Articles Tagged "Home selling tips"

Are you looking for a new decor style to use in your home? If you're like many people, you know what you like - and don't like - when you see it, but you may have struggled to tie your home decor into an appealing style. Without a general direction, you can end up with a collection of elements gathered over the years that don't seem to complement each other or create a cohesive look. Whether that's the case or you'd simply like a change from your current style, it may be time for a refreshed look.

Our real estate agents suggest the following tips to help you find the best decor style for your home:

• Look Inside Your Closet
  Check your closet and identify your favorite clothing items and accessories. What do you like to wear when you want to brighten your mood or when you have a special occasion to dress for? Look for some common elements - such as colors, fabrics, and patterns - that you normally find attractive. And take a look at items you avoid wearing and try to figure out why. Consider your general style. Do you prefer bold, flashy looks or more neutral colors and classic styles? Even the types of fabrics you like can serve as inspiration for items like pillows and draperies.
  
  
• Create a Vision Board
  Look through a variety of magazines without limiting yourself to home decor publications. Check out photos of all types, including those representing nature, fashion, jewelry, and more. Use them in a vision board and consider what appeals to you about each image. For example, if you have a photo of leaves, does their color appeal to you? What about their shape or texture? Do they have curved lines or straight lines? Each photo can give you cues about what design elements you find most appealing.
  
  
• Take a Few Online Quizzes
  There's an online quiz on just about every topic, so it should come as no surprise that a large number of websites have quizzes that will help you determine what home decor style you prefer. If you Google "interior design quizzes," you'll find lots of ones to try. Not only are these types of quizzes fun, but they also may surprise you and give you insights into your style preferences that you may not have expected. In addition, you'll be able to get some home design buzzwords - such as "industrial" or "boho" - that you can further research to find specific looks and pieces.
  
  
• Weigh in on the Home Decor Items You Already Have
  Look at your current home decor items with a critical eye. Are there things that you love? Think about what it is about them that appeals to you. On the other hand, identify items that you just don't like. What is it that you find unappealing about them? As an added bonus, this step lets you eliminate some of your home decor items that just aren't working for you since you can sell or donate those things that you dislike. This also gives you the space to bring in more elements that suit your new style.
  
  
• Consider Your Home's Current Atmosphere
  How does your home's current atmosphere feel? Is it warm and homey? Or maybe you have a modern, minimalist vibe going? Are there areas of your home that make you happy and others that make you feel bored or stressed out? Whatever you have, determine the mood it projects and figure out if that's still what you're going for, but with new decor items. Or you may decide you want to change the mood of your space entirely.
  
  
• Give Your Style a Name
  Many, if not most, people have an ideal style that encapsulates elements of several different styles. This often works best since, although specific styles can provide inspiration, you may not like every element of any single style. Fortunately, there's no need to lock yourself into one look and follow its recommendations to the letter. Look at the information you've gathered and any patterns you can identify and come up with a fun description of your style. That way, as you consider different elements to bring into your home, you can ask yourself if they fit in well with your self-named style.
  
  
• Start Small
  Decorating an entire home or even a room can seem overwhelming. Start with a small space in your home, such as a shelf or end table, and gather and arrange some objects that reflect your newly defined style. Live with them for a week or two, and if they're still appealing to you, start spreading the style throughout your room and home. If you find the style less attractive than you'd hoped, redo some of the previous steps to help further define your home decor style.

Contact us if you'd like to see homes for sale so you can have a fresh start in discovering the best decor style. Whether you're looking for a home to buy, are ready to sell your home, or both, we're ready to help! 

If you're in the process of listing your home for sale, you've almost certainly begun staging the indoors to attract potential buyers. Have you done the same for the outdoors? 

Outdoor spaces are just as important to many buyers as the home itself. For some, they're the most important feature of any property. Staging your outdoor spaces properly can massively enhance your home's appeal and potentially raise its total value. Our real estate agents have decades of combined experience with the art of staging, including in outdoor contexts. Here are eight suggestions from them to help you make your yard and gardens look their best. 

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If you're a home décor enthusiast, you may be wondering how to handle decorating your laundry room. How can you make such a functional space look its best without making it difficult to use?  

Our real estate agents have seen some gorgeous laundry rooms over the years. In that time, they've observed several trends in how homeowners choose to dress up this space. Take inspiration from these 7 tips to transform your laundry room from basic to beautiful.  

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You've been dreaming of homeownership, have spent years preparing financially, and spent months searching for the perfect home. You finally found it, negotiated a price, and signed a purchase and sale agreement with the seller. Now, the seller wants to call things off—years of dreaming, months of planning, and piles of paperwork, all for nothing.

It doesn't often happen; however, it can be heartbreaking when it does! Why would a real estate seller have a sudden change of mind, and do you have any legal recourse?

In this post, we'll examine some of the reasons a seller might back out of a Purchase and Sale Agreement, the impact of a seller backing out of the deal, and what recourse you might have.

First, Take a Breath and Consider the Situation

Before you run out and lawyer up, take a breath and consider the situation on a human level. If your finances are in order, you've been upfront and interested in moving forward emotions, or a situational change may be behind the seller's change of heart.

Try to determine the seller's reason for putting their home on the market. For example, if the sellers were planning to move into a senior facility because one of them was seriously ill. But they made a miraculous recovery; there is little you can say to convince them to sell.

However, sometimes the seller just doesn't trust you to make good on the deal and has second thoughts. Maybe they have a reason to believe you can't make the down payment or get a mortgage approval, and they don't want to take their home off a hot market for long enough to find out. In this case, sit down and provide whatever evidence you need to allay their fears.

Another common situation is that the home is historically or personally significant emotionally (maybe it has been in the family for generations). The seller is concerned that you properly care for the home. Sit down with the seller and explain that you will honor the home's historical significance. Explain your plan to enhance the historical significance of the dwelling.

Sometimes, the seller got a better offer and decided they'd rather sell to that person. Yes, it's unethical, but it happens. Your legal solutions depend on where you are in the process.

Six Ways A Seller Can Walk Away From A P&S Agreement

If you have a verbal agreement, or the details in the purchase and sale are not met, a seller can walk away at any point. The P&S has legal value and backing out can be complicated. It's something most sellers and buyers want to avoid. Here are six examples of when a seller can walk away before closing:

1. The contract has not been signed.
2. A Standard contract provides for a 5-day attorney review period which provides a window for the seller, or buyer, to cancel.
3. The seller has planted a contingency in the P&S, like a clause stipulating that they must find a replacement home before moving out.
4. If the buyer doesn't stick to the terms of the agreement.
5. If a buyer pushes the seller to do repair work that he is unwilling to do.
6. Any unfortunate incident which turns their life around – like a seller getting sick.

If the deal is not finalized, it's easy for either party to back out. However, once a purchase and sale agreement are signed, backing out can have consequences for the seller.

The Consequences of Backing Out of a Signed Purchase and Sale

There are affects a seller faces when they back out without cause. They open themselves up to both legal and financial consequences.

A seller is subject to legal consequences if they back out of a deal after both parties sign a contract. The ball is in the buyer's court. They have a choice. They can sue to move forward with the transaction or withdraw their offer. Agents may also sue for breach of contract as they are at financial risk of losing their commission.

As a buyer, you have the option of suing for breach of contract. Judges often order the seller to sign over the deed and complete the sale. You can also sue for damages, but most buyers choose to sue for the property.

The seller is also subject to some serious financial consequences. The judge may allow the seller to keep the property, however, the seller will need to adjust the expenses incurred by the buyer during the entire period of house showing and legal work. They must also return any security deposit. The seller often also must pay the buyer's legal fees, along with their own, which could be a harsh penalty.

Create A Comprehensive Purchase and Sale Agreement

The purchase and sale is the contract that bears the details. A well-written purchase and sale contain clauses in clear language as to when a buyer or seller can back out of a sale without legal consequences.

One of the most frequently asked questions is if a seller can back out should they get a better offer from another potential buyer. A purchase and sale agreement protects you. Once an offer has been accepted and a contract signed, a seller can no longer accept another offer. That being said, it could happen, but the truth is that buyers often have more to lose, along with disappointment if a sale falls short because of a seller.

The purchase and sale agreement provides protection to both parties. Few legal options can provide an escape without penalties both legal and financial. A well-written and negotiated purchase and sale can certainly reduce the chances to back out of an agreement.

The Tell-Tale Signs It's Time to Sell Your Home

The past few years have been one of the hottest real estate markets in recent memory! While it might seem like the perfect time to sell a home, the fact is, selling your home is a big deal. Whether it's your first time selling or the fifth, a lot goes into listing and selling your home.

Selling a home is a major life choice that involves your most valuable asset. Knowing when to sell to maximize your return is a bit of an art. Unlike buying or selling stocks or bonds, your home carries a lot of emotional baggage. It's about much more than buying low and selling high.

Knowing that you are ready to sell is about more than waking up and making a decision. It's never going to be the perfect time to sell and move on. Deciding to sell isn't a market-driven issue, it is a lifestyle choice. However, there are several ways to recognize if it is a good decision for you, your family, and your financial health.

In this post, we will identify some signs that it might be a good time to sell, regardless of market conditions.

Before You Start The Process

While there are signs that it might be a good time to sell, the fact is most of us are emotionally connected to our homes. To know if it is the right time to sell, you should first consider the answers to these questions:

Do you have a plan?

Having a plan in place is crucial. You will want to consider several potential outcomes and what-if scenarios to be prepared. Including having a post-sale plan. If you are selling, you are probably also buying so the economics need to make sense. Are some what-ifs to consider:

• What if you can't find a buyer?

Have a plan so, for example, if you can't find a buyer, you'll either need to find a new realtor or decide to rent your home out.

• What if the inspection comes back with issues?

Are you prepared for a home inspection? It may make sense to have your home inspected before a buyer makes an offer and you go under contract. Taking a proactive approach can give you extra ammunition before negotiations begin.

• You have a decent offer on the first day. What do you do?

Having a plan can help you decide if it's the right offer. Maybe you want to wait a day or two before responding. A good realtor will determine the fair market value and can help you handle this situation.

• What if you have multiple offers?

Having multiple offers is a good thing that can go bad if not handled properly. First, make sure that everyone understands that there are multiple offers. Then set a time deadline for all best and final offers. Focus on communication, or it may come back to hurt you. A good agent will not only generate great offers but will also follow through.

Have You Studied Your Local Real Estate Market?

All real estate is local. When selling your home, knowledge is your best friend! Study your local market to understand the climate. Look at similar properties, how long they were on the market, and the prices realized. Understanding local market conditions can help you to make an informed decision.

Consider these five factors:

1. Homes that have sold
2. Prices realized
3. days on the market
4. Local trends
5. Interest rates.

This information will help you determine if it's the right time to sell. Once you've looked at the factors outside of your control, it's time to look at the factors you control.

Are You Financially Ready to Sell?

If you have owned your home for a while, you probably have equity built up. Maybe you were a first-time buyer, and you're ready to upgrade, or maybe, an empty nester looking to downsize.

Having a handle on your finances will help you understand if it's the right time to sell. It also helps to have a post-sale plan for what's next. Knowing your net will help you understand what you can afford. Talk to your realtor and ask them for a home seller net sheet. This can help you understand the financial impact of selling.

Are You Ready For a Change?

A change of scenery can be a good thing. There are many reasons you may want or need to change location. Maybe you've outgrown your current place or need to relocate for a new job opportunity. People in the United States move on average every five to seven years for many different reasons.

If you're simply looking for a change of scenery, make sure you're committed to the change before listing your home. If you're on the fence, it's probably not the best time to sell. Sometimes, you have no choice, for example, relocating for work. If this is the case, make sure you have a plan, are financially ready, and are not emotionally attached to your home or neighborhood.

Are You Emotionally Ready to Sell?

It can be tough dealing with an emotionally invested seller. While you don't have to remove the sentimental value to sell, just don't allow it to influence your decision-making process. If you can't control your emotions, it might not be the best idea to sell.

Before beginning the sales process, you must be 100% committed to your decision. Once you close, there's no turning back. Your home is no longer yours it belongs to someone else. Make sure you can handle that and are ready to move on to another chapter in your life. Most importantly, be open and upfront with your realtor!

Has Your Family Outgrown Your Current Home?

Outgrowing your home is common for first-time homebuyers or young families. This can be the perfect time to sell and find a new place with more room to grow. However, outgrowing your home doesn't necessarily mean it's the right time to sell. Have a post-sale plan, and make sure you are financially ready to transition to a new bigger house.

Some Final Thoughts...

A lot goes into reaching the decision to sell your family home. You want to make sure you have the time, knowledge, finances, and a plan of attack. If you're not 100% committed or worried that it might not be the right time to sell, you're probably right.

You'll know when it's time. Consult with a local real estate expert who can help. They will tell explain all of your options. Speak with several professionals before choosing the right person to work with.

There are a lot of realtors in the world, and they are not all the same! Ask them about their marketing, understand their selling process, and ask them how they will generate buyer leads for your property.

Selling a home requires you to work with a realtor that you trust. The goal should be to get the most money for your home and set the stage so that buyers who view your property will fall in love. While you remain emotionally detached when selling a home, your goal is to create an environment that buyers can envision living in.

Paint your home with neutral colors, remove personal items, and declutter to create more room in your home for buyers to visualize. Here are some additional tips to help make the process go smoothly:

• Settle any financial obligations

• Declutter

• Deep clean

• De-personalize

• Talk with a lender

Chatting with a lender can help you know whether or not you'll be able to secure a new mortgage as well as where your credit score stands.

Selling your home is a highly personal decision. The better prepared you are, and the more questions you've answered, the easier it will be to make the decision to sell. If you're still unsure, talk to a local realtor to better understand the trends in the local market and all of your options!

https://www.rochesterrealestateblog.com/6-ways-to-know-its-the-right-time-to-sell-your-home/ 

https://www.businessinsider.com/signs-you-should-sell-your-home-2019-7 

Whether you work from home full-time or sporadically, it's important to have a home office where you can be productive

Our real estate agents know that a home office that's functional and appealing optimizes your workflow and encourages creativity.

After working from home for a while, has your home office started to feel stale? Refresh your workspace by following these tips.

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Our real estate agents want to make the whole home selling process easier for you. In many cases, that starts by giving you a firm idea of exactly what you can expect. While selling will always have its ups and downs, it becomes much easier when you understand how it all fits together.

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You've just moved into your new home. Now you need to decorate it and make it your own. You don't need a lot of fancy trinkets and expensive doodads. All you really need to make your house a home is a few mason jars. With National Mason Jar Day coming up on November 30th, let's look at some of the many fun things you can do with these durable, beautiful, and versatile jars.

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If you're planning to buy or sell a home, then you should be prepared to receive loads of advice from family, friends, and neighbors. When it comes to real estate transactions, everyone has their own unique perspective. While advice can be helpful and well-intentioned, it's important to weigh the advice based on experience. The average person is involved in a real estate transaction once every 5 to 7 years while the average Masiello agent manages 11 transactions every year. These uneven experiences have given rise to numerous industry myths.

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What Is A Section 1031 Exchange, And How Does It Affect Tax Liabilities

Real estate has always been a great way to build wealth. When you buy a property by putting a relatively small amount of money down and obtaining a mortgage, you're leveraging your investment; in other words, you're getting an asset worth significantly more than the money you've invested as a down payment. 

If your home increases in value, you build equity based on the total price of the asset. Another significant benefit of real estate is the tax breaks. When you live in the home, the interest you pay on your mortgage is tax-deductible if you itemize your return. Thanks to the Taxpayer Relief Act of 1997, another tax break comes in reduced capital gains taxes. For example, when you sell your home, the first $250,000 gains are free from capital gains taxes ($500,000 for married couples). These tax advantages make owning a home a wise investment for many of us and allow us to build wealth relatively tax-free when investing in a residence.

If you're a commercial real estate investor, there is another rule you can also use to defer capital gains on your investment property to build wealth. It's called the 1031 Exchange Rule, and it has many moving parts. Real estate investors must understand the law before attempting to use it, and it can be complicated to follow. An exchange can only be made with like-kind properties. In addition, there are tax implications and time frames that must be strictly followed, or it may be problematic. 

If you're considering using a 1031 Exchange or want to learn more, we're going to help you gain an understanding of this investment benefit in this post.

What Exactly is a Section 1031 Exchange

In simple terms, a 1031 exchange (also known as a like-kind exchange) is a swap of one investment property for another. Although most swaps are taxable as sales, if you meet the requirements of 1031, you'll pay no tax or a limited tax due at the time of the exchange.

In effect, you are changing the "form" of your investment in the eyes of the IRS without cashing out or recognizing a capital gain. This allows you to grow your investment tax-deferred. Because there are no limits as to how many times or how frequently you can use 1031, you can continue to roll your capital gains from one investment property to another, and another, and another.

Even though you may be profiting from each swap, you avoid paying any taxes until you finally cash out many years (or even decades) later. If it works as planned, you'll pay a single tax at the current long-term capital gains rate (currently 15 or 20% depending on your income).

Most exchanges must meet the criteria known as "like-kind." However, this phrase doesn't necessarily mean what the name implies. For example, you can exchange an apartment building for raw land or a ranch for a strip mall. The rules are surprisingly liberal. You can also exchange one business for another. However, there are "traps" of which you need to be aware.

The 1031 rules are for investment and business property, although they can apply for a former primary residence under certain conditions. It's also possible to use the 1031 Exchange for swapping a vacation home, but this loophole has been made much narrower in recent years.

When You Might Want a 1031 Exchange

As a real estate investor, there are several reasons that you may consider using a 1031 exchange. These include:

• You're looking for a property with better prospects for an ROI, or you might want to diversify your assets.
• If you own investment real estate, you might be looking for a managed property rather than managing it yourself.
• You may want to consolidate your holding for estate planning purposes, for example, dividing a single property into several assets.
• To reset the depreciation clock (more below.)

The main benefit of a 1031 exchange over simply selling one property and buying another is the tax deferral. By deferring capital gains taxes using a 1031 exchange, you're freeing more capital for investment in a replacement property.

Bear in mind that 1031 might require a higher minimum investment and a longer holding time. 1031exchange transactions can be complex and should be handled by professionals.

Understanding Depreciation and Why It's Important

It's essential to understand the concept of depreciation to gain a proper understanding of the benefits of a 1031 exchange.

Depreciation is the percentage of the cost of an investment property written off every year, recognizing the effects of wear and tear. When you sell a property, capital gains taxes are calculated based on the property's net-adjusted basis, which combines the property's original purchase price plus capital improvements, minus depreciation. 

If your property sells for more than its depreciated value, you may need to "recapture" the depreciation. That means the amount of depreciation is included as taxable income when you sell.

