9 DEADLY MISTAKES HOME SELLERS MAKE – #6
DEADLY MISTAKES HOME SELLERS MAKE – #6
Selling the most expensive asset that most families own is serious business, not something to be taken lightly. It can be a highly stressful process and costly mistakes are easy to make. In order to net the most from the sale it takes careful planning and some work on the seller’s part.
Based on our years of first-hand experience, we have compiled a list of the 9 Deadly Mistakes Home Sellers Make to help home sellers avoid them. As the old proverb says, “forewarned is forearmed.”
A copy of the list is available at no charge to anyone who requests one by
e-mail. Send you request to: Mike@BuyYourVilla.com 
DEADLY MISTAKE #6 –
Thinking you need to be in the home to explain things to a prospective buyer.
Many sellers are concerned that prospective buyers may miss some of the most important features that their home has to offer. Their tendency is to meet the prospective buyer at the front door and hover around them, pointing out every little feature: DON’T!
Let their Realtor, or YOUR Realtor handle that. Almost every buyer wants a little space when they are looking at homes. They feel much more comfortable if they can speak their mind to a real estate professional. They tend to close down, walk through the home quickly and get out as fast as they can when the sellers are present.
They may be impressed that you home has a built in ironing board or a Lazy Susan turntable under the corner kitchen cabinet and they may not care. Every individual has their own priorities. Buyers can usually tell within a few minutes if the feel of the home and its setting will work for them. The home’s features are secondary. If the overall feeling is right form them they will then be interested in the features.
If you have a showing scheduled make sure things are straightened out, turn on the lights, open the window coverings, put on some soft music and LEAVE.
If people come to your door asking to see the home, don’t let them in. Refer them to your Realtor for a showing. You do NOT want unscreened individuals in your home. They may come back when you are not home with a truck and clean you out! Just say, “for security reasons my Realtor requires that all prospective buyers be accompanied by a licensed Realtor when viewing our home. His/her name is —- and his/her phone number is 123-0987.”
It is better to be safe than sorry.
It makes no difference if you are in El Dorado Hills, Folsom, Cameron Park or any other city or town in California, or in any other state. The same rules apply.
If you have any questions or want to put your home on the market call a REALTOR today: (916) 337-0658. You will get a no-cost market evaluation and suggestions on how best to maximize your selling net!
9 DEADLY MISTAKES HOME SELLERS MAKE–#5
DEADLY MISTAKES HOME SELLERS MAKE – #5
Selling the most expensive asset that most families own is serious business, not something to be taken lightly. It can be a highly stressful process and costly mistakes are easy to make. In order to net the most from the sale it takes careful planning and some work on the seller’s part.
Based on our years of first-hand experience, we have compiled a list of the 9 Deadly Mistakes Home Sellers Make to help home sellers avoid them. As the old proverb says, “forewarned is forearmed.”
A copy of the list is available at no charge to anyone who requests one by
e-mail. Send you request to: Mike@BuyYourVilla.com
DEADLY MISTAKE #5 –
Forgetting what you would want to see if your were the buyer of your home
Although we all strive to attain our own individuality, there is a remarkable similarity in what we expect when those expectations are met at someone else’s expense. Every prospective buyer wants to buy the perfect home. Few will settle for much less than their perception of that perfect property. The smallest imperfections can turn a buyer off.
With that in mind, a seller must be diligent in maintaining their property when they have is on the market. Keeping everything neat and CLEAN is essential.
Outside
- Keep walkways and patios and courtyards orderly and swept
- Put toys, bikes and gardening tools away
- Park extra vehicles away from the property
- Ensure that plants and shrubs are kept trimmed and well watered
- Apply fresh, clean paint
- Keep windows and coverings clean
- Inspect roof and gutters and keep them clean and functioning properly
- Mow lawns frequently
- Water and maintain vegetation
- Repair any damaged areas
- Keep all pet areas clean
Inside
- Reduce the number of personal items, place non-essential items in storage
- Keep everything CLEAN
- Ensure everything is in good repair (paint, sealant, etc.)
- Kitchens and bathrooms should SHINE
- Put all dishes, glasses and cooking utensils away
- Vacuum carpets and floors daily
- Hang up all clothes or place in laundry hamper
- Make all beds daily
- Straighten all closets
- Put all toys away
Before a Showing
- Open window coverings, let in as much light as possible
- Turn on all lights
- Remove pets from home
- Secure jewelry, valuables and prescription medicine
- Play soft background music
- Make sure that the television is off
- Remove the family from the home and stay away until you are sure the buyer and their agent have left
Once you have done everything you can to make the very best impression, relax and wait for the offers to come in.
