3 Tips for Negotiating a Home Sale

Today I’d like to give you three tips for negotiating a home sale.

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Today I have three tips that will help give you an edge when it comes to negotiating a home sale. 1. You’ve got to know before you go. Begin with the end in mind. If you do this, it takes away a lot of the emotion out of negotiating a home sale. Negotiating a home sale shouldn’t be personal. 2. Know your motivation. If you’ve got an ulterior motive, make sure you keep it to yourself. You want the other side of the transaction to know as little about you as possible because that gives us the most leverage as we undergo negotiations. 3. Don’t get greedy. Typically, the first offer you get is the best offer, so don’t be greedy and wait for the next best thing and risk losing your best offer for the idea of another one. If you have any questions about this or other real estate-related topics, feel free to reach out to us. We’d love to help you reach your real estate dreams.

How to Master the Psychology of Home Showings

Mastering the psychology of a home showing involves applying a few key tasks here and there.

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Here are a few tips to help you master the psychology of your home showing.

First, depersonalize and declutter. You’ve probably heard these terms before on HGTV, and for good reason.

By “depersonalize,” I mean take down things like personal pictures. You want the buyer focused on the details of your home, not the details of your personal life.

When decluttering something like a closet, take out things you’re not using at the moment. If you have a showing during the summertime, for example, take out all of your winter clothes so the closet appears bigger.

Instead of consciously thinking about the closet not being filled up, the buyer will subconsciously think that you’ve lived there for a while but still haven’t filled up the closet. Linen closets and master bedroom closets are the primary closets to pay attention to in this regard.  

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You want the buyer focused on looking at your home, not on your personal life.

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Lastly, focus on smells and music. It’s definitely a good idea to have some nice, quiet, soft music playing during your showings. Also, try baking some cookies or banana bread or cooking something in your crock pot to create smells that will appeal to a buyer’s senses and make them want to make your home theirs.

If you have any more questions about the psychology of showing your home or you have any other real estate questions, don’t hesitate to call me or shoot me an email. I’d love to help you.  

Did You Know That Overpricing Can Reduce Your Home's Value?

Overpricing your home comes with a few different pitfalls. Today, I’ll be talking about three, specifically.

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Sellers, listen up: Don’t overprice your homes.

Doing so can carry a few pitfalls. If you overprice, you won’t receive multiple offers or be as competitive in today’s market. In fact, overpricing your home will eventually reduce its value.

Also, you aren’t going to get as much feedback. This is because fewer buyers will come through the door and check out the home if they see that it’s overpriced.

Overpricing your home will eventually reduce its value.

You don’t want your home to become a stale listing. Buyers have access to a lot of information and technology today, so they know better than to fall for an overpriced home.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Should You Use Zillow to Estimate Your Home’s Worth?

If you want to get an accurate valuation of your home, have a real estate professional walk through it instead of using Zillow.

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Should you get a home valuation from Zillow?

You can. It’s one way to get a home valuation, but I don’t think it’s the best way.

The best way is to have a real estate professional like myself meet you at your property and walk through it with you so you can get an accurate idea of what its value is.

Zillow won’t take into consideration what upgrades you have. I, on the other hand, can come to your house and look at the upgrades and improvements you’ve made that have added value to it. I can also evaluate its condition compared to the rest of the properties in the area.

Zillow is one way to get a home valuation, but it’s not the best way.

Another thing Zillow won’t take into consideration is the inventory in your area, whereas I can look specifically at how many houses are out there and what’s available in your neighborhood.

Take a look at Zillow if you like, but having a real estate professional walk through your property with you is a much better way to get an accurate valuation of it.

If you have any questions or would like me to come out to your home to figure out what it’s worth, don’t hesitate to call me or shoot me an email. I’d love to help you.

Why You Should Stop Renting and Start Owning

Is it better to rent or own? A lot of people ask this question. To me, the answer seems obvious.

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Is it better to rent or buy?

This is a question on the minds of a lot of people in today’s market. However, it seems like an obvious answer to me. Then again, I’m in real estate.

Nevertheless, I think you might be interested in hearing my insider’s opinion on why it’s better to buy.

First of all, you have the opportunity to grow your credit when you buy. Purchasing a home is a long-term way to have a positive influence on your credit score.