Since the size of depreciation increases with time, you might want to consider a 1031 exchange to avoid the significant increase in taxable income that recapture would cause. Depreciation recapture is a factor to account for when considering a 1031 exchange.

The Replacement Property: Timing and Rules

The classic exchange involves a simple swap of one property for another between two people. However, it's long odds to find someone with the exact property you want, who wants the exact property you have. As a result, the majority of exchanges are delayed, three-party exchanges.

In a delayed exchange, you need a qualified intermediary or middleman. He or she will hold the cash after you sell your property and then uses it to purchase the replacement property for you. This is a three-party exchange that is classified and treated as a swap. Here are two essential timing rules you need to follow in a delayed exchange.

The 45-day Rule

This rule relates to the designation of a replacement property. Once a sale occurs, the intermediary receives the cash. Within 45 days of the sale, you must designate the replacement property in writing to the intermediary, specifying the property you wish to acquire. The IRS rule states that you can select three properties as long as you eventually close on one of them. 

The 180-day Rule

The second timing rule you need to be aware of in a delayed exchange relates to closing the replacement property. You must close on the new property within 180 days of the sale of your original property.

One crucial fact to be aware of is that these periods run concurrently. That means the clock starts when you close on the sale of your original property. For example, if you designate a replacement property exactly 45 days after you close, you'll have just 135 days left to close on the replacement.

Tax Implications

While there are plenty of benefits to 1031 exchanges, it's essential to understand potential pitfalls if the transaction isn't handled correctly. For example, you may have cash left over after your intermediary acquires the replacement property. If so, they will pay it to you at the end of the 180 days. This cash is known as "boot," will be taxed as the partial sales proceeds from the sale of your property, typically as a capital gain. 

One way people can get into trouble with this type of transaction is by failing to consider loans. You must consider any mortgage loans or other debts on the replacement property. If you don't receive cash back, but your liability is reduced, that is treated as income to you – just like cash. 

For example, if you were carrying a mortgage of $1 million on your old property, but the mortgage on the replacement property you receive in the exchange is only $900,000, you will have a $100,000 gain. This is classified as "boot," and it will be taxed.

The Bottom Line...

While we've just touched on the highlights of 1031 exchanges, the fact is, 1031 is an intelligent tax-deferral strategy that real estate investors can use to build real wealth. The bottom line is that while using a 1031exchange strategy is a savvy business move, there are many complex moving parts that not only require you to understand the rules. It is important to enlist professional help, even if you're a seasoned real estate investor. 

Planning to Sell Your Home? Be Aware of the Cost to Sell a House

Selling your home is both time-consuming and expensive, often more than a homeowner might expect. It's easy to get excited when you look at the latest Zestimate and seeing how much more your home is worth than when you bought it. However, if you're considering selling your home, you need to factor the cost to sell a house into your calculations. 

It's important to factor in and be prepared for the hidden and sometimes overlooked cost to sell a house. Some expenses are negotiable, but sellers need to expect to pay the costs of selling their homes. Today we're living through one of the biggest seller's markets in our lifetimes, on average in a typical market, homeowners will spend seven months planning and preparing to sell their home, and three additional months with their home listed, pending, and closing. 

What follows is a breakdown of what a homeowner can expect when determining the cost to sell a house.

The Cost of Selling a House: The Common Expenses

Some expenses are common, and you can expect to pay them when selling a house. Some costs may be hidden or not commonly considered. 

The typical cost to sell a house includes:

• Agent Commissions- The seller's agent typically charges 5 to 6% of the home's purchase price when the deal is completed. This is likely the highest cost you'll pay, aside from paying off your mortgage. When shopping for an agent, ask them about their commission fee. Some may be willing to negotiate their rates. Make sure you get any agreement in writing. The seller's agent may split their commission with a buyer's agent, but this does not affect you.
• Taxes and Neighborhood Fees -You'll owe a prorated share of your property taxes when you sell. This amount might be close to zero if you've recently paid your taxes or several thousand dollars if the due date is coming up. In some states, you may also be charged a local transfer tax. This is a fee the seller pays to transfer the title to another person. Depending on the location this tax is typically .01% to 2% of the final sale price.  If you profit more than $250,000 ($500,000 if married) you may also be liable for capital gains taxes unless you can use a 1031 Exchange. You may also be liable to pay a prorated membership fee if your neighborhood has a homeowners association and possibly an HOA transfer fee.
• Title Insurance for the Buyer - This is protection for the buyer in case there is an issue with the home's ownership. Buyers may also purchase a title policy if they apply for a mortgage, but this policy protects only the lender. In some areas, the seller pays for a separate policy for the new homeowner. The average cost is around $1000.
• The Mortgage Payoff - Unless you own your home outright when you sell you'll need to pay off your lender. The payoff amount may be different from the balance due listed on your last mortgage statement because of interest charges. You'll want to know the exact payoff amount. If your mortgage has a prepayment penalty, that will be added to the amount due.
• Home Repairs - Your buyer will most likely order a home inspection before closing. If the inspection finds any issues, you may be asked to pay for any repairs.
• Moving Costs - Whether you buy and pack your own boxes and rent a truck or hire a moving company, you'll want to budget for your move after the sale is closed.

The Cost of Selling A House: The Optional Costs

Depending on how competitive your local market is, it may make sense to pay for extra services to attract more potential buyers. Many of these are optional, but they can help alert you to potential problems and help make your home stand out from others in the market.

• Pre-Sale Home Inspection - This one is strictly optional, and it can cost you around $400 or more, but it can be worth it. Some sellers choose to make this investment to find any significant structural or mechanical problems before a potential buyer does.  Getting a pre-sale inspection allows you to make major repairs ahead of time. This removes the possibility of a buyer demanding them or using them as a negotiating tool to lower the price. Discuss this with your real estate agent. Remember, if the inspection reveals material defects, you'll need to repair or possibly disclose them, depending on your state's disclosure rules.
• Home Staging - It's always a smart move to remove clutter and give your home a good deep clean before listing. Your agent may suggest going a step further and hire a home stager to make your home more appealing. A stager may re-arrange your existing furniture, change your interior design and replace old worn furniture. The typical cost is $500 to $2000.
• Buyer's Closing Costs - Buyers are typically responsible for mortgage fees, home inspections, and appraisal expenses, which can often add up to be 2% to 5% of the final selling price. If you're in a slow market, or your buyer is on the fence, you can offer to pay some of these closing costs to help seal the deal.

Selling your home can be challenging and exhilarating at the same time. In today's super hot seller's market, it can also be lucrative. If you are planning or considering selling your home, make sure you factor both the typical and potential cost of selling a house into your plan. A REALTOR® can help you to better understand the exact cost of selling your home.

If you're considering selling your home, contact the REALTORS® at Masiello Residential Real Estate. We can help you get the best price for your New England home, can assist you to find the perfect new home to meet your needs, and understand the true cost of selling your home.

How To Lower Your Costs and Maximize Your Profits When Selling Your House

When selling your house, a primary goal is to make as much money as possible from the sale. Your profits can be rolled into a new house or used to fund another investment; either way, it's worth making an effort to maximize the profit from that final check! 

Making the interior and exterior more appealing, staging, upgrading your home's operating systems, and lowering your costs, are things you can do to make the most profit when selling your house.

Here are some actionable tips to maximize your profits and lower your costs when selling your house!

Eight Tips to Get The Most Profit From Selling Your Home 

Selling your home isn't always a straightforward endeavor. Sometimes for your sale to be a success, you need to take some simple steps and think outside of the box to create demand in creative ways. Here are some common ways to make your home stand out to get the most profit when selling your house.

1. Research and Understand Your Local Market

Read your local papers, and consult with a local Realtor® to help you navigate the ever-changing real estate market in your community. Finding the right Realtor can help you understand the complexities of your market. 

2. Improve Your Home's Curb Appeal

First impressions are crucial in real estate. They can leave an indelible mark on prospective buyers. Making significant improvements like replacing worn vinyl siding or installing a new door can boost your home's curb appeal and add to your home's value. 

If costly repairs are outside of your budget, simple improvements can make a difference. Ensure the hedges and trees are trimmed, give exterior accents some fresh paint, and pressure wash the driveway to clean up your home's look for prospective buyers.

3. Landscaping

A well-landscaped lawn and a clean patio with comfortable garden furniture is a relatively inexpensive improvement that will add to your home's appeal and up your asking price. 

4. Upgrades to Kitchens and Bathrooms

The kitchen and bathrooms are the most used rooms in the house. They are also the rooms that can help sway buyers when selling your house. Even minor remodeling and upgrades to countertops, cabinets, fixtures, or hardware can make these rooms look new. Upgrading appliances can also increase the value of your home and up its resale price. 

5. Clear The Clutter

You always want to present your home in its best light. Before you begin showing your home, remove all clutter and clean and organize your rooms. A clean, well-organized space gives a good impression and can make your home look more substantial. Wipe down baseboards, cabinets, and vents to clean the home of dust and dirt.

6. Upgrade With Smart Home Technology

Advances in Smart Home Tech have made automation and remote-controlled home systems standards in new homes. Smart thermostats, blinds, locks, and safety systems save money, add security, and up your home's saleability. Younger buyers expect this type of technology that can be run and monitored from their smartphones and tablets. 

7. Price Your Home Accurately

Avoid going too high with your initial asking price in the hopes of getting more than it's worth. Even in a seller's market like today, pricing your home above the fair market price can cause your property to stay on the market much longer. Many professionals recommend pricing your home slightly below market value. This can attract more attention, and multiple offers giving you more negotiating power.

8. Take Advantage of Digital Marketing

We live in a digital world, and we rely on the Internet for everything today. Take advantage of online marketing opportunities in the real estate industry. Investing in professional photography or a video can up your home's appeal and generate more interest in your property.

Part Two: Reducing The Costs of Selling Your House

The secret to maximizing your profit when selling your home comes in two parts. The first half is taking the steps listed above to prepare your home for sale by putting it in the most presentable condition that you can. Part two of the equation is controlling the costs of selling. 

The first step to controlling costs is to start by understanding where the costs come When you know that, you can then put together a strategy for lowering them. Costs can vary depending on several factors, but in general, you can count on these costs at the time of your sale:

• Repairs and Staging – Chances are you'll need to do some repairs (beyond those listed above) before you can sell. There are plenty of little issues homeowners put up with that a buyer will not want to deal with. You may need to stage your property for showings, and that can involve anything from painting walls or patching holes to renting furniture and putting yours in storage.
• Agents Fees – Your agent is going to take 6% of your sales price. Often there are two agents involved in the sale – the seller's agent and the buyer's) and they will each take 3% as a commission. While it might not seem like much, 6% can be painful at the time of closing.
• Other Closing Costs and Fees – The buyer typically picks the closing company, which means the seller is at the mercy of the closing company for fees. These can include paperwork processing fees, titling fees, and other line items that can add up. Speak with your broker about their fees and what you can expect at closing.

There are some steps you can take to minimize your costs, like:

Use a Flat-Rate Broker

Agent's fees are one of the substantial expenses you'll face when selling your house. They will be taking between 3 and 6% of the sales price, and that's a considerable sum. One option is to look for a flat fee real estate broker. Some companies will provide the services of a traditional agent, but at a flat rate so you can know exactly what you'll pay.

Do Repairs Yourself

Repairs and staging costs can add up quickly. One way to combat these costs is to do the work yourself. You can save thousands by doing any repairs yourself before putting your home on the market. Things like interior painting, cleaning, and minor repairs can be done on your own. 

Negotiate Fees

Many companies present their fees as non-negotiable, but that's rarely the case. Whatever fees you get presented, whether from the closing company, your agent, your lawyer, or the plumber who's doing repair work, don't be afraid to negotiate. 

Understand Your Tax Benefits

Another area that can eat into your profits is your tax responsibilities. Circumstances may vary depending on what you plan to do with the money from your sale. For example, if you use it to purchase another home, you'll face a smaller tax bill. There are several ways to lower your tax liability,  like taking deductions for things like advertising, closing costs, and even your agent's fees. Speak with an accountant to determine what you may be entitled to.

Selling your home can be stressful, challenging, and confusing. With a little work upfront, and with the help and advice of a REALTOR®, you can take proactive steps to minimize your costs, maximize your profits, and make the process run much more smoothly. 

Learn the Pros and Cons of a Rent-Back Agreement When Selling or Buying a New Home

If you're buying a new home while selling your current one, it's a good idea to get familiar with something called a rent-back agreement. Timing-wise it can require some good luck to get it right if your home sells before you've closed on your new one or even found a place. Without a rent-back agreement, your choices are couch-surfing or paying to stay in a hotel. Either way, you'll have to move twice... and no one wants to do that!

A rent-back agreement gives you, as the seller, a third choice. With a signed rent-back agreement, you will have extra time to live in the home after closing. It essentially gives you the right to become the new buyer's temporary tenants. Most don't last long – there are typically time limits built into the agreement – but it gives sellers a chance to close on their new home, pack up, and arrange for the big move.

For the buyer, offering a rent-back agreement can also provide a couple of serious benefits. For example, in a competitive market, an offer that's flexible on move-out dates can give you, as the buyer, an edge. Plus, the rent the seller will pay can help you recoup those hefty closing costs. 

When it's done right, a rent-back agreement can be a win-win for everyone.That being said, there are a few considerations before you jump in the pool!

What Exactly is a Rent-Back Agreement?

A rent-back agreement is a legally binding agreement made in writing between the seller and the buyer with terms much like a leasing agreement between a landlord and a tenant. However, some issues can get a little tricky, so it's crucial to understand how one works.

Essentially, the seller becomes a tenant in their old home, and the buyer becomes a landlord for the home they are about to possess, possibly with no experience.

The typical rent-back agreement covers the basics in a few areas:

• Terms and Possession

Before closing, all of the details of a rent-back agreement need to be worked out, including how the rent will be paid, what it will cost, and when the seller/tenant will move out. As a buyer, you just can't assume that the seller will agree to anything or behave as you expect just because you bought their home. The rent-back agreement needs to be written up with the same care as the purchase contract. While it is not common, you should make sure you understand the eviction laws where you purchased, just in case the seller decides they're going to stay as long as they can.

• Rent, Security Deposit, and Late Fees

Like any rental agreement, the buyer/landlord can collect a refundable security deposit. Both buyer and seller need to agree to fair market rent. At closing, the buyer pays closing costs, and the seller pays a security deposit and upfront rent. After the close, the buyer gets the keys, and the seller stays in the home. 

• Utilities

The agreement needs to specify which party is responsible for utilities. Usually, sellers will have the utilities switched to the new buyer at the close. However, in a rent-back agreement, it may be in the buyer's best interest to have the seller keep the utilities in their name and continue to pay them.

• Entry Rights

Make sure to cover the right to enter is in the rent-back agreement. If the buyer wants to begin painting or making any changes to the home while the seller is still living there, they will need to give proper notice, typically 24-hours, before entering the home.

• Maintenance

The agreement should also cove who is responsible for maintaining the interior and exterior of the home. Maybe the seller will continue doing the yard work, but if the stove or refrigerator stops working, the seller will call the landlord to get a new one. Specify maintenance to make sure there is an understanding for handling any unforeseen circumstances.

• Insurance

The new owner will have to have insurance coverage as per the lender's requirement – and because they are the new owner. However, the owner's insurance won't cover the tenant's possessions, so your agreement will need to include terms for the tenant to carry renter's insurance. As the buyer, include the right to ask for proof of insurance.

• Inspections

The new owner should walk through the property before the close to note its condition. Take photos to document. Do another walk-through upon taking possession at the end of the seller's rental term to determine any damages that may require compensation which can be taken from the security deposit.

The Pros and Cons of a Rent-Back Agreement

There are positives and negatives both for the buyer and the seller with a rent-back agreement. Here are a few to consider:

For the Seller:

A seller might want to consider a rent-back agreement if there is a significant gap between closing on the sale of their home and the purchase of their new home. In a tight market, getting some additional time to find your dream home can be a lifesaver. While a rent-back agreement is typically short-term – 30 to 60 days, that extra time can often make a big difference. On the downside, while you're still in the property, you need to remember that it isn't yours anymore. Technically, you now have a landlord. That means if you cause any damages, are late with the rent, or vacating the property, you may be liable and held financially responsible. 

For the Buyer:

If you're not in a hurry to move in, a rent-back agreement can be a factor in landing you your dream home. It is a way to make your offer stronger and stand out to the seller. However, there are some factors to consider since you are now technically a landlord. This means that you may be responsible for any repairs, for example, replacing a broken water heater or fixing a broken stove. And you may need to make the repairs immediately. You also need to be concerned that the sellers will move out on time. They rarely drag their feet, but it does happen. If it does, you may need to go through the legal process of having them evicted.

The Bottom Line...

All that being said, when properly and thoughtfully executed, a rent-back agreement can be a win-win situation for both the buyer and seller. Your REALTOR® and attorney can help guide you to create a proper rent-back agreement that is fair and beneficial to both parties. Just make cover all the bases and make sure that the terms of the agreement are very specifically spelled out. 

If you treat this situation like you would any other business relationship you should be ok. Buyers should never let sellers retain possession of the home without a formal occupancy agreement. A well-written agreement will protect both the buyer and the seller. 

Just Because It's A Seller's Market Doesn't Make It The Right Time To Sell

Before COVID, the housing market was robust as low interest rates and limited supply combined to make it a competitive market. Today, after spending 24 hours a day at home for the better part of a year, many renters have jumped into the market looking to buy, and many existing homeowners have decided they need additional square footage. 

When you add limited inventory and historically low interest rates into the mix, we've entered the hottest seller's market in recent memory, with no end in sight. The Federal Home Mortgage Corporation currently, there are 3.8 million fewer homes than needed in the US.

So that means it must be the perfect time to sell, right? Not necessarily. Believe it or not, it actually might not be the best time to sell your home. 

In this post, we will look at the reasons why a seller's market might not be the best time to sell. We will start by asking and answering a few key questions.

If You Sell, Where Will You Go?

Sure it is a hot seller's market in New England, but the market is hot EVERYWHERE! So if you sell, where will you go? If you do not have a second home or are not relocating for work, are you willing to go through the hassle of finding a place, putting your possessions into storage, and moving into a new situation? 

Some sellers are building rent-back agreements into their marketing – sometimes up to a year after closing. This arrangement can work for some buyers, for example, if they are looking for an investment property to write off of their taxes and have no immediate need to take occupancy. But how many buyers will fit into that mold? Most buyers want to move in immediately, especially if they have been renting.

When You Sell, What Will You Buy?

If you do sell and do not want to rent, you will need to buy another home... in the hottest seller's market in recent memory. Good luck! Depending on what you are planning to buy, it may not be the best time to sell after all. 

