Real Estate Information Archive

Blog

Displaying blog entries 1-6 of 6

Make More Money From Selling Your Home

by The Pilgrim Team

Spring is coming up and home buyers in York are getting ready to buy. If you’re planning on putting your home on the market in York, then you need to start getting your home ready to sell. Here’s a few simple tips that you can follow to get more from the sale of your home and help it sell faster.

First Impressions are the Only Impressions

It doesn’t matter how good the inside of your home looks like if the outside doesn’t look good. Buyers always judge your home before they walk through the front door. Sometimes a buyer will just drive by if a home looks bad enough.  So spruce up the yard, put on a fresh coat of paint, and pick up any debris or items around the yard that aren’t part of the landscape.

Be Ready to Show

Home buyers have a tight schedule.  They’re usually trying to view several Homes for sale in york pa, sometimes in the same day. Be accommodating. In the end, if they can’t see your home, they simply won’t buy it. And keep it ready to show at all times, which means keep it clean. No dirty dishes in the sink or dishwasher either.

The Kitchen Comes First

Home sellers don’t realize that it’s the kitchen that can really sell a home. If you can remodel your kitchen or at least have updated appliances, you will usually make that money back in the final sale. A dated kitchen can knock thousands of dollars off the asking price. Even if you buy just one high-end appliance, a buyer will think the rest of them are expensive as well.

There are certainly a lot of things that go into selling a home.  But if you keep these tips in mind, you can get more in the end.

Slow Market? You Can Still Sell!

by The Pilgrim Team

Eventhough we are still in a sluggish economy and the market is slow, the good news is that home prices are low and interest rates are the lowest in many years. But, in spite of these benefits for homebuyers, many real esate markets are still slow in several parts of the country. With a surplus of home inventory and existing home sales that are in steep competition with new home foreclosures, many homesellers are needing to know how.

So how do you get your home off the market and into contract? Below are some helpful tips to getting your home sold quickly and the price you’re looking for:

 

  1. Pick the agent who is right for your market. Find an agent that has a good track record with sales in your market range and Neighborhood. Good sales stats in your price bracket demonstrate that the realtor knows what buyers are looking for and how to move property similar to yours. A great agent can help you move your home, even in a tough market.
  2. Know your market. Understanding the ‘comps’ in your area will help you reach a realistic asking price and get a better handle on the competition. Ask your realtor to provide this information and also take opportunities to visit open houses for Homes for sale in york pa that are comparable to yours. You can learn a lot about staging, pricing and what is appealing to buyers.
  3. Keep up with repairs and maintenance. Don’t hesitate to make necessary repairs and maintenance to your home when you are ready to sell. You don’t have to undergo major remodeling or expense. Simple updates like fixing broken steps, touch up painting and keeping your lawn mowed and flower beds cleaned out will really go a long way in making your home look move-in ready.
  4. Be flexible. From having your home ready to show at a moment’s notice to your willingness to negotiate, the key to selling your home in a slow market is flexibility and responsiveness. Going the extra mile for prospective buyers can really make a difference in getting more people through the door ready to make an offer.
  5. Add value. Remember that you are competing with short sales and foreclosures, so any extra value you can add to your home can make it more attractive. Whether it’s an appliance, patio furniture or a simple cost concession, small items can add up to big pluses when prospects are evaluating the total value of your home.

In a slow market, you need to get your home noticed quickly and be willing to negotiate so that prospective buyers see a great value in your property. Don’t stop looking for ways to make your home stand apart from the competition.

 /kh

Common Expenses When Selling Your Home

by The Pilgrim Team

If you are planning on selling your home there are different expenes that will come up related to the sale. It is important to know what differnt costs be required as well as what exactly they are. Below is a list of some of the most common costs that come with selling your home.

Closing Costs: Although most of the closing costs are the responsibility of the buyer, the seller is expected to pay the property taxes and insurance up to the date of the closing, even if they're not due yet. In addition, some buyers will ask the seller for help with other closing costs as part of the negotiations.

Realtor Commission: Typically there's a 4 percent to 7 percent commission on the sale price of the house if you opt to go with an agent. Usually this rate is between 5 percent and 6 percent, so be sure to account for this cost when pricing your home and figuring up your expenses that come with selling your home.

Home Inspections: Although the buyer pays for the home and 
pest inspections, it's a good idea to get your own inspection before putting your house on the market. This way you're aware of any hidden problems before selling.

Legal expenses: Even if you are using a real estate professional and not selling your home yourself, you still may want an attorney to examine the sales contract and assist with closing, which can be complicated.

Prepayment penalty: Many Home Loans have prepayment penalties if you pay off the Home Financing early. Be sure to examine your mortgage agreement and read the fine print.

Other Fees Negotiated by the Buyer: Buyer negotiated fees are becoming more common in the current real estate market. Some of the most commonly seen buyer negotiated fees might include a home warranty paid for by the seller, the cost of repairs needed to make the sale, and the cost for a home inspection. Keep in mind that nost all parts of the real estate contract is negotiable.


Many homeowners are not aware of the costs involved with selling a home but there are some perks as well. With any home sale you are eligible for a tax write off of up to $250,000 gained in the sale of your home for a single owner, and $500,000 for married couples. This applies for most state taxes as well; check with a tax professional to get all the details of any Tax Credit that may be available to you and your situation. 

 

 

/kh

Successful Negotiation Tips

by The Pilgrim Team

Having a successful negotiation and sale is what ever homebuyer and homeseller wants to achieve during the real estate transaction.. The negotiation process can be both complex and confusing for both sides. Bot the seller and the buyer want to have a fair transaction and achieve the best deal. Even if you have been thru the negotiation process before, below are some tips to help you get the most from the  transaction and walk away with what you want.

