What Drives Home Buyers Nuts

It's not a secret that some sellers do things that drive buyers nuts. Here are just some:

1. Many sellers don’t want to accept the fact that their home is worth substantially less than they paid, or what they thought it was worth. Some sellers base the asking price on what they “need” (like the balance left on their mortgage). Or they calculate the price they paid, plus the cost of renovations or sweat equity. The problem is that none of those factors has the slightest relation to what a house is worth. As a result the sellers set an unrealistic price, and that drives buyers nuts.

2. Occasionally you see ads that read “cash or conventional preferred.” Or the more flagrant version: “No FHA or VA “. Some sellers may mistakenly believe closing on a government-secured loan will take longer, when in truth, some conventional loans can be harder to close. A few sellers may suspect their homes won’t pass the more stringent inspection conducted by an independent, government-certified professional. Those restrictions drive buyers nuts.

3. “Silent treatment” is another one! You look at the asking price (which is a little high), study the comparables and make a solid offer. And you’re met with … silence. Instead of seeing your well-researched bid as a place to start negotiations, the sellers act offended. Whether the seller’s “offense” is strategic or genuine, it’s not smart to ignore an offer.

4. Covering up flaws is the next pet peeve. From employing strategically placed carpets to concealing unpleasant facts about the home, attempts at deception drive buyers batty. Advice to sellers: disclose everything, no matter how minor.

5. What drives a buyer crazy? Falling in love with a house that’s not really for sale. That's called “Playing Mind Games”. Or falling in love with one that has problems that a seller refuses to fix. Sellers who refuse to make needed repairs believe the buyers are hooked. And for buyers who decide to go ahead with the purchase the big question becomes: “Where’s that money for repairs going to come from down the road?”

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What makes buyers decide which house to chose

If you have ever wondered what drives a home buyer to select a particular home look no further. Here is an interesting article by RISMEDIA that provides a great insight http://rismedia.com/rrein/20904/1023666/5079737/79678?utm_source=newsletter&utm_medium=email

To search MLS for homes go to http://findneworleansproperties.com/ 

Curb Appeal When Selling a Home

Is the interior or the exterior more important when selling a house? Before buyers decide to go in, they will look at how appealing your home is by driving by. While the inside of a home is important, sellers make a big mistake when they neglect the exterior. Curb appeal is often a potential buyer’s first impression of a home. If you’re selling your home or about to, how can you quickly and effectively tackle the outdoor appeal? Here are some tips:

1. Start with the Front Door. A new entry door consistently ranks as one of the best projects in home repairs, yielding an increase in home value that’s greater than the costs to install one. To make the door especially captivating, consider painting it a bold, pleasing color that will grab attention and add charm.

2. Make Any Necessary Repairs. Is the window cracked or the front doorbell busted? Fix that! Buyers want turnkey, move-in-properties, and that means they want properties with repairs already done.

3. Landscaping. From mowing the lawn to pulling weeds, make sure you’re keeping up with your outdoor landscaping so that your home looks presentable and well cared for at all times. Landscape lighting can make all the difference in terms of how a home looks, so make an investment in attractive lighting options that illuminate and add interest to your property.

4. Touch Up Paint. Repaint the exterior or at least touch up problem areas. Another idea is to paint the trim a new color that creates either a nice complement or contrast to your home’s overall look.

5. Make Over the Mailbox. You might not think a mailbox matters much, but it’s yet another one of those little details that can add up together to make a strong impression on a buyer.

6. Add Outdoor Furniture. From rocking chairs on the front porch to an outdoor patio set on the back deck, outdoor furniture creates outdoor living spaces that expand your home’s appeal. Whether or not you include these pieces with the home sale, setting them up is a great way to stage your home for greater resale value.

The bottom line when it comes to curb appeal is that a little investment today can add up to big rewards tomorrow. 

For more tips visit http://findneworleansproperties.com/

Should You Buy a Home Today???

Should you buy a home now or should you wait? Will it help to wait till you save more for down payment? Are the prices too high, and if so, should you wait till they come down? Questions, questions, questions... Accordingly to the recent research, waiting can be costly, and here is why:

http://rismedia.com/rrein/20128/1023666/5079737/76988?utm_source=newsletter&utm_medium=email

To search for homes go to http://findneworleansproperties.gardnerrealtors.com/

Housing Prices Went Up Again in April

While spring is typically the setting for a strong market, low inventories and growing sales may be the culprit of rocketing prices. Home prices continued their upward climb in April, with a 2.7 percent monthly advance, moving the year-on-year gain up to 6.8 percent. This forward motion represents 38 months of consecutive year-over-year increases in home prices. 

Old-fashion supply and demand, fueled by historically low mortgage rates and improving consumer finances and confidence, continue to push home prices up. Including distressed sales, 30 states plus the District of Columbia were at or within 10 percent of their peak prices in April. Included among these states are Colorado, Alaska, Wyoming, Tennessee, Texas, Nebraska and New York. Selected markets such as the urban cores of Tampa and St. Petersburg; South Tampa; North East St.Pete; and the beaches, are extremely hot. All are at pre-recession levels with very low supplies.

