Almost Spring Time and my property hasn't sold..WHY?

 

 

If the listing for your home hasn’t been attracting buyers for a few weeks in a fast-paced real estate market, or for a few months in a slower one, you certainly have good reason to be worried.

A home doesn’t sell due to a variety of factors, some of which you can control and some of which you can’t.
Let’s start with the things you can control, which also happen to be the most important elements of any home’s appeal to buyers: price and condition.

Price Your Home Right, From the Start
As I tell my clients in the beginning, the correct price for your home is based on a thorough comparative market analysis (CMA). The reason it’s so important to price your home appropriately from the beginning is that a home that’s priced too high will languish on the market without any offers.
Even if you lower the price later, you will have lost the momentum of the initial listing period and buyers will assume there’s something wrong with the home. Eventually you may sell it, but more than likely the final sales price will be lower than your correct initial price would have been. Price your home too low and you have lost out on potential profit. Buyers today don’t care what you paid for your house when you bought it. They don’t care if you make a healthy profit when you sell. They only care about paying a fair price in today’s market.
Your price should be based on current local market conditions, not on what you need to pay off your mortgage, what your neighbor sold her place for a year ago, nor your guesstimate of what your home is worth. The comparative market analysis (CMA) will look at recent sales, homes that didn’t sell and were pulled off the market, and current listings to guide your price decision. If there aren’t any buyers making offers on your property, it might be time to lower your asking price.

Condition of Your Home- DeClutter and Curb Appeal
Regardless of your local market conditions, buyers have high expectations for your home, beginning with the exterior. While you don’t necessarily have to spend a lot of money, you do need to raise the level of your home’s curb appeal with some sweat equity. Pull weeds, trim the grass, plant a few flowers and perhaps paint your front door to make sure prospective buyers don’t decide to drive away.
Inside, your home needs to be consistently clean, neat, decluttered and depersonalized so that buyers can visualize themselves living there. Your Broker should be able to suggest ways to prepare your home for a sale, which, by the way, is nothing like the way you live in it. Your kitchen counters should be cleared, your bed always made and your dishes always put away in case a buyer wants to visit.

Marketing Your Home
When you choose a REALTOR® to list your home, make sure you ask about photos and a marketing plan. 98% of buyers look online first at properties so it’s crucial that your home has multiple professional-quality photos that make it look as enticing as possible, and that your home appears on multiple websites so buyers can see it. A listing without a photo or with one badly lit photo isn’t likely to generate many offers.


Make Your Home Available
One of the more challenging aspects of listing your home for sale is that you must make it available to buyers as easily as possible. Buyers prefer to see a home without the owner there, so make sure there’s a lockbox at your property and that you allow nearly unlimited access to prospective buyers.





Overcome Challenges
Sometimes market conditions or a specific flaw in your home make it tougher to sell as quickly as you would like. I can help you evaluate the market and let you know if you need to offer particular incentives, such as closing-cost help. If your home has an awkward floorplan or is located on a busy street, allow me the opportunity to come up with ways to emphasize its positive aspects and deemphasize any negative aspects, such as by staging the backyard or highlighting the renovated kitchen.
#chicagoluxuryrealty.com #stpeteluxuryrealty.com


--

  
Ron Goldstein,MBA
Certified Luxury Broker@Berkshire Hathaway Chicago & St. Petersburg

chicagoluxuryrealty.com  stpeteluxuryrealty.com 
(o)312-264-5846 (c)312-771-7190 (f)312-264-5746
Offices in Chicago and St. Petersburg


2014 BHHS President's Circle - Top 4% in Nation

Overcome the Emotional Hurdles of Selling Your Home

If you never thought you were sentimental about your home, try putting it up for sale. Suddenly every nook and cranny is the spot of some special event or sweet memory.

