Christmas Holiday is just around the corner and we give you the green light to go a little crazy on the decorations, if you are planning to sell your house during the holidays. The more festive you are, the higher the attention your house will get. You are probably wondering how to spruce up your house during holiday season, the busiest month of the year but the good news is, buyers hunting for a house right now will appreciate your efforts if you play your cards right. In fact, we guarantee that if you pay special attention to staging, you will be sitting in your new house before Christmas.
So, how should you tackle this holiday season sale?
Let us educate you:
Make Sure the Online Listing Is Accurate
From pictures to the summary and other major details about your home for sale in Oakland County, Michigan should be mentioned on the listing. People are very busy running errands during the holiday season and you do not want to waste their time by promising something and then showing them something else.
Take Advantage of the Holidays
So, the Christmas light are probably going to go up, right? This is the time to use every decoration piece in your attic boxes and light up your house. Make the place look cozy by paying more attention to the fireplace, guestroom and the staircase. If you are willing to spend a little extra, then light up the tree too.
Be Flexible In Booking House Tours
As mentioned earlier, this is going to be a busy, so try to accommodate as many buyers as you can for the viewings. Try to work with their schedule and make sure when they arrive, you are there to greet them at the door.
The Home Should Be Move-In Ready
Buyers will be looking towards making a quick deal, so get the home inspection out of the way early. Do not leave boxes lying around in your home for sale in Oakland County, Michigan because it might give buyers the impression that you are still in the stage of moving. This way, when the buyer will step foot in the house and you will hand them home inspection report, they will be more interested in exploring the house. To sweeten the deal, offer them incentives such as paying the closing cost and warranty for some of the big appliances.
Pay Attention to the Curb Appeal
This goes without saying that the more beautiful your house looks from the outside, the more offers you will receive. So take out those sheers and start clipping the overgrown hedges.
Do place some cookies and eggnog on the kitchen counter for people to enjoy. Even a small things such as this goes a long way in making up the buyers’ minds. Looking for a real estate agent to help you put up your home for sale in Oakland County, Michigan? Visit Homes2MoveYou now and get yourself a real estate agent for the right listing.
If your a Home Buyer and Home Seller you know the real estate market is HOT!, In fact May 2018 home sales hit an all time record in Oakland County and across the country. Most homes have had multiple offers and are flying off the market like nothing we have ever seen before, especially here in places like Farmington Hills, Novi and Northville. Low inventories have made it a challenge for many home buyers and on the other hand have made it a dream come true to home sellers which are happy to have their homes even selling for over asking price. Seems the May 2018 home sales record is just a sign of things to come.
May 2018 Home Sales Were Smoking HOT
In a recent article from Realtor.com “Home-Buying Frenzy Sets a Record as California loses it’s grip on Hottest Markets” confirms that the May 2018 home sales data reveals that in fact it has gone down in history as the May 2018 homes sales was the best ever recorded. In the article it states that homes are spending 32 days less on the market then any previous six year period, it is also stated 30 of the top 50 housing markets in the country saw their homes on the market the least of amount of time since 2012 (when Realtor.com started following sales data)
In May 2018 home sales have homes flying off the market, but are selling for higher than anytime before as the median listing price was $297,000-which in an increase of 8% over last May of 2017. It is clear that we are on the recovery track for the housing market across the country which has been a strain on our economy for quite some time both locally and country wide. The May 2018 home sales report and it being a record breaker is great news for home owners and those who are looking to sell this summer, but we still face very low inventories for many home buyers.
If you are looking to sell, NOW is the time to do so. In this market you may fetch more than you thought possible for your home and sell it very quickly in the process. Like all things, this to shall pass and you wouldn’t want to miss out on this incredible home selling season. If your on the fence, lets chat about it and see what works for you, please feel free to request a customized value report below.
If you’ve decided it’s time to move up to a bigger home, new home a better home or a home in a more coveted area, your next challenge will be getting there financially. Great Strategies for buying your next home is the key and It’s likely you’ll need more cash, a larger income and, perhaps, better credit than you had when you purchased your current home. Putting all the pieces in place for the move up could take some time and detailed planning. Great Strategies for buying you next home can help with the head-aches and surprises that come along if your not prepared. In the Greater Oakland County Michigan area there are many areas to purchase or up-grade to a new home or a better home, its all about planning and being able to make that move when the time is right. Don’t get stuck “in the mud” when it is time to move up to a better property or one that fits your needs either because your family is growing or because you need to down-size. I hope these tips prepare you for when the time is right, please keep me in mind for all of your Real Estate needs.
1. Credit Check
Although your credit rating may have been sterling as a first-time home buyer, years of credit-card and utility accounts, car payments and consumer loans may have scuffed up that financial image a bit. Late or missed payments have a negative effect on your credit profile, as do large, long-term balances on your accounts. Your credit score, a rating system many lenders use to evaluate your financial situation, may prevent you from borrowing as much as you’d like for your next home or getting the lowest interest rate currently available.
