5 Home Staging Mistakes That Frighten Buyers Away

house with dark staircaseHalloween is just around the corner. For many homeowners, that means carving pumpkins, hanging up Halloween decorations, and stocking up on fun-sized candy. But if you’re a homeowner who is thinking about selling this fall season, you might be preparing your home for buyers instead of trick-or-treaters.

Home staging is a crucial part of home selling preparation. According to the National Association of REALTORS® 2015 Profile of Home Staging, 32% of buyers’ agents and 37% of sellers’ agents believe that a staged home increases the amount buyers are willing to pay up to 5%. On a $200,000 property, that’s $10,000!

But is your home effectively staged to sell? If you are preparing your home yourself, beware of these staging mistakes that scare away home buyers — and potentially thousands of dollars.

1. A Dark and Spooky Entryway

Your front entry is one of the first things buyers notice about your home. Peeling paint, deep shadows, and uninviting colors don’t create the best first impression. Turn your front entryway into a focal point by painting your door a bright color that complements your home.

cobwebs on dusty night stand2. Cobwebs in the Corners

At a showing, buyers are going to inspect virtually everything: light fixtures, closets, ceilings, you name it. Thoroughly clean your home from top to bottom (or hire a professional) to make it look like new. You can always ask a friend or neighbor to take an objective look at your home.

3. Startling Colors on Your Walls

The goal of home staging, besides selling your home for top dollar, is to help buyers visualize themselves living in your home. If you have bold, bright colors on your walls, switch to more neutral colors to appeal to all potential buyers.

4. Menacing Halloween Decorations

Staging your home for Halloween is fine in moderation. But remember, not all buyers will think the fake spiderwebs or rubber arms are festive. Unless the headless horseman himself is buying your home, it’s best to keep him out of your front yard.

standing in a long dark hallway5. Hovering Like a Ghost During Showings

How you present your home when it’s on the market goes hand-in-hand with home staging. Make your home available and make yourself scarce during showings. Potential buyers might find it creepy if the current homeowner is lurking somewhere in the shadows.

Thinking of Selling Your Home This Fall?

Selling your home doesn’t have to be scary. We have a wealth of home staging tips and home selling resources that will help you sell quickly and for top dollar. Contact us to learn more.

Mortgage Rates by Decade Compared to Today [INFOGRAPHIC]

Mortgage Rates by Decade Compared to Today [INFOGRAPHIC] | Simplifying The Market

 

Some Highlights:

  • The interest rate you secure for your mortgage greatly influences your monthly housing costs.
  • In the 1980s, 30-year fixed mortgage rates averaged in the high 12s making the monthly principal and interest payment over $2,000.
  • Interest rates are still at historic lows; this is a great time lock in your housing cost and protect yourself from increasing rents, or refinance your current mortgage.

A Trendy Solution for Home Interiors: The Barn Door

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By Melissa Dittmann Tracey, REALTOR® Magazine

Sliding barn doors can add a modern twist to an interior space. Malte Strauss, broker and owner of Trust International Real Estate LLC in Deltona, Fla., says the barn door trend has caught on in central Florida.

“They are great for locations where a swinging door would infringe on the space and where there is not a conventional doorway,” Strauss says. “We use them all the time in master bathrooms where there is a vanity area that is separate from the tub commode area.”

They can also be a great solution in modernizing the vanity area of homes from the 1970s and 1980s, which tended to have the vanity in the master bedroom rather than in the bathroom. “Now we just close those off with a barn door and buyers love that solution,” Strauss says.

 

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Hornstein Residence
Source:  Realtor.org

3 Questions to Ask Before Buying Your Dream Home

3 Questions to Ask Before Buying Your Dream Home | Keeping Current Matters

 

If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market. Ask yourself the following 3 questions to help determine if now is actually a good time for you to buy in today’s market.

1. Why am I buying a home in the first place?

This truly is the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money. For example, a recent survey by Braun showed that over 75% of parents say “their child’s education is an important part of the search for a new home.” This survey supports a study by the Joint Center for Housing Studies at Harvard University which revealed that the four major reasons people buy a home have nothing to do with money. They are:

  • A good place to raise children and for them to get a good education
  • A place where you and your family feel safe
  • More space for you and your family
  • Control of that space

What does owning a home mean to you? What non-financial benefits will you and your family gain from owning a home? The answer to that question should be the biggest reason you decide to purchase or not.

2. Where are home values headed?

According to the latest Home Price Index from CoreLogic, home values are projected to increase by 5.3% over the next 12 months.

What does that mean to you?

Simply put, if you are planning on buying a home that costs $250,000 today, that same home will cost you an additional $13,250 if you wait until next year. Your down payment will need to be higher as well to account for the higher home price.