Then your practical side will kick in, and you’ll begin to see your home with a buyer’s eyes. You’ll have to face the fact that your home’s quirky imperfections may not seem so charming to potential buyers.
This battle between the practical and the sentimental is bound to stir up emotions for everyone in the family. But wearing your emotions on your sleeve when you’re trying to sell your home can lead to delays or even derail your home sale.

Overly Attached And Overpriced

All sellers have a tendency to overprice their homes. But those who are overly attached are even more likely to make this mistake. They believe the “right” family will fall in love with their home as it is and will be willing to pay more for it.
Home buyers rarely think that way. But they could be willing to pay more for a certain location or features that add value to the home. So go beyond simple repairs and cleaning when you prepare your home to go on the market. Stage your home to create an impression of the type of lifestyle buyers could have if they buy your home.

Prepare for Negativity Overload

The more showings you have, the more likely you are to get some criticism about your home. Then, when a buyer makes an offer, it may be lower than you expected. On top of that, contract negotiations are likely to point out even more flaws in your home.

Taking offense to this negativity could cause you to reject a low offer as “not serious.” So you hold out for a better offer, and you wait. And wait some more.
The longer you wait, the less likely you will be to get your asking price. Why waste time? Even a low offer is an opportunity to get your home sold, so don’t take it personally. With some skillful negotiating, you can turn a disappointing offer into a deal where both sides win.

Save Yourself From Stress

It’s easy to see how these emotional cycles create stress for home sellers. An experienced real estate agent can help you avoid the mistakes most do-it-yourself home sellers make. Start off right and consult an agent to help you price your home. The price you and your agent set will reflect your home’s real value—not an emotionally charged figure.
Your agent will also help you attract buyers with advice about updating and staging your home so its best features are highlighted. And, when it’s time to negotiate the sales contract, keep your sanity by letting your agent handle the details.



--

  
Ron Goldstein,MBA
Certified Luxury Broker@Berkshire Hathaway Chicago & St. Petersburg
Principal, Silver Professionals
chicagoluxuryrealty.com  stpeteluxuryrealty.com  silverprofessionals.com
(o)312-264-5846 (c)312-771-7190 (f)312-264-5746
Offices in Chicago and St. Petersburg
Connecting people w/ jobs & homes!

2014 BHHS President's Circle
http://www.daveramsey.com/blog

Carpe Diem- Thought leadership & March Real Estate Newsletter from your trusted advisor

March 2015

Whether you are looking to buy or sell, I can offer the highest levels in real estate expertise and professionalism. Don’t hesitate to contact me and allow me to help guide you through that process! Ron Goldstein   |   Luxury Broker Associate RGoldstein@koenigrubloff.com   |   3127717190 http://www.chicagoluxuryrealty.com