The wise move-up buyer will take stock of his or her credit standing and debt status well before attempting the next home purchase. You may need some time to reduce your debt, catch up on any delinquent accounts, remove inaccuracies and blemishes from credit reports and make other adjustments to increase your credit score.
2. Shop a Loan
A quick way to sift through these issues is to contact a lender who can pull a credit report to see if there are any glaring spots on your record. If nothing needs immediate attention, you can continue on with a complete application, providing the financial information needed for loan pre-approval. The loan officer will determine the maximum loan amount you qualify for based on your income and debt profile.
You may want to shop around at this point, comparing loan programs and interest rates. Consider how well your current loan has worked for you and remember that rates aren’t everything. The lowest rate may be accompanied by high points. If so, you’ll have to keep the mortgage long enough to justify paying the steep up-front cost of the loan.
Consider whether a non-traditional mortgage program could meet your needs. An adjustable-rate mortgage may be a good choice if it looks as though interest rates will be falling. A 40-year mortgage might reduce the monthly payment enough so you qualify for a larger loan
3. Collect your Cash
An important factor in the equation that determines your buying power will be how much cash you have for a down payment and closing costs. The best mortgage interest rates are available to buyers with down payments of 20% or more. If you make a smaller down payment, you may have to take a higher interest rate or pay for private mortgage insurance, both of which will reduce your buying power.
Unless you’re a prodigious saver, chances are the equity you have in your current home will provide the largest source of cash for your next home purchase. Equity, of course, is the difference between the market value of the home and the balance on any mortgages secured by the home.
We would be happy to conduct a comparative analysis of your home to determine the right sales price — at no obligation to you, of course. By determining the value of your home and subtracting out selling costs (paying off the old mortgage, marketing fees and settlement expenses), you’ll have the basis for a down payment on your move-up property.
4. Tune it All In
After taking stock of your financial situation, you may find it necessary to delay your move in order to get the type of home you’ve targeted. Perhaps you need to save more cash for down payment and settlement costs. You may need to pay down outstanding debts to improve your credit score and qualify for a larger mortgage or a lower interest rate. Remember, it’s likely your home’s value and your equity in it will continue to grow as you get yourself in a position to move up successfully.
Safe Open Houses
Safe Open Houses is the goal, recently in the Greater Oakland County Mi. area there have been reports of robberies while agents hold open houses on their Sellers Properties as a means to get more traffic through the homes for sell. This is quite serious and can cause great harm to agents and their seller’s property. In an open house you can either be bored to tears or you could have many people coming in at the same time and it can easily become a hectic situation especially if there is only one agent holding the home open. Let’s face it, most of us realtors hate to hold open houses and statistics show that very rarely is a home sold during an open house but new agents have this as one of their main avenues to generate prospective home buyers. Naturally during open houses you will get neighbors that want to see the home just to possible compare or to just be nosey which is harmless, but always as you should do with everyone else you keep an eye on them and try to follow them through the home as they look around.
The real ones to really watch are the “gang” that show up with 3 or more people and they scatter throughout the home without you being able to control all of them, in this case you ask if you can show them one at a time and have the others wait outside, try to do this in a polite way and make them sign in on a sign in sheet that you have done beforehand, keep in mind this tactic sometimes doesn’t work and before you know it they are scattered the house. Being in control and acting like you are can deter much of the madness and chaos that can ensue when this happens. When I get more than three people in an open house at once I usually will lock the front door (so others don’t come it) and ask them if they can all go with me and I will give them a tour of the house, but be sure to lock the door so others don’t come in while you are touring with the group. Another thing to do is have everyone that comes in to the open house is to remove their shoes and place them all in one spot next to each other, this make it difficult for a snatch and run situation and also shows the home seller respect.
It is also your duty as the realtor to have a conversation with your seller as to the risk that in place once you have an open house. Make sure your sellers knows to take anything of value out of the home, not to just hide them but remove them altogether these would include things such as jewelry, laptops, crystal, gaming devises, money, small trinkets and especially their prescription drugs as this is a big ticket item to thief’s. There is also something that may not be thought of, but always remove markers or pens as small children sometimes will mark and draw on walls, not on purpose but try to avoid that if possible.
It is also very important to watch or be vigilant to pay attention to the vehicles that people pull up with if you see something suspicious do not hesitate to lock the doors and call your local 911, it’s better to not let those suspicious ones in the house making you and the home owner vulnerable. It is important that you be safe during open houses and this isn’t meant to get anyone paranoid or not to have open houses, but only to share my experience’s and help all my fellow agents and home seller be safe and aware that this is a real issue. Below are some tips that might help also, enjoy and be safe!
- Park where you cannot get blocked in. Agents are most afraid when they are walking back to their car after an open house, Wooten said. Therefore, take a few minutes to make sure you have a clear line of sight to your vehicle.
