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A Realtor’s View of Fix-ups and The Most Bang For Your Buck!
Before I start, I would just like to add I little disclaimer *the views I am about to make are simply things I SEE, day to day, the comments I hear from buyers, the worries from sellers and the simple reasons that I feel some homes don’t sell. (it’s not always the market folks and it’s not always the Realtor® either).
I always stay in contact with my sellers and buyers. If you can’t make at minimum one phone call a week to give a status report to your seller/buyer, you’re in the wrong business. This business is built on communication. It’s that simple. It is important for your Realtor® to give you what we call FEEDBACK. Positive or not, you need to know. Please listen to them. Don’t lash out at them as they are trying to help you sell your home when they give you honest feedback. Remember, we don’t get paid until we sell your home.
First impressions are very important. When an agent walks into a home with their buyer, they WANT to sell your home, if they are not showing your home with the idea of selling it, they’re wasting their time and yours.
Let us start out on the cheap here…
1. Are your walls dirty? Clean them, it makes everything seem brighter…a day’s worth of work, and there you go. How much could that cost?
2. PAINT the walls if needed, NEUTRAL colors. I’m not saying the entire house either. Talk about bright! Paint changes everything folks, it makes the house smell new too. A couple days of work..average size house doing it yourself….$200 maybe….and that’s for the good paint.
3. Clean the carpets..$200 make sure they deodorize them.
4. One of the most important features of the home -The K I T C H E N! I recently sold a home in Blackwood, NJ that was well kept throughout, the seller totally trusted me and did everything I asked. A little touch up paint, not much needed… I sold the home in 28 days for more than ANY other house in the same development. With so many houses in the area and my clients costing more than most, my client turned to the buyer at settlement and he just had to asked the buyer, “why my house”? the buyer turned to him and said , “Your Kitchen is Beautiful.” Wow…THAT’S FEEDBACK! Here is that kitchen. The moral..it doesn’t have to be a huge kitchen nor does have to be worth $50,000, just a nice, well kept modern kitchen.
5. Bathrooms – We all spend a lot of time in our bathroom. Next to the kitchen, it is the most used room in the house. Why don’t we treat it like that? With a little updating in the bathroom such as towel racks, new mirror, some paint…these little things could go a long way…trust me, I hear it all the time…clients saying “we would have to rip out the bathroom, lets pass to the next house”.
One very important final note.
You may not need to do any updating or fixing, but take a good look around, be honest with yourself. Is there clutter, dog smell, dirty walls, holes in the wall…is your house out of date? These things can cost someone selling a house a good, reasonable offer and they all add up.
Thanks for reading.
Dave Sulvetta REALTOR-Associate
Cell 856 889-8163
Century 21 Hearst
Camden County NJ Realtor, Camden County Real Estate, Gloucester County Realtor, Gloucester County Real Estate, Burlington County Real Estate
http://www.davesulvetta.com/
http://www.camdencountyrealestatenews.com/
email; dave@davesulvetta.com
Know YOUR Market! Get Market Snapshot It's 100% Free Click Here!
Buying a Short Sale Advice!
A short sale property can be an incredible bargain. Most short sale properties sit on the market because buyers fear a long wait to get a yes or no answer from a bank. This doesn't have to be the case.
Usually, if a Realtor® is savvy with listing short sales, they already know what to ask the seller in regards to bank needed info and will immediately do ...<< MORE >>
Taking the EMOTIONS out of selling a house
When I write a blog or comments, I always try to write about something that someone out there looking to sell or buy a house may find helpful. This is great for me for a few reasons. The first reason is I get to write about what I see in the field and experience every day, another reason is maybe you will find what I am writing about helpful, and possibly allow me to help you buy and or sell your home.
Today’s thoughts are tough simply because everyone, including myself has an emotional attachment to their home. I’m going to write from a Realtors® “educated” perspective.
The more listing appointments I go on the more clear it is to me. EVERYONE is aware of the market conditions, the media shoves it down our throat every day but please keep this in mind, the media paints a picture of gloom and doom constantly, market conditions vary throughout the country, everywhere is different.
Never the less, we ALL feel our home is worth more than our neighbors but when a Realtor® comes to your house for a listing appointment they should be armed with a CMA which is called a “Comparable Market Analysis”. This “CMA” should show you comparable homes in your area that have sold in the past, I also like to show present listings, it’s your competition.
All Realtors want to sell your home, that’s the fact, however just recently in my own area, I noticed a few Realtors pricing the home too low…I think of that as a “fire sale”. Be careful of this…you should be able to negotiate the selling price with your Realtor for a number of days..here is what I mean by that.
1. Set a starting price with your Realtor, their CMA should show a high and low price to indicate the high point and low point in regards to price. Ask the agent if you could start at the high end, if you feel you MUST try that, just do that for 2-3 weeks, no more. There is a “window of opportunity” as I call it when a house is first listed. Try not to miss out on that. A good indicator is the amount of traffic that is coming through your home. If it is nominal or non-existent, lower the price. Your Realtor will have a good idea where to take it after 2-3 weeks. Consider adjusting to the mid level of the range.
2. Be educated about the market around you before you start to interview Realtors. Be honest with yourself and look to see what has SOLD in the past 6 months…no more than that.
3. Online tools to help you – Zillow, Trulia and other, will all show you solds. ALSO in the area of Camden County, Burlington County and Gloucester County, I have a tool that will work great for this. It is called “Market Snapshot” and you can find this here. This incredible tool gives you the power to see what sold, for how much, how long on the market etc….all in real time from the MLS. Here is a picture of what it looks like
Remember, there are many factors in regards to selling a house, location, amenities, schools etc…keep this in mind.
Hopefully, I helped take the emotions out of selling your house.
If I can be of any assistance, please contact me.
Dave Sulvetta REALTOR®-Associate
Cell 856 889-8163
Century 21 Hearst
Camden County NJ Realtor, Camden County Real Estate, Gloucester County Realtor, Gloucester County Real Estate, Burlington County Real Estate
http://www.davesulvetta.com
http://www.camdencountyrealestatenews.com
email; dave@davesulvetta.com
Know YOUR Market! Get Market Snapshot It's 100% Free Click HERE
Gloucester County NJ Market Report for April 2008
Market Report For Gloucester County NJ April 2008
Units that were listed - 623
Listed Volume - 184,331,376
Average List Price - $295,877.
Properties that pended in April 2008 - 243
Properties that sold/settled in April 2008 - 245
Sold Volume - $57,990,675
Average sold Price - $ 236,696.
Average Days On Market - 96
Details for the SOLD units For April 2008
Minimum Prices
Original List Price - $74,900
Sold Price - $61,500
Maximum Prices
Original List Price -$799,900
Sold Price - $799,900
Average Prices
Original List - $256,529.
Sold Price - $236,696.
Information deemed reliable but not guaranteed. Information gathered from TReND.
Dave Sulvetta REALTOR-Associate
Cell 856 889-8163
Century 21 Hearst
Camden County NJ Realtor, Camden County Real Estate, Gloucester County Realtor, Gloucester County Real Estate, Burlington County Real Estate
http://www.davesulvetta.com
http://www.camdencountyrealestatenews.com
email; dave@davesulvetta.com
Camden County NJ Residential Market Statistics for April 2008
Here are the RESIDENTIAL Market Statistics for the Month of April 2008 as of May 5, 2008
Camden County NJ
Units that were listed in April 2008 - 1229 units
Total listed Volume was - 302,155,904
Average List Price -$245,855.
Average Sold Price – $205,333.
Properties that Pended – 404
Units that sold/settled -372
Sold Volume – 76,383,934
Average Days On Market – 83
Of the units that sold;
Minimum Prices
Original List Price- $12,500.
Sold Price - $16,500.
Maximum Prices –
Original List Price - $739,000.
Sold Price - $695,000.
Average Prices –
Original List Price - $222,003.
Average Sold Price - $205,333.
Information deemed reliable but not guaranteed. Information gathered from TReND.
Dave Sulvetta REALTOR-Associate
Cell 856 889-8163
Century 21 Hearst
Camden County NJ Realtor, Camden County Real Estate, Gloucester County Realtor, Gloucester County Real Estate, Burlington County Real Estate
http://www.davesulvetta.com
http://www.camdencountyrealestatenews.com
email; dave@davesulvetta.com
Market Statistics For Gloucester County March 2008
March 2008 had the following activity (residential) for all of Gloucester County NJ.
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Camden County NJ Market Statistics for March 2008
Market Statistics
For Camden County NJ
March 2008
March 2008 had the following activity (residential) for all of Camden County NJ.
Units that were listed- 1068
Cumulative dollar amount -$269,129,975 (total dollar amount for all homes listed in Camden County)
Average List Price Per House- $251,994
Pended- 332
Units Sold- 323
This means of the 332 homes that received acceptable offers, 323 of them actually sold.
The sold volume for the month was $63,645,102
Average Sold Price in Camden County – $197,043
Average Days On Market for a home- 89
Minimum price of a house that went on the ...
<< MORE >>Solving the Home Sale Pricing Puzzle - 8 Considerations for Sellers
I have recently read this article while searching the internet for sellers tips. This article is absolutely right on the money and with the gracious permission to reprint from Robert Jenson, you too can benefit from it. Enjoy!
Reprint-
RISMEDIA, March 28, 2008-Most sellers have an emotional connection to their home and feel it deserves top dollar when being sold. Everyone naturally wants to get the most money for his or her product, but “sellers must not be hasty with this all-important decision,” cautions real estate expert Robert Jenson, founder and CEO of The Jenson Group. “Indeed, the most common mistake that causes sellers to get less than they hope for is listing the sale price too high.”
Jenson notes, “Listings reach the greatest proportion of potential buyers within the initial days and weeks after hitting the market. If a property is overpriced early on, it will be dismissed - or outright missed - by prospective buyers and may result in price reductions that will reflect poorly on the listing. Overpriced properties languish on the market, and most end up selling at a lower price than would have been realized had it been priced properly in the first place.”
To help would-be sellers foster maximum profits with their real estate transaction, Jenson offers these insights on the various elements that must be considered when establishing a fair, competitive and marketable sale price for a home:
1. Square footage: Total square footage is an important consideration when establishing a home’s sale price, but this is usually just a starting point for buyers who will use it to narrow down the field, but make an actual purchase decision based on many other factors. There are some general rules of thumb to know when considering a home’s price per square foot, such as smaller homes generally get a higher price/foot than large homes, and single stories will sell for a higher price/foot than a two story.
2. Location within community: Homes that back up to a busy street get, on average, 10-20% less than homes elsewhere in a neighborhood. Anticipate this type of obstacle and factor it into the original sale price to avoid inevitable price reductions down the road, which reflect poorly on the listing and will likely cause it to sell at a lower price than would have been realized had it been priced properly at the onset. Quiet cul-de sacs, golf or water frontage, lots that offer privacy are value adds that can certainly justify a higher sale price than other homes in a community - or be leveraged as an advantage against competing listings.
3. Views…or lack thereof: Whether it is the ocean, a downtown skyline, the mountains, water or some other desirable landscape, buyers are willing to pay a premium for views and a home should be priced accordingly. Just be realistic. A view that can only be had by standing on the counter from the second story looking out the window to the left simply doesn’t count, and it’s inadvisable to dupe a prospective buyer by adding this to the listing’s MLS description.
4. Upgrades and features: It’s a simple formula: upgrades = sold. For a home to sell quickly and for the price desired, it must be “finished” with as many structural and interior design upgrades as possible…and nothing’s too small to leverage in establishing a home’s price point. From crown molding to faux paining to door handles and cabinet handles/knobs with modern finishes, to more obvious upgrades such as appliances, window, counter, cabinet and floor treatments, to swimming pools and surround sound wiring…any functional or beautification enhancement to a home are considerations in establishing its true value and strategic sale price.
5. Community amenities: Guard-gated communities or those with amenities such as a clubhouse, swimming pool and/or fitness center are also elements that often raise a home’s price per square foot. When pricing a home without these benefits, know whether you are competing against other homes that do offer such value adds so that you can price your home as aggressively and competitively as possible.
6. Comparable sales: Price your home referencing sold comparables -price per square footage of other homes that have already sold in your community - up to 3-months old maximum, as looking beyond 3-months is simply not a realistic portrayal of current market conditions and may steer you in a wrong direction. It’s also as important to compare your listing to active competing listings - homes currently for sale, which is the best tool for honing an effective pricing strategy - particularly for highly motivated sellers.
7. Professional appraisal: Sellers often frown on the idea of paying for an appraisal before there’s even an offer on the table, but doing so is actually one of the most important things a seller can do in pricing a home relative to current market conditions. Want to sell the home quickly? Price it at or below the appraised value as buyers are educated, are shopping deals, and will recognize your fair price and be more apt to pay it with less haggling.
8. Current mortgage conditions: The current mortgage market has tightened its proverbial belt and many lenders now require higher credit scores coupled with higher down payments, which can cash strap a buyer who will most definitely be holding out for the best deal possible. Every seller naturally wants to get the most money for his or her product, but a savvy seller will understand the mortgage industry’s impact on the buyer and will price accordingly.
For more information, visit http://www.thejensongroup.com.
Dave Sulvetta REALTOR-Associate
Century 21 Hearst
Camden County NJ Realtor, Camden County Real Estate, Gloucester County Realtor, Gloucester County Real Estate, Burlington County Real Estate
http://www.davesulvetta.com
http://www.camdencountyrealestatenews.com
email; dave@davesulvetta.com
Photography and Real Estate - Perfect Together (GOOD PHOTOGRAPHY THAT IS)
http://blogs.wsj.com/developments/2008/03/03/why-dont-real-estate-agents-use-better-photos/#comment-12787 ...<< MORE >>
Gloucester County February Settled report
Gloucester county Settled for the month of February 2008
This is for 3-5 bedroom homes.
For Gloucester County this report to shows much promise in the market.
107 Homes Settled for the month of February of which the average list price was $278327.49 (total $29,502,713) and the average settled price was $268,275.31. for a total of $28,437,183.
Only 38 sellers gave concessions. The high selling price was $815500. The low selling price was $70,000.
There were 4- five bedrooms, 50- four bedrooms and 52- three bedrooms.
Dave Sulvetta REATOR-Associate
Century 21 Hearst
Camden County Real Estate, Gloucester County Real Estate, Burlington County Real ...