It can be challenging to determine when the best time to sell your home is. But if you’re on the fence about when (or if!) to sell your home, you could end up pushing off your home sale because you can’t make a decision—and missing out on the best time to sell.
So, the question is—what are some signs to be on the lookout for that will help you determine when you should sell?
It’s a seller’s market. When you sell your home, you want to sell it as quickly and profitably as possible—and generally, that means making a move when the market is favoring sellers. If the price per square foot in your area is increasing—and the amount of time homes are sitting on the market is decreasing—it’s an advantageous time to sell your home.
You’re struggling financially. If your home is costing more than you expected—or more than you can afford—selling could help alleviate your financial stress and put you in a better financial position.
You’ve outgrown your home. Sometimes, the home you buy during one chapter of your life just doesn’t make sense for the next chapter. If you feel like you’ve outgrown your home and are struggling to find the space you need to live comfortably, it could be a good time to sell.
So, what does this mean for you? If you’ve been on the fence about selling, knowing some of the key signs that it’s time to make a move can help you make a decision—and list your home at the right time for you.
Selling Your Farmington Hills MI Home? Pricing it Right is Key
Pricing your home correctly can be the single most important factor when you’re selling your Farmington Hills MI Home. In today’s market, high buyer demand and fewer homes make it an optimal time to sell for those who are ready to do so. Many homes on the market are selling above the asking price at a record rate. According to a recent Realtors Confidence Index Survey from the National Association of Realtors (NAR):
Homes typically sell within 17 days (compared to 26 days one year ago).
The average home sold has 5 offers to pick from
54% of offers are over the asking price
You can add about 10 percent to a comparable sale in a sellers’ market since inventory is limited and buyers are competing for fewer homes, according to Zillow. It’s also common for homes to sell for more than 100% of the list price in a seller’s market.
Setting the right asking price
In a hot sellers’ market, it may be tempting to price your Farmington Hills MI home on the high side to capitalize on this trend, but a higher asking price doesn’t mean you’re going to cash in big on the sale. Setting a higher price is likely to deter potential buyers, cause your home to sit on the market longer (never a good thing), and require a price drop that may cause prospective buyers to question why.
Instead, focus on setting the right price from the start by pricing your house based on its current condition and similar homes that have recently sold in your neighborhood or area. Review expired listings from your area to gain insights on pricing your home to sell. Compare original list prices of recently sold homes with their final sale prices. Did it take many price cuts to get a sale? Perhaps it was overpriced, to begin with?
By setting the right asking price, you will increase your home’s visibility, which in turn drives more buyers to your front door. The more buyers that are interested in your home, the more likely you’ll have a multi-offer scenario. When multiple buyers compete for your house, that sets you up for a bidding war and a bigger return.
Don’t let your asking price lump you in with the competition
Price banding is the practice of looking over current inventory in your neighborhood and finding a less crowded price point. Prices tend to get bunched up as sellers try to price their homes competitively. For example, if there are 3 homes in your neighborhood that are priced between $284,000 and $286,000, and the next set of homes start at $290,000 and up, you should take advantage of the wide-open $280,000 price band. Once you know your home’s value and have a price range in mind, it’s time to nail down the final “list” price.
Price for common online search ranges
Consider the price range your home will fall into on popular online real estate websites. Most buyers have a price range they are considering or can afford. A buyer looking at homes in the $380,000 to $400,000 range will likely not see your home if it’s listed at $405,000. But, if you choose a home listing price of $399,999, it’ll show up in their search results, and they just might end up being your buyer. While this scenario happens frequently, many savvy agents will set up search parameters for their buyers to include properties listed a little bit more above their price ceiling.
Knowing how flexible home prices can be, buyers should be made aware of properties that could be a good match for them, even if those homes are above (but within a reasonable range of) what they want to pay. An experienced Farmington Hills MI REALTOR® can help you set a price that’s realistic and obtainable.
They can provide you with a CMA, which is a compilation of recent sales from your area. It takes into consideration home details, days on the market, and final sale price. Real estate agents are used to providing comps to potential clients, and may not even need to step foot in your home.
Handling a bidding war
Bidding wars most often happen when the housing market has limited inventory and when there is more than one potential buyer making an offer on a home. These buyers end up competing to become the new owner of the property by increasing the price of their offer, often pushing the price higher than the original property value.
