Tag Archives: Buyers

It’s a Sellers’ Market: Advice for Buyers and Sellers

Friday, 07 August 2015 15:20
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verico_lozinski_mortgage_corp_21c47bc6_1e78_1bd7_e8ab_31049851a086Real estate season is in full-swing and the Atlanta market has proven itself to be hot for sellers once again.  However, while phrases such as “bidding war” and “multiple offers” may be welcomed by those looking to get rid of their property, similar words may incite a bit of unease in buyers looking to make a speedy purchase.

Still, while it would be easy to assume that, in this climate, sellers can easily field offers with minimal effort, it’s important to remember that both buyers and sellers need to work hard to make the most of the current market.

FOR SELLERS:

Be On Your Game.  Even in a sellers’ market, traditional real estate rules still apply.  In short, sellers must still put their best foot forward if they’d like to get the most for their home.  Houses that are shown in top condition are much more likely to sell—quickly—in a sellers’ market than those that have been haphazardly cleaned and organized.

With that being said, don’t get carried away by assuming that you can overprice your home simply because the market is currently favoring those looking to move.  At the end of the day, buyers will always flock to well-priced homes that show well.  If it’s not priced right or shows poorly, it won’t sell.

Don’t Drag Your Feet.  If you’ve been lucky enough to receive multiple offers on your property, it’s important to move forward with the most qualified buyer.  Waiting too long can cause a loss of momentum, so pay attention to the buyer who is not only working with a local agent and has their loan lined up, but the one who makes an aggressive offer and expresses serious interest in your home.

FOR BUYERS:

Strategize and Plan.  One of the most frustrating things about a sellers’ market is that, as a buyer, even if you’re serious about purchasing and have made a point to secure reputable financing, you may have trouble either finding the right home or getting your bid picked up.  Therefore, since there’s often little you can do in these types of situations, it’s important to make sure that you’ve crossed your t’s and dotted your i’s in advance.  You don’t want to suddenly find yourself in a great position to have your bid selected if you’re not prepared to move through the closing process.

Avoid Resting on Your Laurels.  Sellers’ markets are all about seeing what you want and moving on it.  Truly interested buyers won’t wait for the open house to decide whether they want to make an offer.  If a home enters the market on Monday, you need to be viewing it on Tuesday and if possible, making an offer within a few hours.  If you make the mistake of prudently waiting a week or two, you may find yourself sorely disappointed.

First Impressions Always Count.  Buyers who move quickly show sellers that they mean business.  Remember, no one wants to wait around, so make a point to make your contingencies and timeframes swift, and take as much risk as possible away from the seller.  Consider moving forward with an inspection prior to submitting your offer so that your bid won’t come with contingencies regarding inspections.

In regards to financing, it’s important to consider the state of our current economic climate.  Securing a loan takes longer than it did 10 years ago, so make sure you’re moving to acquire the necessary funds well in advance.  Plain and simple, if you need to ask the seller for an extra month in order to get your finances in order, you’ll have a difficult time competing with someone who can do it in a quarter of the time.

CONCLUSION:

In the end, regardless of the market, both buyers and sellers need to be prepared for the home sale process.  Sure, it may seem stressful; however, if you make a point to surround yourself with a knowledgeable and experienced team of real estate/lending professionals, you’ll be in a better position to get the most out of your investment.

If you’d like some advice or have a home you’d like to list or buy, please feel free to contact me.

Marie Dinsmore | The Dinsmore Team | www.DinsmoreTeam.com | 770-712-7789

Sell Your Home Faster with These No-Cost Tips

Friday, 12 June 2015 14:18
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10_Simple_Home_Staging_Tips_Every_Seller_Should_KnowPurchasing a new home can be both exciting and exhilarating.  Filled with promises of new beginnings and fresh starts, the process can actually be quite fun.  However, while you might be in a hurry to imagine your life in new surroundings, the downside of the equation is that you still have to close on your existing home.

If you’re looking to move sooner rather than later, waiting all summer to get an offer on your current residence might hurt your plans, so it’s important to do everything you can to reduce your home’s time on the market.  Therefore, according to a study conducted by the Real Estate Staging Association, homes that were staged before being listed received an offer within an average of 23 days, which is 87% faster than those that went months after listing before staging.

Still, finding the money to stage your home may be a bit of a stretch, so here are five FREE things you can do to get the job done.

FIND YOUR INNER NEAT FREAK – OR ENLIST THE HELP OF SOMEONE WHO CAN.  Whether you’re already extremely tidy or you have a friend who is a master of organization, it’s time to declutter your way to a speedy closing.

Sure, it’s one thing to simply shove everything into a closet but it’s another to turn your space into an open, pleasing oasis.  Start by tackling common junk areas such as magazine racks, fireplace mantels, kitchen and bathroom counters, and tabletops, and streamline those closets while you’re at it.  Buyers want lots of storage and BIG closets, so the less things clogging them up, the better.  Potential homeowners will want to see how much space is in there for THEIR stuff, not how much of your stuff can fit in the space.

SHOULD THAT COUCH REALLY GO THERE?  Once you’ve taken the time to purge your home of disorganization and clutter, make a point to stop and look at the big picture.  Your house should invite buyers to sit and stay a while, so if they can’t walk through your space without zigzagging through the room or bumping into furniture, it’s time to rearrange a few things.

