According to Daily Real Estate News, Almost 80 percent of agents who were survey said that buyer who are out during the holidays are more serious.  Over 60 percent of agents said that because there are less homes on the market that there is not as much competition for the seller since less homes are generally for sale during that time.   Interestingly enough, almost 20 percent of agents said that the homes felt more cozy due to the cold weather.

During the winter season photographs the the property are even more important for the sale of the home according to the interview by Realtor.com.  Sellers don’t tend to offer open houses as much during the holidays, therefore relying more on the photos and videos.  This also helps the buyer bypass listings that do don’t interest them.

Helpful Tip:  Find an agent that takes good photographs.  I am a photographer on the side and I have had many people remark on the photos and how the photos got them to look at the property.

Photo Copyright 2006 Amy S Myers

1. Painting – take the opportunity to brighten up rooms and get rid of those scratches and finger prints and smudges. Use neutral tones. Your buyer is most likely not going to like that red wall (or even the wall paper) . Wall paper is an instant repair list item and instant work. I recently removed a wall paper border in a small bathroom and it was a thorn in my side. Freshen up paint on the outside and especially the front door. It is the first thing the buyers see. I have had buyers that pull up to a house and refuse to go in because the front is not appealing.
2. Landscaping – trim the grass, get rid of any weeds, keep the shrubs under control. Low maintenance will be easier on you and the buyers eyes.
3. De-clutter – Clean and de-clutter your home. By doing this, of course, makes it neat but also low stress and makes the home seem cleaner. Get rid of personal photos. Some buyers have a hard time envisioning the homes as theirs with personal photographs around the house. Remove furniture and items that take up a lot of space. Rent a storage unit if you have to. Remember buyers are evaluating the space.  This week I showed a home that was from another era. Oh, maybe 20-25 years ago. There was stuff in every nook and cranny, plants, knick knacks, etc. . . The whole thing was rather chaotic. The buyer had no interest in the home, even though it was a good bones home. He could not get passed all the personal items and taste specific décor. The house really needed a make-over.
4. Minor repairs – Buyers see the details and they can tell when you have a very clean house and all details are taken care of that the other working parts are most like taken care of the same way. Fix the handle on the drawer or that missing little piece of molding, or that stain spot.
5. Staging – talk to your agent about staging. A job well done in this area can set you apart from all the other homes in your neighborhood.

Private transfer fees are part of a covenant attached to a property deed that forces the seller to pay 1 percent of the purchase price to a private third-party entity every time the property sells over the next 99 years. These fees cost unsuspecting homeowners thousands of dollars in additional closing costs.”

Quoted from:

http://www.parjustlisted.com/archives/8065#utm_source=feed&utm_medium=feed&utm_campaign=feed

“In an ideal real estate market, that would add value, but in today’s market, expensive pre-sale renovations, for the most part, aren’t worth it. The numbers bear this out: In general, a home remodel will cost quite a bit more than you’ll get back when you sell; remodels done in 2010 will only recoup 60% of their price when the house is sold, according to Remodeling magazine’s 2010 Remodeling Cost vs. Value survey, done in partnership with the National Association of REALTORS® (NAR).” – RISMedia

Kitchens and bathrooms are still what attract buyers. So yes, that is where you would want to start. Here are some tips on what to do and not do if you are getting your home ready to sell.

In the Kitchen

• Costly professional-grade cook’s appliances should be avoided. If buyer might enjoy the professional grade he might actually prefer a rival brand or maybe the buyer is not a chef.
• Have your appliances serviced so that they are in excellent working order. If your appliances are seriously out dated, you may want to consider replacing them. Buyers do love stainless appliances – a great selling point for sure. Many times you can find new appliances on amazing clearances because it is old stock. One time I found an oven at Sears for 90% off.
• Consider skipping replacing your kitchen cabinets even if slightly outdated. This can be a “taste-specific” issue and very subjective. If you chose light cabinets and they buyer prefers dark wood, then you might loose them over and improvement.
• Think about refacing the cabinets if they are extremely outdated. You could have a company come in for under $2000 and this is a great investment in comparison to at price new kitchen.
• Granite and marble should be avoided as a pre-sale upgrade. It is too costly. With so many different options, it will be tricky to find something that will please a large number of buyers.
• Hiring a professional cleaning company is a wonderful idea. Have you ever had your car detailed. Well detail your kitchen and even the rest house. It will not go unnoticed.
• Do touch up your the paint on the trim and the walls. Hopefully you still have some left over paint or that swatch to get more.

In the Bath

• Don’t invest in big ticket “taste specific” items like the kitchen. Skip expensive tub and shower upgrades as they are a matter of taste.
• Go a ahead and replace dated fixtures in the bath, sink and even lighting. Oh yes, and please get rid of that brown, green or pink toilet. Buyers don’t like to be forced to decorate around the color of the toilet. Another idea is replace your small shower head with a rainwater style to give the shower a spa feel.
• Do try to brighten up the vanity. It is affordable to add a large mirror and lights.

Photo Copyright 2006-2011 – Amy S Myers

The ultimate goal is to have a tranquil – place to unwind and escape from stress. But if you have a cluttered home that may be difficult. Take a look at some easy tips for your home to get started on cutting the clutter:

1) Be realistic by setting goals. If you try to clean up your house in a hour or two that may only cause frustration. Start with one room at a time.

2) Come to terms with possessions that may have an emotional attachment ( a weakness for me ). It could be tough on letting go of some of those family items that have been passed down but other things can be thrown away, donated or sold.