A badly managed bidding war can end in disappointment for the seller if the potential buyers feel misled or used. No one wants their offer to be shopped around. Keep in mind that even if one party is offering you more money than another, it might not be the best offer. Money is money, but a cash offer is generally stronger than an offer that comes with financing.
An offer that includes a mortgage will take longer to close than a cash deal, and if the buyers’ financial profile is at all questionable, there’s a chance they might not secure their financing. It’s possible that the second-highest bidder might have a more straightforward and simple financial profile, and thus be more of a slam dunk to make it to the closing table.
Leave the door open with your backups. In a competitive bidding situation, buyers can become overly enthusiastic, get caught up in the moment, and bid above their comfort level. They may even walk away due to buyer’s remorse or a reassessment of value while the contract is being drawn up.
Find the right list price for your home by working with a Farmington Hills MI REALTOR® who’s an expert in your area. By using their comparative market analysis, you can price your home to sell fast and for more money. In a sellers’ market, where bidding wars are common, properly handling the process is paramount and an experienced real estate agent should be able to guide you.
Partner with REMAX Farmington Hills REALTOR® -Tom Gilliam
Whether you are interested in buying a home in the area or selling your Farmington Hills MI home, take advantage of Tom’s 17-plus years of experience as a top-rated RE/MAX Farmington Hills MI REALTOR®. For buyers, Tom will help you find the perfect home for your lifestyle needs in the right neighborhood. For sellers, Tom will get your home sold fast for the best price.
Tom will look out for your best interests, advocate for you, negotiate on your behalf, and do whatever it takes to ensure a smooth and successful transaction. Get the process started today by calling Tom directly at(248) 790-5594 or get in touch by email.
Tom Gilliam, REALTOR® RE/MAX Classic 29630 Orchard Lake Rd. Farmington Hills 48334 Direct: 248-790-5594 Office: 248-737-6800 Email: Homes2MoveYou.com License #314578
How to Increase the Resale Value of Your Oakland County MI Home
As the housing market continues to rebound, amid the pandemic, would-be sellers should think twice before skipping on updating areas of their home in need of serious upgrades. With housing inventory low and demand steadily increasing, Oakland County MI homebuyers are still willing to spend big on homes with quality finishes in sought-after neighborhoods. Whether you are thinking about putting your Oakland County MI home on the market this year or in the next couple of years, it’s a good idea to start building your home’s resale value now.
Small maintenance and repairs
If you think that home maintenance on the weekend is a waste of your time and energy – well, it’s not. The small chores that you do around your home today actually prevent it from losing value. A little TLC maintenance goes a long way toward warding off expensive repairs. Most appraisers claim that homes showing little to no preventative maintenance can depreciate from $15,000 to $20,000.
A study conducted by researchers at the University of Connecticut and Syracuse University reveals that regular maintenance can boost your home’s value by about 1% per year. However, ongoing maintenance costs offset that value, which means that regular maintenance actually slows down your rate of depreciation.
Most homebuyers generally notice any repairs needed upon buying a home. Proactive maintenance lets potential buyers know they won’t need to spend extra cash to maintain the basics – making your Oakland County MI real estate more attractive and more likely to get higher-priced offers. Although maintaining the basics can cost you a little money and certainly some effort, there is a way to accomplish this very important activity intelligently.
Many Professional home appraisers and REALTORSⓇ recommend a proactive maintenance schedule that includes keeping enough cash on hand to replace systems and materials; creating and following a maintenance schedule; planning a room redo every year; and keeping a notebook of all your maintenance and repairs.
Landscaping can add tens of thousands of dollars to the value of your Oakland County MI property. In fact, it is one of the few home improvements you can make that not only adds value immediately but also increases in value as the years go by as plants grow fuller and more robust as the years go by.
A well-landscaped home has a significant price advantage over a home with no landscaping. This advantage ranges from 5.5 percent to 12.7 percent depending on the type of landscaping and the home’s original value. That translates into an extra $16,500 to $38,100 in value on a $300,000 home.
Having a long-term landscaping plan is great if you’re in the house for the long term. However, If you are planning to sell within a year, you can take several immediate steps to dress up your landscape and boost your selling price. For example, cutting fresh edges around your planting beds; having a sharp, well-defined edge between grass and mulch or dirt gives the landscape a professional look.
Replacing Your front (entry) door
So how much value does a new front door add? According to Remodeling magazine, replacing your entry door has an average ROI of 74.9% With that ROI, you could potentially add three-quarters of the front door cost back into your home’s value. You could even add more value to your home, depending on the type of door you get and other adjustments you make to your home’s curb appeal.
