For the Week of June 28

The buyer likes your home. They want to make an offer. You will receive a contract with the offer terms. Should you accept, amend or reject? Learn how to best negotiate the offer so that you and buyer can win.

tips: negotiating the home buying offer

Running The Numbers Will Maximize Your Home’s Selling Price

If you are preparing to sell your house, determining the best home selling price will move your home faster and help you walk away with more money in your pocket. You may think that you know your home’s value, but an inaccurate assessment of the numbers could cost you thousands of dollars. There are some steps you can take before a home sale listing, information that will help you maximize your profits.

You Know Your Market Or Do You?

Today’s homeowners are usually quite aware of just how their local housing market is doing. News media reports, realtor ads, even a conversation with a neighbor can give you a good idea what your home’s value is. But there is one small problem with this type of information: it can be inaccurate.

Gathering Information To Determine A Home Selling Price

Instead of relying on conjecture or second hand news, the following information will give you a much clearer picture of the current value of your home:

Home Value Report – Independent companies have amassed huge databases to create automated valuation reports which are designed to mimic conventional appraisal reports. Lenders run these reports to determine your home’s value in order to supply mortgage loans or refinancing loans. Therefore, this is the only way that a lender based in Minnesota can determine what a house located in San Antonio, Texas is really worth. Without access to a home value report, out of state lenders would need a local appraiser to visually assess the home’s worth.

Realtor Comps – Comps (or home comparison reports) are offered by realtors who take a look at the home sales recently made in your neighborhood to determine a ballpark figure for your home. Those homes nearest in size to your home are the best determination of your home’s value. Stick with the most recent home sales if the market conditions in your area are changing rapidly. Your realtor should offer a report to you at no cost and without obligation. Consider having three different realtors provide this information for you to compare how they determined your home’s selling price.

Other Vital Information – Additional determining factors in establishing a home selling price should include the current mortgage loan rates, how long homes are taking to sell in your area, the appeal of your neighborhood (location, location, location!), and your home’s overall condition.

From Home Listing to Home Sale

Once you are armed with all of the right information, you can determine a home selling price that should be very close to what the market will bear. A home that is priced right should sell quicker and bring higher profits for the homeowner who has taken the time to do his or her homework.

Give Your Home An Exterior Makeover For $5K Or Less

I have some good new and bad news for you, but first the bad news...all of it!

Your company is laying you off, ending what had been a long term climb up the ladder.  In order for you to find a comparable position you'll most likely have to move so you are entertaining several offers hundreds of miles from your home. Clearly, you'll have to put your home on the market and hope that it'll sell in the deepest real estate correction in many years.

Worse, you'll be on your own as far as getting rid of home. Your new company will pay a flat relocation fee, but they won't help you sell your number one asset.  Money is tight all over and your new employer cannot possibly afford to carry your home for many months, perhaps longer.

The good news? Well, if your home is in top shape and you live in a desirable neighborhood, you may be able to sell it sooner than what you think. Regardless of what you may have beenn hearing on the news, homes are buying and selling, just at a pace slower than this time last year.

Big On Curb Appeal

Of course, if you are planning to sell you'll want to make certain that your home is in the best position to move quickly, which means one thing: how high is your home's curb appeal?

Curb appeal is defined as the attractiveness of a home as viewed from the street including how its look compares with other homes in the neighborhood. True, curb appeal is subjective as one person's yard art is another person's front yard trash! But, there are some things about the look of the house which can truly make it look nice especially for the person who might actually stop in if they are driving by.

Quick Fix Its On A Budget

Real estate agents will tell you that curb appeal is the most important aspect to presenting your home for sale. This doesn't mean that you won't need to fix some things on the inside before it goes on the market, but it is those exterior polishings which can sell your home.

Let's take a look at several projects you can to that'll cost you less than five thousand dollars total:

Paint or Replace the Front Door -- Very few things on the front of the house say "welcome" more than an attractive looking front door. In some cities around the globe, including Dublin, homeowners take pride in the unique styles and colors of their front doors. In the US, we're understanding how important that is too as people replace old, rotted doors with weather resistant fiberglass doors.  Prices range from $400 to $2000 on up. Consider upgrading the lighting too.

Replace Windows -- Some homeowners think that they have to replace all of their windows at the same time, but that can be expensive. Instead, spend the $400-500 or so to replace the 4-6 windows on the front of your home choosing those which are highly energy efficient and easy to maintain.

Beautify the Grounds -- Winter weather still has a lock hold on much of the nation, making it difficult to bring out the best in a lawn.  What you can do now is make sure that leaves and branches have been picked up, that bushes have been trimmed back and if you live in a snowy area that walkways and driveways are cleared and dry. If you live in a warmer climate such in the Carolinas, then you know that pansys thrive in cool weather, giving your yard just right amount of color to help it get noticed.

Miscellaneous -- Obviously, you cannot paint a home in cold weather while new siding can be expensive. Before you tackle any project, speak with a real estate professional who can give to you an objective opinion on what should be done to your home before it is placed on the market. When time is of the essence, you want to be able to complete such projects within a week or two so that you can get on with your life.

Of course, you'll also want a real estate agent who understands the market, with a good grasp on current home pricing, how long homes are on the market, etc. You may have to aggressively price your home in order for it to sell a decision you'll need to weight against pursuing employment in a different area of the country.