On the one hand, it is great to be a seller in this market. However, when you sell you then become a buyer and may find yourself in a tough spot if you can't find what you are looking for. It depends on where you are planning to go and what you plan to buy. 

You need somewhere where your dollar will go farther. Will that be the same market in a different part of the area or the suburbs versus the city? You need to do your due diligence and think through the entire prospect. If you end up moving to another location with an inventory shortage, you could end up overpaying, or worse, may not find anything. 

What About Custom Build – When and How Much Will it Cost?

Some people who cannot find a replacement home may consider building one. But right now, thanks to the pandemic, lumber prices are skyrocketing! The National Association of Home Builders reported that the cost of building a home v increased an average of $35,872, putting custom builds out of the reach of many. Lumber is up 300% over last year, there is a concrete shortage, and builders are in high demand and booked for months in some areas so you may have a bit of a wait!

Even Though It Is A Seller's Market, Can You Get the Best Price?

Even in a seller's market, you should do your due diligence. Find out what neighboring homes and comparables are selling for before you place your home on the market. Are people in your area getting a premium, and if so how does it compare to when you purchased your home? If you wait, you might be able to get even more if you are willing to hold on to it.

Do not skimp on the updates. Presentation is the key to getting the maximum value. Have you done smaller improvements or updates recently? If you don't have someone already booked, it might be challenging because everyone else is updating before selling. Contractors are in high demand.

Even in a seller's market, (or especially in a seller's market), your home still needs to look its best to attain the highest price. You do not want to leave money on the table because you did not fix the kitchen cabinet door. Put a fresh coat of neutral paint, freshen up the bathroom grout, and take care of any details that give your home a "lived-in" look or make it look like it needs work.

A Different Approach – Turn Your Home into an Investment Property

Before you rush out and put your home on the market, consider taking a slightly different approach. Explore the possibility of turning the home you are moving out of into an investment property, and you may see significant benefits.

Low interest rates coupled with double-bottom-line financial benefits you will get from rent payments and appreciation make an investment property an attractive choice. It may make more sense to hold onto your home for a while longer. Consider these three factors driving this market: interest rates, housing supply, and housing demand.

1. Interest Rates

Mortgage interest rates remain near all-time lows, which essentially allows buyers to purchase more homes for the same payment. Rates will likely tick up in the coming years, but no one anticipates a surge. The Fed has said as much

2. Housing Supply

Inventory is at half the level of a year ago. If supply does increase, it will likely take months to be meaningful. Building materials are up as much as 300% over last year, and so are builder's prices. It is unlikely we will see major inventory increases soon.

3. Housing Demand

In terms of demand, there are signals it is pent-up based on the number of homes entering bidding wars that drive prices even higher. When the neighbor's house enters a bidding war, the value of your house goes up as well.

With these three factors being in play, home prices will logically continue to rise. If you sell now, you will almost certainly lose out on the appreciation in value you would see if you hold on to your home.

The good thing about real estate is unlike stocks that change in value day-to-day, real estate values and market shifts generally take months or years to play out. To know when it is time to sell, watch inventory. As inventories fall, prices go up, like today's market. When inventory stops falling or holds steady near a multi-year low, that will be a signal that it is time to sell. Even for a few months beyond the change.

Whatever You Choose, Work With A Real Estate Professional

Whatever you decide to do, whether it is selling into this market or converting your current home into an investment property and renting it out, the best course of action is to work with a professional real estate agent or REALTOR®. They can help you make sense of your options. A REALTOR® can help you market your home to get the maximum return or work with you to find a renter. Then, when it makes sense, they can help you prepare and list your home for maximum return!

Your real estate professional understands the local market and can help you to navigate through the current complexities of this seller's market. If you are looking to maximize your home's value, talk to your local REALTOR®!

Learn the Advantages of an Accurate Real Estate Estimate and How to Get One

If you are considering the sale of your home, knowing your home's value is essential for pricing it accurately to get buyers interested. Whether you are considering a sale or just curious, it is always a good idea to keep on top of valuations, if for no other reason than to determine your ROI.

No matter what motivates you, having an accurate understanding of your home's estimated market value can come in handy. Today, there are several ways to do that, many of which are free and within reach online. However, some methods are better for getting an accurate real estate estimate than others. 

This post will compare working with a professional agent to get a real estate estimate of value versus sourcing the information online at a website like Zillow.

Finding A Real Estate Estimate On Zillow

In today's internet age, technology has given us the ability to perform many tasks ourselves. As buyers and sellers have become savvier, the first stop on the journey to buy or sell a home is the internet. 

Online tools and home value estimators are everywhere! While you have multiple platforms to choose from, one of the most popular is Zillow. But is a "Zestimate" as a Zillow estimate is known, accurate?

So, what is a Zestimate?

This is Zillow's version of an online home valuation platform and can give you an estimate on over 100 million homes all over the country. Zillow's algorithm automatically computes values. These are based on both public-submitted as well as user-submitted data points for each property.

Like many online value calculators, The accuracy of a Zillow Zestimate will vary widely based on several factors, including your location and how much data is available. 

While online sites like Zillow are helpful, you should never rely on them to make an accurate real estate estimate of valuation. Whether you are a buyer or a seller, you want accurate information to make an informed decision. 

Sites like Zillow have the potential to empower buyers and sellers. They have replaced the world of comparable sales and values that were once understandable only to real estate professionals. They give both buyers and sellers the ability to learn useful information about properties in their area, including their own.

Sites like Zillow do their best to provide accurate information as to the value of your home. However, Zillow is an automated system that is based on mathematical formulas and data analysis. It does not think for itself. It cannot account for variations – changes that can substantially affect the price of a home from any sort of "average."

When you are buying or selling, you cannot afford to be off on your real estate estimate by tens of thousands of dollars in your pricing or bidding!

How a Real Estate Professional Determines Value

While Zillow is fine if you are seeking a general idea of value, the fact is, analysis and a real estate estimate provided by a real estate professional will be more accurate. Real Estate professionals specialize in answering the question, "what is my home worth?" They do this for their clients by running a comparative market analysis. This consists of finding similar properties, or comps, that sold within the past 90 days and using this factual data to prepare their valuation.

The most accurate comp is a nearby home that is similar to yours in terms of square footage, bedrooms, and bathrooms. Ideally, the lot size is also similar. Once your REALTOR® finds a few comps in your area, they will average these figures to determine a baseline home value. 

Today, sellers need to take into consideration that home buyers begin their search for properties online. Assume your agent has provided you with a real estate estimate that values your home at $503,000. Most people will search for homes using $20,000 or $25,000 increments. 

That means listing your home at its market value of $503,000 could prevent your listing from being seen by buyers searching the $475,000 to $500,000 range. Asking $500,000 for your home in this instance might generate more traffic and maybe even a bidding war that can push your final number well above your expectations!

Why Accurate Pricing is Crucial

If your real estate estimate is too high, your home can sit on the market, even in a seller's market. Valuing your home too high can be a big problem. If your home stays on the market too long (over 30 days), it can become stigmatized. Buyers often get suspicious when they see that a home has been on the market for an extended period. They may think that there is something wrong with the property.

If that is the case, the seller may need to significantly reduce the price, sometimes below market value, to generate interest. However, pricing your home below market in an attempt to generate interest and multiple bids can also backfire. Granted, in a hot seller's market, like we're living in right now, that strategy can be effective. However, pricing too low can lead buyers to assume that your property is only worth the list price.

While sites like Zillow can be helpful in the information gathering stage, your best bet is to work with a real estate professional. They can help you to price your home accurately and list it for close to the figure. When you are in doubt, turn to your local real estate professional. They understand your market and will help you cut through the haze to pinpoint the right price for your home.

Why Isn't My House Selling In A Sellers Real Estate Market?

Many cities across the country are experiencing the hottest real estate market in years as the pandemic, low-interest rates, and tight housing inventory have created the perfect storm! We have all heard the stories about friends who put their house on the market and sold it in less than a week for thousands of dollars over asking. 

So you decided to list your house to take advantage of this unprecedented market, and you got a ton of traffic. It is showing and showing, and showing some more, but you have not received a single offer. That means it is time to make some changes, especially if it has been on the market for 30 days or more.

The fact is, even in this market, some homes linger on the market for weeks or months, while the house next door might go under contract in days.

In a hot market, the rule is, if you have not gotten a contract after six showings, it is time to reassess. The answer almost always comes back to one of two variables: price and/or condition (although marketing can also play a role.) However, there can also be other factors to consider.

In this post, we will look at ten reasons that your house might not be selling, even in a hot real estate market.

First, Address the Basics

The factors that move real estate are price, condition, and marketing. As a general rule, if your home is not selling, it is probably how the property is priced or the way it is exposed.

Today, marketing should embrace a combination of traditional marketing like listing on the MLS and print advertising and digital efforts like email marketing, web-based marketing, and social media, among other digital tactics.

When it comes to real estate marketing, professional photography and easily accessible information can certainly help. But it also relies on your real estate agent knowing your neighborhood and the local market. 

Today, eighty-four percent of all homes are on a lockbox, and most prospective buyers never meet the listing agent. A few years ago, the selling agent would meet you at the property, making sure the drapes were open, and the house looked bright and inviting before anyone walked in. Today, not so much.

Along with marketing, price is also crucial. Many sellers in a market like this will price their property based on what they want to get rather than what comparable homes in the area are selling for. You need to price your property based on facts, not fantasy. Buyers today are savvy and have access to a ton of information. They are educated and have access to websites, apps, and online home valuation tools, so they know what a home is worth before they step through the door.

While a home that is not updated will sell, the price needs to reflect the condition. If it is priced anticipating that it will need updating, buyers will not be scared away. Even in a seller's market, the basics apply. Removing clutter, sprucing up your curb appeal, opening the blinds, having an active agent, and using professional images in your marketing will help it sell faster. 

While the basics are often the place to start, there are other reasons that your house may not be selling in a hot market.

10 Possible Reasons Your Home Is Not Selling

Price, condition, and marketing are excellent places to start if your property is not selling. However, sometimes there are other factors to consider. Here are ten reasons why your home may not be selling even in a hot real estate market.

1. You're Overconfident

Just because we are in a hot real estate market does not mean that your house will get snapped up for a premium, no matter its condition. Of course, it might, but you should not count on it. 

Be realistic from day one. Although you may love your house, it may sit on the market for quite a while, no matter the market. Start with the basics and position your property well.

2. Your Home is Uninsurable

This is especially true in some states like Florida, where you can't get homeowner's insurance without inspecting the electrical, plumbing, roof, and cooling systems. Even in other states, companies can refuse to insure a home that does not meet basic standards. This can reduce your pool of buyers to those that can afford to pay cash and renovate to meet the insurance requirements.

3. Lenders Will Not Lend on the Home

The Federal Housing Authority has tightened the standards a home must meet before they approve a mortgage. Other lenders may set guidelines for the condition of roofs, electrical systems, or other components. If parts of the home are in poor condition, a lender may not be willing to lend.

4. There is a Problem with the Title

Title problems can spook buyers. For example:

• Conveyance without a recorded deed. (this can sometimes happen when transferred between family members)
• A paid-off mortgage that is still showing as a valid lien.
• A mechanics lien that a subcontractor filed for work done on the house.

Contact the title company before listing to make sure everything is in order. If not, ask them what needs to be done to prepare for selling your home, then do it!

5. Your Agent Just Does Not Seem to Care

Sometimes there is nothing wrong at all; your home is priced right and well-maintained. Maybe your agent is turning off prospective buyers. Some agents have no personality, and some are just plain burnt out. Find an agent who you find pleasant and interesting. Chances are, so will potential buyers. But, remember to dismiss your current agent before signing on with the new one.

6. The House Smells Bad

There is a saying among agents... "If I can smell it, I can't sell it." The remedy might be a simple as burning a scented candle or baking cookies during showings. But if there is a persistent odor, like mold or mildew, pet urine, or cigarette smoke, address it immediately!

7. Your Appliances Are Outdated

Stainless is in. Old yellow refrigerators are out! Potential buyers will realize that they can replace the refrigerator, but if your appliances all look like they were new in the 70s, buyers might wonder what else is old and on its last legs, like the HVAC or water heater!

8. Your Staging is Bad

It might not seem important, the buyer is buying a house, not your furniture, but staging matters more than you think! Staging helps potential buyers recognize the possibilities and put themselves in the home. They do not want to see your choices in art, or worse, a big empty u. The fact is, a tastefully staged home will sell for 1% to 5% more than a vacant or unstaged home. And they sell faster too!

9. You Have A Specific Problem to Address

Even if showings do not result in a sale, they can provide critical data. Buyer feedback is essential. Have your agent conclude their home tour with questions like "what's wrong with this home?" or "what would need to change to make you want to buy this home?" If you get the same answer from multiple people, you know you have a problem. Once you have identified a problem, address it. For example, if multiple buyers are concerned about fitting a king-sized bed in the master, update your staging to illustrate the solution.

10. You Are Getting Bad Advice

Just about everything in this post could have been prevented by working with an experienced REALTOR®. They should help you with staging, pricing, marketing, and curb appeal, as well as collecting data from showings and adjusting their game plan to reflect new information.

Unfortunately, working with the wrong agent can cost you. You may end up taking a lot less for your home, or it may stay on the market for months. The good news is, with the right adjustments to your home's price, listing, staging, or condition, it will eventually sell. There really is a buyer for every home!

When it's time to sell your home, it's important for your house to create a positive impression with prospective buyers. Our real estate agents recommend thoroughly cleaning your home before listing it to attract homebuyers and help you command the highest asking price.

A messy, cluttered space indicates to buyers that the property hasn't been properly maintained and may be a haven for expensive repairs. Check out this list of cleaning tips to prepare your home to list. 

Click Here to Read More...

The Value and ROI of Selling a Home With A Finished Basement

If you're considering selling your home now or in the near future, you may be wondering if finishing your basement provides a good ROI as a value-added improvement. As a general rule, the answer is yes, but that does not mean that a finished basement is the best way to invest your limited home improvement dollars. 

In terms of home value, a finished basement is not as valuable as improvements made to the main floor living space, like adding an above-grade bedroom or upgrading your kitchen. Of course, a project like a main floor addition is more valuable than a finished basement, but it is also much more costly. 

The terminology we often use to describe the basement, either finished or unfinished, leaves a bit to be desired. Just because a basement is unfinished does not mean that the space is a problem. For example, you may want to consider a home with an unfinished basement to customize your living space.

If you are considering purchasing a home with a finished basement, or you are a seller wanting to maximize ROI, make sure the value of the space is included and noted in the appraisal process.

So, Should You Finish Your Basement?

Like any significant home improvement, you need to consider a few factors and define your goals. Whether you should finish your basement depends on your lifestyle, local real estate market, and goals for the space. 

For example, if your family loves movie nights, and you are staying put for a few years, building a home theatre in the basement might be a smart investment. Not only will you see a 70% return when you do sell, but you will also have years of memories with family and friends and an improved lifestyle until you do sell!

The Value Difference Between an Unfinished and Finished Basement

Different states may have various regulations in terms of defining space and appraisal values. In many cases, basements - even when finished – are not included in square footage calculations. That is why you will sometimes see a listing for a 3000 square foot property with an additional 1000 square feet of basement space.

For our purposes, a finished basement means that the space is insulated, up to code, painted, and has flooring and trim like any other room in the house. There is also electricity and temperature control, meaning that a finished basement is usable and habitable.

For this reason, a finished basement tends to add value to your home. A finished basement increases the total amount of usable space, even if your local authorities prevent you from officially accounting for the square footage on the MLS.

However, that does not mean that an unfinished basement does not have its own set of merits. There is a ton of potential in even the most cobweb-infested, darkest basement, which means there is appraisal value there.

After all, the future homeowner can choose to finish the space to meet their unique needs, like an in-law apartment, media room, office, or playroom for the kids. Maybe they just want the storage space. As far as actual value, that really depends on who you ask. In any improvement like a finished basement, there is the appraised value and the consumer value. 

The Types of Finished Basements

There are basically three types of finished basements. Each offers benefits and drawbacks. The type you choose depends on your home's existing structure, your needs, and how much you are willing to invest.

• Walk-Out Basement

Generally, this offers the most value to buyers. They typically feature a ton of natural light. A true walk-out features a full-size door (often a slider) that exits to an outdoor space like a backyard or patio. This type of basement allows for full-size windows and more natural light. With a walk-out basement, the main floor is at street level in the front of the home, but elevated from the back, often with a porch or deck. In some markets, the MLS will count a walk-out as above-grade when calculating square footage, and the price per square foot.

• Standard Lot Basement

This is the traditional basement. A Standard lot basement is underground with little natural light, typically from small window wells near the ceiling. A standard lot usually pushed the main level a few feet above the ground, so there may be a couple of steps to get from the main level to the backyard. Because of the lack of natural light, a standard lot basement is less attractive to buyers at resale.

• Garden-Level Lot Basement

This is the middle ground between a walk-out and a standard basement. A garden-level lot basement is partially above and partially below grade due to a sloping lot. A garden-level lot basement may have a combination of full-size, and window well windows but typically does not have a walk-out door to the backyard.

Finished Basement ROI

Much like any major remodeling, it is crucial to understand that you will only recoup a portion of your investment with a finished basement. The best course of action is to finish the basement for your family to enjoy, then when you sell down the road, recoup a portion of your investment.

Of course, there are plenty of buyers who are actively seeking homes with a finished basement. And in a competitive market, a nicely finished basement can help your home to really stand out. 

According to Remodeling Magazine's Cost VS. Value Report, a mid-range basement remodel (meaning builders grade finishes) costs an average of $70,000 nationally and recoups about 70% on resale. However, it is important to understand that this can vary widely based on the region of the country. In the Pacific Northwest, for example, the average cost for a remodel is $84,000, but brings a return of 86.4%, compared to New England where the return is the lowest in the US at 52.8%, with a $76,500 cost.

How Your Finished Basement is Valued By an Appraiser

If you're considering selling your home, you may be considering a basement remodel for resale or marketing purposes. In that case, understanding how a finished basement is appraised will give you a better idea of a finished basement's impact on your bottom line. 

There are three key terms appraisers use to explain how they calculate value. They are:

• Above-Grade – Above grade refers to a room that is located above ground level.
• Below-Grade – Refers to rooms or living space in the basement or below ground level.
• Gross Living Area – According to the Appraisal Institute, the gross living area of your home is the total area of finished, above-grade residential space. It's measured using the perimeter of the house and only includes complete, habitable, above-grade space. So your finished basement is typically not included in this number.

An appraiser will start with a rough gauge based on the price per square foot in your home, and how much of your house is above-grade, versus below-grade. Below-grade space is approximately half of the above-grade price. So if the price per square foot is $150 in your location, your basement would add an additional $75 per square foot. 