- Meet the neighbors. There’s safety in numbers. Introduce yourself, point out your car, and invite the neighbors over to the open house.
- Advise clients about valuables. Thefts often result in lawsuits against agents, Wooten said. To forestall this, develop a list of valuables clients should put away before an open house, including mail, jewelry, prescription drugs, extra sets of keys, and financial statements, among others.
- Be aware and work in teams. The No. 1 place where agents are attacked during an open house is the front door, partly because lockboxes take time to open, Wooten said. If you are alone, turn your back against a wall to avoid being attacked from behind.
- Establish your escape routes. Walk around the house and notice how to get in and out of rooms. If there is a fence in the backyard with a gate, unlock the gate for easy exit. As another escape route, open the garage door but lock the door leading to the inside from the garage. Direct clients to the front door with signs.
- Set up for safety. Hang decorative bells behind every outside door that you have unlocked. These will alert you whenever someone enters the house. Do not bring your laptop to an open house. Not only can it be easily stolen, but signing on to someone’s unsecured wireless network can open you up to identity theft.
- Check out your guests as they arrive. As soon as someone comes in, jump up, introduce yourself, and direct guests to a sign-in sheet.
- Never, ever turn your back on a prospect. Let prospects walk in front of you. If a man says, “Ladies first,” to a female agent, the agent should say something like, “You are such a gentleman, thank you. But I really want you to see this home, and if I can direct you where to go, I think you’ll gain a further appreciation for this home.”
- Never go into certain rooms. When showing visitors around, never go into rooms with no escape routes. These include walk-in closets, bathrooms and laundry rooms, among others. Instead, direct visitors to those rooms.
10. Close up in teams. Openings and closings are the most dangerous times during an open house, most times there is another agent down the street also doing an open house. If you’re alone, lock up your house, go over to the other agent, and offer to walk through his or her house and close it up with him or her and then both of you can go over to your house to do the same.
Pay Cash Verses Mortgage is a hard decision and could use some good thought and understanding These are questions as a Professional Realtor I face everyday in the Greater Oakland County Mi from some Home Buyers. Pay Cash verses Mortgage can be a tough decision for Home Buyers, and I’m not a financial adviser by far and cannot give that sort of advice to my Home Buyers, it is a question many have. Pay Cash verses Mortgage needs some food for thought and much consideration when deciding either way,
There are ups and downs in deciding to Pay Cash verses Mortgage and wanted to share them to help educate Home Buyers to the differences of both options. I do hope this information is helpful and helps to guide and educated Home Buyers into making the right decision that is best for them. Are you considering paying cash vs a Mortgage for a home? Perhaps you sold a more-expensive home or you’ve received a substantial inheritance. Maybe you have a lifetime of savings stockpiled—or you won the lottery! Being freed-up from a mortgage payment seems like a great idea at first glance. You would have no more worries about missing payments—or having your home foreclosed on. Not having a monthly mortgage payment—usually the largest payment a homeowner makes—could free up monthly income for other purposes.
- The flip side deciding to Pay Cash verses Mortgage that tying up most or all of your cash in your home may not leave you with the flexibility to pay for other things (e.g., college fees, living expenses, healthcare costs) or to respond to emergencies. Although you might later be able to tap your home’s equity with an equity loan or line of credit, doing so takes some time, and you would likely end up paying a higher interest rate than if you had taken out a mortgage to begin with.
- Pay Cash verses Mortgage means you will be lacking a mortgage meaning you would forego the opportunity to shelter some of your income by deducting mortgage interest expenses from taxes.Rather than putting all your cash toward a home purchase, consider a large down payment and an accelerated pay-off plan, such as a shorter-term 10-, 15- or 20-year mortgage. This way, you can use your income to pay off the mortgage sooner, and you still have “liquidity” for other investments and rainy days.
- Big red tax-break flag: If you should decide to take a mortgage out on your home more than 90 days after you purchase it, and you don’t use the money to improve your home, the mortgage would be considered “home equity debt.” In this case, you would only be able to deduct mortgage interest payments on up to $100,000 of your debt ($50,000 if married filing separately).
- When you take a mortgage to purchase a home within 90 days before or after the purchase, it is considered “home acquisition debt”—allowing you to itemize interest-payment deductions on mortgage debt up to $1 million ($500,000 if married filing separately).
- Today’s still-low mortgage interest rates make borrowing inexpensive and paying cash verses mortgage that much more of a challenge. With a mortgage and more freed-up cash, you could put your money into stocks, bonds and other investments that can yield significantly higher returns than what you would save by not paying mortgage interest
- Be sure to consult a financial professional to find out how paying cash or taking a mortgage would impact your unique situation and future plans. You can also get more information at www.IRS.gov; search for Publication 936, Home Mortgage Interest Deduction.
Paying Cash verses Mortgage is a challenging question and it of course is based on every Home Buyers particulate situation. I hope this helps..and remember to seek out a professional Financial Advisory to discuss what is best for you. Happy Home Hunting!