the much-needed extra space, it can provide you with a good return on your investment when it comes to selling the property.
Kitchen Makeover: Out of all the rooms in the house, the kitchen is the most popular to remodel. Kitchen upgrades include adding solid surface counter-tops, dual sinks, cooking stations, under-cabinet lighting, and microwave trays.
Bathroom Fixer-Upper: Large bathrooms are typically on the top of the list of priorities for those seeking to purchase a home. Adding custom showers, glass block windows, and private toilets are attractive selling features. If you don’t have the room to expand, stick with updated cabinetry, new flooring and shower/tub inserts, or a new vanity.
Landscaping: A professionally landscaped yard can certainly increase the “curb appeal” of a home. In fact, manicuring your lawn can be one of the most inexpensive home improvements. Simple landscaping projects include trimming and edging the grass, manicuring the trees and shrubs to open up the view of the house, removing any dead plants and planting flowers to brighten up the yard.
Cosmetic Touch-Ups: A paint job, new double-paned windows and new carpeting will increase the price of a house virtually dollar-for-dollar. Neutral colored paint and eliminating clutter can make a world of difference.
Home Improvement Professionals: Whether you need a gardener, interior designer or contractor, it is very important to do a background check prior to hiring a professional. Get references from family or friends and interview them – Make sure you contact the references.
Why Using a Real Estate Agent is a Necessity
Preparing your home for sale, figuring the sale price, finding a qualified buyer, negotiating, closing, and moving are just some of the steps in the sales process that will get your head spinning. In today’s market, using a licensed agent into the process early is the first step to a smooth transaction.
It is a real estate agent’s job to know the neighborhood, school system and other features that affect the value of a home. Agents use this knowledge to help homeowners figure out the best price for their home and what type of buyers will be interested. Choosing the sales price is not always easy. If the price is too low, you can lose money; if it’s too high, it can take too long to sell. An experienced real estate agent can help you balance all of these factors, including neighboring property values, improvements you’ve made, the current market and your motivation. The marketing plan is what really sets a good real estate agent apart from discount brokers and “for sale by owners,” and is designed to bring a multitude of potential buyers to your doorstep. People who try to do the job on their own don-t have as many marketing options. They can’t list the property with the Multiple Listing Service, where the listing is shared with other real estate agents. Full service real estate agents use are flyers, mailings, telephone marketing, Open House events and Web site listings.
The Sales Contract
Finding a buyer is only the first part of a real estate agent’s job. Negotiating to a final price and writing the sales contract are the next steps. The details of the contract are very important, and if not handled properly, can set the seller back, costing time and money.
Qualifying the Buyer
An experienced real estate agent can also help you “size-up” a potential buyer to make sure they are able to go through with the sale. An experienced real estate agent may consider mortgage pre-approval, past experience and the background of the buyer to help you decide if an offer is solid. This will save you time and may possibly avoid having to start over in the sales process. Finding a good buyer is as important as getting the right price for your home.”
Selling a home will be an emotional experience and working with a real estate agent can reduce some of the stress, save time and give you peace of mind that a professional is taking care of the details
Selling a Home in a Buyer’s Market
Although home appreciation has leveled off in some markets, sellers can still get good prices for their homes. The sale may take a bit longer, but a little creativity can help sellers move homes without having to drop the price.
Price Your Home According to the Current Market
If a house comparable to yours sold for a very high price last year, this does not mean you will be able to realize the same price when selling your home now. Work with a full-service real estate professional to determine the appropriate, competitive listing price for your home. Remember that in this market, your sales associate may encourage a list price in accordance with others currently on the market, rather than those previously sold.
Offer a “Seller’s Contribution”
A seller can sweeten the deal by offering assistance to the buyer in ways that do not require lowering the asking price. These tactics can help your home to stand out from the crowd. For example:
- Offer to pay a portion of the closing costs.
- Cover the buyer’s mortgage payments for up to the first six months. Depending upon the size of the mortgage, the buyer can save several thousand dollars and the seller still gets the original asking price for the home. It is generally more financially advantageous to do this than dropping the asking price by $30-, $20- or even just $10,000.
- Many condos and houses across the country belong to homeowners’ associations that require annual dues. Paying the first year’s fees could be a big incentive to a buyer nearing the limit of his or her liquid assets.
Properly priced homes that stand out from the competition are selling. Contact Cooper to find out how long an appropriately priced home is expected to remain on the market in your area.