Category Archives: Current Market Conditions

Fetching Top Dollar for Your Home

Tuesday, 12 April 2022 08:33
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Perhaps you have bought and sold a home before, regardless with this crazy market you want to do the things that will help you get top dollar.  This list adds some elements that you may not have considered.

  • Make Your Mailbox look Amazing – First Impressions are key, and your mailbox is definitely part of that first impression. Curb appeal always needs to be a consideration.  In addition to the mailbox, is the driveway cracked?  Does it need pressure washed? Is the yard well kept?
  • Make the right use of your rooms. Maybe you use your dining room as your kid’s playroom or an office.  You might want to stage it before having potential buyers visit.  Buyers want to see the room the traditional way.
  • Update your bathrooms. Reglaze especially if you have an outdated color like green or pink.  Reglazing a bathroom to white can make is look 20 to 30 years younger.  Bathrooms and kitchens sell houses so the smallest of improvements can make a world of difference.
  • What is your neighborhood like? Include in the listing description.  What is nearby? i.e. coffee shops, shopping, walking trails, etc.  What’s the culture like?  More than just what school district the house is located.
  • What extras are included? e., motion-sensitive outdoor lighting, smart home technology, security system, camera doorbell, etc. These little things make seem trivial to you but may sway a buyer.
  • In addition to great photos, do a video tour pointing out all the unique selling points.
  • Get a home pre-inspection – Your buyer will have an idea of the property’s condition before making an offer.

We are here to help you every step of the way whether buying or selling.

In appreciation,

Marie Dinsmore

Experience, Passion, and Commitment to Excellence!

Tips for Selling Your Home in 2022

Monday, 17 January 2022 07:07
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Thinking about putting your house on the market?  There are a few things that should be at the top of your to-do list before you even consider contacting the realtor and listing your property. You might think your home is perfect, but that’s because you live in it. You need to take an outsider’s perspective. Let’s have a look at some top tips to sell your home.

Four things that many people need to consider before putting their house on the market are to declutter, deep clean, make vital repairs and consider the exterior. If you follow these simple steps before selling your property, you’re likely to sell your home much quicker. So, let’s get started.

Declutter

Decluttering is a very important task you must do or should we say endure to sell your home. The reason behind decluttering is to get rid of all your stuff that is laying around and find a home for it. This is done for two reasons.

First, when prospective buyers come and take a look around your home they don’t want to see your belongings cluttering up the place. They need to be able to envision their own items filling the spaces. Second, if you spend some time decluttering then you are opening up the rooms and making them seem more spacious. Bigger homes command bigger places. Decluttering increases the size of your home in the minds of potential buyers. It’s like magic.

One major tip for decluttering is to go through each room and sort your belongings into three different piles. First, you should look at the items you want to keep. Second, stuff you want to throw away. Finally, a third pile should consist of the items you want to sell. Holding a yard or garage sale is a great way to make a little extra cash on the stuff you no longer want.

Although this task can appear a daunting one, there are a few ways to make it easier. Don’t try and do everything at once, start with 5 minutes stints throughout the day. Give items away, choose one to two and give them away daily. Donate things you don’t use or wear. Envision your home as a potential buyer, or ask a friend to. This will help you get rid of those items you’re unsure of letting go. Make, and refer to a decluttering checklist. Again, when you find it difficult to let go, this list will remind you of why you’re doing this.

Deep Clean

After you have spent time decluttering you must deep clean your home from top to bottom. This is to ensure that there is no dust or debris leftover from the time you have spent there. If you have pets it is a great way of getting rid of pet fur and dander that has gathered in hard-to-clean or reach places.

Notorious places that gather excess dust seem to be the extractor fans and oven hoods. You should make sure these aren’t missed when you thoroughly clean your property.

Worried that you won’t do a good enough job? Or perhaps you simply don’t have the time. Why not call in the professionals? There are cleaning companies out there who are used to doing major house cleaning. They will ensure your home is sparkling and looks brand new. Especially important for when the photographer comes to take pictures of your home.

Make Repairs

Decluttered and cleaned your property? Next, you should make sure you mend any repairs that need doing. You may have been putting these off for some time, but they need to be done. This is one of the top tips to sell your home that many forget. You can claim on your home warranty if you have any general wear and tear problems within the home. You may notice your roof has been leaking, this is covered under your home warranty.

Repairs do need to be done, even if it seems easier to leave them to the next owner. When you sell your home, the buyers will send in a home inspector to report on the house. If they find any damage this will be in the report and some buyers could pull out of the sale. Buyers don’t generally want to carry out repairs on a property they move into.

If the leaky roof has caused damage to the walls then you will need to fix these. Give them a fresh coat of paint to repair the damage to make them look brand new. This is a sure-fire winner.

