For Sellers Archives | Page 11 of 96 | Blessings Realty | Colorado Springs and Monument Realtor

4 Things You Can Do to Make Your Home More Valuable to Buyers

April 2, 2021 By Claire Garlick Leave a Comment

If you have a home of your own, you already know how to think like a buyer. You know buyers look for a home that’s structurally sound, with modern amenities and conveniences that fit their lifestyle. If you look at your home through a buyer’s eyes, you can anticipate what will appeal to their tastes and fill their needs. This sometimes means updating certain areas of your home to ensure it stands out in the market. Here are several things you can do to make your home more valuable to buyers:

Update the Kitchen

You may wish to resurface your kitchen cabinets in a lighter color to provide a brighter, more appealing look. New hardware on cabinets can also help to improve the general appearance of your kitchen. Simple home improvements, such as a new backsplash or faucet, can help to modernize your kitchen area without accumulating a great deal of construction expenses. Since kitchens see a lot of use, you may want to replace flooring to give the room a fresher look.

Freshen Up Bathrooms

Bathrooms also see a great deal of use in homes. Moisture and humidity can cause floors, ceilings and fixtures to look old and unattractive. A fresh coat of paint, a new vanity and better lighting can give the room a more modern look. Consider new shelving for grooming items, towels and other frequently used items.

Pay Attention to Your Home’s Exterior

Check that your siding, gutters and roofing are all in good condition to put your property in the best possible light for potential buyers. Prune trees and shrubs for a well maintained appearance, paying close attention to your front entryway. A fresh color on the door, a flowerbed or a new railing can help to make your home look more inviting.

Update Your Appliances

Buyers consider not only the cost of the property itself, but also how much it will cost to update appliances and critical home systems. If your HVAC is more than 15 years old, consider replacing it with a more efficient model that will help to save the new buyer money. Inspect your kitchen appliances for wear and tear; new appliances can reassure buyers that they won’t have to spend money on replacements in the near future.

If you think strategically about what will make your home most appealing to buyers, you can avoid unnecessary expenses and choose the improvements that create the greatest impact. Real estate experts find that these four features can make a home more desirable for prospective buyers and can garner a higher sale price and a faster closing.

Article source: http://blog.rismedia.com/2021/more-valuable-to-buyers/.

Buyer and Seller Perks in Today’s Housing Market

April 2, 2021 By Claire Garlick Leave a Comment

Right now, the housing market is full of outstanding opportunities for both buyers and sellers. Whether you’re thinking of buying your first home, moving up to a bigger one, or selling so you can downsize this spring, there are perks today that are powering big moves for people across the country. Here are the top two to keep on the radar this season.

The Biggest Perk for Buyers: Low Mortgage Rates

Today’s most compelling buyer incentive is low mortgage interest rates. The 30-year fixed-rate is now averaging just over 3%. While that’s slightly higher than the record-lows from 2020 and earlier this year, it’s still way lower than historic norms, making purchasing a home an ongoing perk for hopeful buyers (See graph below):

This is a huge advantage for buyers and helps to make owning a home attainable for more households – and there’s good reason to strive for homeownership. The latest Homeowner Equity Report from CoreLogicshows how homeowners saw major gains in their net worth last year, all thanks to owning a home. Frank Martell, President and CEO of CoreLogic, explains:

Positive factors like record-low interest rates and a booming housing market encouraged many families to enter homeownership. This growing bank of personal wealth that homeownership affords was noticed by many but in particular for first-time buyers who want a piece of the cake. As a result, we may see more of those currently renting start to enter the market in the near future.

Low mortgage rates are a plus for buyers right now, but experts forecast we’ll see them continue to rise as the year goes on. If you’re ready to purchase a home, it’s wise to get started on the process soon so you can secure today’s comparatively low rate.

