All Entries in the "Selling" Category

Is FSBO the Way to Go?

Home sellers were living large in the peak of the real estate market.  In Jupiter, Florida many home buyers were sleeping overnight on local builders’ doorsteps for a chance to purchase a home.  Since that time, the market has taken a dive.  Short sales are more common and foreclosures have not only permeated the market, but have contributed to the dramatic decrease in home prices.

Now many home sellers wonder if selling their home themselves is a more profitable option.  I always tell people who ask to take a look at the facts and understand the amount of work involved to sell your home yourself.

Most Difficult Tasks for FSBO Sellers:

FSBO Methods Used to Market Home:

Typical Home Sold:

The most difficult task for FSBO Sellers is understanding the paperwork followed by getting the right price/fixing up home for sale.  Your first option would be to hire a real estate attorney who can interpret documents and advise you on the rules and regulations for selling your home yourself.  After the cost, consider the availability of your attorney.  Questions arise at unexpected times and will you be able to get answers from your attorney quickly?  The second option is hiring a REALTOR® (see my article Why Hire a REALTOR®).  A REALTOR® is trained to understand paperwork, pricing your home and helping you to prepare your home for sale.

The largest and most time consuming part of the job is marketing your home.  How will you get the news out that your home is for sale?   The most used for FSBO’s is the yard sign.  No question, it is a great marketing tool for us REALTORS®.  However, using that alone may not get your home sold.  Most REALTORS® use all of the marketing methods listed above and more including the MLS (Multiple Listing Service) a primary selling tool in real estate.  The MLS alone markets to over 14,000 other REALTORS® in our area.  It is a powerful
tool.

The most powerful statistic is the price of the typical home sold.  In the above scenario, an agent assisted home sold for $59,800 more.  In our area, the standard REALTORS® commission rate is 6%.  Subtract that from your sale price ($14,820).  You end up with $44,980 more than if you had sold the home yourself.

Source:  2007 National Association of REALTORS® Profile of Home Buyers and Sellers

Joe Quirk, Broker for Cobblestone Realty in Jupiter, Florida.  He is also a real estate investor and has investment property throughout Palm Beach County. Contact Joe at (561) 427-9326, by e-mail, or visit our website www.CobblestoneFL.com to learn more.

How to Make Your Home for Sale Outbeat Your Competition

There was a time not long ago, your home would sell the same week that it was listed in the Jupiter real estate market.  But that was then and this is now.  Times are tough and many clients ask, “How do I make my home competitive in this real estate market?”  In this market, this is the time to present your home at its best.  Many of the properties in Jupiter, Palm Beach Gardens and even Juno Beach are short sale or foreclosures.  That can be to your advantage.  Most of those homes are not kept up as well.  Here is where you have the opportunity to outshine your competitors.

There are a few basic things you need to do to make sure their home gets noticed first, gets viewed first, and sells first. These things are a combination of enhancing the home’s curb appeal and interior detail, plus a few thoughtful touches that make the viewing experience more enjoyable for prospective home buyers.

First, take a look a your home’s exterior. Now compare that to photos of other homes listed in your neighborhood.  Visually, which home is more appealing?  If it is not your home, you have some work to do. It’s hard to look at your home with a detached eye, but it is necessary. Set aside the years of good memories and try to “be the buyer,” note any small details that need fixing or a cosmetic touch up and get those done.

Next, turn your attention to the inside. Most homes are a bit to cluttered to show off the details of a home’s interior. This is not to say that a home is messy, it’s just “lived in.” Try to minimize the amount of furniture and “stuff” in your home. If necessary, remove some things and put them in storage. You are going to be moving soon anyway, why not get a head start on it? The more “open” your home feels, the better for showing. Remember to clean off all counters and clean the closets. Buyers are nosey and will open all the closets, cabinets and cupboards to ensure there is enough room for their things.

Lastly, make sure that your home is welcoming when people come to view it. Keep the temperature cool if it is one of your typical hot days in Florida. It will probably be necessary to clean the home daily to maintain its pristine condition. Also, little things like pleasant aromas can help people to feel more at home, cinnamon or chocolate chip cookies are very comforting smells. But if you utilize these, make sure there are some snacks available as viewers might get the munchies!

Why Use a REALTOR® When Selling Your Home?

A real estate agent can help you understand everything you need to know about the home selling process.

Not all real estate licensees are the same; only those who are members of the NATIONAL ASSOCIATION OF REALTORS^® (NAR) are properly called REALTORS^®. They proudly display the REALTOR “®” trademark on their business cards and other marketing and sales literature.

REALTORS^® are committed to treat all parties to a transaction honestly. REALTORS^® subscribe to a strict Code of Ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reported that 84% of home buyers would use the same REALTOR^® again.

Real estate transactions are one of the biggest financial dealings of most people’s lifetime. Transactions today usually exceed $250,000. If you had a $250,000 income tax problem, would you attempt to deal with it without the help of a certified professional accountant? If you had a $250,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be wise to work with a professional REALTOR^® when you are selling a home.

If you’re still not convinced of the value of a REALTOR^®, here are more reasons to use one:

1. When selling your home, your REALTOR^® can give you up-to-date information on what is happening in the marketplace as well as the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.
2. Often, your REALTOR^® can recommend repairs or cosmetic work that will significantly enhance the salability of your property.
3. Your REALTOR^® markets your property to other real estate agents and the public. In many markets across the country, over half of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer.
   Your REALTOR^® acts as the marketing coordinator, distributing information about your property to other real estate agents through a Multiple Listing Service (MLS) or other cooperative marketing networks, open houses for agents, etc. The REALTOR^® Code of Ethics requires REALTORS^® to utilize these cooperative relationships when they benefit their clients.
4. Your REALTOR^® will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. NAR studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your REALTOR^®, you do not have to allow strangers into your home. Your REALTOR^® will generally prescreen and accompany qualified prospects through your property.
5. Your REALTOR^® can help you objectively evaluate every buyer’s proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing – and a lot of possible pitfalls. Your REALTOR^® can help you write a legally binding, win-win agreement that will be more likely to make it through the process.
6. Your REALTOR^® can help close the sale of your home. Issues may arise between the initial sales agreement and closing (also called settlement or escrow), for example, unexpected repairs might be required to obtain financing or a title problem is discovered. The required paperwork alone is overwhelming for most sellers. Your REALTOR^® is the best person to objectively help you resolve these issues and move the transaction to closing. 
   

Pricing your Home in a Down Market

Many questions begin to flood a homeowners mind when preparing to list their house for sale.  Should I sod the lawn?  What repairs will I need to make before I list my home?  Should I paint the inside?  All are important questions.  Especially in our current market when homes are sitting for longer periods of time.  However, pricing your home to sell is going to be the most important decision you can make.  We’re in a tough market, but no matter what kind of market, price is always going to determine if and when your home will sell.  Here’s a video from Bankrate.com to help you price your home to sell in a bad market.

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Susanne Quirk is a Realtor® with Cobblestone Realty specializing in residential homes in Jupiter, Juno Beach, Palm Beach Gardens, Florida. Contact Susanne at (561) 386-0350, e-mail, or visit our website www.CobblestoneFL.com to learn more.

Stage Your Home to Sell with Free Help from Robb & Stucky

We all can agree that the most important decision you can make when selling your home is pricing it to sell. The price determines whether your home sells or sits on the market. However, the next important factor after pricing is appearance. A well designed, functional home where home buyers can easily see themselves living in your home will move off the market fast and for the right price. Before you list your home for sale with a Realtor® or even if it is already listed and not selling, take inventory of the appearance of your home.

Start at the curb and make sure your lawn is neatly trimmed, any debris and unnecessary items are removed, fill bare rock gardens, paint worn doors must be freshly painted. Make it look as fresh as your budget allows. Inside the home all clutter must be removed, excess furniture, pictures, ornaments. Keep it clean and simple. This is not the time to display an abundance of personal photos. Home buyers need to visualize themselves in your home. Personal photos and items can distract tremendously. CLEAN your home. Homes with years of dust, grime in tile grout, layers of dirt around light switches, doors, etc. is a huge turn off to home buyers. They will not see past the dirt and grime. They will walk in and right back out. It doesn’t matter how well priced that home is. Filth and odor is a turn off!

