Tag Archives: home buy

Top 7 Buyer and Seller Real Estate Myths

7 Real Estate Myths for Buyers and Sellers

Are you considering buying or selling a home?  We are sure that you have lots of experts offering all kinds of advice. The experts offering you advice may come from a variety of sources such as the post office or your car wash attendant or your cousin or brother or trainer in the gym; right? Sound familiar? When it comes to real estate it seems that everyone is an expert. But take a moment to really think about it. You have the largest single asset that you will buy or sell and we often listen to people that are the least qualified to give you advice. I am sure that all have good intentions but what is really being offered is just their opinion, so treat it as such.

We’ve put together a list of the top real estate myths for both buyers and sellers for you to think about.

This is part of a continuing series of articles and helpful tips and insights into real estate and life style transition services by Nick Santoro and Joe Santoro of Personal Property Managers (www.personalpropertymanagers.comPersonal Property Managers specializes in senior transition services such as downsizing, content clean out and removal, estate sales, full service real estate and property sale and moving and services PA and NJ.

7 Common Real Estate Myths:

Set your initial home selling price higher that you want. Listing your home at a price that’s too high a price may actually net you a lower price. That’s because shoppers and their real estate agents often don’t even look at homes that are priced above market value. It’s true you can always lower the price if the house doesn’t generate any offers in the first few weeks, but that comes with its own set of problems. Buyers are highly suspicious of houses that have sat on the market for more than three weeks.

Don’t use a real estate agent…get a better price for your home. Wow…that’s a great one right? Wrong. If the house is listed with a real estate agent, the total sales commission is built into the price. If the buyers don’t have an agent, the seller’s agent will receive the entire commission.

Sell your house on your own and save money. Some people do successfully sell homes on their own, but they need the skills to get the home listed online, market the home to prospective buyers, negotiate the contract and then deal with any issues that arise during the inspection or loan application phases. It’s not impossible to sell a home on your own, but you’ll find that buyers expect a substantial discount when you do, so what you save on a real estate commission may end up meaning a lower price. It’s not impossible to sell your home on your own for the same price you’d get with an agent, but it’s not easy.

Hold out a little longer…the market will go up. In recent years, homebuyers and sellers have experienced a time of increasing home values, then a sharp decline during the economic downturn and now another period of increasing values. Most seller think that the market only goes up; who can predict when a correction will come? The recent recession should have reminded everyone that real estate prices can indeed fall, and fall a lot.

Definitely renovate your kitchen and bathroom before you sell. If your kitchen and baths work, a major remodel could backfire. Prospective buyers may not share your taste, but they don’t want to redo something that has just been renovated. In many cases you are better off adjusting your price accordingly.  Additionally you may only get back 20 cents on the dollar if anything at all. Most buyers want to put their own spin on things.

Renovate. Don’t worry, You will get your money back.  Wrong. If you fix the heating and air conditioning system or roof, you will sell your house more quickly, but you probably won’t recoup what you spent. According to Remodeling magazine’s the only renovation that is likely to net you as much as you spent is a new front door. You’re likely to recoup only 67.8 % of what you spent on a major kitchen remodel and 70 % of what you spent on a bathroom remodel on a mid-range home. Very few things will bring you great returns. If you’re going to do these projects, it’s better to do them for your own enjoyment.

Open houses sell properties. Homes rarely sell to buyers who visited them during an open house. Agents like open houses because it enables them to find additional customers who are looking to buy or sell homes. If you or your agent choose not to have an open house, it probably doesn’t hurt your sale chances – although holding a broker’s open house for other agents may be worthwhile.

