6 Reasons to Start Your Pre-Listing Renovations Early

Why is it smart to renovate your home before you sell it? There are six reasons to renovate early that I wanted to share with you.

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If you are thinking about selling your home this year, now might just be the time to start a renovation to help your sale. There are six reasons why:

1. You get to enjoy the new stuff. If you're spending a lot of money to update your home, you should at least get some enjoyment out of it before you turn the house over to someone else. If you've been waiting for a decade for new appliances, it would be a shame to move without cooking a few meals or holding a dinner party or two with them.
2. Renovations always take longer than expected. It's just a fact of renovations. If your timeline is six weeks, it's probably going to take you 10 or 12 at least. Give yourself plenty of time to avoid a stressful scramble at the end when you're trying to sell.
3. There could be issues you're unaware of. Selling your home is a lot harder when you run into new issues like mold or termites. Getting the jump on these issues ahead of time will give you the time you need to fix them and keep your sanity.
4. The renovation doesn't have to be huge. You don't always have to strip your house down to the studs. Sometimes you just need a light touch, so think small. Quick cosmetic upgrades help get buyers through your door for a quicker sale. The amount of time your home is on the market is key to determining what you'll net at closing.
5. You will need them. You might not like the idea of spending money on your home before selling it, especially if you already have your eyes on a new one. However, almost all homes need a little updating or staging to increase their value and help you sell quickly.
6. You'll get a return on your investment if you renovate smart. Updated homes typically sell faster and for more money if the updates are done well and are the kinds of updates buyers look for.

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Sometimes all it takes to add value is a light cosmetic touch.

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If you're not sure which renovations to consider, give us a call for some ideas for which popular remodels will add to the value of your home. This topic is especially near and dear to my heart this month since I'm starting a renovation of my own home for these six reasons. I'd be happy to refer you to any contractors you need. If you have any other questions, give me a call or send me an email soon. I look forward to hearing from you!

5 Tips for Selling Your Home Fast and Easy

Selling your home quickly isn’t difficult. You just need to know how to price it correctly and how to cater to the market.

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What are some tips to selling a home fast? The inventory of homes in San Luis Obispo County is still fairly low. Despite this, there are still some homeowners out there whose houses aren’t selling as fast as they would like. Here are some suggestions to rectify that and sell your home fast: 1. Price it to move. The number one reason a home doesn’t sell is its price. While everyone dreams of selling their home for top dollar, if you need to sell quickly, this is the one time we recommend pricing it on the modest end, or even below. This concept is difficult for some sellers, but a conservative list price should encourage more offers and lead to a faster sale.

2. Set a hard deadline for the offers. You can make this clear in your listing by saying you’ll be accepting offers only after a certain date. From there, just price your home right and watch the offers roll in!

3. Sell to a flipper. There’s no faster home sale out there than one that happens when the buyer is a flipper. These buyers often enable you to sell the home as-is with cash, which removes the burden of costly home repairs. These situations especially appeal to homeowners who just need to get a property off their hands quickly.

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Price your home right and watch the offers roll in.

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4. Offer incentives. Some sellers offer cash for the buyer’s agent if a full price offer is received by a specific date. Other times, the incentive is for the buyer who might score a refrigerator or some other type of furniture for acting fast.

5. Sell to a developer. This may sound drastic, but if you want to sell simply and quickly, consider selling directly to a developer. That person would purchase your home for the value of its land, tear down that property, and build a new one in its place. Although that may be hard to think about, if it’s a property that might not be in the best condition, it may award you the most amount of money in the end. Although pricing your home a little bit lower than the market value is a bit difficult, for most, the reward of having a home sell quickly with multiple offers is very exciting. If you feel like now is the time to sell your home, give us a call or shoot us a text. We would love to talk to you!

What to Do When an Offer Comes in Well Below Asking Price

What happens when a buyer makes a lowball offer on your home? Don’t reject the offer right away; I have five tips to help you turn that offer into a sale.

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What do you do when you receive a lowball offer on your home? I have five tips for you today.

First of all, don’t get insulted. Just because a buyer starts out with a low offer doesn’t necessarily mean they are trying to take advantage of you. They might be moving from an area where lowball offers are the norm or where home prices are substantially lower than they are in your neighborhood. As a seller, there is a natural tendency to get upset when you receive a lowball offer. The initial bid is only the starting point; there is usually room for negotiation. Don’t just reject the offer outright. The next step is to respond gracefully. Even though you’re not exactly thrilled with the offer, a little gratitude can go a long way. Put yourself in the buyer’s shoes. Would you want to raise your offer if the seller was rude to you? Probably not. When you send your counteroffer, cushion your response by saying something like, “We greatly appreciate your offer and would love to work with you.”

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Deciding on a sales price is like playing a game of chess.

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Thirdly, make a strategic counteroffer. Assuming that you priced your home well, don’t feel pressured to drastically slash your price. Some people are so eager to sell their home that they counter too low. Remember, you don’t have to meet the buyer halfway. You should also expect a counteroffer to your counteroffer. Agreeing on a sales price is like playing a game of chess; you make one move and the buyer makes another before both parties agree. It may take some time, but just remain patient. Finally, remember that you can negotiate on terms. There are other ways to sweeten the deal besides lowering the price. For example, depending on your timeline, you could ask the buyer for an early close of escrow. If you have already purchased your next home, settling in 30 days instead of 45 would reduce the amount of time that you would have to pay two mortgages. You could also ask the buyer for fewer contingencies. One way to save money would be to make the home inspection an information-only inspection. In other words, the inspector would tell the buyer about any issues in the home, but you would not be required to make repairs. There are numerous terms that can be negotiated in a real estate contract; it just takes communication to figure out which ones are the most important. The right Realtor can help you negotiate through these offers and counteroffers to get you the best deal. As you can see, a lowball offer is really just the starting point of your home sale. If you have any other questions about selling your home or about real estate in general, give me a call or send me an email. I would be happy to help you!