With that ROI, you could potentially add three-quarters of the front door cost back into your home’s value. A new door adds value in several ways: It attracts potential buyers, replaces an old worn-out door, prevents drafts, and welcomes visitors to your home.
Popular front door color options include:
Black gives your home anything from a sleek and modern look to a more traditional touch. It can also provide the best resale value for your home because it is such a versatile color.
White is another versatile shade that goes with classic or contemporary facades. It doesn’t draw as much attention, though, but it would be a safe option.
Navy blue can be sleek or traditional, depending on the rest of your home. If a black door wouldn’t complement your home’s exterior, consider navy blue instead.
Yellow is a cheerful color that’s sure to attract attention. It’s more of a gamble to go with this color since not every potential buyer will like it.
Red is eye-catching. A red front door adds a traditional look to your home, and you can tone it down with a burgundy color if true red seems too bright.
Also consider leaving your front door its natural wood tone, which can give your home a warm and inviting appeal that complements other features of the exterior.
Replacing your garage door
Initially, you might not think that your garage door increases the value of your home. However, as the largest entryway of your home, the garage door gets noticed first because it’s the focal point of your house. Your garage door distinguishes your home from the other houses on your block. If you want to quickly increase the resale value of your home, you’ll want to make the most of this feature.
According to Remodeling Magazine’s 2020 Cost vs. Value Report, replacing your garage door has an average ROI of 97.5%, and ranked number two when compared to 21 other home improvements. The report’s data came from across 101 US markets and focused on the ROI at the time of sale. If you are planning on selling your home and have to decide between different renovations, consider a new garage door for the most added value.
Another 2018 industry study examined real estate agents’ estimates of perceived home value based on exterior appearance. Respondents were also asked if garage door appearance made a difference in the listing price they would assign to a house. The study indicated that a new garage door could result in up to a 4% increase in a home’s perceived selling price, which is an $8,000 bump on a $200,000 home.
A few interesting things being done with garage doors include:
Increased Size: Bigger garage doors help homes stand out more, and homeowners can do more creatively with them.
Bold Colors: Bright and bold colors now can complement the color of your home, or you can build a concept around the color of your home.
Faux Wood: You can install fiberglass or steel garage doors that look like wood garage doors. This gives your home a new level of sophistication.
Windows: Large Windows on your garage door improve the aesthetic of your home, and provide light into your garage so that it’s no longer a dark space
Installing fiberglass attic insulation
While energy efficiency is still not the sexiest selling point of your home, installing fiberglass attic insulation saves energy and provides a big payback on your investment. According to Remodeling Magazine’s Cost vs. Value top trends report, fiberglass attic insulation gained the top return on investment among the 30 projects in this year’s report.
The national average ROI in the U.S. for a fiberglass insulation upgrade is a whopping 116.9%, meaning this upgrade more than pays for itself. The average national cost of installing blown-in insulation in an attic is $1,268, and the average of a home’s retail value increase for this project is $1,482, according to Remodeling Magazine’s Cost vs. Value report.
Replacing your windows
Replacing your windows is another way to save energy and increase your home’s resale value. Window replacement is consistently listed as a top ten home improvement project that increases home resale value. If you spend $15,000 to replace your home’s windows, your home could rise in value by $11,000, which is an ROI of 74%. Replacement windows offer homeowners the chance to update the look of their homes.
You might consider investing in some custom window shapes to add architectural interest or amp up the natural light. The options and ability to customize with replacement windows are endless. Replacement windows will also increase your overall energy efficiency. From Low-E glass to UV and solar blockers, window technology is continuously evolving to make homes look good while saving on energy costs. According to HGTV, you will see a reduction in your utility bill from 7% to 15%.
Replacing the windows can help your Oakland County MI home stand out in the market and increase your home’s value before you list it. And since most buyers are looking for houses that are not only move-in ready but updated with modern amenities, new windows can help improve your home’s resale value and marketability.
Remodeling your kitchen
Since the kitchen is central to the home and commonly used by families, it’s one of the first things many house hunters look at. Whether you’re renovating your kitchen to help your home sell or to create the kitchen of your culinary dreams, there’s some planning and budgeting you’ll want to do first. Remodeling your entire kitchen can get expensive, but small renovations can make your home more buyer-friendly.