3. Where are mortgage interest rates headed?

A buyer must be concerned about more than just prices. The ‘long term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates. The Mortgage Bankers Association (MBA), the National Association of Realtors, Fannie Mae and Freddie Mac have all projected that mortgage interest rates will increase over the next twelve months as you can see in the chart below: Mortgage Rate Projections | Keeping Current Matters

Bottom Line

Only you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.

Source:  Keeping Current Matters

6 Ways to Save Money for Your First Home

savings jar filled with coinsFor many first-time home buyers, the idea of a 20% down payment is terrifying. It’s one of the biggest obstacles to homeownership. Maybe you want to own a home someday, but the thought of saving up thousands of dollars for a home purchase has deterred you from seriously considering it.

Believe it or not, it is possible to save enough money for a down payment and make your dreams of homeownership a reality. Here are just a few of the ways that you can start saving.

1. Track How Much You Spend Now

When saving for your first home, you’ll need to stick to a budget. Awareness of how much you spend can help you figure out where you can cut your costs. Consumer.gov outlines a few tips for creating a budget here.

2. Determine What You Can Afford

home buyer tracking financesEven if you don’t plan to buy a home for a few years, figuring out how much you can afford for your home will make your savings goal more concrete. Don’t forget to include taxes, insurance, utilities, and maintenance in your monthly payment calculations.

3. Start Small

Start saving for your down payment and other homeownership costs as soon as you can. The earlier you start, the less you will have to cut your spending and the more time you’ll have to reach your goal.

4. Shop Around for Other Loans

If you find that a 20% down payment is unrealistic, you can opt for a mortgage that offers lower down payment options. FHA loans, for instance, offer 3.5% down, and VA loans offer no money down.

Make sure to do your research. If you put less than 20% down on a home, you will have to purchase private mortgage insurance. We can talk more in depth about home financing options available to you.

home buyer looking at bank account5. Make Your Savings Automatic

Many people find it’s easier to save money if it’s automatically transferred into a savings account every month. Check to see if your bank offers automatic funds transfer services, or ask if your employer can direct a portion of your paycheck into your savings account.

6. Create a Separate Savings Account

Establishing a savings account specifically for your down payment and homeownership costs is another great way to set aside money for a home. If you decide to automatically transfer money to savings, creating a separate account may make it even easier.

We Can Make Your First Home Buying Experience Easier

first-time home buyers moving inWhen you’ve saved up enough money and are ready to buy a home, we have all the resources you need to make your homeownership dreams a reality. Have a question about owning a home? Call us.

5 Things Only Home Sellers Understand

Whether this will be your first time selling a home or your tenth, the home selling process can be a challenge. You want to sell quickly and for the most money, so you will be doing absolutely everything you can to spruce up your home and make it as inviting as possible. But not every experience during the home sale is a struggle. Here are the moments home sellers know too well.

a gathering with friends at home1. The Nostalgia You Feel While Packing

While you’re going through closets and pulling your personal photos off the walls, you may experience some nostalgia. You can vividly remember the day you bought the house. You remember all the guests that have visited. You even remember the stains that you’ve spent time scrubbing out of the carpet.

You have made memories in this home. But don’t forget about all of the new memories you will make in your new home. Whether you’re relocating, upsizing, or downsizing, you will have the opportunity to start fresh.

2. Having to Rush Out the Door for Showings

One of the hardest parts about selling your home is being prepared to leave at any time for showings: during dinner, early in the morning, on weekends… Sometimes, you have just 5 minutes to drop what you’re doing and dart out the door. But when you hear that the buyer has made an offer, you know that all of your scrambling was worth it.

a child with her head in her hands3. The Home Buyer Who Nitpicks Everything

It takes time to clean and declutter the home that you’ve lived in for a while. You remember the dust and dirt you found when you first moved furniture and packed up your closets. You even remember the hours it took to paint your rooms a neutral color. Your home looks brand new and ready for showings, so you can’t help but roll your eyes over the buyer who complains about that one thumbtack hole or the Windex streaks on the window.

4. The Awkwardness of Living in a Partially Empty Home

Everything echoes. It’s impeccably clean. Even the dust bunnies have moved on. With the pictures off the walls, the furniture put in storage, and the walls painted a neutral color, your home looks less like your own and more like a model.

people in front of a house5. Feeling Bittersweet About Leaving Your Home

After all the home sale preparation, last-minute showings, and negotiations, it’s time to say goodbye to your old home and hello to the new one. Yes, there may be things that you will miss about your old home. But there will be also things you can’t wait to have in your new home.

