Phone: 727-498-0688


FAQs

I need to buy a house with a good resale value. How do I determine if my house will increase in value within the next five years so that we can upgrade? I can buy a smaller house in a great location or get twice as much house in a good location. Which is a wiser decision?

It’s like buying stocks. How do you really know which ones will increase most in value over the next five years? As with any investment, there are risks.

The most often quoted rule is that location is the most important factor.You want to make sure that the house does not back to busy streets and is as close to the interior of the tract as possible. Avoid corners and intersections. Choose the middle of the block or a cul de sac. You’ll want to be sure it has at least two bathrooms (if you are buying in an older area).

Sometimes it is just timing that works out best for you. For example, if you buy a home before a major surge in local prices.

What costs can I expect to pay?

Fees vary depending on the type of property as well as what is negotiated in the sale. Your Realtor® can provide an estimated closing statement to give you an estimate of what is to be paid as part of the sale. Some costs include:

Our family is growing and we need to buy a larger home, but we need to sell our current home. Where should we begin?

Selling your home involves many steps, from consultation to pricing, marketing to escrow. Your Goldman Morgan representative has many resources and a high level of expertise to bring to this process, which will be tailored to fit the characteristics of your property.

  1. Find an Agent: Interview a few listing agents and find one you’re comfortable with. A good agent can be the difference between a smooth sale and a stressful one.
  2. Develop a Plan: It’s important to set clear goals and decide at the outset how involved you want to be in the selling process. Ask about your agent’s marketing plans for your home, discuss your expectations about their role and your role in selling the home, and work together to make the sale.
  3. Make Repairs: Walk through your home as a prospective buyer would. Check flooring, plumbing and lighting fixtures, heating and ventilation systems, roofing, and any other major features.
  4. Upgrades: Add small cosmetic touches that might help you sell the home. You could spruce up the entryway to make it more inviting, plant flowers in the front yard, and send belongings that clutter up rooms to storage.
  5. Pricing: Settle on a realistic price – you want your home to sell in a timely fashion, and not make buyers speculate on why it is just sitting on the market. Check sales prices of comparable homes and consider getting an appraisal to assess the market value of your home.
What factors affect my home’s sale price?

You want your home to sell for the highest price possible, but also in a timely fashion. Here are some factors that influence the price of your home:

Conditions that do not affect the price of your home:

Are there important factors to consider when selling a home?

The two most important factors are price and condition in selling a home. The first step is to price it properly. Then, go through the house to see if there are any cosmetic defects that can be repaired.

A third factor is exposure. It is also important that the home gets the exposure it deserves through open houses, broker open houses, advertising, good signage and listing on the local multiple listing service, as well as the internet.

Choose the real estate REALTOR® that you believe will get the job done, not the one that quotes you the highest price – sometimes just to buy your listing.

What should I do to get my house ready?

The way you live in a home and the way you sell a house are two different things. First and foremost, “declutter” counter tops, walls and rooms. Too many “things” make it difficult for the buyer to see their possessions in your rooms or on your walls, however don’t strip everything completely or it will appear stark and inhospitable. Then clean and make attractive all rooms, furnishings, floors, walls and ceilings. It’s especially important that the bathroom and kitchen are spotless. Organize closets. Make sure the basic appliances and fixtures work and get rid of leaky faucets and frayed cords. Make sure the house smells good: from an apple pie, cookies baking or spaghetti sauce simmering on the stove. Hide the kitty litter, and possibly put vases of fresh flowers throughout the house. Pleasant background music is also a nice touch.

The second important thing to consider is “curb appeal.” People driving by a property will judge it from outside appearances and make a decision then as to whether or not they want to see the inside. Sweep the sidewalk, mow the lawn, prune the bushes, weed the garden and clean debris from the yard. Clean the windows (both inside and out) and make sure the paint is not chipped or flaking. Also make sure that the doorbell works.

Should I make repairs?

Minor repairs before putting the house on the market may lead to a better sales price. Buyers often include a contingency “inspection clause” in the purchase contract which allows then to back out if numerous defects are found. Once the problems are noted, buyers can attempt to negotiate repairs or lowering the price with the seller. Any known problems that are not repaired must be revealed as a material defect. You do not have to repair the problem, only reveal it and the house should be appropriately priced for that defect.

What do I do if my house isn’t getting activity?

Even in a slow market, price and condition are the two most important factors in selling a home.

If a home is not getting the activity it needs in order to sell it is probably because it is overpriced for the market. The first step is to lower the price. Then go through the house and see if there are cosmetic defects that you missed that can be repaired.

The second step is to make sure that the home is getting the exposure it deserves through open houses, broker open houses, advertising, good signage and a listing on the multiple listing service and internet.

A third option is to remove the home from the market and wait for overall housing conditions to improve and catch up to the price your asking.

Finally, frustrated sellers who have no equity and are forced to sell because of a long term illness, divorce or financial considerations should discuss a short sale or a deed in lieu of a foreclosure with their mortgage lender and their REALTOR®.

A short sale is when the seller finds a buyer for a price that is below the mortgage amount and negotiates the difference with the lender.

In a deed-in-lieu-of-foreclosure, the lender agrees to take the house back without instituting foreclosure proceedings. These are considered more radical options than lowering the price.

Have additional questions? Contact us!