Selling? It's all in the details

For those of you getting ready to put your house on the market, there are many DIY things you can that will attract your buyer. Getting rid of clutter, adding a plant to the entryway, and going for neutral colors are all great ways to get the buyer to imagine themselves at home!

Source: pixabay.com

10 Important Details That Are Often Overlooked By Home Sellers
Forbes Real Estate Council | March 7, 2018 | Forbes.com

First impressions are formed in a one-tenth of a second. It is this knee-jerk reaction that helps us formulate whether we like something or not, and it can also make the difference in whether your home sells quickly or not at all. 

Making a good impression with home buyers needs to happen the instant they enter your house, creating interest and a desire to have your home as their own. All too often, sellers forget to take care of the small details that can easily turn a buyer off, ultimately taking longer to sell and often at a reduced price.

Weighing in these important and often overlooked home elements are 10 members of Forbes Real Estate Council. They recommend all home sellers take care of these details before allowing their real estate agent to show their home to a potential buyer:

1. Curb Appeal 

Curb appeal is key. Cleaning up the yard, planting fresh flowers and mulching can go a long way. You want to appeal to the emotions of the buyer. Once you have them hooked, your house will be sold. Cleanliness and appearance are ultra-important. - Timothy VandenToorn, United Properties of West Michigan

2. Minor Touch-Ups

Before you allow your home to be shown, please be sure to touch up anything, including paint, woodwork and small items, especially on the exterior of the home, before they get inside. First impressions are so important, and you need to make sure the little things are taken care of because that's the beginning of the showing. If it starts badly, it's more difficult to get them wanting to buy. - Kevin Taylor, Sand to City Real Estate Team 

3. Welcoming Environment

Don’t forget to make your house look like a home. It’s important to remove the clutter and distracting personal details, but you also want a potential buyer to be able to picture themselves in that house. Bake some cookies before a big day of showings for that lingering cookie smell, or invest in some flameless candles for a cozy ambiance. A welcoming environment is key for first impressions. - Joshua Hunt, TRELORA

4. Clean Closets 


The size of bedroom closets — especially in the master bedroom — can be a make/break moment for a prospective buyer. A neat, organized closet that showcases space and functionality can truly make a difference. - Lisa Fettner, ReferralExchange

 5. The Forgotten Front Door

Many homeowners are accustomed to tidying and cleaning inside the house but many forget about the front door. Given that it's technically "outside," many don't feel it's significant, but the truth is, the front door accumulates a lot of dirt and is frequently what buyers are staring at while they wait for their agent to open the lockbox. Give buyers something pleasant to look at before they enter. - Thomas McCormack, Resources Real Estate

6. Neutral Artwork 

A seller wants buyers to be able to imagine themselves living in their home. But that Velvet Elvis painting you've had since school, that bright orange and green sunburst sculpture over the fireplace you bought on a vacation or that bronze bust of your favorite politician are all no-gos. Store them; bland is best. You don't want to be remembered as "that home with the puke-green yard sculpture." - Kevin Hawkins, WAV Group, Inc.

7. The Smell Test

I cannot tell you how often buyers will reference homes by their scents — and usually not in a good way. Simple fixes for common offenses can usually be found in general, carpet and upholstery cleaning, removing clutter and any/all air fresheners and potpourri, — and in a real pinch, fresh paint on walls. Better to be remembered as the house that smelled of fresh paint. - Beverly Serral, Beverly Serral Signatures 

8. Clean Surroundings

Even before getting to the front door, first impressions start on the road when driving to the property. Keeping the yard trim is one thing, and tidying up the house is another, but if the street or other close properties (such as a vacant lot) are littered with trash, take the time to go out and clean it up. It will make all the difference in the sale. - Kent Clothier, Real Estate Worldwide 

9. Tidy Garage

The garage almost always tells the truth about how the property has been maintained. If it's a complete mess, stuffed full of boxes, furniture and junk, buyers assume the well-staged interior is just a facade. If, on the other hand, the garage is clean and well organized, the buyer assumes that the same level of attention and detail went into maintaining the home. - Joe Boylan, SpringsHomes

10. Appealing Photos And Listing 


Historically, curb appeal was the first impression a potential buyer would encounter. However, with the advent of technology, this is no longer the case. Most buyers will spend time researching your property online before they ever drive up to the physical location. Be sure you have professional photos and that your agent is creating an appealing listing online prior to ever showing the place. - Sarnen Steinbarth, TurboTenant


This article originally appears on Forbes.com

Is 20% Down the Right Move?