Consider the Exterior

One final thing to mention before you list your home on the market is to make sure your exterior matches the interior. The outside of your property is the first thing buyers will see when they drive up to view. It is important this looks appealing and welcoming. Make sure the grass has been mowed and any weeds are gone. You could add some flowers to bring a bit more color to the property.

Make sure windows and doors are not looking worn and tired. If they are you could paint them to bring them back to life. Another thing to mention is once you have revived the doors be sure to give the door handles a lick of shine.

One way to check what the house looks like from the outside is to take a view as if you were the buyer or get a family member to do it. They will give you an honest opinion on how your home looks and how you could improve it to make it seem more welcoming.

We hope these top tips to sell your home help you understand what you need to do before you get your house listed on the market. Fingers crossed you get a speedy sale at a great price. And if you’re moving on to somewhere new. Good luck with that too.

We are always here to help.  Give us a call.

Marie Dinsmore

The Dinsmore Team

Experience, Passion and Commitment to Excellence!

What does Back to School mean to the Real Estate Market?

Monday, 02 August 2021 14:12
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It’s that time of year when kids fill their backpacks and wave goodbye to Mom and Dad as they board the school bus or are dropped off in the carpool lane. Summer vacation for the most part is over.  The last thing on most family’s minds is packing and moving.

Typically, when school starts, the housing market slows down, but with this tumultuous market, it is hard to predict.  Many are still looking for homes in this seller’s market.  If there is a lull, it will be short-lived.  After Labor Day there is usually an uptick as it is the unofficial start of the fall season. Sellers and buyers will now want to buy and close quickly to get settled before the holiday season.

It is still a good time to sell as there is still a shortage of inventory.  If you have a plan in mind as to where you’re going to live once your home sells.  Many sellers have gotten creative.

Here are some possible solutions:

  • Do you have rental property? Many sellers are moving into one of their rentals until they can find their next home
  • Do you have vacation property? Same scenario.
  • Move in with relatives.
  • Find a short-term rental – Those who do have rental property who are willing to take a month-to-month lease situation are offering this alternative until the sellers can find their next home.
  • I’ve even seen some move into their RV or houseboat until they find their next home. You might have to store your household belongings for a while, but if you do, consider using a pod, that way you don’t have to have a moving company move you twice.
  • Buy before you sell. Some have taken their equity out of their current home and used it as a down payment on the new home.
  • New Construction. When the new home is move-in ready, then you list yours.

In this area, the market is extremely hot, because of the great schools, which is great.  The good news is homes bring a premium price tag.  The bad news is, it makes buying a home in the school district you want a little challenging, but not impossible.  Another reason you need a seasoned agent.

If you’re thinking about selling or buying, give me a call and let’s devise a plan that will work for you and your family.

Marie Dinsmore

The Dinsmore Team

Experience, Passion, and Commitment to Excellence!

Fees to be Aware of When Purchasing a Home

Tuesday, 04 May 2021 13:47
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Purchasing a home is arguably one of the biggest financial decisions you will make in your lifetime. As you start your hunt, don’t forget there will be other costs associated with your purchase than the price of the home. This is valuable information, especially for first-time homebuyers. These are all good reasons to hire an experienced Real Estate Agent to help navigate you through the process, plus the fact of multiple offers and homes now selling above listing price.

Here are 5 fees to keep in mind as you begin to budget.

  1. Home inspection. This is a crucial step in the home buying process. The findings that come from the inspection can help you negotiate price and repairs. Generally, you can expect to pay between $300 to $500 depending on the home and the location.
  2. Title services. Title services encompass the transfer of the title from the seller and a thorough search of the property’s records to ensure to no one will pop up with a claim to the property. Additionally, you may need to buy title insurance which will protect the lender or your investment in the home.
  3. Appraisal fee. Before getting a loan, you will likely be required to get an appraisal of the home to determine its estimated value. This will be conducted by a third-party company and the cost can land anywhere between $300 and $1,000, depending on the size of the home.
  4. HOA fees. Many communities have a homeowners’ association that enforces monthly fees. This money is used for general maintenance and updates to areas like pools, parks, and more. Typical HOA fees are around $200 per month.
  5. Taxes. The taxes each buyer pays at the closing table differ, but it is not uncommon for it to be up to two months’ worth of county and city property taxes. Additionally, there may be taxes for the transfer of the home title.

I would be happy to talk with you as you prepare to buy or sell and devise a plan to help you transition as smoothly as possible.

Sincerely,

Marie Dinsmore

The Dinsmore Team

Experience, Passion, and Commitment to Excellence

What Is A Seller’s Market?