Start by putting excessively bulky or unneeded items in storage and moving things away from the walls.  Sure, you might have kept Aunt Mildred’s favorite chair out of obligation and nostalgia, but if it’s only taking up space, consider removing it from the home for a bit.  Plain and simple, buyers want to walk in and see an open—yet cozy—space that invites family bonding, so the furniture should be placed in a way which begets this vision.

If, at the end of the day, you simply have no idea where to begin, you can always utilize the services of an experienced agent (free of charge with no obligation), who can walk through your home and help you rearrange things to produce the correct effect.

CLEAN, CLEAN, AND THEN CLEAN SOME MORE.  Taking the time to clean your home before a showing should be common sense, but while many people understand the importance of presenting a fresh house, most underestimate how clean it should actually be.

At the end of the day, selling your home involves a large amount of money, so buyers want to see more than your standard tidy-up.  Preparing your property for the real estate market involves all of those minute details and corners, such as ceiling fans, baseboards, window blinds, and tile grout.  Additionally, don’t forget to clean your windows both inside AND outside.  You’ll want to let in as much light as possible, so make sure they’re nothing short of squeaky-clean!

SET THE TABLE.  The top thing buyers want from a home is to picture themselves living in it, so you need to put an effort into making sure they can do that.  You can start by setting the kitchen and/or dining room table, since nothing represents family life quite like a beautifully staged dinner table.

To set the right mood, arrange your dinnerware like you’re preparing for a big holiday such as Thanksgiving or Christmas.  Bring out your good china and linens, but keep things slightly simple by setting 2-4 places and adding a decorative centerpiece.

LET THE OUTSIDE COME IN.  I’ve said it before, but it’s worth repeating.  Most of us appreciate the beauty of the outside world, especially when it’s in full bloom.  So, make a point to fill your home with favorite picks from your garden such as roses, zinnias, peonies, lilies, or fresh fruit and vegetables.  If you’re short on vases, utilize the services of that old antique pitcher or Mason jar stashed in your cabinet.

If you’d like to learn more tips and tricks or would simply like some advice on where to begin, I’d love to offer my services, free of charge.  Please contact me!

Marie Dinsmore | The Dinsmore Team | www.DinsmoreTeam.com | 770-712-7789

Buyers: Navigate a Multiple Offer Situation

Monday, 07 July 2014 21:39
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Desperate couple doing their accountsThere’s nothing like the feeling you get when, after touring what seems like—or might actually be—dozens of houses, you finally find the one.  The minute you enter, you can see your life playing out within its walls and try as you might, you cannot squelch the array of possible paint colors floating through your head.  It has to be yours.  You’re certain it will be…

…until you discover that nine other bidders are waiting in line.

How did that happen?  You’re angry and anxious, especially since you know that you’re attempting to buy in a seller’s market.  After the housing collapse of several years ago, it might seem strange to see buyers without the upper hand, but with less inventory currently on the market, it’s not unusual for sellers to receive upwards of 15-20 offers on a home.

Therefore, if you find yourself in this type of situation, whether you think you stand a chance or not, it’s always a good idea to write an offer anyway.  To help you along, here are a few tips to put you in the best possible position:

1.) DON’T UNDERESTIMATE EXPERIENCE—You wouldn’t go to court with an inexperienced, novice attorney, so why would you bet your financial livelihood on an inexperienced real estate agent?  When it comes to navigating a multiple offer situation, hiring the services of a seasoned Realtor—who is not only familiar with the process, but has a track record of successful closings—is one of the most important steps you can take.

2.) GET PREAPPROVAL—Generally speaking, each offer will undoubtedly be accompanied by a prequalification letter from a lender; however, you can appear to be the strongest buyer by entering negotiations with a loan preapproval letter.

3.) PUT YOUR BEST OFFER FORWARD—Instead of expecting negotiation, write your best offer and make it attractive.  In an effort to determine pricing, a solid Realtor will be able to give you a comparative market analysis, which is important since many sellers intentionally set low prices in an effort to generate multiple offers.  Just because you’re paying above their asking price, doesn’t necessarily mean you’re paying more than the market value.

4.) UNCOVER WHAT’S IMPORTANT—All sellers have certain wants that will help land you in their good graces.  Whether it’s a fast closing or a longer than normal escrow period, ask your Realtor to find out what those hot buttons are and work hard to make them a reality.

5.) DON’T GET HUNG UP ON CONTINGENCIES—While it’s essential to get a home inspection before you close on a property, there’s nothing wrong with tightening the time period a bit.  When it comes to contingencies, you have the power to speed things along, so if your loan is solid, don’t be afraid to waive the loan approval contingency.

In the end, multiple offer situations can be challenging, especially if you’ve found yourself on the losing end of a similar circumstance in the past.  To make yourself the best possible candidate, straighten your affairs and hire a practiced Realtor who can walk you through the steps.

To learn more or to see how I can help you, please feel free to contact me.  I’d love to hear from you.

Marie Dinsmore | The Dinsmore Team | www.dinsmoreteam.com | 770-712-7789