Your Home Sale Doesn’t Have to Be Stressful

We can help make your home sale a pleasant (and profitable) experience. As real estate experts, we offer a variety of helpful home selling resources, from a free home evaluation to low-cost home improvement ideas. When you’re ready to sell your home, call us.

These Small Home Improvements Can Pay Off Big When Selling

First impressions matter when selling a home. But the first thing buyers see isn’t always your staged living room or upgraded kitchen. The price is the first impression buyers have of your home. The price also determines whether buyers skip over your home or go inside for a better look.

using a laptop at homeHome buyers are attuned to the market. When they are searching online for properties and browsing through listing photos, they can easily spot a home that is not worth the price tag attached to it.

The Simplest Ways to Add Value to Your Home

There are many ways to add value to your home, but don’t waste your time and money with major home improvements that won’t pay off. Instead, focus on these small, often overlooked tasks. Even the smallest fixes can significantly increase your home’s market value.

Replace Doorknobs and Other Hardware

Is the front doorknob worn or tarnished? Are your light fixtures outdated? Replacing the hardware in your home, even though it’s just a cosmetic fix, can make a world of difference when you sell your home.

a homeowner painting the wallsPaint the Walls a Neutral Color

A fresh coat of paint can leave your home looking like new. Choosing neutral colors, such as beige or grey, for your walls allows buyers to easily picture their belongings in your home. Lighter tones also create the illusion of more space.

Declutter Your Home

Buyers want to see a home that is organized and well-kept, both in person at showings and online in listing photos. Donate, discard, or store any furniture or household items that are not absolutely necessary in each room. Decluttering your home is the best way to add value, maximize space, and make a great first impression.

Price Your Home Right from the Start

When you’re ready to put your home on the market, create the best first impression with the right price. If you want to sell your home quickly and for the most money possible, we can help you determine the market value of your home. Call us today for a free home evaluation.

What You Haven’t Considered About Owning a Vacation Home

tropical-vacationWouldn’t it be great to own a place at the beach, in the mountains, or by the lake? If you are seriously considering buying a vacation home, you have probably weighed many of the pros and cons already.

But you should carefully consider everything before you buy. Have you taken these additional costs and benefits into account?

The Overlooked Costs of Homeownership

As any experienced home buyer knows, there are additional annual costs that come with owning a home, such as property taxes, home insurance, and any association fees.

Make sure you consider maintenance costs, as well. If you decide to rent out your property, you might want to invest in housekeeping or property management services. MarketWatch outlines a few additional costs you may face.

Additional Fun: Resort-Style Amenities

golf course at sunriseIn popular vacation destinations, you can purchase a second home in a resort community. This gives you access to a range of amenities that can include a golf course, spa services, swimming pool, and dozens of events.

Just remember, you may have to pay additional fees for these amenities.

It’s a Good Investment, But Not a Guaranteed Money Maker

Many vacation homeowners rent their property out to other vacation-goers as a way to earn extra money.

But, as US News & World Report points out, you may not always make money with your vacation home.

Location is Crucial

picking a locationWhen buying any property, whether it’s a primary or second home, location is one of the most important factors in your decision. When choosing a vacation home, consider how much time it will take to get to your home, whether you will need to drive or fly, and if you will be able to visit as often as you want.

You should choose a home that is close to your favorite vacation features (such as a ski resort or private beach) and close to the grocery store, major roads or an airport, and fun things to do.

We Can Help You Weigh Your Options

Investing in a vacation home can be a great decision, but it should not be taken lightly. We can answer any questions you have about finding, buying, or renting out a vacation home. Call us and let’s talk.

Thinking of Selling Your House? Pick the Right Agent!

Thinking of Selling Your House? Pick the Right Agent! | Keeping Current Matters

Today, more and more sellers are stepping back, taking a look at the advice real estate professionals give them, and asking themselves whether they can trust that advice. And that is exactly what they should do.

The most important question you can ask when you are choosing a real estate agent is whether you feel you can trust them. You must know that they’re giving you great advice, and that they’re going to be able to help you accomplish your family’s goals. You must trust your listing agent enough to allow them to:

  • Handle the liquidation of possibly the largest asset your family has
  • Help set the market value of that asset (get the price right)
  • Set the timetable for the liquidation of that asset
  • Set a fair fee for the services required to liquidate that asset

All four of these require a tremendous amount of trust. They’re going to sell your prized possession, set its value, set a time schedule as to when your family will be able to move, and determine the fee that you’re going to pay to get those three things accomplished.

You have to trust your agent enough to allow them to help you and your family reach your dreams.

Whether you’re a grandfather up North looking to move to Florida to spend your later years with your grandkids, or a young person who wants to take that job in San Francisco but first has to get your house sold in Chicago, you need an agent you can trust to help you move on with what’s important.