1. Time the market right. At this time, we are in a "buyers" market, where most sellers are very motivated to sell, this can give a buyer the upper hand. On the other side,  a "sellers" market, or a market where housing supply and demand are roughly equal might give the seller an advantage. If possible, you want to be in the market at a time when it favors your position as a buyer or seller.

2. Pay attention to the details. Buyers and seller pay a lot of attention to the transaction price. It is a good idea to consider other perks or benefits that can add to the overall worth. For example, if you negotiate that the roof be replaced or perhaps having the seller pay some of the closing costs this can sweeten the deal. Don't be stuck with the idea that the purchase prince is the only financial gain to the transaction.

3. Don't forget about financing. Keep in mind that there are several factors that can impact the final sale:

• Has the buyer been pre-qualified or pre-approved by a lender?  Having buyers that are "pre-qualified" or "pre-approved" are more likely to pose less risk than a buyer who has never met with a lender. This also shows the seller that they are serious about the offer and will give the seller more confidence. that they are a qualified buyer.

•If there is a low interest rate, then there will be a larger selection of potential buyers. More buyers equal more potential demand, which is good news for sellers. On the downside, high interest rates will cause buyers to be more selective or cause them to withdrawal from the market all together.

•The traditional 20% downpayment is not standard anymore. If the buyer has good credit, loans with 5 percent down or less are now widely available. Many loans where 100 percent financing are still available, although not as much as a few years back.

Negotiation is an important tool of the real estate transaction. To be a successful home seller or buyer you should have a basic understanding of negotiation methods, knowing the motivation of the other party and adapting to their style.

 

/kh

Listing Agreements

by The Pilgrim Team

If you are ready to think about listing your home for sale, you will be presented with different options for the type of listing agreements. It is important to know the specifics of each one so you can select the agreement that is best for your situation. Below are some options for you to consider when selling your home. Consult with your real estate professional with any questions you may have and what agreement is best for your situation.

 

Open Listing
This type of listing is mostly used by people trying to sell their home by owner who are also willing to work with real estate agents. Basically, it gives a real estate agent the right to bring buyers around to view your home and if they locate a seller, the agent earns a commission. There is nothing exclusive about an open listing and a home seller can give out such listings to as many agents as they would like. The open listing creates competition between the seller and agent(s) to find an willing buyer.


Exclusive Agency Listing
An exclusive agency listing contracts one agent to sell the home. The owner still reserves the right to sell the property herself and not pay a commission. The broker is free to cooperate with another brokerage, meaning the second brokerage could bring an able buyer whose offer the owner accepts. Typically, the broker is paid a listing commission that is shared with the selling broker, so the owner pays both fees.


Exclusive Right-to-Sell Listing
An exclusive right-to-sell listing is the most common, typically most
real estate listings are this type. The listing agent has complete control of the transaction and so even if the seller, the listing agent or a cooperating selling agent finds an acceptable buyer, the listing agent will still earn the sales commission. However, when the listing expires the seller does have the option of finding another agent if they are not satisfied with their performance,

Multiple Listing
An important marketing tool for listing agents is the multiple listing service (MLS). This allows all the listing information as well as photos of the property to be shared on the computer others who are working with potential buyers. In addition,
these listings are also available online to potential home buyers who are doing their own research. A MLS number is assigned to each listing, it is a unique number given to Homes for sale in york pa listed in the Multiple Listing Service (MLS) used by Real Estate professionals.

It is important to understand that a real estate listing contract is a legally binding agreement that sets out the rights and duties of the seller and the agent. It is important to consider your options when making your decision. Keep in mind that all listing contracts have expiration dates and you can change your listing choice when the contract expires.

Tips For A Successful Open House

by The Pilgrim Team

When it comes time to show your home to potential buyers, you only have one chance to make a first impression. Holding an open house will draw potential buyers and allow them to see all of what your home has to offer. You should of course take care of all major repairs before you have an open house, but below are some things you can do to help prepare and make the most of your showing. 

  • Be sure to leave the home during the showing.  Potential buyers tend to  feel uncomfortable with the sellers hanging around. You want buyers to get a feel for the home, not feel like they cannot look around.
  •  When you leave be sure to take your pets with you. Barking or agressive dogs even confined to a garage will make buyers feel restricted as to where they can look.
  • Depersonalize your home. It may feel strange but by removing your personal treasures and photos from the home can help with the sale. You want potential buyers to focus on the best features of your home and you want them to envision their family in the home.
  • Remove all vehicles from the driveway. Ask your neighbors to help out by not parking in front of your house.
  • Be sure that the home is spotless and free of unpleasant odors prior to the open house. You may want to bake a fresh batch of cookies an hour or two before the open house begins. Not only will the aroma mask any unpleasant smells, but it will create a warm and inviting ambiance.
  • Remove all private, and personal/fnancial documents from view. Be sure to also take all medications and valuables with you. While it is rare that you will have a problem it is better safe than sorry. You want to focus on selling your home not worring about a theft.
  • Create a bulletin board of seasonal house photographs so buyers can see what the home would look like at another time of the year. This is especially helpful to showcase gardens during the winter.
  • Set out all documents pertaining to the house: Inspection reports, appraisals, major repairs and warranties, blueprints for additions etc.

Displaying blog entries 1-6 of 6

Syndication

Categories

Archives

Share This Page

Contact Information

Photo of The Pilgrim Team Real Estate
The Pilgrim Team
Professional Realty Associates
2002 S Queen St, Suite 3
York PA 17403
Office: 717-757-5955
717-755-2683
Fax: 717-757-2887