3) Remove the clutter that is out in the open. Try to keep photo displays to a minimum, as well as artwork and knickknacks. If you have heavy curtains, try getting something lighter. Less clutter will make your rooms feel more spacious and open.

4) Alphabetize your DVDs, CDs and video games. You will thank yourself next time you go looking.

5) Store your seasonal clothing elsewhere when not in season.  A good rule of thumb is if you haven’t worn it in 6 months donate it or sell it.

6) Control your mail and newspapers. Throw them away as soon as possible. Keep important items in a place that won’t be bothered. I find that I have to grab the bills from my mail immediately, because on a previous occasion, they have gotten to the middle of a pile that got moved to a closet and was never seen again until the late bill came.

Start with these items and you will be on your way to clutter free living. 

Photo Copyright – Amy S Myers 2007-2011

1)  Compare other homes in the neighborhood by gathering data on recent homes sold generally in the last 90 to 180 days.

2)  Consider Short sales and Foreclosures when pricing.  Sometimes these are sold below market value but can bring comparable prices down.

3)  Negotiate with Decisiveness.  Buyers are not interested in  negotiations where talks go back and forth.    They are more savvy and willing to walk away if things get to picky.

4)  If your house is not selling it could be the price so know when to drop the price.   Buyers will not even look and even loose interest if the price is too high.

Remember your first 30 days on the market are the most critical.  That is when you home gets the “most” attention because it is a new listing.  So if you have it priced very competitively and it is a great house, you may command list price.  I have seen it happen.

Here are some things to assist when the appraiser stops in:

1)  Allow 30 to 60 minutes for the appraiser to go in and inspect the property as well as take photos.  The appraiser will also measure the home, garage and any other outbuildings.

2)  Make a list ahead of time of things that you would like to improve or have ready prior to the appraisal.  This will help you have better results.

3)  If you have a floor plan or blue print of your home, it can come in handy when trying to verify measurements.

4)  Write up a list that includes improvements you have made to the property since you have owned it and how much you spend on those items.

5) Make sure the appraiser has access to all spaces on the property including attic and crawl space areas.

6)  Point out key features of the home that you feel give it some value.  There may be some things the appraiser could miss.

7)  Provide information on last year’s tax assessment.

8)  Be able to tell the appraiser when the house was built and when improvements were done.  Such as what year the roof was put on.

9)  If you know of some recent comparables in your neighborhood, have those available.

But did you know that if you are stepping up and having trouble selling your home, you can still qualify without actually selling the first home.  But. . . you must purchase the second home as your primary residence.   Not too bad.  It is time to move.  . . .  Are you ready?

“There is no requirement that existing homeowners must have sold their home to be eligible for the $6,500 tax credit. However, Weichert encourages existing homeowners who want to benefit from this incentive to move quickly, particularly those who prefer to first sell their current home before purchasing a new one.”  Quoted from : RIS Media – Repeat Buyers Need to Act Fast to Capitalize on Expanded Tax Credit

Tax Credit Details

Additional Tax Credit Details from Realtor.org

Frequently Ask Tax Credit Questions

AKHome.info Tax Credit Archives

“Obama Signs Extended Tax Credit into Law”-  Expected to contribute approximately $22 billion to the economy, Congress overwhelmingly passed a bipartisan measure this week extending the $8,000 home buyer tax credit to April 30, 2010″. . . . .

More people are now eligible to take advantage of the law, which includes a $6,500 tax credit for buyers who are current home owners and have lived in their home for five of the past eight years.” 

“Which Properties Are Eligible?   – The 2009 First-Time Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

How Much Will the Credit Be?   – The maximum allowable credit for home buyers is $8,000. Each home buyer’s tax credit is determined by two factors:

1) The price of the home—the credit is equal to 10% of the purchase price of the home, up to $8,000.

2) The buyer’s income—single buyers with incomes up to $75,000 and married couples with incomes up to $150,000—may receive the maximum tax credit.”  - Quoted from Realtor.org

Additional details on the tax credit

Here is a helpful chart on the new home buyer tax credit changes.  You will be able to compare the first home buyer tax credit plan that expires November 30, 2009 and the new plan that starts December 1, 2009.  Chart supplied by the NAR (National Association of Realtors)

Additional info from CNN.com

“The bill also made more homeowners eligible to claim the credit on their taxes. First-time buyers — those who have not owned a home in the past three years — still qualify for an $8,000 rebate. But now people who want to trade up can also qualify. Those who have owned and occupied a residence for at least five years out of the past eight can claim a $6,500 tax credit if they close on a purchase by the end of June.

“The new version of the tax credit has the potential to stimulate the housing market even more than the old version due to the fact that more people will qualify under the new rules,” said Gibran Nicholas, chairman of the CMPS Institute, an organization that certifies mortgage bankers and brokers.   “

“Senate Banking Committee Chairman Chris Dodd (D-Conn.) says Senate Democrats have agreed to extend the first-time home buyer tax credit. The latest version extends the program to home sales signed — not closed — by April 30. Purchasers would have another 60 days to close the sale. The credit will also be expanded to include so-called step-up buyers who have lived in their current home for at least five years.

“The credit would be cut nearly 10 percent to a $7,290 cap. Income eligibility for first-time home buyers would stay the same, but it would rise for step-up buyers to $125,000 for individuals and $250,000 for couples.”

Source: Bloomberg News, Dawn Kopecki and Ryan Donmoyer (10/27/2009)and Realtor.org

Photo Copyright 2007-2009, Amy S. Myers