Selling a home in the Dartmouth-Lake Sunapee Region?

Don’t Get Discouraged or Insulted by so-called “Lowball” Offers.

While a low offer is disappointing or some sellers may think – even insulting, it helps to have some perspective on it. Considering that we are still in a buyers’ market, I believe that any offer today is better than NO offer at all. Don’t focus on the numbers! Someone likes your house enough to put an offer in on it. Consider it is a starting point for negotiations. Some buyers view offering much less than asking price as standard procedure. They are obviously trying to buy at the lowest price possible, just as sellers want the highest price possible. Don’t automatically assume that you are not dealing with a serious buyer if the initial offer is low. Make a counter-offer; it’s usually not a waste of time. Include sales that validate your price. This can be an effective start to negotiations. The buyer may be basing his offer on outdated data. Bottom line, don’t let emotions rule your response to a lowball offer. Instead of rejecting it out of hand, try to find out something about the buyers and why they offered what they did. It doesn’t cost you anything to counter offer and remember the old adage “Nothing ventured, nothing gained”. You may just end up selling your property!

Contact Donna at donna@donnaforest.com for more good advice about selling in this market.

5 Tips to Help Sell in a Buyer's Market

As we all know, the market, even in the Lake Sunapee/Kearsarge area of NH,  has become a different ball game.  There are fewer buyers and more homes to sell.  To increase your chances of selling in a reasonable time period, here are a few good guidelines to follow:

  1. Price your home just under the competition.  Be the best value out there for the money.
  2. Clean and de-clutter.  One cannot over-emphasize the impact this will have on buyers.
  3. Consider offering a credit at closing if the kitchen and/or bathrooms need remodeling.
  4. Make your house appealing from the 1st day it goes on the market.  With fewer buyers looking, your house needs to be in perfect showing condition when someone wants to look.  Missed opportunities are hard to get back.
  5. Have a home inspection prior to putting the house on the market.  Fix any issues that come up.  This will help take away a buyer’s opportunity to say “no”.

If you’d like more ideas about how to give your house the best chance to sell, give me a call.

Donna Forest, ABR


Don’t Let Undisclosed Facts Bite You in the ….!

You’re putting your house on the market and the Realtor hands you a Sellers’ Property Disclosure to fill out. You’re thinking, “What a nuisance! Maybe I can skip over some of the questions.” Beware – this will come back to bite you! Withholding pertinent information about the property has serious consequences. A thorough Disclosure will protect you as well as the buyer. Most buyers appreciate knowing as much as possible about a property before buying it. They can live with it not being perfect, as long as they know the issues up front and have had a chance to investigate and digest them.

Properties can fail to close and lawsuits can happen when information is withheld. Not only should you disclose current issues with your house, but it also may be a good idea to disclose any past problems that have been repaired, or areas that require routine maintenance. A word of caution on past repairs – don’t guarantee that the problems are fixed. This implies that they will never come back. Rather, be specific on how they were taken care of. Also, don’t guess when filling out the disclosure; if you don’t know, then indicate that it is unknown. On the other hand, don’t just fill in “unknown” because it is easy and avoids problems. A thorough and properly filled out seller’s Disclosure may make buyers feel good about your house and also help keep you out of court!

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Contact Donna at donna@donnaforest.com or visit her web site at www.donnaforest.com

Five Mistakes to Avoid When Selling

  1. Overpricing.  Your home will stay on the market longer and buyers will be less inclined to make offers.
  2. Using emotional values to price the property vs. factual market conditions.
  3. Not preparing the home for sale before it goes on the market.
  4. Listening to the opinions of friends and relatives vs. the professional advice of your REALTOR.
  5. Not giving the first offer serious consideration.  Most often, it seems that this turns out to be the best one.

For more selling information, visit my website and click on “Resource Links” and/or “Free Reports”!  www.DonnaForest.com. [caption id="attachment_377" align="aligncenter" width="122" caption="Donna Forest"] [/caption]

Tips to Help Sell Your Home

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Selling? Within the first 15 SECONDS, a buyer has already developed an opinion of your home!! Here are a few things you can do to be sure that very first impression is a good one:

  1. Improve curb appeal. (Remove toys, paint front door, prune shrubs, keep walks and driveways clear of snow, etc)
  2. Paint walls which are dinged and scuffed and clean all dirty carpets. Keep all colors neutral.
  3. Get Rid of Clutter! Remove excess furniture, knick-knacks, extra wall decorations, etc.
  4. Have a home inspection done and then address the items which need to be repaired.
  5. Eliminate odors. Nothing turns a buyer off faster than a smelly house.

While it may seem like a hassle to do these things now, when you realize the best price for your property in the shortest period of time, you’ll be glad you made the effort!

Email or call me to receive a free booklet “Home Enhancement Guide.”

Donna Forest is Broker Associate with Coldwell Banker Milestone Real Estate.

Listing your House for Sale? How to Price it to Sell!