For more information on helping seniors in transition or home downsizing please contact Nick Santoro or Joe Santoro of Personal Property Managers at www.personalpropertymanagers.com  or simply give us a call at 215-485-9272 or 908-368-1909. Personal Property Managers specializes in helping to transition elderly ones from their home of many years into senior care communities. Personal Property Managers services Pennsylvania and New Jersey and offers downsizing services, estate sales services, home staging, full service real estate services via its association with Every Home Realty to help sell homes with proceeds going towards paying for the long term care of elderly loved ones and moving services

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Top 4 Tips to Selling your Home the quickest and at the best possible price

4 Quick Tips for helping to sell your home

There are lots of different points of views on when and how to sell your home. We are often asked what are the best things we can do to get the most value for our home when the time comes to sell it? Beyond the obvious, which is keeping it clean and de-cluttered, we’ve come up with 4 key things you can do and consider when selling your home.

This is part of a continuing series of articles and helpful tips and insights into help you you’re your home by Nick Santoro and Joe Santoro of Personal Property Managers (www.personalpropertymanagers.com ) Personal Property Managers specializes in real estate sales and marketing, home downsizing, content clean out and removal and estate sales, and services Pennsylvania and New Jersey.

How a home looks and feels to a potential buyer can make all the difference. Spring is the biggest season in the real estate market, and while many in the area may be about to put their homes on the market, there are some practices to keep in mind when doing so, Nick Santoro of Personal Property Managers said.

How a house is presented can influence how long the house will sit on the market and even how much money the seller can sell the house for. Santoro said there are many small things that a seller can do to make sure the house isn’t on the market for a long period of time. Nick says “you only have one chance to make a first impression, and making a good first impression can go a long way in selling your house.”

If potential buyers feel comfortable in a house and can see themselves living there, they are more likely to buy or consider the house.

Here are four tips we often share with our clients on how sellers should present their homes when looking to sell:

Declutter and keep your home as clean as possible
This may seem simple, but people touring the house like to see clean and polished homes.
Little things such as if the burners are dirty or if the light switches have smudges on them can really turn a buyer off.

A lot of times it’s the little things that can make a big difference in buyers’ minds. For example, things such as stains in the carpet, dirty appliances and clutter lying around the house should be taken care of before showing the house.

Since people selling the house will soon be moving, now is when sellers should start cleaning their house and getting rid of unnecessary items.

We encourage people to not clutter up their houses by putting all of these items in one spot, such as a garage or basement because potential buyers have trouble looking past the mess.
If the house is cluttered, sometimes people will wonder what else on the property hasn’t been taken care of.

Home inspection
One of the most important things a potential seller can do is get a full home inspection prior to putting the house on the market. Joe Santoro, of Personal Property Managers points out that even if there is a meeting of the minds between the buyer and seller as to price, and bank approvals are in place, a buyer home inspection can bring to light many things that need to be addressed. This is often the time when most deals blow up. Many times sellers are insulted with a home inspection report and buyers feel that all items identified in the inspection report need to be addressed by the seller. This could run into the thousands of dollars. Thus, we advise sellers to spend the money to get a home inspection in advance of putting their home on the market to be pro-active in addressing these issues.

Since most sellers put their houses on the market three to six months before selling, an early home inspection can give early warning signs about potential repairs or problems with the house.
If you find out ahead of time, it’s easier to make those repairs and get the house ready; you don’t want the new owners thinking you cut corners.

Making repairs on the house after the fact can delay the closing and cause more headaches in the long run.

Curb appeal
Things such as landscaping can give homes high curb appeal, making them take less time to sell.
While sellers may not get the same value back that they spent on how the house looks, it does make a big difference in the eyes of potential buyers.

Nick says that when the house looks nice on the outside, it sets the tone for what is on the inside.
Trees make a big difference in both providing shade for the yard but also by providing a more homey feel.

A well-taken care of yard will do wonders for potential sellers. Even if it’s minor fixes such as mowing the grass or painting the shutters, potential buyers will enjoy the house’s curb appeal.

Blank walls

Lastly, one thing potential buyers try to do when touring a home is picturing themselves at that particular residence.