Monday, 08 March 2021 09:05
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A seller’s market happens when demand exceeds supply. When there are more buyers, but real estate inventory is low. Since there are fewer homes available, sellers are at an advantage. We have definitely been in a Seller’s Market for many months now.

In a seller’s market, homes sell faster, and buyers compete in order to score a property. These market conditions often make buyers willing to spend more on a home than they would otherwise. Therefore, sellers can raise their asking prices. Furthermore, the increased interest means that buyers rarely have the power to negotiate and are more willing to accept properties as-is.

Due to the shortage of housing, these conditions often lead to multiple offers. During these bidding wars, buyers will make competing offers and drive up the price, typically above what the seller initially asked for.

Tips For Buyers

 Whenever there is a low inventory of houses on the market and an abundance of buyers, timing is crucial.

Act fast: If you find your dream home during a seller’s market, you will have to act fast. If you hem and haw over a house you want to buy, you may find that it’s no longer available by the time you make an offer. You should get preapproved for a loan ahead of time, so your financing is in order when you need it.

Know that you’re at a disadvantage: When it comes to making an offer, keep in mind that you’re the one at a disadvantage. A seller’s market is not the time to try to push contingencies, concessions, specific closing dates or repairs. Focus your attention on what’s most important to you. If there are certain stipulations you want written into the contract, think hard about whether they are worth losing the property over. If you can make an all-cash offer, you should. Sellers prefer buyers who are willing to pay in cash because they don’t have to worry about the deal falling through due to issues with financing.

Be patient: If you find that you keep losing out on the homes you’re interested in, it’s crucial to be patient and not get discouraged. Many buyers end up suffering during a seller’s market because they get frustrated. Inexperienced buyers caught up in multiple offers will often offer more money than a home is actually worth – or they feel comfortable spending – in order to get the home they want. That’s always a mistake.

Don’t settle: On the flip side, some buyers will end up making offers on homes they otherwise wouldn’t be interested in because they’re tired of losing out. Remember, buying any property is a huge investment and often a 30-year commitment. Don’t settle on a home just because it’s cheaper. Unless you have to move immediately, it’s a much better idea to wait it out and resume your home search after the market cools down.

Tips For Sellers

Since sellers must compete to attract buyers in a seller’s market, it’s helpful to know how to increase interest in your property.

Clean and organize: To begin, make sure that your home is in good condition and has been cleaned and organized before you list, market, or show the property.

Price fairly: Even though homes tend to sell for more money in a seller’s market, it still helps to price your home fairly. If you set your asking price at or slightly below fair market value, you are likely to attract more interested buyers. Some sellers choose to list their homes for slightly less than the assessed value in order to encourage multiple offers.

Carefully consider offers: It’s even more important during a seller’s market that you carefully review the offers you receive. Sellers are often so focused on choosing the highest offer that they fail to examine the financial strength of each buyer. Just because buyers say they’ll pay a certain amount for your home doesn’t guarantee they’ll actually be able to obtain those funds. Lenders will not allow buyers to borrow more than the assessed value of your home.

The last thing you want is to accept an unrealistic offer and be forced to put your home back on the market when the deal falls through. The longer your home is on the market, the more questionable it will seem to buyers, and the more power they will have when negotiating. For ALL these reasons, is why you need an experienced real estate agent.

Ensure preapproval: For any buyers who require financing, you should ensure that they have been preapproved for a loan. Preapproval requires that buyers’ finances and credit history are verified, making it far more likely they’ll ultimately be able to obtain a loan for a specific amount of money. Prequalification, on the other hand, is just an estimate of buyers’ finances.

Be aware of contingencies: Also, be on the lookout for offers that include contingencies. Offers that include stipulations, like mortgage contingencies, home sale contingencies, appraisal contingencies, and inspection contingencies, enable buyers to back out of sales contracts if certain conditions aren’t met.

Is It A Buyer’s Market Or A Seller’s Market?

In the North Georgia area, it is definitely a Seller’s Market.  The inventory of homes for sale is at an all-time low which is preventing some potential sellers to list their property.  Here are some things to consider if you are one of those sellers:

  • Consider new construction. Often times you will have a more definitive timeframe and have somewhere to move.
  • Consider renting for a while. Yes, it may require two moves, but will also give you time to find just the right property.
  • Consider moving in with family. Not the most ideal situation, but some have the extra space and would agree for a limited time.
  • Go on an extended vacation. Have an RV or rent one? With work from anywhere situations, this might be the opportunity to travel until the market has more inventory.
  • If you have a beach/mountain rental, use it until you find your next forever home.

Bottom line is, if you can be flexible, you can take advantage of getting top dollar for your current home and still find your next home.  Give me a call and let’s work out a plan for you.

Best Regards,

Marie Dinsmore

Experience, Passion, and Commitment to Excellence