Ultimately, the market dictates value, based on current conditions.  Your house has many values-one to the tax assessor, others to your lender and insurance company, and yet another value to you, the owner.  Prospective buyers will also value it differently. What a buyer will pay is typically called "market value".  The best price obtainable in any market can only be determined by aggressively testing the market and challenging the competition.  So...what affects the value of your house?  There are some factors which have no effect on the current value of your property, and you probably know what they are: what you paid for your house; the cash proceeds you want or need from the sale; or what your friends and neighbors say your property is worth.  Also, there are some factors that are "given" - over which we have no control: your property's location, age, the size of the house and lot, and its floor plan and architectural style.  Also, we cannot control the market conditions, including interest rate and the availability of financing, buyer demand, the state of the economy, the prices of recently sold properties, or the possible seasonality of demand.  We also have no control over the competition:  how many similar properties are for sale, or their prices, financing terms, location and physical condition.  But, we can control the asking price! 

 
We know there are great risks if we over-price our property:  the higher the price above realistic market value, the fewer the buyers that will consider your property and the longer it will take to sell.  A property listing generates the most interest when it is new to the market; if it is priced to the market, this is when the number of showings will be greatest.  If you start too high and drop the price later, you miss this initial excitement and activity.  If you start too high, you may actually end up having to drop the price below market value.  There is the additional risk that, even if you find a buyer willing to pay above market value for your property, the property might not appraise and the buyer will end up having to make up the difference out of his pocket (if he still wants to proceed with the purchase).  Pricing your property competitively will help attract the greatest number of buyers and will help your property sell in the shortest time possible.
 
And this is why you need to have a professional, experienced Realtor provide you with a Competitive Market Analysis of your property. This Analysis focuses on houses that have recently sold and properties now on the market, the competition.  Also taken into consideration are those which did not sell and came off the market. The key to selling success is to accept the fact that houses that do not meet the current competition in price and terms simply do not sell.  In fact, they may even help sell the competition!
 
Stick to the basics and you'll have success!

The Significance of a Cluttered Home to Buyers

From a prospective homebuyer’s view, clutter translates into an undesirable home. Cluttered homes often appear smaller. They look darker, and tend to smell from the excess dust. Too much “stuff” around can be an immediate turn-off because the combined effect suggests that all of the home’s other features will be rundown, decayed and in need of much repair. The opposite is also true: homes devoid of clutter and kept clean give the impression of being well maintained and not requiring much work.  Clutter compromises the ideal image and prospective buyers view the home in terms of cleaning and maintenance. 1Y0-A05 Properties with clutter translate into increased time on the market and lower values, not only because the clutter decreases the perception of size, air and light, but also because it makes buyers think that there will be a lot of work involved in maintaining the property. If you need help to de-clutter, call a professional. This initial cost will be recouped with a higher selling price and faster sale. For more helpful hints, go to:  http://www.realtor.com/Basics/Sell/PrepHome/GetReady.asp

Selling a Home in a Buyer's Market

Although home appreciation has leveled off in some markets, sellers can still get good prices for their homes. The sale may take a bit longer, but a little creativity can help sellers move homes without having to drop the price. The professionals at Coldwell Banker Milestone Real Estate offer the following suggestions for sellers who want to speed the process: Price Your Home According to the Current Market. Just because a house comparable to yours sold for a very high price last year does not mean you will be able to realize the same price when selling your home now. Work with a full-service real estate professional to determine the appropriate, competitive listing price for your home. Remember that in this market, your sales associate will encourage a list price in accordance with others currently on the market, rather than those previously sold. Be Thankful for Appreciation. While price appreciation has slowed, it is important to look realistically at the financial gains you have made over the years you have owned your home. According to the National Association of REALTORS®, over the last six years the median sales price of a single-family existing home in the U.S. appreciated 7.6 percent annually. Make Your Home More Marketable. When a buyer sees your house for the first time, a critical first impression is made. If applicable, maximize curb appeal by trimming trees and planting flowers. A fresh exterior coat of paint might also prove valuable. Consider neutral colors for interior walls and carpets. Dark colors on walls, along with unnecessary clutter, make rooms look smaller. Conduct a Full Home Inspection. If repairs are required, it is a good idea to go ahead and fix the problems. Potential buyers will cast an extremely critical eye over your home and, in a situation when more houses are available on the market, they may take a pass on a home that needs too many repairs. Be sure to have the home inspection report available for prospective buyers itemizing all of the repairs that have been made and the associated cost for each. Offer a “Seller’s Contribution.” A seller can sweeten the deal by offering assistance to the buyer in ways that do not require lowering the asking price. These tactics can help your home to stand out from the crowd. For example: Offer to buy down the interest rate on the buyer’s mortgage or to pay a portion of the closing costs. Cover the buyer’s mortgage payments for up to the first six months. Depending upon the size of the mortgage, the buyer can save several thousand dollars and the seller still gets the original asking price for the home. It is generally more financially advantageous to do this than dropping the asking price by $30-, $20- or even just $10,000. Many condos and houses across the country belong to homeowners’ associations that require annual dues. Paying the first year’s fees could be a big incentive to a buyer nearing the limit of his or her liquid assets. Don’t Worry. Properly priced homes that stand out from the competition are selling and demand for homes is still at historical highs.