One way to help them do that is by taking personal photos off of the refrigerator and walls.
By removing personal objects, the person walking through can imagine his or her family photos on the walls and not someone else’s.

People want to imagine living there, by taking things off the walls, they’re able to do that more easily.

For more information on real estate or home downsizing please contact Nick Santoro or Joe Santoro of Personal Property Managers at http://www.personalpropertymanagers.com or simply give us a call at 215-485-9272 or 908-368-1909. Personal Property Managers specializes in helping to home owners transition from their home of many years into a new community. Personal Property Managers services Pennsylvania and New Jersey and offers downsizing services, estate sales services, home staging, discount full service real estate services via its association with EveryHome Realty.

Top 10 tips – to maximize your home value when trying to sell it

Top 10 tips for maximizing the value of your home…when you are considering selling it, by Nick Santoro and Joe Santoro, certified Senior Real Estate Specialist, Personal Property Managers.

  1. Remove unneeded items. When you have less clutter in your home it just makes your home look bigger, roomier and cleaner. Take your time. Go through your home and make piles of items and consider putting them in 3 categories; those you want to keep, those you want to get rid of and those you are still deciding and are on the fence with. This will make your life a lot easier and organized.
  2. Price it right. It is important that you have a complete understanding of your competition and price your home right, right from the beginning. Your real estate professional with develop a comparative market analysis to assist you in this area. A home that is priced well above the local market or above similar homes will not sell quickly, or possibly at all. Remember you only have one time to do it right and that must be right from the beginning.
  3. Work with a Pro. Having a good real estate agent or broker can make all the difference in the world. Today’s real estate market has rebounded. Your local professional realtor will assist you in the selling process. Today’s buyers are very careful and are value shoppers. A well conditioned home, priced right is the key to success. An agent who knows how to market and advertise your property, and who has good experience and connections, will be a huge asset.  
  4. Develop a marketing plan. The standard approach may not work for every property. When you decide upon an agent, make sure that he or she develops a customized marketing plan that fits you and your property. This may include social media marketing and a host of other online avenues well beyond a traditional flyer or sign on the lawn.
  5. Be very mindful of your pricing strategy. If your home isn’t getting a lot of activity or selling within a decent time period, usually within 30-60 days, work with your real estate professional to  consider changing the deal or make a price adjustment.  Offering a seller contribution is a great example. Be creative. You may want to consider offering a seller assist or a flat screen TV.   
  6. Get your finances in order. Consider having a home equity line of credit in place, should you need to relocate outside the area with your home unsold or if you happen to find the home of your dreams and your home is not sold. This way, you’ll have funds available.  Be aware, however, that if your current home doesn’t sell in a reasonable time period, you may be saddled with multiple mortgage payments. 
  7. Fix it up. It is very common for most buyers to ask for a home inspection. You’ll save time by getting a preliminary home inspection yourself and making repairs before putting the house on the market. In today’s market many potential buyers don’t want to buy a new home then turn around and invest more money to fix it up.  
  8. Ask for buyer feedback. Find out what potential buyers thought after a showing or any open houses you may have had. Take negative comments as constructive criticism, which will help you fix any flaws and capitalize on your strong points. 
  9. Watch out for buyer requested financing. Try and avoid at all cost a request from a buyer for you (the seller) to hold on to financing towards the purchase. Loans at fantastic rates are readily available. Don’t go into the banking business when there is less risk to you with an outright sale and traditional buyer financing.
  10. Be available for buyer showings at unusual times. If a potential buyer wants to see the house at an unusual time such a early morning or late at night, then so be it and do what you can to accommodate them. Don’t turn down a potential buyer…you just never know…

For more information on tips for selling your home (via our association with EveryHome Realty), downsizing, estate sales, elderly transition please contact Nick Santoro or Joe Santoro, from Personal Property Managers at 215-485-9272 or 908-368-1909 or visit their website at www.personalpropertymanagers.com