The Biggest Perk for Sellers: Low Inventory

Today, there are simply not enough houses on the market for the number of buyers looking to purchase them, and it’s creating a serious sellers’ market. According to Danielle Hale, Chief Economist at realtor.com:

Total active inventory continues to decline, dropping 50 percent. With buyers active in the market and sellers still slow to put homes up for sale, homes are selling quickly and the total number actively available for sale at any point in time continues to decline. (See map below):

The lack of houses for sale continues to challenge the market, and with low mortgage rates fueling buyer demand, homes are hard for buyers to find today. According to the latest Realtors Confidence Index Survey by the National Association of Realtors (NAR), the average house is now receiving 4.1 offers and is on the market for only 20 days.

Buyers are clearly eager to purchase, and because of the shortage of inventory available, they’re often entering bidding wars. This is one of the factors keeping home prices strong and giving sellers leverage in the negotiation process.

Homeowners who are in a position to sell shouldn’t wait to make their move. There’s a light at the end of the tunnel for today’s inventory shortage, so listing this spring will get your house on the market when conditions are most favorable. With low inventory and high buyer demand, homeowners can potentially earn a greater profit on their houses and sell them quickly in the fast-paced spring market.

Bottom Line

Whether you’re thinking about buying or selling a home, there are major perks available in today’s housing market. Contact Blessings Realty today to discuss how these favorable conditions play to your advantage in your local area.

Article source: https://www.keepingcurrentmatters.com/2021/03/25/buyer-seller-perks-in-todays-housing-market/.

How to Buy and Sell in Today’s Real Estate Market

February 19, 2021 By Claire Garlick Leave a Comment

One of the biggest concerns we hear from homeowners is how to time selling and buying a home in today’s competitive seller’s market. This has always been something we have managed closely, since most people prefer to move once. However, today’s strategy is different than it was just a few years ago.

Here are 7 strategies that have worked well for our clients:

Buy First. If you can qualify and afford it, the best move is to find and contract to buy first, then list your home for sale. We have our clients prepare their home for sale, so that as soon as they contract on their new home, we can list their home and usually have a contract within a few days to a week.
Find Next Home First. If you can qualify to buy first, but prefer not to make double mortgage payments, we are very skilled at timing the sale and the buy. Since finding and contracting on a home will most likely take more time than selling, we recommend finding your next home first. Prepare your home for sale, so that you are ready to list as soon as you find your next home. With the advice and help of your trusted Realtors (Blessings Realty, of course), make a competitive non-contingent offer on your next home when possible and get it accepted. Sometimes the sellers will accept a longer closing which will allow you time to sell your home. As soon as you are under contract, we will list your home for sale with the goal of closing your sale on the same day as your purchase. This allows you to move once.
Buy New. Most production builders are building spec homes which may be ready now or in the next few months. With the demand being so high, you may need to consider building from dirt. The advantage to contracting on a new build is that you can avoid the bidding war that is happening with resale homes. The disadvantages are that you may need to wait longer than 6 months and buying new will cost more than buying resale. Make sure you seek the advice and help of your trusted Realtors, Blessings Realty. Things don’t always go smoothly with the building process and we can be there to watch out for your best interests, intervene with the builder or get you out of the contract if needed.
Use a Bridge Loan. Another option is to get a bridge loan (yes, they are back) to allow you to purchase your new home before you sell. These loans are offered by local banks. It is short-term financing to allow you to finance your new home before you sell. Once you sell your home, you can then obtain a permanent mortgage with the down payment you will have from the proceeds of your home sale. We can recommend reliable lenders who handle bridge loans.
Tap Into Your Equity. Many of us have gained a lot of equity in our current homes over the past several years. You may want to tap into that equity by getting a home equity line of credit (LOC) or home equity loan and use those funds to buy your next home first. Then the loan gets repaid once you sell your current home.
Stay with Friends or Family. If you are lucky enough to have family or friends with extra space who you can tolerate living with for a short time 😉, see if they’d be willing to put you up in exchange for helping out with cooking, cleaning, childcare and/or household expenses. It could be a help for both of you during this time when so many are struggling financially. This way, you can sell your home first and then find your new place at a more relaxed pace.
Sell and Rent. Another option is to sell your home first and find a short-term rental while you search for your next home. There are options available. Ask us if you are interested.