An appraiser will also run comps of similar homes in your area with finished basements to determine a final appraisal price for your home.

The Bottom Line on Finished Basement Values

If you've already have a finished basement and it's time to sell, the good news is you'll enjoy a 50 – 70% return on your investment. If you're planning on staying put for a while, finishing your basement can give you several years of enjoyment for you and your family, and you'll still get the same 50-70% return on your investment.

If you have an unfinished basement, working with an experienced real estate professional can help you to navigate the waters in terms of the value and potential, along with what the market expects. It's also important to understand that a proper home inspection (very different than an appraisal) is extra important if you're a buyer considering a home with an unfinished or finished basement. 

Structural issues and water damage can be hidden or easily go unnoticed in an unfinished basement, so even if the market is tight, and you're eager to snap up that great home before someone else does, don't neglect your due diligence!

https://www.homelight.com/blog/buyer-appraisal-value-of-unfinished-basement/

https://www.zillow.com/sellers-guide/does-a-finished-basement-add-value/

Seven Reasons The Highest Offer Doesn't Get You The Home

Part Three of Our Three-Part Series On Making an Offer When Buying A Home

The real estate market in many locations has simply been on fire! Today, here in New England and many other areas, homes that typically attract little interest are garnering multiple offers, and bidding wars are common. 

Conventional wisdom says that when it comes to real estate, the highest offer gets the house. But the truth is, this is not always the case. Sure, a solid offer is the first thing that every seller wants to see, but an astute real estate agent or REALTOR® will advise a seller that each offer is more than just a number it is actually the sum of all its parts.

Here are seven reasons why your artfully crafted lower real estate offer might just help you beat the higher bidder after all!

1. When it Comes to Real Estate, Cash is King!

If you can afford to pay cash, you just might beat a higher bidder. It might sound impossible to pay cash for your home, but many people do it. According to the National Association of Realtors, 12% of all houses sold in 2019 were all-cash deals. 

An all-cash offer is attractive to a seller of real estate for several reasons. First, there are no mortgages or lenders involved, no appraisal to worry about, and escrow can close faster. 

2. Don't Have 100% Cash? A Preapproval Letter is the Next Best Thing

Pre-approval is much different than pre-qualification. A pre-approval letter is a confirmation from a lender that confirms you are ready to buy in a set price range and you have been pre-approved for the loan.

In essence, the real estate pre-approval lender turns you into a virtual cash buyer. Other buyers could offer more, but if they are not pre-approved, the deal could fall through. As a result, a pre-approval letter gives you a leg up, even with a lower offer.

3. Your Timeline is Flexible

Typically, the closing period can last anywhere from 30 to 90 days. Offering to customize closing to meet the seller's needs can sometimes seal the deal over a higher bidder. Sellers almost always want a fast close. If you have all your paperwork together you might be able to get it done! Be flexible! Sometimes the seller might need more time, for example, if the house they are moving into will not be ready for 60 days. Find out what works for the seller and accommodate their needs. Sometimes the lower offer does win.

 4. The "We Love Your House, Please Let Us Buy It" Letter

 It might seem cheesy, but much of the home buying process is emotionally based. Sometimes sending the seller a heartfelt letter letting them know you   love their house and hope to raise your family in the home can sometimes make the difference!

 5. Keep the Contingencies and Concessions to a Minimum

 Contingencies are typically negotiating tools that allow you to walk away from a deal without consequences. The three most common are inspection,   financing, and appraisal contingencies. Every contingency you add can make your offer appear weaker because each can make the deal more difficult to   close. Make sure you really need each contingency before building them into your offer. 

6. Be Careful About Asking for "Extras"

Be careful what you ask for! If you ask for the custom drapes, the appliances, and the chandelier that was a wedding gift from the inlaws, (and was excluded in the listing) you risk offending the seller and having them walk away. Even if yours is the highest bid!

7. Include an Escalation Clause

An escalation clause is an excellent way to make your offer stand out. An escalation clause states that you will pay a pre-determined amount over the highest bona fide offer that does not contain a home sale contingency. While not all agents use this tactic, it's a great way to stand out in a competitive situation. 

For example, once all of the offers are reviewed, the seller's agent will contact the buyer's agent and forward them the highest offer. The buyer then has a fixed amount of time, for example, 30 minutes, to accept or reject the highest bid and include their escalation amount. So if the offer is $525,000 and the escalation amount is $5000, the buyer must agree to $530,000.

Putting Together Your Real Estate Strategy in a Competitive Market

Sometimes the biggest wallet does not close the real estate deal. These tactics can help you develop a strategy to help make a lower bid more attractive to a seller. The best solution is to work with an experienced real estate agent or REALTOR®. They understand the local market and can help you develop a strategy to compete in a tight marketplace that goes beyond simply making the higher offer.

Remember, every term in a deal is negotiable. In today's market, the seller is in the driver's seat. However, if you understand their needs you can craft a strategy that offers benefits beyond the highest offer. A good seller's agent will compare and leverage all offers to achieve the homeowner's desired pricing and terms. A good buyer's agent will help you craft an offer that benefits you and meets all of the seller's needs. 

https://www.trulia.com/blog/5-reasons-the-highest-offer-wont-always-get-you-the-house/

https://www.realtor.com/advice/buy/reasons-why-your-higher-offer-wont-win-the-house/

http://realestate.boston.com/ask-the-expert/2018/05/10/why-the-highest-offer-isnt-always-the-best-one/

If you missed part one of this three part series on Making an Offer when Buying a Home, here is the link to part one & two:

Part One https://www.masiello.com/news-and-updates/2021/06/16/the-logistics-of-a-seller-backing-out-of-a-purchase-and-sale

Part Two https://www.masiello.com/news-and-updates/2021/06/24/the-pros-and-cons-of-an-all-cash-offer-for-buyers-and-sellers

Are There Advantages To An All Cash Offer When Buying or Selling Real Estate?

Part Two of our Three-Part Series On Making an Offer When Buying A Home

When it comes to buying a home, an all-cash offer can be a pretty powerful tactic, especially if there are multiple bids on a piece of property. However, making (or accepting) an all-cash offer is not always a no-brainer, either for the buyer... or the seller.

One big difference between an all-cash offer and a financed offer is that the cash offer can close quicker. As a general rule, while an all-cash offer might seem suspicious, if it's from a valid buyer, it is usually easier, with a lot less red tape.

In this post, we'll look at the pros and cons of the all-cash offer from the perspective of the buyer and the seller.

Defining the All Cash Offer

Recent data from the National Association of Realtors for 2019 found that 12% of all buyers purchased their homes with cash. As the name implies, an all-cash offer means that you have the ability and liquid cash available to purchase the house outright. You don't literally pay with a briefcase full of hundreds, but you'll need access to all of the funds in a liquid account that allows immediate withdrawals or transfers. For most people, that means a checking, savings, or money market account.

An all-cash offer means that you will not be getting a mortgage loan for any portion of the sale. This is important to the seller because it eliminates the financing contingency of the purchase agreement. A seller makes their decisions based on the terms of your offer, including contingencies. An all-cash offer also makes several other contingencies optional. That can be a powerful tool when engaged in a bidding war with multiple buyers. These can include:

• The Appraisal Contingency

Lenders require an appraisal, cash buyers do not. If you're confident you're getting a good price, you can waive the appraisal contingency. 

• The Inspection Contingency

As a cash buyer, an inspection contingency is also optional. However, this is one contingency you might want to keep in your agreement.

• The Sales Contingency

A sales contingency means that your current house must sell before you close on the new property. This is pretty much the opposite of liquidity. While you can include this contingency, it diminishes the attractiveness of an all-cash offer.

The bottom line? An all-cash offer means you have liquid funds available, so you will not need a mortgage loan. You may also waive certain contingencies to make your offer even more attractive to the seller.

The Pros and Cons of an All Cash Offer: For The Buyer

An all-cash offer offers homebuyers some significant advantages. Here are some of the pros and cons of an all-cash offer:

The Pros: 

• Limited Contingences

As previously mentioned, one key benefit of making an all-cash offer is the ability to pick and choose which contingencies to include. Not only will this save money, but in a competitive market, this is very desirable to most sellers.

• Less Hassle, Lower Fees

All cash offers are also good for the homebuyer because you do not have the hassle of dealing with a lender. That means no need to gather paperwork like tax returns, income statements, proof of employment, credit scores, or asset lists. You will also save on closing costs associated with getting a mortgage loan.

• Streamlined Closing

As a buyer, an all-cash offer gives you more control over the closing timeline. This means you can close faster because you are not waiting for bank approvals. This can be significant for sellers who need to move quickly.

• Possible Pricing Benefits

As mentioned, sellers are often attracted to an all-cash offer because of fewer contingencies, fewer hassles, and a faster timeline. As a result, you may be able to make a lower offer and have it accepted, even in a multi-offer situation. An all-cash offer can give you leverage to negotiate a better price that can mean savings and increased equity right from closing!

The Cons:

There are some drawbacks to making an all-cash offer. You need to consider all of the positives and negatives before you commit to any deal. Here are some negatives to be aware of.

• Loss of Liquidity

This should be a top consideration before making an all-cash offer. Real estate is a non-liquid asset which means it can be challenging to get cash out when you need it. 

• Loss of Diversification

If you place much of your liquidity into a home purchase, you may lose out on potentially larger gains that could be realized elsewhere. Real estate typically earns around 2 or 3% annually. 

• Tax Implications

If you itemize deductions, mortgage loan interest is tax-deductible on your federal income taxes. Without a mortgage loan, you lose that deduction.

• Less Free Cash for Homeownership

Owning a home requires more money than the purchase price. You still need to budget for closing costs, any renovations, and general maintenance and upkeep. Make sure you have enough money to cover taxes, repairs, and other items.

The Pros and Cons of an All Cash Offer: The Seller

As with buyers, there are pros and cons for sellers when an all-cash offer is made for your property. Several situations encourage an all-cash offer. In recent years a new phenomenon has emerged: direct homebuying online. Companies like Open Door, Redfin, and most recently Zillow are buying homes directly from sellers.

Let's take a look at the pros and cons of an all-cash offer as the seller.

The Pros:

• It's FAST

The traditional route of using an agent and listing on the MLS, or going "FSBO" offers no guarantee your home will sell. Assuming you've priced it right, it should sell, but it can take months to get the deal you're looking for. Realtor.com data suggests that it takes about 65 days to sell (which can vary widely by location). Once under contract, escrow can last 30 to 60 days, or longer. That being said, if you need money fast, going the traditional route has drawbacks. Online direct homebuying, for example, can get you an offer in a fraction of the time.

• No Repairs

If you're in a hurry or don't have cash on hand, the idea of repairs that might be needed to maximize your home's value may not be doable. Cash sales are typical "as-is." You'll still need to disclose defects, but if your home needs repairs, and you're not in a position to do them, an all-cash offer may be the way to go.

• Fewer Contingencies

This was also a pro for the buyer. A traditional sale often comes with a list of contingencies. If it's a buyer's market (not applicable right now!) your buyer might even request a home sale contingency which can drag out your sale for months.

The Cons:

While it seems like there are a few great benefits of receiving and accepting an all-cash offer, there are a couple of drawbacks to be aware of:

• Less Money / Lower Offers

This is the big one! If you're looking for top dollar for your home, then an all-cash offer will often disappoint. In a seller's market, like today, an all-cash offer is a good tactic for a buyer to win a bidding war if you're selling to an individual who is looking to live in the home. However, investors are buying homes to resell them. They will offer less if they are coming to you with an all-cash offer. If you're selling to a company like Zillow they may offer less and give you great terms like a 10-day close and no contingencies. It depends on your situation as to whether it's a good deal.

• Make Sure The Money is "Real"

If you're dealing with a reputable company like Zillow or Redfin, or a REALTOR® or agent who has vetted their client this isn't a concern. However, if you received a "We Pay Cash" postcard in the mail, make sure they have the cash they're offering. Ask to see a bank statement or "proof of funds" letter. In these types of deals, since all-cash offers often have a short escrow (sometimes as short as 7 to 10 days) you may want to negotiate a lease-back so you don't have to rush into a move. This is a smart tactic. In the event the deal falls apart, you'll have fewer worries.

The Bottom Line On An All Cash Offer

The all-cash offer brings with it both benefits and drawbacks for both buyers making the offer and sellers who accept it. The bottom line is that for buyers, the all-cash offer is an interesting tactic in a hot market that can help make them stand out from among the crowd in the event of multiple offers on a property. There are some considerations including contingencies and closing dates you'll need to think through.

For the seller, the all-cash offer can mean a quick close and fewer hassles, but unless it's a seller's market, it's likely to be below the market value of your home. But it is fast and convenient. In the end, whether you're the buyer or the seller, you need to consider all of your options including which factors are most important to you in your unique situation.

If you missed part one of this three part series on Making an Offer when Buying a Home, here is the link to part one: https://www.masiello.com/news-and-updates/2021/06/16/the-logistics-of-a-seller-backing-out-of-a-purchase-and-sale

The Brokerage Disclosure: Meet the Players in a Real Estate Transaction

It's often said that homes are sold by emotion. A buyer falls in love with a home, and the dance between buyer and seller begins. While the process is often driven by emotion, the bottom line is that a real estate transaction is at its heart a legal transaction.

As a legal transaction, numerous players, forms, and contracts are presented and signed in the average real estate transaction. One of these forms is the brokerage disclosure. The brokerage disclosure is a written explanation signed by the prospective buyer or seller of real estate, which clearly explains the broker's role in the transaction.

In this post, we're going to take a closer look at the roles of the various players in the process of selling a home, including the buyer's agent, seller's agent, facilitators, and broker. We'll also define the brokerage disclosure form and explain its role in the process.

Defining the Brokerage Disclosure Form

The brokerage disclosure form is just one of the many forms you'll see when buying or selling a home. While it is not legally binding, it is an ethically valuable piece of paper that defines the major players and their roles in the typical real estate transaction. 

When you work with a real estate agent or REALTOR® whether buying or selling a property, the National Association of Realtors requires that you be informed as to whom the agent is representing in the transaction. The brokerage disclosure form outlines each agent's role in the transaction.

While the brokerage disclosure document is a form and not a contract, each is geared to the brokerage's role in the transaction (seller's broker, buyer's broker, etc.), and each state's agreement is slightly different.

The Seller's Agent

As a prospective buyer or seller, you need to understand that unless the buyer chooses to establish a written Buyer's Agency Agreement:

• Both the listing agent and the sub or selling agent are agents for the seller.
• Their loyalty is always to the seller, and they must inform the seller of all important information that might affect the seller's decision regarding the sale of the property.
• While neither the listing nor sub-agent is the buyer's agent, they can provide the buyer with information about available properties, sources of financing and aid the buyer in comparing the features of various properties as well as showing them and making an offer to purchase.

As a buyer, it's important to understand that the seller's agent is loyal to the seller and is bound to act in the seller's best interest. However, a selling agent must treat any buyer honestly and fairly. A good seller's agent will;

• Educate the buyer on the buying process.
• Locate properties that meet your needs via MLS listings.
• Arrange property showings.
• Provide you with market information, financial guidance, and disclose know facts about the property.
• Provide information on services needed to move the transaction alone, like home inspection, appraisal, legal, and other services.
• Coordinate all of the details to ensure a smooth transaction. The agent's duties do not end until you are in the home.

The Buyer's Agent

If you want agent representation when buying a home, you'll need to sign a written Buyer Agency agreement. The agent is then responsible to you and your best interests, not the sellers.

The buyer's agent is typically paid a commission via a split with the seller's agency, or their fee may be included in the mortgage. It should not cost the buyer any additional funds and often cost less under a Buyer's agency agreement than under a sub-agency.

With a Buyers Agency Agreement, you can expect fiduciary duties beyond the services that can be legally offered to you by the selling agent. This should be clearly disclosed in the brokerage disclosure form.

A Buyer's Agent's duties include:

Loyalty to the Buyer: The buyer's agent has a duty to act in the buyer's best interest at all times. Including negotiating the best price and terms for the buyer.

Obedience: As long as a request is legal and within the scope of the exercise of agency, a buyer's agent is obligated to do whatever the buyer requests. 

Disclosure: If a buyer gets swept away emotionally by a property, it is their agent's job to remind them that it may not be suitable based on pre-established factors. Seller's agents must disclose only material defects like structural problems or zoning issues but otherwise will stress the benefits of the property. A buyer's agent must disclose everything!

Confidentiality: The buyer's agent may not reveal by word or deed that the buyer is willing or able to pay more than the offered price. The buyer's agent must not disclose any discussions, including that they can not find a comparable property or any fact that may affect the buyer's negotiating position.

Reasonable Care and Due Diligence: The buyer's agent is obligated to be competent, make appropriate recommendations, and must call upon their full range of skills and knowledge on the buyer's behalf. 

Accounting: Not only does this include accounting for deposit money, it means seeing that everything the buyer expects is included in the contract to purchase. If the agent is being paid by any source other than the buyer, they must disclose it.

Unlike the listing and selling agent, the buyer's agent's role is not as a salesman but as an agent for the buyer. They must always act in the best interest of their client, not the seller or their agent. The brokerage disclosure form clearly outlines their role and responsibilities.

Real Estate Broker

An easy way to understand the role of a real estate broker is to understand that the relationship between the broker and agent is similar to the role between a principal and a teacher. A principal is not an entry-level job – you need a level of teaching experience before you can apply. While both can teach, the principal has more authority in the school.

In the US, a real estate agent needs to work under a broker for their license to be active. You don't just pass the test, walk out and start selling homes unless you're a broker; you must work under one. 

Real Estate Facilitators

This role is a little confusing. While the role of both the buyer's agent and the seller's agent are clearly defined, a facilitator is a little more complex. A facilitator is the role of an agent before the client elects the agent as either a buyer or seller's representative. 

In Massachusetts, MA law requires an agent to disclose their role at the first meeting. The law states:

" When a real estate licensee works as a facilitator, that licensee assists the seller and/or buyer in reaching an agreement but does not represent either the buyer or the seller in the transaction. The facilitator and the broker with whom the facilitator is affiliated owe the seller and buyer a duty to present all real property honestly and accurately by disclosing known material defects and owe a duty to account for funds. Unless specifically agreed upon beforehand, the facilitator has no duty to keep information received from a seller or buyer confidential."

The Bottom Line...

The brokerage disclosure form is a vital component of a real estate transaction. It is important to disclose and define each person's role in the process when buying or selling a home. However, at the end of the day, choosing an agent should be about more than a recognizable brokerage office, designation, affiliation, or years in the industry, although these factors are important.

The core of every real estate transaction is trust.While you need to understand the role of the players in every transaction and who they represent, the bottom line is that you need to do your due diligence and ultimately trust the professionals you choose to work with when buying or selling a home. 

Explain the role the buyer's agent, the seller's agent, facilitators, Transaction, Broker, etc., and others all play in the process of selling you a home.

It is a form, not a contract

Nuances by state

Can A Seller Back Out Of A Purchase and Sale Contract?

It doesn't happen often, but like buyers, sellers can get cold feet. Between the work of personalizing your home and the memories you've created there, sometimes it's hard to let go. Even if you don't get cold feet, there are plenty of other reasons to change your mind about selling.

Buyer's who back out of a deal forfeit their earnest deposit money (typically 1-3% of the offer price). As a seller, if you decide to cancel after the home is under contract, you can either be legally forced to close, or sued for financial damages. Of course, the specifics depend on the terms of your sales contract.

So, Can a Seller Back Out of a Contract?

While technically the answer to this question is no, it's actually not uncommon, especially in a hot market. Selling a house is complex, time-consuming, and can be expensive. When a deal is struck and closed, there's usually a sigh of relief. 

That being said, even when the seller doesn't have a clear legal right to back out, it can happen. This is generally tough for the seller. While a buyer has the benefit of contingencies that can make it easier to walk away, it's hard for a seller to do so without a penalty.

As a seller, if you're selling your home, you should not enter into any purchase and sale agreement if there is any doubt on your part. There is really little wiggle room for doubt, second thoughts, or cold feet. Buyers have ways out, the seller, not so much!

Why Would A Seller Renege on a Purchase and Sale?

Sellers may have many reasons for trying to back out of a purchase and sale agreement. While some may hold up in court, others are actionable and can result in penalties. 

Among the reasons a seller may give for backing out of an agreement include:

• They get a higher offer from another buyer.
• The seller has unable to find a suitable replacement home.
• Their situation has changed, for example, a family member dies making it financially difficult to move.
• The seller has emotional ties to their home and gets cold feet.
• There is a disagreement within the seller's family about leaving the house.
• The property appraises for significantly more than the buyer's accepted offer.

Both sellers and buyers should understand that any offers, counteroffers, and acceptances should be in writing and signed by both parties agreeing to the contract. 

Typically, when a seller accepts the buyer's signed offer, or counteroffer and communicates that acceptance to the buyer, or the buyer's representative it is considered a binding agreement. Until that time, there is no obligation on behalf of the owner to sell. An oral agreement is typically not binding. A contract for selling real property must be in writing and signed by both parties.

There are some instances when a seller can back out of an agreement without consequence. Here are a few examples:

• If you only have a verbal agreement. Based on the statute of frauds, any contract to purchase real property must be in writing. This statute is enforceable in most states.
• If the contract is not signed by BOTH parties.
• If you have included a new home contingency into the purchase and sale. This contingency allows the seller to back out if they can not find a new home to meet their needs. This would be written into the original contract with the buyer.
• During the attorney review period. In most states, there is a 3 to 5-day period during which a seller can cancel based on their attorney's review of the signed contract. In some states, this review period is mandatory.
• If the buyer agrees to the cancellation. If the buyer is sympathetic to your reason (for example, the death of a family member) they can let you out of the agreement without suing.
• By capitalizing on the buyer's contingencies. Buyers often put multiple contingencies into their offers like a home inspection or appraisal contingency. Refusing to negotiate after the findings of these reports can derail the deal.

The Potential Costs of Backing Out of a Purchase and Sale

A home seller that backs out of a purchase and sale can be sued for breach of contract. A judge could find the seller at fault and may order the seller to sign over the deed and complete the sale. A seller that loses in court is often ordered to pay the buyer's legal fees along with their own and there could be a harsh penalty. 

The seller may also be ordered to:

• Return the buyer's good faith deposit with interest.
• Pay the buyer back for all inspections and appraisal fees
• Pay for lost equity the buyer may have realized
• Pay any other reasonable expenses
• Reimburse the listing agent for the lost commission and all marketing costs.

A seller that wants to walk away and avoid a court fight could offer to pay the buyer enough to make them whole and hope they agree to cancel the contract.

Generally, a seller can not cancel without cause. Your attorney should look at any purchase and sale agreement and make sure that there are protective measures included to protect the seller in the event of a change of heart. 

The bottom line in this instance is to think through the purchase and sale before taking any action. If there is a potential for a change of heart, do not sign any agreement unless and until you are sure. Think about your initial reasons for selling your home. Chances are these reasons will hold up and perhaps is just a temporary bought of remorse that will fade with time, or when the check clears!

Selling Your Home: The Closing

When selling your home, a REALTOR® completes dozens of steps and tasks to get you to the point at which the closing occurs. Some of these steps include;

• Researching your market
• Accurately pricing your home
• Listing it in the Multiple Listing Service database
• Marketing

Your REALTOR® has been there every step of the way, keeping your best interests front and center. They fielded offers, negotiated terms, and kept you abreast of every development regarding your home. From arranging the septic inspection to monitoring your buyer's financing to arranging the inspections to keep you compliant with the Contract to Purchase terms, your REALTOR® has made the process of selling your home a smooth one and has brought you to the final step... the closing!

This is the stage where your REALTOR® will "dot the i's and cross the t's." It's the stage where all of their hard work, compiling documents and preparing all of the forms needed to complete the closing comes to fruition. Even after the closing is complete and the new owners have the keys, your REALTOR® is still there working on your behalf.

In this post, in our selling your home series, we will examine the final steps your REALTOR® will take to prepare you for closing, close on your home, and follow up post-closing to answer any questions or resolve any issues that may arise.

Selling Your Home: Closing Preparations and Duties

You've arrived at the closing. Your REALTOR® has arranged inspections, worked with your buyer to secure financing, and completed a few dozen other tasks since the buyer signed the Contract to Purchase. Any repairs or issues have been addressed, the bank approved the financing, and now it's time for your REALTOR® to put together all of the paperwork and schedule your closing. As the seller, your REALTOR® will typically act as your representative at the closing. 

These are the steps they will take before closing day.

• They will make sure that all parties sign the contract.
• Once the contract is signed, they will coordinate the closing process with the buyer's agent and lender and update all of the closing forms and files.
• Your REALTOR® will ensure that all parties have all of the forms and information needed to legally close the sale.
• They will select the location where the closing will be held, confirm the closing date and time, and notify all parties.
• They will assist in solving any title problems (boundary disputes, easements, etc.) or obtain Death Certificates if required.
• They will work with the buyer's agent in scheduling and conducting the buyer's Final Walk-Thru before the closing.
• A member of your REALTORS® team will research all tax, HOA, utility, and other applicable prorations.

At this point, your REALTOR® will begin the final processes, starting with a request for the final closing figures from the closing agent (attorney or title company).

They will receive and carefully review closing figures to ensure that they are accurate.

• Forward the verified closing figures to the buyer's agent.
• Request a copy of the closing documents from the closing agent.
• Confirm that the buyer and buyer's agent have received the title insurance commitment.
• They will provide the "Home Owners Warranty" for availability at closing and carefully review all of the closing documents for errors with the closing agent.
• At the closing, your REALTOR® will provide the earnest money deposit check from the escrow account to the closing agent.
• Coordinate this closing with the seller's next purchase and resolve any timing problems.
• Have a "no surprises" closing so that the seller receives a net proceeds check at the closing.

Upon closing, your REALTOR® will forward all of the closing documents to you as the seller, as requested. If applicable, they will refer you to one of the best agents at your new destination if needed.

The last step is changing the MLS status to sold, entering the date, price, selling broker, and Agent ID numbers, etc. Finally, they will close out the listing in their transaction management program.

Selling Your Home: Follow Up After Closing

Even though your home is sold, and your listing is closed out both internally, and on the MLS, your REALTOR® remains ready to answer questions and provide support even after the sale. They are available to the new buyer to answer questions about filing claims with the Home Warranty Company if requested. 

They will also remain available to clarify and resolve any issues or conflicts about repairs if the buyer is not satisfied. Your REALTOR is on call to respond to any follow-on calls and provide any additional information required from their office files.

Working with a REALTOR® to sell your home is a smart business decision. They are pledged to uphold the stringent, enforceable tenets of the REALTOR® code of Ethics in all of their professional dealings with the public. A REALTOR® has the level of skill, knowledge, and attention to detail that's required in today's complex real estate transactions. Not every real estate licensee holds REALTOR® membership. If you want a smooth transaction, make sure yours does!

The Benefits of Selling Your Home with a REALTOR®

What Happens When the Offers Roll in...

Your REALTOR® has researched the market, determined your home's value, listed your property on the Multiple Listing Service (MLS) database, and begun marketing your home to their contacts and other agents, literally throughout the world...

If they've done their job well, you should receive an offer for your home. Actually, in today's market, you'll most likely be receiving multiple offers. It can be a pretty long road between receiving an offer and scheduling a closing. This is where your REALTOR'S® expertise really shines! 

Your REALTOR® is there to help you sort through and understand any offers and help you to make an informed decision about which is the right one to accept. The Offer/Contract process can be tricky. It's the right time to have a REALTOR® on your team to negotiate the right deal.

In this selling your home post, we're going to explore the process and steps your REALTOR® will take from the moment an offer (or offers) is made until the day a Contract to Purchase is signed!

Selling Your Home: When You Receive an Offer...

Once you've received an offer for your home, there are several steps your REALTOR® will take that will keep the process of selling your home on track. An offer is the first step toward a signed Contract to Purchase. The buyer may have contingencies like home inspections, and your REALTOR® will take steps to verify that the buyer is pre-qualified.

During this part of the process, there is a lot of paperwork, deposits must be properly handled, and the buyer may need additional information that your REALTOR® should have in the Property File. Here are the steps and tasks your REALTOR® will manage from receiving an initial offer, culminating in a signed Purchase and Sale Agreement:

• They will review all Offer to Purchase contracts submitted by buyers or their agents.
• Based on their experience, they will evaluate the offer(s) and prepare a "net sheet" on each offer for you for comparison purposes.
• Your REALTOR® will counsel you on the best offer, explaining the merits and weaknesses of each component of each offer.
• They will contact the buyer's agent to review the buyer's qualifications and discuss the offer.
• They will then fax/deliver the Seller's Disclosure form to the buyer's agent or directly to the buyer upon request. Before the offer, if possible.
• Your REALTOR® will confirm the buyer is pre-qualified by calling the Loan Officer and obtain a copy of the buyer's pre-qualification letter.
• Your REALTOR® will negotiate all offers on your behalf, setting time limits for inspections, loan approvals, and closing dates
• They will also prepare and convey any counteroffers, acceptance, or amendments to the buyer or agent.
• They will then fax copies of contracts and all addendums to the closing attorney or title company.

This process should culminate in a signed Offer to Purchase. When the Offer to Purchase Contract is accepted and signed by you, your REALTOR® will deliver the signed contract to the buyer's agent. They will then record and promptly deposit the buyer's earnest money into an escrow account, disseminate "Under-Contract Showing Restrictions," and deliver copies of the fully signed Offer to Purchase contract to you.

Your Realtor will also deliver copies of the Offer to Purchase to the selling agent and the lender. They will add copies of the contract to the office file and advise the seller in handling any additional offers to purchase submitted between the contract and the closing. At this point, the process of selling your home will enter into the final stages. This includes:

• Changing the status in the MLS to "Sale Pending."
• Updating the transaction management program to show "Sale Pending." 
• Your REALTOR® will then review the buyer's credit report results with you and advise you of the best and worst-case scenarios. If you are financing the property, they will provide you with a copy of the buyer's credit report.
• They will assist the buyer with obtaining financing if applicable and will follow up as necessary.
• Your agent will coordinate with the lender on Discount Points being locked in with dates. 
• They will next deliver unrecorded property information to the buyer.

If your home has a septic system and/or a well...

• Your REALTOR® will order a septic system inspection.
• Receive and review the septic system report and assess any possible impact on the sale.
• Deliver a copy of the septic system inspection report to the lender and the buyer.
• Conduct and deliver a Well Flow Test and deliver copies of the report to the lender, buyer, and Property Listing file.
• Verify that a termite inspection has been ordered.
• Verify that a mold inspection has been ordered (if required).

Tracking the Loan Process 

Your REALTOR® may also work with the buyer to assist them in securing a loan. Loan approval is a major element of a successful sale and as such, your REALTOR® will spend time tracking the process. They will:

• Confirm that the Verification of Deposit & Buyer's Employment has been returned.
• Follow the loan processing through to the underwriter.
• Add the lender and any other vendors to the transaction management program so agents, buyers, and sellers can track the progress of the sale.
• They will contact the lender weekly to ensure that processing is on track.
• When the buyer is approved, they will relay the final approval to the seller.

The Appraisal

The lender will require an appraisal to approve the loan. Your REALTOR® will schedule the appraisal and provide the comparable sales used in market pricing to the appraiser. After the appraiser has left the property, your REALTOR® will follow up with them and enter the completion of the appraisal into the transaction management program. If you have any questions about the appraisal report, for example, if it seems too low, your REALTOR® will assist you in questioning the report.

Home Inspection

Your buyer and their lender will require a home inspection before approving a loan. Along with the appraisal, this is an important element. Your REALTOR® will work with you to coordinate the buyer's professional home inspection. They will then receive and review a copy of the inspector's report and enter its completion into the transaction management tracking software.

They will sit down with you and explain your responsibilities concerning loan limits and interpret any clauses in the contract. They will also ensure your compliance with any Home Inspection Clause requirements.

If issues arise, your REALTOR® will assist you with identifying and negotiating with qualified contractors to perform any repairs required by the seller or their loan underwriter. They will also negotiate payment and oversee the completion of all required repairs on your behalf if needed.

Once you've received an offer for your home, the process can move quickly, and there are many moving parts to selling your home before closing. Your REALTOR® has the experience, expertise, and contacts to assist you and make the process as smooth as possible. Should a problem arise, they are there to help you resolve it, whether it's hiring a contractor for needed repairs or explaining the appraisal or home inspector's report. 

In our next blog post, we're going to take a look at the final steps of the process when selling your home – the closing, and how your REALTOR will continue to work for you, even after you've given the keys to the new owner!

In a seller's market, such as we have today, sellers might feel like they can skip some steps before listing their home. After all, sellers are getting their asking prices, aren't they? But is that the only thing to consider? Our real estate agents know staging your home is important in any real estate market. Here's why. 

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Your REALTOR® Works Hard to Win Your Business, and your Trust

If you're considering selling your home, you will want to find a professional to represent your interests. Properly selling your home is a complicated process, from the initial market research to signing the papers at closing. Your REALTOR® works hard from before you choose to list your property with them until well after the new owners take possession. 

To properly and legally sell your home is not an easy task. For the typical sale, there are nearly 200 actions taken when selling your home. These include research steps, processes, and review stages in a successful residential real estate transaction that your REALTOR® and their team will undertake in return for their commission. Some take minutes, some may take days, and some may not be needed, but each is critical to a successful outcome. 

In this selling your home post, we're going to take a closer look at the elements of a sale that your REALTOR® and their team will undertake before they've even signed you to a contract and listed your home.

REALTOR® Pre-Listing Activities When Selling Your Home: Research and Preparation

• Your REALTOR® will begin the process of selling your house by scheduling an appointment with you for a listing presentation.
• They will follow up with a written or email confirmation of the appointment and will call to confirm.
• Your REALTOR® and their team will review pre-appointment questions.
• Research begins. Your team will research all comparable currently listed properties.
• Research sales activity for the past 18 months from both MLS and public record databases.
• Research "Average Days on Market" for properties of this type, price range, and location.

The second level of research begins. This includes the legal side of researching for your property, for codes, ownership, and more.

• Your REALTOR® will download property tax role information.
• Prepare "Comparable Market Analysis" (CMA) to establish a fair market value.
• Obtain a copy of the subdivision plat/complex layout and research the property's ownership and deed type.
• They will also research the property's public record information for lot size & dimensions and research and verify legal description, land use coding, and any deed restrictions.
• They will research the property's current use and zoning, verify legal names of owner(s) in the county's public property records

Finally, your realtor and their team will prepare a listing presentation package with all of the above materials included. As a part of the presentation package, your team will perform an exterior "Curb Appeal Assessment" of your property and compile and assemble a formal file. As part of the report, they will confirm current public schools, explain the impact of schools on your property's market value, and review the listing appointment checklist with their team to ensure that all of the necessary steps and actions have been completed.

Selling Your Home: Your Listing Appointment Presentation

Once your REALTOR® and their team have completed their research, they will meet with you to give you a formal presentation. There will cover some general information about the market and some specific information they have compiled about your home. In this meeting, your REALTOR® will:

• Give you an overview of current local market conditions and projections.
• Review your agent's and company's credentials and accomplishments within the market.
• Present you with a company profile and its position or "niche" in the market.
• Present CMA results to you, including Comparables, Sold, Current Listings & Expired.
• Offer you a well-researched pricing strategy based on their professional judgment, experience, and interpretation of current market conditions.
• Discuss your goals in order to market your home effectively. 
• Explain marketing options, including the power and benefits of the Multiple Listing Service, the market power of web marketing, IDX, and REALTOR.com.
• Your REALTOR® will then explain the work your agent and brokerage do "behind the scenes" and the agent's role in taking calls to screen for qualified buyers, protecting you from curiosity seekers, and provide you with availability on the weekends.
• They will present you with and discuss a customized strategic master marketing plan for your home.
• Your REALTOR® will explain the different agency relationships and determine your preference.
• Finally, they will review and explain all of the clauses in your Listing Contract and Addendum, and of course, they will obtain your signature on the listing contract.

As you can see, once you decide to list your home for sale, your REALTOR® begins working on your behalf to research, strategize, and organize your property listing to make sure that your home is positioned and priced appropriately for your local market. They will present you with a well-thought-out marketing plan, a well-researched and appropriate price for your home, and will review and organize property records to include in your formal file to prepare for the next steps in the process.

In our next blog post, we're going to take an in-depth look at the next steps your REALTOR® will take when selling your home once you've signed a formal listing agreement.

The Next Steps Your REALTOR® Takes Once You've Signed A Listing Agreement.

Once you've settled on terms, defined the agency relationship, reached an agreement, and signed your listing contract, your REALTOR will take the next steps. They will begin working in earnest preparing your home's MLS listing and begin organizing much of the legal paperwork and information needed when selling your home. 

Simultaneously, they will prepare your listing, take photographs, prepare a profile, organize and prepare your Property File and Property Listing File before moving on to the next step; entering your property in the MLS and developing a marketing strategy to maximize exposure for your property in the market. 

In this selling your home post, we're going to examine all of the steps your REALTOR® will take from the time you signed a listing agreement until it's time to list your home on the MLS and begin marketing your home.

Selling Your Home: Once Your Property is Under A Listing Agreement

Your REALTOR® will have done a lot of preliminary work even before you've signed a listing agreement. They will have conducted a significant amount of research to determine the status of your local market, pull together preliminary documents, determine legal statuses like ownership and zoning, and developed a preliminary marketing strategy. 

Now the work begins. Selling your home means pulling together the detailed information, data, and legal paperwork needed to prepare your MLS listing and compile your property listing file.

• Review your home's current title information.
• Measure overall heated square footage and interior room sizes.
• Confirm the lot size via the owner's certified survey, if available. Note any unrecorded property lines, agreements, and easements.
• Obtain and review house plans if applicable and available; make a copy.
• Order plat map for retention in property's listing file.
• Prepare showing instructions for buyer's agents and agree on a showing time window with the seller.

Once they have gathered the documents needed for the property listing file, your REALTOR® will gather your current financing information that includes:

• Obtaining the current mortgage loan information including companies, and loan account numbers.
• They will then verify the current information with the lender(s). 
• Check if the loan is assumable, and note any special requirements.
• Discuss possible buyer financing alternatives and options with you your home's current appraisal if available.

Selling Your Home: Dealing with a Homeowner's Association 

If your home is in a neighborhood with a Homeowner's Association, it may be necessary to adjust your sales plan to meet the HOA bylaws. Your REALTOR® will research and contact the HOA to verify fees and bylaws.

• They will identify the HOA manager if applicable.
• Verify HOA fees with the manager, including the mandatory or optional and current annual fees.
• Your REALTOR® will then order a copy of the Homeowner Association bylaws if applicable.

Preparing A Cost Analysis for Your Property: Calculating Utilities

The next step is to gather and analyze all utility information to include in the MLS listing and property listing folder. This is an important element of preparing a cost analysis for any potential buyers so they can understand your home's operating cost. This step includes the following tasks:

Research electricity availability, including the supplier's name and phone number.

• Research and verify city sewer / septic tank system.
• Research natural gas, verify the availability and supplier's name and phone number.
• They will then take this information and calculate average utility usage from the last 12 months of bills.
• Research your home's water system – if it's on city water, they will calculate usage and average water fees or rates from the last 12 months of bills. If your home has a well, they will confirm the well's status, depth, and output from the most recent well report.
• If you have a security system, your REALTOR® will verify the current term of service and whether it's owned or leased.
• They will also verify if you have a transferable Termite Bond and ascertain the need for a lead paint disclosure.
• To complete this series of tasks, your REALTOR® will prepare a detailed list of property amenities and assess the market impact. They will also prepare a detailed list of the property's "Inclusions and Conveyances with Sale" and compile a list of repairs and maintenance items.

If Your Property Includes A Rental Component

If your home has a rental component, your REALTOR® will complete this next series of tasks to prepare the information a buyer will need to assess the rental potential of your property. If there is no rental component, they may not need to take all of these steps. These tasks include:

• Your REALTOR® will send you a "Vacancy Checklist" if the property is vacant and will also explain the sales benefits of including a Home Owner Warranty in the sale.
• They will assist you with the completion and submission of the Home Owner Warranty Application.
• When the Warranty is received, they will place it into the property file for conveyance to the new owner at the time of sale.
• Your REALTOR® will verify if the property has rental units involved and if so, make copies of all leases for retention in the listing file.
• They will also verify all rents and deposits.
• A member of your real estate team will inform the tenants of the listing and discuss how showings will be handled.

The Final Steps Before Listing on the MLS

At this point, your REALTOR will take the final steps necessary for selling your home, including the preparation and staging of your home before it's officially listed in the Multiple Listing Service (MLS) databases. This includes:

• Making an extra key for the lockbox
• Arrange for the installation of the yard sign.
• Assist you with the completion of the Seller's Disclosure form.
• Complete their internal "New Listing Checklist."
• Review the final results of the Curb Appeal Assessment with you and provide suggestions to improve salability.
• Review the Interior Decor Assessment results with you and suggest changes to shorten "time on market."
• Load the listing into the transaction management software program.

Up to this point, you have a signed Listing Agreement, and your REALTOR® will have taken all of the necessary steps to gather the needed information to prepare your home's MLS listing properly. They will have all of the legal information necessary in the Property File and Property Listing File, which will include verified square footages, operating costs, utility information, and any additional information needed, for example, rental and lease data.

In the next selling your home blog post, we'll look at the next steps in the process of marketing and selling your home, which includes entering the property in the MLS Database and creating a marketing strategy for your property to build interest, drive traffic, and generate offers for your home.

Sustainable kitchen products are those that use eco-friendly materials, last longer, and are more easily recycled than traditional items. Buying these products has become more popular in recent years as more consumers consider the impact on the environment when they're making purchases.

Benefits of Choosing Sustainable Products

Our real estate agents know that there are many reasons why homeowners opt for sustainable kitchen products. Some of the top benefits include:

• Can be reused
• Can be recycled more easily
• Decomposes more quickly
• Longer-lasting
• Lower costs over time
• Lowers exposure to toxic substances

Sustainable Kitchen Products for Your Kitchen

Thinking of how to make your kitchen more eco-friendly? Opt for some of these products in your home.

• Metal Straws
  Plastic straws aren't recyclable, and paper straws – in addition to often disintegrating as you're trying to sip your beverage – are still a single-use item. Metal straws are environmentally friendly as well as being easier to drink through. Buy several different sizes along with a tiny brush for cleaning to stash in your kitchen and in your purse.
    
• Cloth Paper Towels 
  Instead of going through seemingly endless rolls of paper towels, buy a roll of durable, washable cloth towels. They come in an easy-to-use roll of perforated sheets just like paper towels, but they're lint-free and tear-resistant. You'll be able to make a roll of 75 sheets last for about 4 to 6 months.
    
• Reusable Produce Bags
  Plastic produce bags are made from fossil fuels, are only used once, and may never fully decompose. Make a sustainable choice by purchasing a set of mesh produce bags, taking them to the grocery store with you, and washing them when needed.
    
• Reusable Sandwich Wraps
  Skip buying single-use plastic and snack bags as you pack your lunch for work or your kids' school lunches. Buy natural beeswax wraps, which are more versatile since can be folded into various sizes of packets or baggies and reused.
    
• Stainless Steel or Cast Iron Pans
  Teflon pans are popular because of their non-stick properties, but they can easily become damaged and need to be replaced. They also release toxic chemicals when they become scratched. Skip the Teflon and instead choose long-lasting, healthier alternatives such as pots and pans made of heavy-duty stainless steel or cast iron.
    
• Soda and Seltzer Machine
  Instead of buying soda or sparkling water in cans or plastic bottles, invest in a soda and seltzer machine to satisfy your love of carbonation. This eliminates your need for single-use plastic bottles and aluminum cans since you reuse the carbonating bottle over and over again.
    
• Reusable Dish Brush  
  Skip buying disposable sponges, which don't last long and often come packaged in single-use plastic. Substitute a reusable dish brush, which lasts much longer and works just as well. Some have biodegradable heads that you can replace when they're worn out, so you won't have to buy a whole new brush.
    
• Glass Storage Containers 
  Chances are good that you have a variety of plastic containers in your kitchen cabinets. When it comes time to buy new ones, choose glass containers with bamboo lids. They're more durable, environmentally friendly, and won't get stained when you heat up spaghetti sauce or similar foods.
  
  
• Wooden Cutting Board
  Plastic cutting boards scratch easily, harboring bacteria within the cuts. Depending on how much you use your plastic cutting board, you could end up replacing it every few months. Maple or beech wood boards made out of a single block of wood are a much better choice. They can be easily cleaned with warm, soapy water and sanitized with a product like Simple Green. If your wooden board develops cuts over time, sand it down with fine-grit sandpaper before washing and drying it. Finally, rub it down with a bit of mineral oil, and you'll have a cutting board that looks like new.
    
• Reusable Oil Spray Bottle
  If you buy your cooking oil in an aerosol sprayer, switch to a reusable oil spray and mister bottle. You can use it with oils, vinegars, or similar substances, and since it's refillable, you won't be buying cans that will end up in landfills. In addition, since they're non-aerosol sprayers, these reusable bottles don't use chemical propellants.
    
• Wooden Cooking Utensils
  Swap your plastic cooking utensils like spatulas, spoons, and ladles for ones made of bamboo, wood, or stainless steel. You may wonder if you can put bamboo or wood utensils in the dishwasher, and the answer is yes, for many versions.
    
• Natural Air Fresheners
  Your kitchen can sometimes have lingering odors from cooking or trash. Instead of using chemical air fresheners, make your kitchen smell nice in a healthier, more sustainable way by simmering spices or aromatic plant oils on the stove. Grinding up a slice of lemon in your garbage disposal can also help keep your disposal and kitchen smelling fresh and clean.  

Looking for a brand new kitchen to enjoy for years to come? Contact us today if you're interested in buying or selling a home in New England.

Considering FSBO? Learn the Value of Using a REALTOR^®

Your home is one of the biggest investments you'll make in your lifetime. When it comes time to sell, some homeowners will take it upon themselves to sell their own home. This is known as "FSBO" or "for sale by owner." Over half of FSBO sellers (63%) choose to sell their own homes to avoid paying a commission.

Today, with Facebook marketplace, social media, and services like Zillow, many homeowners are under the mistaken idea that it's easy to sell a home. Just check the price trend on Zillow, and create a social media post, and your home is "sure" to sell. However, the fact is that unless you have experience selling homes, a FSBO listing is almost always a bad idea. It just might end up costing you in the long run. 

To properly and legally sell your home is not an easy task. There are nearly 200 typical actions taken when selling a home. They include research steps, processes, and review stages in a successful residential real estate transaction normally provided by a full-service real estate brokerage in return for their commission. Some may take minutes, hours, or even days to complete depending on the transaction, while some steps may not be needed.

More importantly, these actions reflect the level of skill, knowledge, and attention to detail required in today's real estate transaction. This underscores the importance of having help and guidance from someone who completely understands the process – a REALTOR®.

 In this post, we're going to take a general look at the key elements of a transaction that your real estate professional will address when selling your home. In future posts, we'll break down the steps in more depth.

Pre-Listing Activities

Your REALTOR will begin working on your sale, even before you've home is listed on the MLS. Before listing your home, a fair amount of research must be done. This includes researching comparable homes in your area, sales records for the previous 18 months, and "average days on the market" for properties similar to your home's style and location. 

• Your Realtor will also look into your home's public record information, including land use coding and zoning, and verify legal ownership.
• They then prepare a listing presentation for you using this and additional information, including an exterior "curb appeal assessment" on your property.
• They also take all of the information they have compiled and create a listing appointment presentation to sit with you and present their plans for listing and selling your home.
• The agent explains their role in taking calls to screen qualified buyers, present strategic marketing plans, explain different agency relationships, and determine your preferences.

Once Your Home is Under a Listing Agreement

Once you've signed a listing agreement contract with your REALTOR®, they will begin working in earnest to prepare your home's MLS listing.

• They will review your current title, measure the overall and heated square footage, confirm the lot size, and note any unpaid and unrecorded property lines, agreements, and easements. 
• Next, they will verify all utilities, including city water/sewer or septic system, electric availability, and natural gas. They will calculate all utility usage for the past 12 months. If there is a rental component, they will verify any rents, deposits, and leases and assist the seller with completing the seller disclosure form 74.
• Finally, in preparation for listing in the Multiple Listing Service database, they will conduct a Curb Appeal Assessment and Interior Decor Assessment. Upon reviewing the results, they will suggest changes to improve salability and shorten time on the market.

Entering Your Property on the MLS and Marketing Your Listing

As soon as your REALTOR® verifies all of your information, they will prepare your home's MLS listing and implement their marketing strategy to sell your home.

• They start by preparing an MLS profile sheet. Your agent is responsible for "quality control" and the accuracy of the listing data. 
• They will then enter your property data from the MLS Profile Sheet in the MLS database and check it for accuracy, including ensuring it is properly placed into the mapping function.
• Once this process is complete, your agent will provide you with signed copies of the listing agreement and MLS Profile Sheet Data within 48 hours.

When your home's MLS listing has been verified, your REALTOR® will begin implementing their marketing strategy for your home.

• They will create print and internet ads with your input. Post your listing on their website, social medial account, and prepare mailing and contact lists and prepare mailing pieces and flyers. 
• Your agent will regularly review comparable MLS listing to ensure that your property remains competitive in price, terms, conditions, and availability throughout the entire process.
• They will call you weekly to update you and discuss marketing and pricing.

When the Offers Come

This is where the experience of your REALTOR® shines. In today's market, you will likely receive multiple offers. When the offers come in, your agent will receive and review all Offer to Purchase contracts submitted by buyers or buyer's agents.

• They will evaluate the offer(s) and prepare a "net sheet" for you for comparison purposes. They will counsel you on all offers, explaining the merits and weaknesses of each component of each offer.
• Next, they will confirm that the buyer is pre-qualified and negotiate on your behalf, setting the time limit for loan approval and the closing date. They will also prepare and convey any counteroffers, acceptance, or amendments to the buyer's agent.
• When the Offer to Purchase is accepted, your agent will record and deposit the buyer's earnest money into an escrow account and begin to track the loan process as they work with the buyer and the buyer's agent to coordinate the home inspection process and schedule the appraisal.

Selling a Home: The Closing

If everything is approved and the home passes inspection, a contract is prepared and signed by all parties. Your agent will coordinate the closing process with the buyer's agent and lender to ensure everyone has all of the necessary documentation needed and schedule a time and place for the closing occurrence. 

• They will then confirm the date and work with the buyer's agent to schedule and conduct the final walkthrough before closing.
• Before the actual closing date, your agent will prepare all of the final figures, including tax, HOA, and other prorations, review all of the closing figures and provide the earnest money deposit check from the escrow account closing agent.
• Upon the closing, they will close out the listing.

Post-Closing Follow-Up

Even after your home is sold, your REALTOR® is working to ensure that the buyer is satisfied. They remain available to answer any questions they might have about filing Home Owner Warranty claims. They also remain available to clarify and resolve any conflicts about repairs if the buyer is not satisfied and respond to any follow-up calls for additional information your buyer might request.

Selling your home is an important milestone. Engaging a REALTOR® to handle all of the details is a smart decision. It's a fact that working with a real estate professional can help you get the best price for your home and make sure that all of the details and legal necessities are taken care of properly. 

Your real estate professional possesses the level of skill, knowledge, and attention to detail that's required when selling a home. They are there to guide you and protect your interests in an often complicated and sometimes complex transaction. And it's important to remember that your REALTOR® has pledged to uphold the stringent, enforceable tenets of the REALTOR Code of Ethics in all of their professional dealings with the public. Not every real estate licensee holds REALTOR® membership. Make sure yours does!

It's hard to believe spring is already here, and if you're like our real estate agents, you're probably getting ready for your annual spring cleaning routine. Clearing the whole house of clutter takes time, but if you break it down into manageable pieces - start by targeting items that you can throw away or donate right now. It is the perfect time to get rid of unwanted things you've accumulated throughout the year. While it can seem like a hassle, it's definitely worth the effort. After all, few things are as satisfying as a nice clean home.

Here is a quick jumpstart list to get you motivated. If you're getting ready to start your cleaning process, don't forget to throw out these items this year.

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What It Means To Be in a Sellers' Market

Home improvement shows can be pretty intriguing. With the exquisite finishes, the grand reveals, the hugs, and the grateful smiles, it's easy to get sucked into a five-hour marathon session of entertaining reality TV. Unfortunately, these shows can be misleading. They give viewers unrealistic expectations of what can be accomplished when it comes to remodeling, flipping, buying, and selling a home. Our real estate agents reveal 5 things that home makeover shows never tell you.

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A good way to create a focal point in your living room is to craft a gallery wall. One that is well done makes a home look inviting and helps tie the room together. This creative collage does require a bit of planning! The following guide will help you to create a stunning gallery wall you'll love to look at in your home.

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If you plan to put your home on the market, it's better to start your preparations sooner rather than later. Our real estate agents find that homeowners who complete home repairs and maintenance tasks are more likely to produce spaces that appeal to potential buyers. Follow this checklist if you plan to list your home this spring. 

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Sometimes the smallest change can make all the difference in the world. And if you've spent as much time at home in the last year as we have, chances are you're ready for a change!

Our real estate agents are here to help. These interior design tricks can make a huge visual impact and seemingly transform your space. They're also simple, affordable, and require a minimal investment of time and effort. Happy decorating!

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You don't have to be a master electrician to leverage light for maximum impact. Our real estate agents share easy lighting upgrades that instantly add value and visual appeal to your home.

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We're all spending a little bit more time indoors this year, so there really couldn't be a better time to start that DIY home improvement project you've been thinking about. From home renovations to simple woodworking projects, DIY projects can be fun and rewarding, and now is the best time to get started.

Investing in the right toolset before you begin will save you many headaches and trips to the hardware store. Our real estate agents thought it might be helpful to provide a list of tools we think you should have handy before you begin your next DIY project:

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Home inspections are an important part of the home selling process, and in some cases, they can complicate or even derail the sale. That's why it's important to understand exactly what a home inspection covers and how it can affect the pricing and sale of your home.

Our real estate agents share the following things that sellers should know about home inspections:

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The real estate industry is changing fast. There are many challenges, but our REALTORS® are excited about the opportunities. Sellers just like you around our community are finding out something surprising: Now is a terrific time to list your home for sale.

Yes! If you were waiting for a better market before you list, now's the time.

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If you find yourself spending more at home this year, your living space may be starting to feel a little cramped and claustrophobic. A comfortable living space is important, and studies have suggested small spaces can negatively impact your overall mood and mental health. Not only does more space equal more happiness, but it can also increase your home's overall value.

Luckily, when it comes to interior design there are simple ways to make your home appear more spacious. Our real estate agents have several tips for making your home appear more spacious. Whether you're looking to put your home on the market this year or simply looking to make things more comfortable, consider these design suggestions that can actually trick the eye into seeing more space:

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All you need is a little creativity, and you can transform that spare room in your house into your favorite place. Thinking of ways you can turn your spare room into a space for your family to enjoy? The following are five suggestions to consider.

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As a homeowner, protecting your largest financial asset should be a top priority, but many of us are guilty of turning the occasional blind eye when it comes to certain problems around the house. However, failing to take care of some seemingly small repairs can result in compounding problems and expensive repair bills down the line. Below are six home maintenance issues that you should never wait to address:

1. A Damp Basement 
   Water in the basement is not a problem to ignore. Not only can it lead to property damage and foundation deterioration, but it also creates a breeding ground for dangerous mold and mildew that can have a hazardous impact on air quality. The longer the problem is ignored, the more time the mold and mildew has to grow. The first step to resolving the issue is to figure out how the water is getting in. A damp basement could be a sign that water is pooling near the foundation of your home. If this is the case, you may want to reevaluate your landscaping and check your gutters and downspouts. Worst case, you may need to install a drain tile.

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Staging your home is an important step to take before putting it on the market. It helps your real estate photos look more appealing, which brings potential buyers inside your door. And once the buyers are there, a perfectly staged home lets them visualize their family living happily in your home. Home staging mistakes, however, can have the opposite effect.

Our real estate agents point out the following common staging mistakes you might be making in your home. 

1. Failing to Start with a Plan
   Start your home staging process by having a plan and strategy. Keep in mind who your home is likely to appeal to and stage your home accordingly.
   
   
2. Neglecting to Make Improvements
   Making quick, inexpensive improvements to your home and fixing major problems that can't be ignored are important to prospective buyers. The most beautiful, appropriate staging won't hide maintenance issues that need to be addressed.
   
   
3. Ignoring Your Home's Lighting
   A home with lots of artificial and natural light will look brighter and cheerier than a dark one. Take down dark or heavy window treatments and replace them with ones that let the light shine through. And add cool LED lighting to any space that has fewer than four lights.
   
   
4. Too Much Furniture
   Including some furniture in your home staging is a good idea. Just make sure you don't have too many pieces since it can make your home seem small and crowded.
   
   
5. Failing to Clean Thoroughly
   Even the nicest, best staged home will turn off buyers if it doesn't look and smell clean. Deep clean all areas of your home including your floors, windows, entryway, and garage floor.
   
   
6. Keeping Things Too Personal
   Your home should have a neutral palette instead of boldly colored paint, furniture, and flooring. Personal items such as photos should also be removed and replaced with geometric artwork or something similar.
   
   
7. Making Your Home Decor Overly Neutral 
   Neutral decor is important, but too much of it will make your home seem drab and unforgettable. Include some visual contrast by adding a pop of color with items like a decorative pillow, rugs, and wall art.
   
   
8. Neglecting to Paint
   Paint looks dreary over time, so a fresh coat can help make a home look and smell new. This not only applies to your walls but also your ceilings.
   
   
9. Misplacing Your Furniture
   Don't place furniture like couches and chairs up against walls or hiding in corners. Instead, move them a few feet away from the wall so you create natural pathways. Just make sure you don't create any barriers to a natural traffic pattern.
   
   
10. Ignoring the Outdoors
    Taking care of the inside of your home is vital, but don't neglect the outside of your home. Outdoor areas that are well-tended show that you're taking care of your home. Take a little extra time and effort to add some touches such as a bistro table.

Contact us to learn more about how to avoid staging mistakes so you can present your home in the best possible way. Our agents have a great deal of experience buying and selling homes and can advise you on how to stage your home to attract buyers. 

Have you always dreamed of having a beautiful backyard patio where you could enjoy your summer days and nights? You're not alone! Our real estate agents often hear from buyers who have added a great backyard to their list of "must-have" home features. 

The good news is, it's fairly easy to add or upgrade a patio, even if you don't have a ton of outdoor space. The following seven tips will help you make your dreams come true! 

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Did you know that air pollution isn't just an outdoor issue? There are many factors in your home that can negatively impact your indoor air quality. 

Luckily, there are relatively easy things you can do to improve the air quality of your home. 

Our real estate agents have a few tricks up their sleeves. Use these tips and tricks to improve your indoor air quality!

1. Eliminate Pollutants
   One of the most important steps to improving indoor air quality is to eliminate pollutants at their source. This includes using non-toxic, fragrance-free household cleaners and detergents, replacing chemical-based air fresheners with essential oil diffusers, and utilizing non-toxic extermination methods to get rid of pests. Be sure to also check for and eliminate mold in kitchens, bathrooms, basements, and any other moisture-prone areas. 

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Warmer temperatures have arrived, and it's time to get your house ready for the new season. Whether you're happy in your current space or want our real estate agents to help you find a new home, a little spring cleaning will help your home put its best foot forward. Instead of sticking to your normal spring cleaning tasks, make sure to turn your attention to items that are commonly overlooked. Here are a few tasks to put on your spring cleaning checklist. 

1. Clean Your Mattress
   Over time, dust, dead skin, and other debris settle into your mattress. Strip your mattress of its bedding and break out the vacuum cleaner. Feel like your mattress needs a little extra deodorizing? Sprinkle a little baking soda on your mattress and let it sit for a few minutes before vacuuming. This will remove any old, set-in odors. If your mattress design permits, spring is the perfect time to flip your mattress over so that it wears evenly. Should you have a pillowtop mattress, just rotate it, so the top part is at the bottom of your bed, and the bottom part is at the top part of your bed. 
2. Sanitize Your Tech Accessories
   Your tech accessories, like your remote controls, headphones, and gaming controllers, are some of the most touched items in your household. Take a few minutes and wipe each one down with a damp sanitizing wipe. Out of wipes? Dip a cleaning cloth in equal parts rubbing alcohol and water until its damp. Use a moistened q-tip in the tight or narrow areas around buttons and indentations.
3. Declutter Your Seldom-Used Storage Spaces
   It's easy to overlook the overflowing closets and bulging storage bins in areas that you seldom use, like your attic, garage, and guest bedrooms. However, it's important to make decluttering these spaces a priority so that you don't wind up with an overwhelming mountain of stuff. Once you get rid of some unneeded items, it's much easier to clean the space. Not sure what to get rid of? A good rule of them is to throw out, sell, or donate non-seasonal items that you haven't used in the last six months. Or, if an item doesn't fit your current lifestyle, it's okay to let it go.
4. Spray Off Your Window Screens
   Make sure that a lovely spring breeze doesn't blow dust and allergens throughout your home by cleaning your window screens. Remove each screen from its window. Mix a little dish detergent with water and use a soft cloth or brush to clean your screens. Rinse thoroughly with water and blot the screen dry with a towel. Depending on the size of your screen and the layout of your, you can use your bathtub or an outside area and your water hose.
5. Clear Out Your Gardens
   Don't forget to clear out your gardens! Your flower gardens are one of the first things visitors see when they arrive at your home. Dead, decaying plants will detract from the look of your healthy, blooming flowers. In addition to dead organic matter, take a few minutes to pull any weeds, grass, or plants that don't belong in the space. 

Feel like you've outgrown your current home? Contact us today to explore your options. 

Every day that passes, people have a need to buy and sell homes. That doesn't stop during the current pandemic. If you've had a major life change recently, whether with your job or your family situation, you may be in a position where you need to sell your home – and fast. While you probably feel like timing with the current pandemic isn't on your side, making a move is still possible. Rest assured, with technology at your side and fewer sellers on the market in most areas, you can list your house and make it happen safely and effectively, especially when following the current COVID-19 guidelines set forth by the National Association of Realtors (NAR) and the Centers for Disease Control and Prevention (CDC).

You may have a new baby, a new employment situation, a parent who moved in with you, you just built a home that's finally ready to move into, or some other major part of your life that has changed in recent weeks. Buyers have those needs too, so rest assured that someone is likely looking for a home just like yours.

According to the NAR Flash Survey: Economic Pulse taken April 5 – 6, real estate agents indicate, not surprisingly, that there's a noticeable decline in current homebuyer interest. That said, 10% of agents said in the same survey that they saw no change or even an increase in buyer activity. So, while buyer interest is low compared to normal spring markets, there are still buyers in the market. Don't forget, you only need one buyer – the right one for your home.

Here's the other thing – people are spending a lot of time on the Internet right now, given the stay-at-home orders implemented across the country. Buyers are actively looking at homes for sale online. Some of them are reaching out to real estate professionals for virtual tours and getting ready to make offers too. Homes are being sold in many markets.

There Is Less Competition Right Now

The same survey indicates that 56% of NAR members said sellers are removing their homes from the market right now. This can definitely work in your favor. If other sellers are removing their listings, your home has a better chance of rising to the top of a buyer's search list and being seen. Keep in mind, listings will pick up again soon, as 57% of the respondents note that sellers are only planning to delay the process by a couple of months. If you need to sell right now, don't wait for the competition to get back into the market again.

This year, delayed listings from the typically busy spring season will push into the summer months, so more competition will be coming to the market as the pandemic passes. Getting ahead of that wave now might be your biggest opportunity.

Your Trusted Real Estate Advisor Can Help

Real estate agents are working hard every single day under untraditional circumstances, utilizing technology to help both buyers and sellers who need to continue with their plans. We're using virtual tours to show homes currently on the market, staying connected with the buyers and sellers through video chats, and leveraging resources to complete transactions electronically. We're making sure the families we support remain safe and can keep their real estate needs on track, especially as life is changing so rapidly.

Bottom Line

Homes are still being bought and sold in the midst of this pandemic. If you need to sell your house and would like to know the current status in your local market, contact our expert real estate professionals to create a safe and effective plan that works for you and your family.

Whether you are making improvements to your living space or preparing to sell, home improvements are a valuable investment in your property. Our real estate agents are available to go over home improvement suggestions to help make your home more attractive to potential buyers. But there are numerous home improvement projects that you must leave to the professionals.

Without a specific skill set, experience, and specialized tools, some home improvement projects can be dangerous to try yourself. Besides, without proper training, you may spend more time and money on your remodel. Here's a list of home improvement projects you should leave to the professionals.

1. Electrical Work
   One of the top items to leave to the professionals is electrical work. Rewiring sockets, adding lights, removing old fixtures, or installing a home theater system may sound easy. If not done correctly, your work may result in a dangerous fire hazard. Not to mention, you risk personal electric shock if not done correctly. A professional has the knowledge and equipment for fast installation and energy efficiency.

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You've decided to sell your home, and now want to show it off to potential buyers. More potential buyers are attending virtual open houses and showings to find their dream home from the comfort of their current residence. Just because they won't be there in person, doesn't mean you can skip vital steps in presenting and staging your home. Our real estate agents compiled a checklist for a virtual open house, so your property stands out from other New England homes for sale. Make sure to do these things before your virtual open house or showing. 

1. Eliminate Clutter 
   Virtual open house attendees will want to see every room and every angle. So clutter has nowhere to hide! Box up and remove as much as half your belongings so that the home seems more spacious. Give away what you can, and store the stuff you want but don't need in a storage unit. Hosting a virtual open house in a cluttered home can deter buyers.  
2. Remove Personal Items 
   Even if you're not ready to empty your home, at least make personal things vanish. That includes pictures and collected items so potential buyers can envision their own lives in your home.

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With a few small changes, you can transform your bathroom from blah to beautiful. Remodeling your bathroom can have a significant impact on how much you enjoy your home, and it's also a project that can increase your home's resale value. 

Our real estate agents suggest the following seven bathroom remodeling ideas you'll want to try:

1. Maximize Your Space 
   If you have a small bathroom, design the space with the idea of making it look larger. Installing glass doors for showers and tubs creates an open look, and you can also choose a pedestal sink since it will take up less room than a sink with cabinets underneath. If you still need storage, use racks that fit above the toilet.
   
   
2. Update Your Fixtures 
   For comparatively little money, you can update your bathroom fixtures such as light fixtures, faucets, towel racks, and drawer pulls. These will give your bathroom an updated look and make a larger-than-expected difference in its overall appearance.
   
   

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Although it might be a cliche, there's truth to the old saying, "A picture is worth a thousand words." This is particularly true when you're trying to sell your home. The truth is, most potential home buyers start their search online and will decide whether they're interested in your house before they even see it in person. That's why our real estate agents always stress the importance of staging your home the right way. 

Not only will great staging make your home stand out from the sea of other houses online, but it will also make the interior warm and inviting when potential buyers do decide to visit. While staging a home is fairly straight-forward, it's important to understand the basic principles, especially before you get your real estate photos done. Follow these tips, and you'll be off to a great start. 

1. Clean Up the Outside
   The front of your home creates the first impression, so it's important to make it look as inviting and well-cared for as possible. Plus, more than likely this will be the first photo potential buyers see online. Prepare this space by removing your vehicles from the driveway so potential buyers can get a good view of the house and the parking area.
   
   Also, make sure you remove garbage cans from the front of the home and put away bicycles, toys, and lawn tools. Finally, make sure to mow the lawn, edge sidewalks, and walkways, and sweep up lawn clippings.  

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Winter elements present a challenge for curb appeal. Unless it's within the first hours after a fresh blanket of twinkling snow has fallen, cold weather can leave properties barren and debris-ridden. While you won't be able to get blooms growing in your garden, there are some things you can do to boost your curb appeal this season.

Keep pathways clear

From the driveway to the front door, the sidewalk to the garage, and areas surrounding the back yard, all pathways should be clear of snow, ice and debris. Cleared pathways also make a home appear cleaner and more well-kept than properties that haven't seen a shovel. Picking up snow will ensure prospective homebuyers can safely navigate the home and back yard. Always have a shovel on hand and use it before any showing.

Keep the winter equipment hidden

Leaving a shovel on the front porch allows homeowners to easily clear a pathway. No matter how practical it is to keep the winter equipment and tools handy, keep these items hidden when trying to increase curb appeal. This is especially true if the items are taking up space on the front porch or can be seen from the road.

Forbid the snow fort

If you have little ones in the home, it can be hard to keep them from building a snow fort. While most people will smile at the idea of a child's creativity, it could prevent interested parties from seeing the home as a blank canvas for their family. Keep the front lawn clear of snow forts and snowmen. The same rule should also be applied to holiday decorations. While an inflatable Santa Claus may seem like a great way to bring attention to your home, it can be more of a distraction than anything else.

Keep the exterior lights bright

Potential homebuyers often drive past homes for sale to check them out prior to investing their time at a showing. If the exterior lights aren't on, they will drive right by without thinking twice. It is important that the outdoor lighting shines brightly and is in working condition at all times. One flickering bulb or dimmed light can make a home appear unkempt.

Make your home appealing this winter with these tips for stellar curb appeal.

Get in the Zone…Well, Safety Zone comes to mind if you are in the middle of a mess, but we're talking about creating zones in your home that create a feeling and a purpose to every space you live in.

New to staging? No problem! Here are a few quick tips to get your started!

Dive in to a Deep Clean

"Remember staging your space is putting your home's best foot forward so that you can reap the benefits", explains Interior Designer, Erika Gaudreau.

The first step isn't fun, but it's a must! Dig in to a deep, deep clean (if you haven't already read our first three blogs in our "Clean Up Series", check it out for some key clutter busting tips). We're talking power washing the outside, clean all inside surfaces, scrubbing grout, cleaning windows, steaming carpets and all. It's worth hiring a pro, if necessary.

Staging can be as Easy as Moving Furniture!

The three most important rooms to focus on are the living room, master bedroom and kitchen. Taking these spaces to the next level could be just a matter of moving the furniture you already have, getting rid of extra pieces or renting what you need to create a space that will sell buyers – literally!

Create More Space

Place living room furniture away from the walls (this creates the illusion of more space, we promise) and bring it all together with a beautiful area rug. Make the space into an area where you can envision family and friends sitting and hanging out comfortably together.

Focus on a Focal Point

Highlight one area or unique feature in each room. Just one. Work with the furniture you have and strategically place everything to highlight the positive. Place pieces across from new, bright windows to show off the natural light or an out of this world view. Does your living room have a fire place? Face furniture towards the hearth – it will draw wondering eyes to what you want them to see!

Out with the Old…

Say Goodbye to the couches you've owned for 12 years. Worn furniture gives the impression that the home is not well kept. While you're at it, oversized furniture can go too. You want to create more space, don't take up your entire room with a giant couch. This rule goes for any lamps, tables and odds and ends that are not being used. Throw additional items in storage or get rid of them for good (who wants to move unused items anyway).

…In with the New

Rent or buy furniture to enhance what you have!

Extra room or finished basement? Purchase, borrow or rent an inexpensive bed, nightstands and bureau. Voila! You have a guest bedroom! Dress the bed with a big, soft, gender-neutral comforter and add some decorative pillows and a cozy throw.

If you're wanting your living room space to feel casual, opt for a new sectional sofa and a cozy recliner. Going for formal? Two matching sofas or beautiful sofa and two classy arm chairs across from each other with an elegant coffee table placed in the middle will do the trick. 

One Word: Nostalgia

What are your favorite things about where you live? Do you have bike trails? Do you have a bay window that overlooks a gorgeous garden or body of water? You want home owners to feel an emotional connection to your home and all that it offers (beyond the space), after all, they'll want to create their future memories there! 

"I bought a $200 vertical bike rack when we listed our home in Boston just so people could imagine commuting into the city or grabbing the bike for a ride along the Charles. You're creating an environment people can see themselves in" suggests Gaudreau.

Just like adding a bike rack, highlight that bay window by keeping the curtains and shades wide open, add lots of pillows, a book or two and a beautiful blanket. Make memories for the house hunters they haven't even thought of yet.

Ready to get rearranging? Staging can be a lot to take on, but remember, it can also mean less time on the market and more money in your pockets. Cha-ching!

If you're anything like the typical couple or family getting ready to sell your home, hiding clutter is your idea of cleaning before a home showing. We know – throwing some clutter in a few bins and storage solutions is a go-to quick fix for emergencies (see our first post in this Clean Up series), but cleaning up and getting rid of the stuff you are just shuffling from spot to spot is key – especially if you're getting ready to move!   

• Marie Kondo your home. Yep, I said it. Does it bring you joy? Nope? Say goodbye. There is no need to keep items that are just taking up space. Having trouble parting with items? Decide where you can donate them. A children's home? Homeless shelter? Local school/community center? Donating items will help you part with them a little easier.
  
  
• And just like our friend Marie Kondo would say…tidying starts with your closets! Empty each closet out and create piles to "Keep", "Donate", "Throw Away".

"My rule on clothes? If you haven't wore it in a year, get rid of it!" says Erika Gaudreau, Real Estate Agent/Interior Designer.

• Don't forget the coat closet! How many coats do you actually wear? Lots of Coat Drives take place before winter weather sets in. Donate your unused winter coats to someone who needs it.
  
  
• Set aside items that are in re-sellable shape in a bin or portable closet. Price these items as you go through them. Host a yard sale and make some extra cash to use towards something you need in your new house!
  
  
• Do you hoard cleaning rags, drop cloths or towels? As you fold your laundry, have a trash basket nearby, anything in less than great shape – toss! Including most of your cleaning rags. Less to pack up! Plus, you may want new towels to match the new décor in your new home! How many times can we say "new"?
  
  
• Remember to clear out the pantry too!

"That panini grill you got as a wedding gift that's still in the box? Toss it. No one will know" Gaudreau continues, "unused items just take up usable space."

Discard any small appliances collecting dust, outdated food items, opened spices, sauces, flour, etc. that have been sitting on the shelves longer than you can remember!  Plus, home buyers will want to SEE your pantry, so, be sure it is organized and not stuffed to the brim.

So, how do you KEEP it all CLEAN for GOOD?

Part of the stress of selling a home is keeping the home you're living in clean – consistently.

• Set a timer for 10 minutes and spend that amount of time picking up/cleaning one room. It can be one room a day, or 10 minutes per each room a day.
  
  
• Sort mail and paperwork the second it gets in your pretty little hands. Stand by the recycle bin and toss junk mail and unwanted papers before you even enter your home. Pay and file away bills/invoices and other important paperwork in labeled file folders. Store folders in a file cabinet or drawer for safekeeping that's out of sight.
  
  
• Have designated spaces for everything, and make sure that place makes sense. Coffee mugs should be in a cabinet or shelf by the coffee maker, chargers should have a home at a charging station on your desk. Important paperwork should be kept in labeled folders in a file cabinet. Cooking utensils, pot holders and recipes should be near the oven and easy to grab, quickly. Toys and children's books should be all in the playroom or a designated play space. See where we are going with this?

Cleaning is CONSTANT.

As you may have guessed, decluttering is more than a one-time deal. It's something you have to keep up with in order to keep things in order. When the entire family is home, set aside time to all focus on cleaning up. Give each person a specific job before they enjoy free time…grown-ups included! Albert Einstein once said; "Out of clutter, find simplicity." 
Decluttering will give you the peace of mind you never knew you needed. So, as you prepare to pack and move into a new space, really dig in and dig out of the mess that may be holding you back! Moving won't seem like a huge hurdle when you have fewer things to pack - and unpack!

You've Cleared all the Clutter... now All Hands-on Deck! Parents, get kids in on the clean up before moving out!

Promise, they can help (after they have a meltdown because you asked them to do something other than play Minecraft)! Getting kids involved in your family's home-selling plan gives them some control and makes them feel they are part of the process. It is important to keep rooms, especially bedrooms, picked up before you have an Open House or home showing because we all know; less clutter shows off your space and most buyers are looking for bigger and better! If potential new homeowners see objects scattered around, taking up desks, counters, etc. they will assume the home is too small or it doesn't offer enough storage options. Not to mention, they can't visualize their family's stuff in the home either! So, get your cleaning crew (this is your family, by the way) ready! Here are 5 tips to get your kids to help clean up – quickly!  

1. Everything's a game! Have them tackle the' playroom (or wherever toys are hanging out). Ask those angels to clean up the red toys first, then blue, etc. Another way to make clean up less overwhelming is to separate toys by type too – blocks, vehicles, balls, the list goes on! Have them pick up one grouping at a time.
   
   
2. Music Maestro! Put on their favorite tunes and tell them the person who picks up the most toys by the end of the song, WINS! Or – just enjoy a dance party while picking up! Music makes every chore fly by.
   
   
3. Everything has a home…Ask them to put scrap paper, markers, dolls all in designated bins and place books back in the bookshelf. Use pictures to show what belongs in each bin or bag so small children can easily help put them away. If you have specific spots for everything, clean-up is easier – and faster!
   
   
4. Are kids hesitant to help? Tell them anything left on the floor after the 10-minute timer blares will be whisked away and donated to a child who will take better care of their toys. Having a big ol' trash bag in your hands really helps get the point across!
   
   
5. Say "Goodbye"! Next time the kids clean up, ask them to set aside toys they feel they have outgrown or they don't play with anymore. Have the kids decide where they would like to donate their toys and have them tag along with you to help bring the bags of goodies to a children's home or shelter. Some fire stations accept gently used stuffed animals to help comfort kids in crisis too! Getting rid of the extra toys and unused games now before you start packing, will make your move a lot easier!

In general, after playing with toys or games, always clean up before moving on to the next activity. Practice this every time they play so the expectation of picking up is always there. This will become a habit and not a chore…and it will be super helpful when it comes to keeping your new home tidy!

Now that the kids are on board, check out the next post in our cleaning series, Clearing out Clutter for GOOD.

Owning a home and having people live in it are two completely different things, right? If you're like most people, panic sets in when a friend suddenly decides they'll stop by in an hour…even worse…if your home for sale and you have a last-minute showing (Yay for potential buyers, though!). You are well aware that a day wouldn't be long enough to clean up the clutter scattered throughout the floors let alone a measly hour, so now what? Before you tackle what seems to be an impossible task, here are some tips that will have you on the fast track to a tidy home (even if you have to fake it).

SURPRISE! Your house needs to be picked up…NOW!

No one knows the stress to impress like home-sellers! For a surprise last-minute house showing with potential buyers (or any unexpected visitor) you just can't say "no" to, here are a few tools and tricks that will help you hide away clutter before guests knock on the door! 

• Invest in hide-away furniture! I am not talking about a hide-away bed, either! Storage ottomans are a man and women's best friend. Throw toys, blankets, etc. in there to hide clutter FAST!
  
  
• Baskets, baskets EVERYWHERE! Keep baskets on your steps and label one for each family member (including your spouse). Collect their clutter and toss the person's items in their respective baskets. Each family member needs to bring their basket up to their rooms and put the items where they belong. Move it, people!
  
  
• Speaking of baskets, baskets and bookshelves offer the perfect combo to put away small items in a hurry. Invest in pretty, coordinating baskets and use them to store (eh hem - hide) small toys, board games, remotes, Legos (ugh, the LEGOS), magazines – the list goes on. Keep things looking neat by adding colorful cubes with chalkboard labels for quick reference! This not only will look great when you are showing your home to sell but baskets with covers (or stackable containers) are easily portable when it comes to moving day!
  
  
• Behind closed doors…Armoires are great in the bedroom, but this statement piece can work as a beautiful piece of storage furniture too! You can just shove items on the shelves and CLOSE the DOORS (thank you, doors)! Keep one in the kitchen to store bowls, glasses, towels, etc. especially if cabinet space is limited. The living room is a great spot for this piece of furniture too! This large, glorified cabinet can store family games, cards, books, even extra sheets and pillows for guests. Clear, stackable bins that fit on the shelves work great for keeping things in their place and finding them quickly too!
  
  
• Hiding spot = CHECK! If you're lucky enough to have a few good closets, keep a large storage bin in each one – if there are items or a few things scattered on the floor that need a hiding spot, fast – toss them in the bin until you have time to find a home for it all. Warning! When selling your home, potential buyers peek in the closets (guilty as charged), so keep them as neat looking as you can! The neater they are, the larger they look which is a turn-on for your next homeowners!
  
  
• Keep small decorative laundry baskets in each bedroom. This will help keep clothes off the floor, hopefully, and help keep laundry separated for the designated launderer. Plus, if you are showing your home, do you really want future homeowners or renters to see your unmentionables scattered about?
  
  
• If a miracle happens and you have extra time, run the vacuum (after all, everything is finally off the floor). A quick once over on the wood floors and carpets brightens up the place!

Take a second and catch your breath. Now that you've rested (that was fast, right?), you must find some energy to really clean and organize your home - for good - at some point. Sorry to burst your bubble! Cleaning up comes with moving out. You don't want to pack up anything that will sit in storage and collect dust. 

May the odds be forever in your favor.

Before you tackle the bigger project at hand, check out the next post in our series, The Ultimate Challenge: Cleaning with Kids!

The holiday season is a wonderful time of the year. If you're like many homeowners, you look forward to adorning your home inside and out with stunning decorations, dazzling lights, and holiday cheer. However, when you're hoping to sell your home during the holiday season you may run into a bit of a problem — how do you decorate your home?

In December, New England turns into a winter wonderland, and it's expected that home sellers will want to decorate their house before they wave goodbye. Our REALTORS® understand that you want to make the best decisions for your property while still enjoying the last few weeks in your home. We've gathered together these tips on staging your home for sale during the holidays so you can celebrate the holiday season while still properly presenting your home.

• Focus On Everyday Presentation
  November through January is quite a whirlwind for many families. However, you still need to prioritize your home's presentation regardless of the holiday season. You interior needs to look and smell clean while your exterior should be tidied up as well as possible. Remember, potential buyers will look at every detail of your home.
  
  
• Minimize Religious Décor
  While it is common to see many examples of religious decorations throughout New England homes, we caution our home sellers to avoid displaying these pieces. We never want to offend any potential buyers or their beliefs which is why we insist that you respectfully keep religious decorations stored.
  
  
• Use Seasonal Décor Instead
  Even though you need to store your religious décor, you can still happily decorate with seasonal pieces. Nature-inspired decorations or those which symbolize the winter or harvest season are safer ways to jazz up your home in a neutral way.
  
  
• Consider Coziness Over Clutter
  Close your eyes and think of the winter season — there's a good chance that nights around the fireplace, hot cocoa, and warm blankets enter your mind. You can create a cozy and seasonal-appropriate atmosphere in your home without putting up too many decorations. Consider toning down your decorating to declutter your space and instead focus on achieving a welcoming, warm, homey environment.
  
  
• Don't Cover Up Important Features
  Keeping your space decluttered is important, especially when it ensures that notable features of your home are still showcased appropriately. For instance, although you may convert a nook into a Christmas tree display, we suggest leaving the space as it normally is. You want the buyers to view the top elements of your home in a context which allows them to imagine their possessions in the space.
  
  
• Don't Disrupt Your Color Scheme
  It's not uncommon to use a variety of bright and beautiful colors in your decorations. You must also be aware of how these colors might impact the look of your home's existing color scheme. Silver and gold are normally able to blend with other colors, but bright reds, greens or multi-colored items could clash with the colors of your walls, furniture, and décor. We suggest limiting colorful banners or garland.

Decorating correctly for the holidays when you're trying to sell your home can be a difficult task. For more advice on making your home's presentation, look as professional as possible during the holiday season, contact us.

Before you think about selling an inherited property, there are things you can do to get ready. A step-by-step approach helps you avoid spending too much money or waiting too long before you take action.

Our real estate agents have consulted many clients who want advice after inheriting a home. While it's true most inherited homes eventually go on the market, it's important to take your time and make an informed decision.

Here's how you can make the most of your time and make the best choices:

1. Cancel (Most) Recurring Bills Relating to the Home
   First things first, it's crucial to minimize the amount you pay to maintain the property. You can start by cutting out things like the internet that won't get any use while a home is vacant. If possible, leave the electricity and water running – these make it easier to show the home to buyers in its best light. If you have a security system, keep it running so the home will be protected.

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Our real estate agents understand there are many reasons you may not be able to purchase the home you want right away. The most common reason is that you want to wait until your home has sold. The fact is most buyers don't want to close on a new property until they have completed the sale of their current home. When a seller accepts your contingent offer, you will have first-right-of-refusal to either purchase or pass on the property.

Contingent Sale Offers

There are many types of contingent sale offers, including appraisal contingencies, mortgage approval contingencies, and inspection contingencies. The most common are sale and settlement contingencies, which are used when a prospective buyer's home is on the market, but an offer has not been received. The second most common is a settlement contingency which is for buyers whose home is under contract but has not closed.

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You're full of eager anticipation when you put your home on the market, but there comes a time when you have to admit it's not selling. Our real estate agents have successfully helped many sellers overcome roadblocks to closing a deal. Here are 10 common reasons why your home may not be selling as quickly as you'd hoped.

1. Overpriced
   When looking for reasons why a home isn't selling, price is the obvious starting point. Even in a seller's market, the price has to be consistent with the value of the home in relation to those around it. Research the sale price of other homes in the area and make sure you're not being too aggressive.
   
   

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Our real estate agents know the roof is one of the most important parts of any home. Not only does the roof protect your well-being and comfort, but it also safeguards the entire structure.

When there are problems with the roof, it can create a domino effect that leaves the rest of the building vulnerable. Ultimately, a damaged roof can even lead to cracks in the foundation.

In a world of increasingly wild weather, it's never been more essential to have a durable roof. And with New England winters being what they are, a major leak is the last thing anyone wants.

So, when it's time to sell your home, it's vital to ask the question: Should you repair the roof?

Roof repair is something many sellers want to avoid. Although it can raise the sale price of your home, you won't usually recover your entire investment. However, there are some situations where getting roof repair done early on will help you out in the long run.

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Our real estate agents have gotten plenty of questions lately about selling homes that are already empty. It's true: Selling a vacant home may present unusual challenges for the owner.

A vacant home can be more difficult to stage for your future buyers – and it's also tougher to keep it safe from thieves and vandals. Still, showing a vacant home might be unavoidable if your plans include moving before you have closed on the sale.

By taking a few extra steps, you can keep your property protected:

1. Inform Local Law Enforcement
   Your local police are your best allies when it comes to keeping a vacant property safe. When you inform the police department about your plans, it means officers can be extra alert for anything unusual that happens around the neighborhood. Even a brief check-in by officers may be enough to persuade a would-be thief to choose a different target.

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Buying a new home is exciting, and if you have just done so, you're probably very eager to get into that house and get started making it a home. However, before you can get to that part of things, you'll have to get through the moving process. That process will be easier if you spend some time thinning out your stuff before you begin packing it up. Our real estate agents know that, for most of us, this is easier said than done, so if you're not sure just where to start, here are ten ways to purge before you pack:

1. Sort your clothes – Getting prepared for the easiest possible move means biting the bullet and getting rid of clothes that haven't seen daylight for ages. Sort through your closets and dressers and purge anything that hasn't been worn in the past year.

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It's no secret that life's been pretty good to sellers for the past several years. Even if you had no need—or desire—to move, the housing landscape might have seriously tempted you to put your house on the market anyway. After all, it's hard not to see visions of dollar signs when your neighbors are unloading their homes for tens of thousands over asking price.

But as they say, all good things must come to an end. And you've probably heard that the white-hot housing market of years past is finally beginning to cool.

So if you haven't listed your home before now, did you miss the boat? Absolutely not. But with each passing month, the experts say, you can expect the housing climate to shift a bit more in buyers' favor.

"It's definitely still a seller's market in most of the country. But it's not the same seller's market that you saw in the last couple of years," says Danielle Hale, chief economist of realtor.com®. "You might have to think about how your home compares to the competition that buyers are going to see when they're shopping. And you might have to price a little bit more competitively, or think about other enticements to attract buyers."

There's still a chance to cash in for top dollar, though, if you move quickly. Here are the biggest reasons to sell ASAP in 2019.

1. You won't be the only listing for long

The top reason sellers have been in the catbird seat for the past several years? Inventory. There simply weren't enough homes on the market to keep up with buyer demand. And when a "For Sale" sign did go up, you can bet a bidding war would soon follow.

"You might have been the only listing in your neighborhood, and you could put your home up at a certain list price and you would likely see multiple offers at or above that list price," Hale explains.

That tide is turning this year, Hale says. That's because the number of homes for sale is finally increasing, albeit slowly. For now, buyers still outnumber inventory. But if you're thinking about selling and don't want to compete with your neighbors, it'll pay off (literally) to list earlier rather than later. (This is particularly true in pricier markets, where inventory is increasing at a faster rate than more affordable areas.)

"It's going to depend on what neighborhood you're in, but we expect it to be more common this year that you won't be the only listing," Hale says.

2. You still stand to make a 'handsome profit'

Home prices have been on a meteoric rise for the past seven years. In January 2012, the U.S. median home price was $154,700. Today, that figure has nearly doubled—to $289,300—and sellers have rejoiced.

Now comes a twist: 15% of all home listings saw price cuts in January, according to realtor.com data.

That might sound like bad news if you're thinking of selling. But hear us out: Those moderating prices, combined with today's mortgage rates (more on that below), mean increased buyer demand for your house.

Plus, it's not that home prices aren't still increasing—they're just not increasing at the frenzied pace of previous years, which often featured multiple offers at or above asking price, Hale says. So even though you might have some more competition as a seller, things are still looking pretty sweet for you when it comes to cold, hard cash.

"Even if you don't get an offer above your asking price, you're probably still going to come away with a handsome profit from being a seller in 2019," Hale says.

But again, it'll pay to put your home on the market as soon as you can—before conditions change.

"Sellers who list their homes earlier in the year tend to get a higher sales price, often above list, and shorter days on market," says Ali Wolf, director of economic research at Meyers Research.

3. There's high demand for homes under $300K

There's more good news if you own a home below the national median price of $289,300. Not only is that inventory increasing at a slower rate than its luxury counterparts, but there are more buyers shopping at those price points.

"If you're a below-median-price seller, you will see a seller's market that is as good as what you saw in previous years—maybe even better," Hale says. "You might still see multiple offers coming in quickly, maybe even above asking price."

4. Mortgage rates are at a new low

Something strange has been happening over the past few months. Experts predicted mortgage rates would rise—and at the end of 2018, they were indeed ticking upward as expected.

But since the start of the year, rates on a 30-year fixed mortgage (the most popular home loan) have been falling, sliding last week to a new 12-month low of 4.37%. And of course, those historically low mortgage rates mean you could have more buyers knocking on your door.

Plus, this temporary dip in rates creates an opportunity for trade-up buyers as well. After all, if you're selling your home, there's a good chance you'll need to buy another one.

Bottom line: Now's the time to hustle and get both transactions done.

"Sellers need to take advantage of low rates as much as buyers do," Wolf says. "Sellers don't want to get stuck in their homes when rates go up and the math no longer makes sense to move."

5. Millennials are flooding the market

Historically speaking, people tend to buy their first home around age 30. And guess what? We've got a whole bunch of people turning 30 in the next two years—nearly 5 million, in fact, according to realtor.com data. So you can count on those millennials to be a driving force in the housing market.

"Millennials want to own a home as much as prior generations," Wolf says. "We saw millennial shoppers scooping up homes in 2018—and 2019 will be no different."

What's more, Hale adds, is that you won't just be seeing demand from first-time buyers. Older millennials in their middle to late 30s have already owned a home for a few years, and could be looking at now as a prime time to trade up.

"From a seller's perspective, you're going to have possibly more interested buyers," Hale says. "So that's motivation to put your house on the market."

Source: Realtor.com: https://www.realtor.com/advice/sell/2019-reasons-to-sell-your-home/

Winter isn't over just yet, but it will be here before you know it. Spring is a great time to sell your home. Making your home buyer-ready before the season starts will ensure that you're prepared to list it before the market gets overloaded. These ten tips from our real estate agents make it easy to prepare your home for sale and help your home look its best. 

1. Evaluate Your Home's Condition – Inside & Out
   Before you begin any projects, take a walk throughout your home with a friend to get an objective opinion about what is appealing and what isn't. Make sure to examine the exterior, too. If your home looks its best inside and out, it's more likely to draw buyers in to look around.

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