For more information visit http://findneworleansproperties.gardnerrealtors.com/

Home Sales on the Rebound despite Affordability Concerns

Accordingly to Lawrence Yun, chief economist of the National Association of Realtors®, existing-home sales are expected to finish the year at their highest pace since 2006, but accelerating price growth and rising mortgage rates have the potential to slow sales. Existing-home sales are measurably higher than a year ago, and strengthened in March when more buyers entered the market as the spring buying season got underway. The sustained job growth and interest rates below 4 percent have been the catalyst behind the improvement in sales.

Yun expects home sales to steadily improve, ending up at a pace around 5.30 million (the highest since 2006) this year and 5.5 million in 2016. Yun also expects the national median existing-home price to rise to around 6 percent this year (5.7 percent in 2014) before moderating to 4 percent in 2016.
On the topic of home prices, Yun says increasing demand in recent months, without meaningful gains of new and existing-homes available for sale, is starting to negatively impact affordability and is pushing price growth to unhealthier levels.
Unlike the existing-home market, demand for single-family new home construction remains weak. Yun is forecasting housing starts to come in around 1.1 million this year and reach 1.4 million in 2016, which he says is still below the 1.5 million needed each year to keep up with the underlying demand. New-home sales are likely to total 570,000 this year, and increase to 720,000 next year.

For more information visit http://findneworleansproperties.com/

Downsizing Tips

If you are planning to downsize is in the foreseeable future, idea of paring down the possessions might seem daunting. But if the home will be placed on the market, you’ll likely have to cut clutter nonetheless. Here are some tips:

1. Plan backwards from moving day. If you have a clear idea when you plan to move, start downsizing three months prior. Sorting through one room at a time is best.

2. OHIO rule. “Only handle it once.” Avoid placing items in “maybe” piles. Ask yourself if you would replace the item if it disappeared – this will make the process feel much less like a trashing of beloved possessions.

3. More isn’t always better. Don’t be afraid to purge duplicates. The same applies to clothing – avoid holding on to garments that no longer fit, but might “one day.”

4. Scale back collections. Cutting a collection can be upsetting for anyone, downsizing or not. Approach the process as gently and practically as possible. Ask yourself which items are favored more than others, or limit the amount based on display space.

5. Get cash for your castoffs. If you’re planning to sell an item, start early – some things may not move as quickly as you’d like, and you don’t want to be stuck with items you no longer want come moving day. Garage sale, E-Bay, Craigslist, Auctioneers -you are to determine what will work best.

6. Donate. Donating items to charitable organizations can make parting with possessions much more manageable. The Salvation Army will transport big-ticket items like furniture or appliances. Other items can be donated to Goodwill or a local charity of your choice.

For more useful information go to http://findneworleansproperties.com/

What Attracts Millennials When Buying a Home

Social spaces
Entertaining friends is very important to millennials, the more places in the home that are conducive to socializing, the more attractive it is to younger buyers. Put taller than usual table with bar chairs in the kitchen to give the impression of being a good place for a crowd to place their drinks during a cocktail party. If there is a balcony, try to fit a grill out there if it is allowed, it represents freedom and adulthood more than most other pieces of furniture.

Millennial-preferred amenities
Access to superior technology is important to this demographic, so take the time to research options available for those in your home. Millennials want a place to charge all of their gadgets, so build in shelves right next to electrical outlets as designated charging stations.

Showcase storage
Many millennials in urban areas don’t want to own a car, so their biggest burden is what to do with their bike. In small condos there isn't usually room to store them so they end up taking up space in the living room. One of the solutions is to mount a bike vertically in the wall space behind the entry door.

For more staging tips go to http://findneworleansproperties.gardnerrealtors.com/

Final Inspection When Buying a Home

Many buyers ask the same questions: “why do I need to do the final walk-through?', “what should I do at the walk through?”, “how important is the walk-through prior to closing?”.

It’s not uncommon for buyers to want to rush closing, but rather than speeding through the process during the walk-through (or dozing off), do your best to evaluate the home as thoroughly as possible. Examine both the exterior and interior for any issues that may have developed after the inspection – particularly if the seller has already vacated the home. This includes:

• Confirming all door and window locks can be opened and secured properly
• Opening and closing doors and windows
• Testing the HVAC system and all appliances
• Turning on and off all indoor and outdoor lights
• Checking temperature and water pressure for all faucets, noting any drips or leaks and flushing toilets
• Confirming any required repair work

Aside from that, it’s a good idea to bring the inspector with you, if any repairs were agreed upon on the inspection response. Inspector can make sure that repairs were done up to codes and specifications. And don’t leave without obtaining:

• Alarm codes (if applicable)
• Remote garage openers
• System and appliance manuals
• Receipts for any promised repairs
  
  
  Lastly, watch for any items left behind by the seller, unless they were included in the transaction.
• For more information go to http://findneworleansproperties.com/ 

How to Stage a Home Without Breaking the Bank

If you are selling or considering selling your home staging is what might help you to reach that desirable price tag that you feel is essential to accomplish your goals.

Many sellers think that they can't afford staging, that staging is absolutely cost prohibitive in their situation.That's not necessarily true, and to demonstate how it can be done without breaking the bank, I would like to share with you the recent publication by Rismedia Housecall /http://blog.rismedia.com/2015/golden-rules-home-staging/

For more helpful information go to http://findneworleansproperties.gardnerrealtors.com/