According to HomeAdvisor, the average cost of remodeling your kitchen ranges from $13,343 – $37,701. How do you know what a realistic budget is for your kitchen renovation? A good rule of thumb is to spend 5% – 15% of your home’s total value on your kitchen renovation. For example, if your house is valued at $200,000, a decent kitchen renovation budget would be 10% of that value, so about $20,000.
Bathroom addition or remodel
When thinking about selling, many homeowners consider areas in their home that might need a little pre-listing TLC, and bathrooms are commonly on the list. In fact, 26% percent of sellers make some sort of improvement to a bathroom before selling, according to the Zillow Group Consumer Housing Trends Report 2018.
Remodeling a bathroom before resale can help attract more buyers, but getting every dollar invested back at the time of resale is not guaranteed. Zillow data shows that bathroom remodels yield the biggest returns in terms of boosting your home’s resale value. For minor cosmetic changes, you’ll see a $1.71 increase in home value for every $1 you spend. This includes things like painting and refinishing cabinets, swapping out the mirror, or upgrading hardware. In most cases, a renovation will be cheaper than an addition.
The cost for adding a bathroom can vary widely based on a number of factors. The lowest cost is going to be around $3,000. This is a good estimate if you’re taking an area that you already have all marked out that has all the necessary components. If you need to add an entirely new space totally from scratch, the cost will be closer to $25,000.
It’s important to note that you’ll get diminishing returns in terms of value if you already have a house that is among the highest in value of any other on your street. The conventional wisdom on this is that you’ll add about a fifth to your house’s value, in general, if you add a full bath. If you add a half bathroom, then you’ll get about a tenth of the value added on.
No matter if potential buyers view your Oakland County MI property in-person or virtually, you’ll want to make sure it’s in top condition when it comes time to sell. If you want to get the most return on your investment, focus on features that most home buyers really want to see. Knowing design trends will give you the opportunity to make changes to your home based on where your needs and your potential buyer’s desires come together – greatly increasing your home’s value.
Consumer tastes can vary by region, so be sure to consult with your Oakland County real estate agent to find out which home features are in high demand in your area, advises Dr. Jessica Lautz, vice president of demographics and behavioral insights for the National Association of REALTORSⓇ. Your agent will be able to help you make the most informed choices when it comes to remodeling or renovating your home.
Partner With one of the Most Trusted REALTORS® in Oakland County MI – Tom Gilliam
Tom Gilliam is proud to be one of the top-rated REALTORS® in Oakland County MI, offering his guidance and expertise to home buyers and sellers for over 20 years. Tom understands that buying or selling a home is a significant financial and life decision and that you are looking for someone you can trust. As your agent, Tom will protect your interests, advocate for you, negotiate on your behalf, and will always go the extra mile to ensure the best results possible. Get the process started today by contacting Tom at (248) 790-5594 or you can get in touch by email.
Tom Gilliam, REALTOR® RE/MAX Classic 29630 Orchard Lake Rd. Farmington Hills 48334 Direct: 248-790-5594 Office: 248-737-6800 Email: Tom @ Homes2MoveYou.com License #314578
12 Tips for Getting Your Oakland County MI House Ready to Sell
If you are getting ready to sell your Oakland County MI home, then it’s time to roll up your sleeves and get to work. Selling a home involves a whole lot more than just planting a “For Sale” sign on your front lawn or uploading a few interior/exterior photos of your house. Real estate agents are experts when it comes to what makes homes sell. They can do a walkthrough of your home and point out changes you need to make to attract buyers and get the best offers.
REALTORS® can see flaws you are oblivious to because you see them every day or you simply don’t view them as flaws. They can also help you determine which feedback from potential buyers you should act on after you put your home on the market to improve its chances of selling. Anyone who’s determined to sell their own home should hire a professional cleaning service to give it a deep cleaning before putting it on the market. Sellers should also consider hiring a home stager to assess the current condition and market appeal of the home.
1). Find a qualified Oakland County MI real estate agent
You might be tempted to avoid a real estate agent, save the commission, and just sell your home on your own, also known as “for sale by owner” (FSBO). However, in most cases, the risks of going it alone outweigh the benefits. Risks include having fewer potential buyers, not knowing how to negotiate like a pro, not having enough free time to market your home, and not having the expertise to navigate all of the legal and regulatory requirements that come with selling a property.