There seems to be hesitation these days in answering the question whether or not a homebuyer needs a large chunk of money in order to buy a home.  There are many avenues and products available to the home purchaser, many of which do not require such a hefty downpayment.  Often times, in today's market, that's simply not available for many first-time home purchasers.  From the Richmond Times Dispatch, comes advice from their expert broker.  

Ask the Broker

By Peter G. Miller

20% DOWN?

Question: We’re interested in buying a home and can purchase with 20 percent down.  Would it make more sense to buy with less money up-front?

Answer:  There’s no rule that says you have to buy with 20 percent down if you have it, but it’s a choice that lenders love.  The logic is: If a home is purchased with 80/20 financing, the lender has a big cushion if something goes wrong.  Example: You buy a home for $300,000 with 20 percent down, lose your job, the house is foreclosed and the property sells at auction for $260,000.  That’s a loss of $40,000 but to the lender there is no loss.  The property sold for $260,000, but the property was financed with a $240,000 mortgage (80 percent of $300,000).  The $260,000 from the foreclosure sale allows the lender to be completely paid back.

    Buying with 20 percent also has advantages for purchasers.  You’ll owe less, so the monthly mortgage payment is smaller.  With 20 percent down there’s no requirement for private mortgage insurance, a big savings.  If you have some credit dings, a big down payment is likely to be seen as a compensating factor that will make your mortgage application more attractive.

    But while lenders like financing with 20 percent down, you may not.  It takes a long time to save so much money, a tough job for many.  According to a 2016 survey by GoBankingRates.com, most of us— almost 70 percent — have less than $1,000 in savings.

    In today’s world buying with 20 percent down is a luxury for most purchasers.  According to the National Association of Realtors, in 2016 first-time buyers typically bought with 6 percent down, and repeat purchasers were able to pay 14 percent up-front.

    As an alternative to 20 percent down you can readily finance with the FHA and 3.5 percent up-front.  VA-qualified borrowers can purchase with nothing down.  There are also new conforming loans with just 3 percent down.

    Why would you want to purchase with less down if that means higher monthly costs and some form of mortgage insurance?

    You might have a better use for the down-payment money such as starting a business or paying off education debt.  You might be more comfortable with cash in the bank.  Having cash on hand can be important in the event of emergencies.  And, while you may be able to buy with 20 percent down, will you then have enough funds for closing, moving and repairs?

VALUE PROPOSITION

Percentage of single-family homes in the U.S. that currently are worth more than they were before the Great Recession.

PDF available for download on our website Homefields.net

Article originally appears in RTD Homes Saturday, September 9, 2017 issue. 

Welcoming Autumn and the changes it brings!

Not a bad view of RVA's skyline from Old Manchester

With Labor Day behind us, Richmond is now ushering in one of our most beloved times of year, Autumn. The changing of the seasons always brings excitement and anticipation.  Whether or not you have kids in school, it brings up an eagerness to gather, nest, and ready for winter.  Our lazy summer days will soon be over and with the cooler weather comes time for action - at least that’s how we feel!

One of the things we love most about our Real Estate business is that it’s never dull.  As we write this, Randy and I are taking a new step in our journey.  As our children have their children and build a nest of their own, we are embarking upon a new adventure for ourselves!  Our home is currently on the market (see back cover) and we are in the process of building a duplex in the Old Manchester district of south Richmond.  We have been looking for our own opportunities in real estate investment, and once we explored this area more closely, realized we would love to be a part of its progress.  If you aren’t familiar with Old Manchester, it is a vibrant, up-and-coming neighborhood with well known RVA staples like Plant Zero and Legend Brewing Co. being joined in the ranks by small business newcomers that see opportunity in this thriving new destination.

I think it’s healthy for a Realtor to have to buy and/or sell every few years to remember what it’s like to be a client!  As a seller, you open your doors to strangers coming in and critiquing this home that you have loved.  As an owner/agent, you are especially aware of the things about your home that you cannot change.  As a buyer, you understand how everyone is looking for something specific to fit their lifestyle; downsizing, upgrading, or multi-family - there are lots of goals one can reach through homeownership.  

Real Estate is both an art and science.  There is a science to Comparative Market Analysis, pricing your property to sell and understanding the market.  But there is also an art - it’s a very human transaction with highs, lows and many emotions in-between.  Randy and I will continue to share our experiences and adventures in hopes that it will make us even better Realtors for you!