StPeteLuxuryRealty.com and ChicagoLuxuryRealty.com LUXURY REDEFINED! Lower the Latitude...Better the Attitude! Picture yourself collecting shells on Trip Advisor's BEST Beaches then coming to your affordable lifestyle or 2nd home in Tropical St. Pete to Sarasota. Colleagues: Happy to pay referrals! http://stpeteluxuryrealty.blogspot.com/2015/02/lower-latitudebetter-attitude-picture.html   COSTS FOR FIRST TIME HOME BUYERS Buying a new home can be a huge, complex undertaking, especially when it’s your first time. That’s why it’s important to have an experienced real estate agent guiding you along the way. The biggest mistake new buyers can make is underestimating the costs of buying a house and maintaining it over time. Many experts agree that homeowners should have 1%-3% of their homes’ purchase price in savings for improvements and surprise expenses. It’s wise to have at least six mortgage payments in the bank after a closing. These estimates may not work for everyone, but if you are spending above your means on a new home, you may quickly find yourself in financial trouble. Inspections are important for the first-time buyer, as they list repairs that will be needed for the home. A buyer should put together a short-term and long-term plan based on the inspection so they know how much money they will need in the months and years ahead. Renters are accustomed to paying basic utilities. Homeowners, on the other hand, must also pay for water, sewer and trash collection—as well as property taxes, homeowner’s insurance, homeowner’s association dues, yard care, snow removal and other expenses unique to your location. Buying a home is one of the largest investments you’ll make. Your real estate agent will help each step of the way, first helping you establish a realistic price point for your home purchase and a clear understanding of your monthly expenses. SHOWING YOUR HOME Don’t forget about the men when showcasing your home. When selling your home, it’s important to remember that your interior and exterior need to visually attract both male and female buyers. Read on to learn how to make your home universally appealing. Professional home stagers: They consult with homeowners to sell their homes quickly and for the most money possible. They consider demographics, buying psychology, design elements and lighting. Personal space: Men tend to gravitate towards rooms with gadgets and electronics. They appreciate open spaces and high ceilings—clean, streamlined rooms that men can easily walk through without obstructions. Cater to interests: Men don’t generally prefer fancy or frilly. They want to watch the big game with buddies or relax after work. Simplified color scheme: Don’t overwhelm any potential buyers with wild colors or furniture, even if you feel it makes your home “special.” Warm interior tones are generally preferred over cool tones. Garage envy: Think about painted walls, clean floors and enough storage for various hobbies. A built-in workbench, organized shelving as well as clean, spacious areas for tools, equipment and maintenance supplies are a great draw. The yard: A well-maintained lawn can really help boost your home’s appeal along with thick, healthy grass, minimal bushes to trim and easy-to-maintain flower beds. Staging your home to visually appeal to men as well as women will ensure a better joint response from potential buyers. HOMEBUYING What a Buyer Should Expect During the Closing. The last step in the home buying process is commonly referred to as the closing. The close of escrow is when all steps—from acceptance, title search, inspection, mortgage approval, and so on— come together in a final transaction. Documents are ready to sign, the buyer is ready to hand over the purchase price and the seller is ready to transfer title. And most importantly, the keys! It usually takes about an hour and may be attended by some or all of the parties involved: buyer, seller, real estate sales professional, attorney and title company representative. The buyer reviews and signs the loan and real estate documents and pays for the property, closing and other costs. Assuming that the funds are in order, the deed is correct and the title is clear, the final step is the disbursement of funds to the seller. The title company should have the funds in its possession, but the buyer needs to bring a cashier’s or certified check for the down payment and the closing costs if it was not included in the mortgage loan. If the buyer’s annual real estate taxes and homeowner’s insurance will be paid through the lender, an escrow account will also be established. Once all the papers are signed and funds are disbursed, the buyer receives the keys and is now a homeowner. HOME IMPROVEMENT TIPS Five tips to beautify the bath. Updating a tired-looking bathroom is a great way to increase a home’s resale. The fixes don’t need to be costly or labor intensive: Beautify: Add decorative glass, stone tile or accents to make a bathroom stand out. Extra-wide wall tiles are popular and wood cabinets can be embellished with carved wooden inlays. Lighting: Add more lighting options around the room to reduce shadows and glare. Mood lighting around the tub area is also very popular. Bath/Shower: A new tub and a spa-like atmosphere can do wonders for a bathroom. Adding a massage element to the showerhead will appeal to buyers. Update Fixtures: Changing the fixtures in a bathroom can add a great deal. From cabinet handles to faucets, the addition of brushed nickel or other metals is always a huge hit. And if space permits, add a second sink. Think Green: Install fixtures that save water. A low-flow showerhead, low-flow faucet aerator and a dual-flush toilet can save thousands of gallons of water. Energy-efficient windows is another easy option. A renovated bathroom offers an intimate, contemporary feel and is one of the things people will remember about a home.

Berkshire Hathaway HomeServices KoenigRubloff Realty Group | 980 N. Michigan Ave., Ste. 900 Chicago, IL 60611

© 2015 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Information not verified or guaranteed. If your property is currently listed with a Broker, this is not intended as a solicitation. Equal Housing Opportunity.