Next, take into consideration at how functional your home is with the contents within it. A client and I were viewing some homes yesterday. One home was vacant and left us feeling uneasy and seemed disjointed. It just didn’t flow. When we went to the second home, we found a huge difference. It was the same floor plan, but having been filled with furniture it really helped improve the flow of the home. Each room of your home has a purpose and should be staged appropriately to not cause confusion or leaving buyers feeling uncomfortable.

A great way to learn more about staging your home is to visit designer showrooms. But, before I go any further, I need to explain how home staging differs from interior design before all the professional home stagers come after me for confusing the two. Staging your home is not the same as designing your home. Home staging is designing your home to sell. You are designing for the general buyer not yourself or your family. An interior designer helps you to design your home to your tastes and needs. However, I do think as a someone selling their home, you can learn a great deal from the world of interior design on how to take what you have and arrange it to where your home is pleasing and functional for it’s purpose to sell.

I also believe in using all the resources available to you. One resource is at Robb & Stucky. The designer showroom off of PGA Boulevard offers free seminars throughout the year. Take advantage of what the seminars have to offer. You can take the opportunity to discuss your situation with one of their designers. You may even take away some ideas for your future home!

If you find you need the services of a professional home stager, call or email me. I can lead you to some great professionals in the area.

Stage Your Home To Sell with Free Help From Robb & Stucky

We all can agree that the most important decision you can make when selling your home is pricing it to sell.  The price determines whether your home sells or sits on the market.  However, the next important factor after pricing is appearance.  A well designed, functional home where home buyers can easily see themselves living in your home will move off the market fast and for the right price.  Before you list your home for sale with a Realtor® or even if it is already listed and not selling, take inventory of the appearance of your home.

Start at the curb and make sure your lawn is neatly trimmed, any debris and unnecessary items are removed, fill bare rock gardens, paint worn doors must be freshly painted.  Make it look as fresh as your budget allows.  Inside the home all clutter must be removed, excess furniture, pictures, ornaments.  Keep it clean and simple.  This is not the time to display an abundance of personal photos.  Home buyers need to visualize themselves in your home.  Personal photos and items can distract tremendously.  CLEAN your home.  Homes with years of dust, grime in tile grout, layers of dirt around light switches, doors, etc. is a huge turn off to home buyers.  They will not see past the dirt and grime.  They will walk in and right back out.  It doesn’t matter how well priced that home is.  Filth and odor is a turn off!

Next, take into consideration at how functional your home is with the contents within it.  A client and I were viewing some homes yesterday.  One home was vacant and left us feeling uneasy and seemed disjointed.  It just didn’t flow.  When we went to the second home, we found a huge difference.  It was the same floor plan, but having been filled with furniture it really helped improve the flow of the home.  Each room of your home has a purpose and should be staged appropriately to not cause confusion or leaving buyers feeling uncomfortable.

A great way to learn more about staging your home is to visit designer showrooms.  But, before I go any further, I need to explain how home staging differs from interior design before all the professional home stagers come after me for confusing the two.  Staging your home is not the same as designing your home.  Home staging is designing your home to sell.  You are designing for the general buyer not yourself or your family.  An interior designer helps you to design your home to your tastes and needs.  However, I do think as a someone selling their home, you can learn a great deal from the world of interior design on how to take what you have and arrange it to where your home is pleasing and functional for it’s purpose to sell.

I also believe in using all the resources available to you.  One resource is at Robb & Stucky.  The designer showroom off of PGA Boulevard offers free seminars throughout the year.  Take advantage of what the seminars have to offer.  You can take the opportunity to discuss your situation with one of their designers.  You may even take away some ideas for your future home!

If you find you need the services of a professional home stager, call or email me.  I can lead you to some great professionals in the area.

Susanne Quirk is a Realtor® with Cobblestone Realty specializing in residential homes in Jupiter, Juno Beach, Palm Beach Gardens, Florida. Contact Susanne at (561) 386-0350, e-mail, or visit our website www.TheJunoBeachRealtor.com to learn more.

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Buying or Remodeling A Home with Asbestos

The following article is from Jesse Herman, Awareness Coordinator at the Mesothelioma Cancer Center.  It is a great article on the dangers of Asbestos.  Critical information for homeowners and buyers of homes built before 1980.

Abestos Removal and Greener Alternatives

There are many things to consider when remodeling or purchasing an older home. Homes built before 1980 have the strong likelihood of containing asbestos. Due to a steady progression of technology and green sustainable methods, there are many ways to ensure your home or property is asbestos free. If you are interested in saving money, remodeling and improving your carbon footprint, here is some information to get you on the right track.

Used in millions of homes throughout the last quarter of the 20^th century, asbestos insulation can become a real dilemma for homeowners due to causing a variety of health problems, including Peritoneal
Mesothelioma and Malignant Mesothelioma. These types of cancer take the lives of thousands each
year.

Non-regulated asbestos material can be legally performed by homeowners, regular contractors, or licensed asbestos abatement contractors as long as the National Emissions Standards for Hazardous Air Pollutants(NESHAP) are not violated.  Asbestos removal in public facilities, homes and workplaces must be undertaken
by a licensed asbestos abatement contractor. Once the removal is complete, green insulation options should be given serious consideration, such as:  Cellulose, Cotton Fiber and Lcynene.

The United StatesGreen Building Council(USGBC), in a study conducted in 2003, estimated a savings of $50-$65 per square foot for well-constructed green buildings in the U.S. (see table below) during that year. The numbers continue to improve as more eco-friendly options become available, and those kinds of figures have finally begun to attract those who thought eco-friendly construction was just a bunch of hogwash.

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The Answer is Short Sale Not Foreclosure

There are many homeowners who are struggling to meet their mortgage obligations.  In April, 2008 there were over 1,600 foreclosures in Florida alone.  Homeowners and investors alike are foreclosing on their properties at a quick pace. 

However, foreclosure is not the only option.  In fact, it should be the last option you use to solve your problems.  Foreclosure is the most severe offense you can have against your credit.  It will take six years before you can purchase another home.  Believe me, it may seem like the right solution now, but six years is a long time.  You will want to begin building your life and credit way before then.  You will spend many years regretting you ever did it.

Before you jump into foreclosure, see if you are a candidate for a Short Sale.  If you owe more than your house is worth, are late in your mortgage payments, and possibly facing foreclosure; you very well could be eligable.

Basically what you are doing is asking the bank to allow you to sell your house for a lower amount than what you owe on the mortgage.  It is a lengthy and tedious process.  There are endless phone calls to the bank, lengthy forms to fill out and the burden of selling your home.  But, it can be done without much effort on the homeower’s part. 

A Realtor® specializing in short sales can make the process simple and smooth.  You just have to be patient, because it can take time.  Short sales can be tied up with the bank for as long as six months, but three months being the average amount of time.  Besides you providing pertinent documentation, all other processes are handled by the agent.  Your credit is repaired in half the time of a foreclosure.  Making it easier for you to move on with your life.

Not sure what to do now?  The first step is to call a Realtor®.  I have been trained in the short sale process and will be glad to help you with your short sale or answer any questions for you. 

Contact Susanne Quirk by email or by phone (561) 386-0350.

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Troubled Homeowners

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Florida Template for Recovering Housing Market

We’re beginning to hear positive reports from the news media about the housing market. Especially here in Florida.  Jim Cramer from The Street in a recent video was comparing real estate to stocks, he positions Florida as the “template” for how the housing market will unfold for rest of the nation.  Florida was one of the first and worst states hit hard by the housing market.  Now rebounding, Cramer credits the low housing inventory for its turnaround.  Building ceased two years ago and purchases continued to help dry up the inventory.

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