It makes no difference if you are in El Dorado Hills, Folsom, Cameron Park or any other city or town in California, or in any other state. The same rules apply.
If you have any questions or want to put your home on the market call a REALTOR today: (916) 337-0658. You will get a no-cost market evaluation and suggestions on how best to maximize your selling net!
BANK OWNED (REO) HOME SALES FOR EL DORADO HILLS, CA AUG. 2010
El Dorado Hills, CA REO (BANK OWNED) SALES DATA FOR August 2010
This is a continuation of our three year monthly report on Bank Owned (REO) home sales data for El Dorado Hills, CA. This report covers Bank Owned homes sold in August 2010.
There were 13 Bank Owned homes sold in August, one more than sold the previous month. REO inventory in El Dorado Hills declined to a 1.8 month supply, down from the 2.1 month supply in the previous month. This is within the normal range for the past 14 months with the exception of a spike to a four month supply in March. The inventory of all homes available on the market also decreased slightly from a 5.5 month supply in July to a 5.3 month supply. Note that the overall inventory in August of 2009 was a 7.4 month supply. We have been in a seller’s market since October of 2009. Six months is considered a neutral market.
The average days-on-market decreased from 55 days last month to 34 days in August. Only one of the REO homes that sold this month had been on the market for over 100 days. Only 16% of the REO homes sold were on the market two weeks or less. This is a much smaller percentage than normal.
The 13 REO homes that sold represent 25% of all homes sold in El Dorado Hills in August.
The cost per square foot of REO homes in August was $ 149, up from $ 144 the previous month. The cost per square foot of all homes sold in August dropped one dollar from the previous month.
The difference between the cost per square foot of REO properties and the cost per square foot of all properties sold indicates that REO homes represented a 10% savings for REO buyers in August.
The overall sales price for REO homes was 89.1% of the final asking price, and 86.6% of the original asking price. And 31% of the buyers paid more than the asking price for REO homes in August.
The actual, measurable savings is the difference in cost per square foot between REO homes sold and the cost per square foot of all home sold: in July, $ 17 per square foot. That is a $ 42,500 savings on a 2500 square foot home, not a small sum.
The data follows:
BANK OWNED (REO) HOME SALES DATA FOR FOLSOM,CA AUG. 2010
Folsom, CA REO (BANK OWNED) SALES DATA FOR August 2010
This is a continuation of a three year study of Bank Owned home sales for Folsom, CA. This report covers REO homes sold in August 2010.
There were 12 REO homes sold in August, up from nine in July. A small number compared to a year or two ago. Lenders are releasing these homes for sale at a very slow pace in order to avoid causing major problems in the housing market.
The average days-on-market for the month was 59, up slightly from the 54 days reported for the previous month. Two of the homes sold had been on the market over 100 days and one had been on the market for 259 days. Despite these few “stale” listings, 42% of the homes that sold this month had been on the market for less than two weeks. The clean, presentable homes sell quickly and those with problems take a long time to sell.
The 12 homes sold represent 24% of all homes sold in Folsom.
The overall home inventory in Folsom dropped slightly from a 5.5 month supply last month to a 5.1 month supply in August. These two months reflect the highest supply in over a year. The total bank owned inventory reported for August was a 3.3 month supply, down from the 4.7 month supply reported for the previous month. Although the supply trend for REOs is increasing over the past year the July number was double the average for the past year.
The cost per square foot of REO homes sold in August dropped significantly to $ 150 per square foot, down from $ 170 in July and $ 165 in June. It has been running in a narrow range of $ 176 to $ 150 over the past fourteen months, so August was a new low. The cost per square foot of all homes sold in August was $ 173, down one dollar from July. REOs were a much better buy in August.
The difference between the cost per square foot of REO properties and the cost per square foot of all properties sold indicates that REO sales represented a 13% savings for REO buyers. This is the largest margin in some time.
The overall sales price for REO homes was 97.9% of the final asking price, and 50% of the buyers paid more than the asking price for their bank owned home in August. There was a $ 23 dollar per square foot savings in the purchase of REO homes, compared to the cost of all homes sold. When we apply that price difference to a 2500 square foot home it represents a
$ 57,500 savings, something worth considering when selecting a home: not a small sum.
If you have any questions about purchasing a Folsom REO, an REO anywhere in the area or are just looking for the best buys available feel free to call us at (916) 337-0658.
The data follows:
