4 Things You Might be Doing That Could Be Jepardizing the Sale of Your Home

When potential buyers drive up to your home, they’re full of hope.

They imagine themselves baking in the kitchen and their kids playing in the yard. Most of all they think: “Could this be my home?”

Then they look closer. They see a mess by the driveway and the peeling paint near the roofline. Very quickly, they decide to keep driving—and keep looking. They don’t want your home. The exterior tells them the interior might have the same negative impact.

They’ve already done research on your neighborhood and know your asking price. Now they’re just driving by to see if your home has that “it” factor—not an “ick” factor.

Where do most sellers go wrong? Here are the main mistakes they make:

1. Ignore curb appeal

How your home appears from the curb is extremely important. It’s the proverbial first impression. If your home looks inviting from the outside—the yard maintained, the garden manicured and the paint fresh—potential buyers will take an interest in it. If not, they might think the interior is likely unkempt, too—and they’ll move on.

2. Crowd the buyer

When you sell your home, take yourself out of the picture. If you happen to be home, greet any potential buyers and then allow them to walk through your home undisturbed. Give them a chance to picture their couches in the living room or their dining set in the dining room. Let them have space to discuss what they’re seeing.

Some sellers crowd a buyer, thinking that any newcomer will want all the details of every renovation and every nook. Don’t do this. Let the buyer be. You can always provide an info sheet to describe anything you feel should be mentioned.

3. Offer that ‘lived-in’ look

Prospective buyers don’t want to see your clutter. It’s distracting and makes it hard for them to picture themselves in your home. A mess can often hide aspects of the home that would entice someone else to buy.

When you’re selling, keep a tidy home and tuck away all your family photos and knickknacks. Try to create as many open, clear spaces as you can. Clean off counters and other surfaces. Even the toaster and blender should be stored away when you show your home.

Ideally you will have time to give all the rooms a fresh coat of paint. You don’t need to hire an interior designer, but do look over your home with an unbiased eye. Is it warm and inviting? Pleasing to the eye?

4. Let odours linger

If you smoke or have pets, your home will likely have an odour. Although you might be used to it, others may not appreciate it.

Removing pet urine smells out of carpets takes care; you’ll likely need to use special solutions or a steam cleaner. With rugs, you may just have to buy new ones. Vinegar will work on most flooring. If you have a litter box, change it daily while showing your home.

If you smoke, try to smoke outside as much as possible. Most nonsmokers are sensitive to the smell of smoke. Not only will they want to leave, they may also find the prospect of cleansing a home of smoke odor a turnoff. You may be so used to it that you hardly notice the odour, but others will walk out the door quickly.

If there is a heavy smell in the home from years of smoking indoors, try washing the walls with vinegar. And don’t forget the curtains, shades and anything else that might collect the tar and resin from the smoke.

For any unwanted smells, try baking soda. Sprinkle it around the house, on the furniture and on the carpets. Let it sit for a day so the granules can absorb the odors and then vacuum it all up. You may have to do this a few times.

Think of it as vacuuming your way to a good deal on your home.

 Contact me today for a free home value report!

Warning Signs of Foundation Issues

Knowing the early warning signs of foundation troubles can head off problems that ultimately could cost tens of thousands of dollars to fix. The sooner you identify potential problems, the easier — and less expensive — it is to fix them.

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The 4 Basic Indoor Warning Signs

Houses settle over time, and a little unevenness isn’t cause for panic. At the same time, you’ll want to be alert to these warning signs that more dramatic changes are taking place:

1.  A door begins to jam or fails to latch.

2.  Cracks appear in walls, especially over doorways, windows, or where walls meet ceilings.

3.  Cracks open in vinyl or ceramic tile over a concrete floor.

4.  Windows that used to open and close easily suddenly begin to stick or won’t close completely.

Check the Outside

Moving outside, check to see if your foundation is straight by sighting down the length of your foundation wall from each corner. The walls should be basically straight, both up and down and from side to side. Check for leaning walls with a level.

A bulge or curve in either a block foundation or a poured concrete wall could signal that the foundation has shifted, or that the soil around your foundation may be expanding and contracting, putting pressure on walls.

Probe Concrete for Weakness

If your house has a poured perimeter foundation and the concrete appears to be chipping and flaking, poke it in a few places with a sturdy screwdriver. The concrete should be so hard that you can’t damage it.

If you manage to chip it or break a piece off, the concrete could be deteriorating because the mix contained dirty or salty sand, or too much water. This problem, common in homes built in the early 1900s in some parts of the country, has no remedy short of a new foundation.

Checking Structural Components

Foundation systems have other members besides the perimeter foundation wall. In your basement or crawl space, look for posts and concrete supports, or piers. Posts should stand straight and be firmly planted underneath the beams they support. Bottoms of posts should rest firmly on concrete piers.

You shouldn’t find puddles or see framing that’s wet. Check for rot by probing wood posts with a screwdriver or awl.

Puddles and other signs of moisture in a crawl space may indicate poor drainage around the perimeter foundation. Be sure that gutters aren’t plugged, and that soil slopes away from the foundation at the rate of 6 inches for every 10 horizontal feet.


Reading Foundation Cracks

As concrete cures, it shrinks slightly. Where the concrete can’t shrink evenly, it tends to crack. Concrete and block foundations usually have at least a few cracks. The trick is recognizing which are insignificant and which are serious. Here’s a list from least to most serious:

Hairline cracks in the mortar between concrete blocks are rarely worth worrying about.

Cracks at an L-shape section, such as where a foundation steps down to follow a hillside, are probably shrinkage cracks, especially if they meander and taper down to a hairline. These aren’t a structural issue, though you might need to plug them to keep the basement or crawl space dry.

Stair-step cracks in masonry joints are a bigger concern, especially if the wall is bulging or the crack is wider than ¼ inch. A plugged gutter or other moisture problem outside is probably exerting pressure on that part of the wall.

Horizontal cracks are most serious. It may be that water-saturated soil froze and expanded, pushing in and breaking the foundation. Or, you may have soil that expands when damp and shrinks when dry.

Getting a Professional Opinion

A structural engineer can determine whether any of these warning signs point to normal settling or to structural damage. Expect to pay $500-$700 for a structural engineer to inspect your foundation and provide an evaluation, and as much as $2,000 for a full set of drawings for an engineered solution.

There are several companies that repair foundation cracks in a variety of ways, most offering lifetime warranties.

10 Things Home Buyers AREN'T Looking for in a home

You’re in the market for a new home, whether you need more space or less, you must first sell your present residence.  Houses are selling these days, but how quickly they sell is really up to you, the seller, and your agent. The houses that move are those that are priced well. Today’s buyer is savvy and has done his research. Buyers also want a turn-key home that is immediately ready for them to move in and unpack. What they don’t want are…

 

1. Bad Smells

Nothing is more of a turn-off than walking into a house that has a smell. Before you sell your home walk through with a friend, a Realtor, or someone you can rely on to give you an unbiased opinion. You will want to get rid of the source of any bad odor as soon as possible. Pets are big culprits, especially cats. If you have a cat, kitty litters need to be cleaned as often as possible and kept, if possible, in a remote or out of sight location. Wall to wall carpeting can harbor bad smells as well, especially if pets are present in the home. Clean all carpets professionally prior to listing your home. If you have a fan above your stove get in the habit of using it regularly to keep from cooking foods with particularly strong odors, such as fish, the evening before an open house or a showing. If your basement smells dank and musty consider purchasing a dehumidifier to clear the air of moisture and odors. If you can pop some chocolate chip cookies in the oven, or maybe an apple pie now that it’s fall. While some smells are offensive to home buyers, some are very inviting!

 

 

2. Dirty house, especially bathrooms and kitchens

Having a house on the market is tough and hard work, especially when you have young children at home. If you don’t have time to clean your house daily, and really, nobody does, concentrate on your kitchen and bathrooms. Make sure floors are vacuumed and devoid of spills, crumbs and dirt. Make sure counters are wiped clean and that there are no dirty dishes in the sink. Don’t hide them in the oven for a quick remedy, house buyers are nosy and will look in your oven and any drawer or cabinet that can be opened! Keep a set of clean, dry towels on hand for the kitchen and bathroom for showing purposes.

3. Messy house

This is really an extension of the last point.  The average home buyer has a hard time looking past your clutter and mess. Simple, easy tasks, can make all the difference. If you have children you know that clutter happens. I am a huge fan of wicker baskets. They are inexpensive, efficient and look nice in your home. Invest in a few wicker baskets  as a quick way to stash toys when you don’t have time for an overhaul. Laundry is perhaps the hardest thing to keep on top of and is the most time consuming. If you don’t have time to wash, fold and put away your laundry on a daily basis, pick up a couple more wicker baskets to stow away clean, folded laundry so it doesn’t look like an eyesore. In the kitchen and in the bathroom clear away bottles and containers. Bowls of fresh fruit and vases or pitchers of fresh flowers not only look pretty but often make a room smell lovely.

4. Poorly lit rooms

No one wants to enter a dark house, especially someone who wants to buy your home. If a house is too poorly lit they may tend to wonder what you are trying to hide. Replace dim or burnt out light bulbs with high efficiency, bright bulbs to brighten up your space. If need be, pick up a few stylish lamps that will not only brighten your home but can add to your home decor. If you have big windows, take advantage of them. Make sure they are clean and make sure that drapes and curtains are not blocking the natural sunlight.  When it comes to selling your room, lighting really can be everything.

5. Loud Walls and Busy Wallpaper

Shhhhhh!! Most likely the person who ends up buying your home will not have the same taste and style you do. They say one decorates their home for living, and one should re-decorate their home for selling. When you sell your home, you must remove yourself and your history from the overall picture. A home buyer wants to be able to envision him or herself in your home, not wonder about you, your lifestyle and your family. You don’t want to distract from the task at hand which is to sell your home. Tone down those bright and cheery colors and save them for your next home. Instead, use softer, more neutral tones like creams and off-whites that can make spaces like lighter, airier and brighter. If your home is covered in brightly patterned wallpaper you ought to give serious consideration to removing that as well. Potential buyers may be deterred by the paper knowing what a colossal  a nuisance it is to remove it.

6. Unkempt yards, untrimmed bushes

Nothing is more unwelcoming than pulling up to a potentially Haunted House! Make sure your yard is well mowed, all bushes and hedges are trimmed. If you can add or fix up your landscaping with fresh or potted plants. The outside of your home is the first thing that will be seen. Let it be a great reflection of you and a great indication of what’s yet to be seen on the inside.

7. Wall to wall carpeting

If you can, please remove them. These days home buyers are looking for hardwood floors throughout. Even if they aren’t in the best of shape, hardwood floors are much more appealing than wall to wall carpeting. If you can’t rip out the wall to wall, please have it professionally steam cleaned.

 

 

8. Neglected entryways

This is the first room everyone sees as soon as they pass through the front door. This is your greeting card. Let it be warm, friendly and welcoming. A simple bouquet of flowers, it need not necessarily be elaborate, makes a lovely statement. Clear out closets, and make sure that stray shoes and other items are neatly put away.

9. Your pets

May people are allergic. Many children are scared. Please keep your pets away from your home whenever possible.

10. You!

I’m sure you are lovely and you know your home like no one else, but a potential home buyer simply does not want you there, or anywhere nearby. If you remain at home they won’t stay, they won’t linger and they won’t take their time to look around to get a proper look and feel. You will not be doing yourself any favors by remaining at home. Leave the selling to your Realtor, that’s why, after all, you’ve hired him (or her!)

STRONG HOMES SALES IN JULY IN KITCHENER - WATERLOO AREA

Find out what your home is worth - contact me today for a free Home Value Report!

There were a total of 570 home sales in Kitchener-Waterloo and Area though the Multiple Listing System (MLS® System) of the Kitchener-Waterloo Association of REALTORS® (KWAR) in July . This represents a 1.1% increase compared to sales in July of 2014 and 20.5% above the 5 year average for the month of July.


Strong sales activity helped to bring year-to-date total sales to 3,525, a 7.1% increase compared to the same time last year, and 5.4% above the 5-year average. This also stands as the highest year-to-date sales number since 2008.

Residential sales in July in KW and Area included 356 single detached homes (down 5.1%), 42 semi-detached (up 2.4%), 49 townhomes (up 36.1%) and 120 condominium units (up 8.1%).

"It’s been a strong summer so far for residential sales," says Mark Wolle, President of KWAR. "Buyers continue to express their confidence that homes in the Region are a solid investment."

Across KW and Area the average sale price of all residential sales through the KWAR’s MLS® System increased 2.1% to $344,523 compared with July 2014. Single detached homes sold for an average price of $400,129, an increase of 4.3% compared to last year. The average sale price for a condominium was $228,309 an increase of 2.8% compared to July 2014.

Price Your Home Right from the START!

In today’s market, where demand is outpacing supply in many regions of the country, pricing a house is one of the biggest challenges real estate professionals face. Sellers often want to price their home higher than recommended, and many agents go along with the idea to keep their clients happy. However, the best agents realize that telling the homeowner the truth is more important than getting the seller to like them.

There is no “later.”
Sellers sometimes think, “If the home doesn’t sell for this price, I can always lower it later.” However, research proves that homes that experience a listing price reduction sit on the market longer, ultimately selling for less than similar homes.

John Knight, recipient of the University Distinguished Faculty Award from the Eberhardt School of Business at the University of the Pacific, actually did research on the cost (in both time and money) to a seller who priced high at the beginning and then lowered the their price. In his article, Listing Price, Time on Market and Ultimate Selling Price published in Real Estate Economics revealed:

“Homes that underwent a price revision sold for less, and the greater the revision, the lower the selling price. Also, the longer the home remains on the market, the lower its ultimate selling price.”

Additionally, the “I’ll lower the price later” approach can paint a negative image in buyers’ minds. Each time a price reduction occurs, buyers can naturally think, “Something must be wrong with that house.” Then when a buyer does make an offer, they low-ball the price because they see the seller as “highly motivated.” Pricing it right from the start eliminates these challenges.

Don’t build “negotiation room” into the price.
Many sellers say that they want to price their home high in order to have “negotiation room.” But, what this actually does is lower the number of potential buyers that see the house. And we know that limiting demand like this will negatively impact the sales price of the house.

Not sure about this? Think of it this way: when a buyer is looking for a home online (as they are doing more and more often), they put in their desired price range. If your seller is looking to sell their house for $400,000, but lists it at $425,000 to build in “negotiation room,” any potential buyers that search in the $350k-$400k range won’t even know your listing is available, let alone come see it!

One great way to see this is with the chart below. The higher you price your home over its market value, the less potential buyers will actually see your home when searching.



A better strategy would be to price it properly from the beginning and bring in multiple offers. This forces these buyers to compete against each other for the “right” to purchase your house.

Look at it this way: if you only receive one offer, you are set up in an adversarial position against the prospective buyer. If, however, you have multiple offers, you have two or more buyers fighting to please you. Which will result in a better selling situation?

The Price is Right
Great pricing comes down to truly understanding the real estate dynamics in your neighborhood. Look for an agent that will take the time to simply and effectively explain what is happening in the housing market and how it applies to your home.

You need an agent that will tell you what you need to know rather than what you want to hear. This will put you in the best possible position.

Contact me for a free Home Value Report today!