Oakland County MI Real estate agents who have worked with many home sellers can identify the to-do’s that sellers typically overlook. There’s also the fact that professional real estate agents network know other REALTORS®. Often times an agent will post their listing on social media, and because of their network of real estate agents, it reaches the right audience who in turn shares that information with the buyers they are working with.
Do some research to find a REALTOR® in Oakland County MI with knowledge of the local market and make sure the agent you choose is a good fit. You want an agent you are going to feel comfortable working with and one you can trust to sell your home fast and for top dollar. When interviewing a listing agent, be sure to ask about their experience in your neighborhood, connections to potential buyers, and social media expertise.
The Realtor® you choose should be able to give you a comprehensive plan for how they are going to sell your home. Don’t be afraid to speak with a few agents before picking one to work with.
2). Research your local housing market
First and foremost, make sure to do your homework on the value of your home. Start by researching the local housing market through Realtor.com. Take a look at comparable sales in your neighborhood to figure out the appropriate listing price for your home. Pay attention to the various comps’ square footage, features, and location.
Finally, think about how they compare to your home. For example, your neighbor’s home may have sold for $1 million, but if your home is considerably smaller, you’ll most likely need to list your house for less. Of course, a reputable real estate agent should be able to assist with finding comps and determining the right listing price for your house.
3). Amp up your home’s curb appeal
Curb appeal is both an art and a science. And since it’s a buyer’s first impression of your home, it can be absolutely essential for getting your home sold. Curb appeal will improve how your home looks to buyers as they pull up and park or drive by. That includes your driveway to the potted plants on your porch to the welcome mat at your front door.
By investing in some relatively easy fixes such as replacing an old mailbox, planting colorful flowers, mowing the lawn, trimming the hedges, sprucing up lawn furniture with some new cushions, and repainting your front door, the outside of your house will encourage prospective buyers to take the next step and arrange for a tour inside.
There is also the stuff you don’t necessarily want prospective buyers to see such as garbage cans, recycling containers, compost bins, jumbled hoses, garden tools, bicycles, and toys strewn all over the lawn. You want to be sure the outside of your home is neat and tidy because it says ‘well-maintained’ to potential buyers.
If you’re not sure how to improve your home’s curb appeal, ask your Oakland County MI real estate agent for advice on how others in your area have improved the exterior of their homes before selling.
4). Depersonalize your home
Depersonalizing it is an important step when preparing your house for sale. Your home is likely filled with many personal items that are unique, special, and important to you and your family. However, to prepare your house to sell, you’ll want to remove your personality so that potential buyers can visualize themselves actually living in the space.
Make it as easy as possible for them by removing personal items and family photos, as well as bold artwork and furniture that might make the home less appealing to the general public. Dozens of antique plates, figurines, ball caps, or beer bottles lining shelves are distracting, especially in online photos. Get those things packed away. The added benefit of depersonalizing is that it’s a good start to decluttering. The goal is to create a blank canvas on which buyers can project their own visions of happily living in the space.
5). Declutter every area of your home
Before you can successfully show off your house to anyone (or even take listing photos) you need to ensure you have a home that people would want to live in. When getting your house ready to show, less is definitely more. And since potential buyers like to see everything, that means no area of your home (not even your utility closet) is off-limits from the gaze of a serious house hunter.
Clean off countertops, windowsills, tables, shelving, and all other visible areas. Next, you will want to tackle behind closed doors, closets, drawers, and cupboards. Take your excess stuff and donate it, or pack it up to be stored somewhere else. Not only will clearing the clutter help make your house look more appealing to potential buyers, but it will also help you once you’ve accepted an offer and it’s time to pack up and move to your new abode.
6). Give your home a deep clean
When selling your Oakland County MI home, it’s important to keep everything clean and tidy. You never know when a buyer might want to schedule a last-minute tour. First impressions mean everything, so don’t let dirty floors, dusty surfaces, and dingy carpet make a bad one on a potential buyer. Before listing your home, you want every square inch to shine, from the baseboards to the corners of your ceilings and everywhere in between.
This means wiping down surfaces, cleaning toilets, mopping floors, washing windows, dusting ceiling fans, lighting fixtures, and rafters, cleaning rugs, etc. Remember to take special care with the bathrooms, making sure the tile, counters, toilet, shower, and floors shine. Whether you do the cleaning yourself or hire a professional house cleaning service, you want your home is pristine clean at all times, especially for those last-minute showings.
7). Repaint the walls to neutral colors
You might love that purple accent wall in your foyer, but if a potential buyer isn’t into purple, it could be a turnoff. According to Home Advisor, the best paint colors for selling your home are neutral colors and earthy tones. This means warm beige, light gray, off-white verging on yellow and white.
Ask yourself these questions while selecting paint colors:
Does it feel warm and inviting?
Does it feel cold or boring?
Can you see the previous color underneath?
Fortunately, there are many neutral colors that make your home feel warm. For example, try greige, which is a warm shade of gray that’s closer to beige than it is to blue. Neutral colors are also versatile. You can place any color couch into a white living room wall and any color table and chairs to a beige kitchen interior. For your kitchen, choose light blue or gray paint.
Research shows that homes with this color kitchen sold for almost $2,000 more than homes with white-walled kitchens, according to Home Advisor. If you’re looking for a professional paint job, you might need to know the cost to hire a painter to see what works with your budget. The average cost to paint a house is between $960 and $2,750. Also, when you paint your home’s whole interior the same neutral tone, you save money because you can buy in bulk.
Keep in mind that during an open house, homebuyers can more easily imagine their decor in a neutral room than a chartreuse room they would have to repaint. You want to help buyers picture themselves in the house because if they don’t feel at home, they’ll probably look at other real estate options.
8). Make sure big-ticket items are in working condition
Unless you are selling your home in as-is condition or to a buyer who is planning to gut it, you will want to make sure any big-ticket items are in good working condition. Consider getting a home inspection done to help guide you where you should spend money or be able to factor that into the price and be aware of any big issues during negotiations.
If you take care of the improvements, you may be able to ask a higher price for the home, covering the cost of the upgrades with your list price and making it attractive to a broader group of buyers. Tackling problem areas now will also help you avoid post-inspection price reductions.
These are the most common big-ticket items, including some that buyers and their inspectors could flag as safety issues:
Replacing the roof
Updating the electrical panel
Installing a new water heater
Addressing termite, mold, or water damage
Repairing pipes, sewer connection, or septic system
Updating the HVAC system
9). Fix and repair everything and anything that needs it
Along with big-ticket items, make sure anything and everything that needs to be fixed (locks, hardware, cracks in the walls, scuff marks, missing light bulbs, loose handles, squeaky doors, etc.) has been taken care of before listing your home. Otherwise, It may make buyers think your home hasn’t been well taken care of and stop to think what else could be wrong with it.
Beyond any critical updates, think about the following easy things to do before selling your house. Many of these items can be tackled over a weekend before putting your house on the market.
Caulking in bathrooms and kitchens
Improving lighting by adding fixtures or replacing bulbs
Having the carpets professionally cleaned
Painting the baseboards
Selling almost any home can be tricky, but selling a home with lots of little problems and small repair needs can be downright difficult. With a home that is fixed up and move-in ready, you’re more likely to see more interest in your home and may even see multiple offers.
10). Give your home the sniff test
As you get your Oakland County MI home ready to sell, keep in mind that the visual appeal of your home is not the only thing to be considered. Foul odors, even slight ones, can be a deal-breaker, and the problem is that you might not even notice them.
Overwhelming odors can be off-putting to buyers at best, and leave a negative impression, at worst. You want to make sure that your house passes the sniff-test.
Here are the places in your home that typically need attention:
Closets. Odors tend to build up in closets because they stay closed.
Bathrooms. Besides the obvious odors, mildew on surfaces and towels can be either subtle or strong.
Bedrooms. Dirty clothes, bed linens, carpet, and musty drapes can cause odors.
Kitchens. Onions, garlic, and strong spices can linger in the air from last night’s dinner. Garbage disposals and kitchen trash cans can also add unpleasant odors to the mix.
Basements. Basements often not have the same airflow that the main floor rooms have, and musty odors can build up.
Pet smells. It is common to get used to pet smells and forget that buyers will immediately notice the lingering smell of pets.
Trash receptacles. Probably the worst odor culprit of them all.
To solve those unpleasant odors in your home, natural solutions like baking soda are the best, which absorbs the odors from the air. You can use absorbent air fresheners in closets to absorb stale odors in the air and place them inside gym shoes that can build up odors. Use a dehumidifier in the basement to keep that musty smell away and also open windows periodically to get fresh air circulating throughout the space.
If you’re going to use strong-smelling cleaners like bleach, make sure to clean the night before so the odors are not overpowering to potential buyers. Be sure to place pet beds and items outside or in a garage before a showing, and keep a neutralizing spray on hand to spray on furniture, carpets, or any place where your pet has been. Take the trash out before a showing. It’s a good idea to remove all trash receptacles.
We often get used to the odors in our living spaces so it helps to have a friend or family member that does not live with us (and who will be brutally honest) to give the home the sniff test.
11). Consider professional home staging
Consider getting your home staged by a professional home stager. Home staging is a method of decorating meant to highlight your house’s most impressive assets and help buyers imagine themselves living there. Home stagers will evaluate the current condition and belongings in your home and determine what elements to add or take out that might raise the bar.
According to a staging report by the National Association of Realtors, 49% of buyers’ agents believe that home staging has an effect on how a buyer views the home, with 77% saying that it makes it easier for buyers to visualize the property as their own. On the seller’s agent side, 21% said that home staging increases the value of a home between 6% and 10%, and 39% note that it greatly decreases the total amount of time a home is on the market.
With so much to gain, it makes sense for sellers to stage their home, and fortunately, many of the best staging tips don’t require spending a lot of money. Professional stages know the real estate market, and what sells, so it’s important to take their advice and not take offense when they make big changes. Their job is to help drum up interest from potential buyers, which is always good news to the seller.
12). Hire a professional photographer
In 2021, everyone is looking at images and videos online to make decisions. Professional real estate photography and real estate video tours can help sell your home faster. Given that many potential buyers search for homes online, it’s crucial to include high quality, professional photos in your online listing.
According to a recent study, professional real estate photography can earn you between $1,000 and $100,000 more on your final sales price. In addition, better quality photos can also increase the number of people clicking on your listing. This means that simply updating your listing with professional photos can potentially double the attention your home gets from potential buyers.
Professional photographers understand the essential elements that make up quality home images. Furnished rooms and spectacularly staged photos attract homebuyers by helping them envision their new life in your home. Few pictures are automatically perfect. Instead, they require careful post-production editing to enhance the final product.
Before putting your home on the market, hire a professional photographer to snap photos or create an impressive video tour of your clean and staged abode. Your Oakland County MI real estate agent should be able to help with finding a professional real estate photographer, so be sure to ask who they use when interviewing real estate agents to work with.
Partner with award-winning Oakland County MI REALTOR® – Tom Gilliam
Tom Gilliam is proud to be a trusted Oakland County MI REALTOR® in Oakland County MI for the past 20 years- offering his guidance and expertise to home buyers and sellers. Tom understands that selling your home is a significant financial and life decision and that you are looking for someone you can trust to get you top dollar.
Tom employs the latest technology to get your home in front of as many buyers as possible. He also partners with the most talented home stagers and real estate photographers/videographers to ensure that your home’s features are optimally showcased.
Tom will create a competitive marketing strategy that exposes your home to the public along with other real estate agents through the Multiple Listing Service (MLS), other cooperative marketing networks, open houses for agents, and so on. Your listing will appear on all the most popular real estate sites where buyers spend hours a day looking at such as Realtor.com, Zillow, Trulia, REMAX, Redfin, and dozens of others. Your home will also be featured on Tom’s own highly-trafficked website homes2moveyou.com.
As your agent, Tom will protect your interests, advocate for you, negotiate on your behalf, and do whatever it takes to get your home sold fast for the best price. Feel free to reach out to Tom directly at (248) 790-5594 or you can get in touch with him by email.
Tom Gilliam, REALTOR® RE/MAX Classic
29630 Orchard Lake Rd.
Farmington Hills 48334
Email: Tom @ Homes2MoveYou.com
Selling Your Farmington Hills Home During COVID-19 Crisis
Now more than ever, it’s important for home sellers to be flexible with shifting market dynamics. While some sellers are deciding to pull their homes off the market during the COVID-19 crisis and try to sell at a later date, that may not be an option for everyone.
If you are planning to move forward with selling your Farmington Hills home, there are some things you can do differently during this current market while keeping everyone involved as safe and healthy as possible.
Prepping Your Home to Sell
Rather than spend your time going stir crazy from isolation and social distancing, use this downtime as an ‘opportunity’ to prep your home to look its best. Organize, clean, declutter, and prepare the inside of your home for the showings that will come.
Also, finish any DIY jobs such as replacing broken tiles or fixing or replacing that leaking tap.
When it comes to the outside of your home, spend some time creating the ultimate curb appeal that will blow the competition out of the ballpark.
Paint the trim, clean the gutters, powerwash the driveway and walkways, trim the hedges, plant some flowers, and whatever else that you can do to make your home look its best.
Create A Video Tour of Your Home
Getting your home in front of as many buyers as possible and finding new and creative ways during this time to accomplish that is key to getting your property sold.
Unfortunately, even though open houses are typically an effective tool to show your home to many prospective buyers at once, they are just not advisable at this time, given the current restrictions around large gatherings.
There’s no easy way to regulate how many people come into your home at once during one of these events. Instead of open houses and physical tours, ask your listing agent to create a video tour of your home as part of their marketing plan.
Many websites allow agents to upload videos to listings in addition to photos. The number of 3D home tours created on Zillow went up 362% as of March 20th.
A detailed and compelling virtual tour using either smartphone videos or 3D cameras to create high-definition, 360-degree walk-throughs can help prospective buyers get a feel for the layout of your home and an idea of whether or not it’s the right fit for them.
This will also help limit the amount of traffic going through your home to only those buyers who are seriously interested in your property.
Adjusting To The New Norm – Remotely
Although home selling during the COVID-19 crisis has slowed down a bit, it hasn’t come to a screeching halt. Professionals in the real estate industry are adjusting the way in which homes are being sold.
A listing appointment, market analysis, or preparing the home can all be done safely with sellers, while buyers consultations, preapprovals, and online home searches can also be done remotely.
Once you get an offer on your Farmington Hills real estate property, there are many different e-signing programs that you can use to sign contracts without having to go into an office and meet with your agent.
Title companies and loan officers with banking institutions are also instituting safe methods for selling houses without having all parties huddled in an office conference room at closing.
Buyers and sellers who are looking to start the process can still do what is required without putting themselves and others at risk.
Partner with Top-Rated Farmington Hills REALTOR® – Tom Gilliam
Whether you are interested in Farmington Hills homes for sale or you are ready to list your current property, Tom Gilliam provides the kind of knowledge, skills, dedication, and personalized service you need and deserve. Tom will take the time to listen to your needs and concerns, keep you informed every step of the way, and will go above and beyond to ensure a smooth and successful transaction.
To find out more about buying or selling Farmington Hills real estate, please contact Tom today at 248-790-5594 or you can get in touch here.
Asking Oakland County Michigan homeowners whether or not they feel it it is a good time to buy a house can lead to an imprecise way of measuring the interest in the Oakland County Michigan homeowners to enter the housing market. The reason being that there are a number of personal factors that are weighed in when deciding if it a good time to make a move in this Oakland County Michigan housing market.
The Fear of Oakland County Michigan Homeowners
Oakland County Michigan homeowners have seen such a drop in local housing inventory that keep them from putting their home on the market, fearing they will not be able to find a new home themselves. In a survey from the National Association of Realtors show one group of homeowners pessimistic with the hopes of selling their current Oakland County Michigan home, and other in the survey show much optimism in selling their home and taking advantage of the equity gains that have been rising and putting them into a new home. Lawrence Yun, NAR’s chief economist, says this may be good for the overall market. “There’s no question that a majority of homeowners have amassed considerable equity gains since the downturn,” Yun said. “Supply conditions would improve measurably, and ultimately lead to more sales, if a growing number of homeowners finally decide that this spring is the time to list their home for sale.” More here.
According to a recent report from the National Association of Realtors, home values are at an all-time high in 64% (or nearly two-thirds) of the markets across the United States. Single-family home prices increased in an astonishing 92% of markets, with 15% of metro areas seeing an increase of 10% or more.
While these price increases are clearly bad news for buyers, they’re excellent news for sellers—especially sellers who struggled with negative equity after the recession.
According to a recent CoreLogic report, Evaluating The Housing Market Since The Great Recession, the average house price is now 1% higher than it was at the peak of the real estate market in 2006, which means even homeowners who purchased at the peak of the pre-recession bubble have recovered their home value.
If you’ve been thinking about selling your Oakland County Michigan home, now is the time to do it. With home values at an all-time high and low inventory ramping up competition among buyers, there’s never been a better market to get the most value for your home.
As a professional Oakland County Michigan REALTOR®, I take pride in my knowledge of the current market conditions in all of the region’s micro-markets - and offer my clients an intimate glimpse into the neighborhoods that might become their next home or one they sell a home in.