Also, buying a home will build your equity. You may not stay in this house forever, but the equity you build from it can help go towards your future nonetheless.

You have the opportunity to grow your credit when you buy.

We’ve got a wonderful rental here in Colorado Springs. If you move up to a different property after purchasing your first home, you can still keep your current house as a cash-flow property for your future.

Renting out your previous property after moving to your new residence can be a great way to take on some extra income.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Are Pre-Listing Inspections Worth It?

Sellers often ask me whether or not a pre-listing inspection is worth it. The simple answer is yes. But why is that the case?

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Sellers ask me all the time whether or not pre-listing inspections are important. The answer is, undoubtedly, yes.

While you aren’t required to do them, they can be very helpful to the transaction.

By doing a pre-listing inspection and making any recommended repairs ahead of time, you are put in a better position as a seller.

Additionally, it will make buyers feel more calm in general about purchasing your property.

As another way of helping your listing, we can actually market it using our certified pre-owned program, which can earn you top dollar.

Pre-listing inspections make buyers feel more calm about purchasing your property.

A pre-listing inspection will also allow you to spread out the costs of repairs.

Instead of a one-time lump sum, you will have more freedom to disperse costs across a period of time prior to listing. This way, you won’t be in the bind of being under contract while scrambling to make necessary repairs.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

How Can You Get Your Kids Excited About Moving?

There are many things you can do to make a move fun for your kids. Here are a few of them.

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I grew up as a military brat, so my family moved around a lot. My parents were great about getting us involved in different activities to make the process more fun.

One thing they did was pull out a map and have us guess where our new home was. We also guessed the distance between where we lived and where we were moving to. The winner always got a prize.
 

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The winner always got a prize.

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Another thing is letting the kids help with decorating their room. Get them involved with picking colors, furniture, and more. You can also have them learn about the new location by telling them about the nearby attractions that they can visit.

If you have any questions for me about moving or anything else, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

How Long Does It Take to Close on a Home?

When buying a house, the length of your closing period
depends on you and what type of loan you get.

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How long does it take to close on a home?

The length of the closing period depends on the buyer and the type of loan they get. Getting a loan constitutes the longest part of the closing process. If you don’t use a loan and buy your home with cash, however, you can close within 10 to 14 days.

The longest part of getting the loan itself is getting your documentation to your lender. Make sure you get your loan documents to your lender the same day they’re requested, or at the very least the next day. Once the whole process goes to underwriting, everything stops once the lender requests documentation. The faster you can get them that documentation, the faster you can get to closing.

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The faster you can provide your lender their requested documentation, the faster you can get to closing.

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Typically, the average closing takes anywhere from 30 to 45 days because appraisal times can take a long time to come to completion.

If you have any questions about how long it takes to close a home or you’re thinking about buying or selling a home, feel free to give me a call or send me an email. I’d be happy to help.

How Important Is the Final Walkthrough?

The final walkthrough should be the last thing you do
before closing and it’s incredibly important.

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Today I want to discuss the thing you do right before closing: the final walkthrough. This step is essential because it allows us to go through all of the inspection items the seller has agreed to complete and make sure they are done to our satisfaction. Also, this is a great time to make sure there is no new damage anywhere on the property as a result of the seller moving out. We do this to double-check that the home is in the same condition it was when it first got under contract.

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All of these steps in the final walkthrough should be completed on the last day before closing.

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Lastly, we’ll make sure you receive a vendor checklist. This checklist will have each and every number you could possibly need as a new homeowner. All of these steps in the final walkthrough should be completed on the last day before closing. By waiting until that point, you are making sure that there is no time for anything to change on the property. If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

What to Do When You're Buying and Selling at the Same Time

Today I wanted to share some tips with you that will make it
easier for you to buy and sell a home at the same time.

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The biggest concern when buying and selling a house at the same time is getting stuck with two homes or ending up without a home at all. Here are some things we do to make sure that doesn’t happen to you:

1. We will make sure we list your home at the right price. That way it doesn’t stay on the market for a long time and you lose the ability to purchase a house that you’re interested in.
2. We will make sure that you know about all the inventory out there. Having that knowledge about the available inventory will ensure that you are ready to make that purchase when your house goes under contract.
3. We will make sure your financial situation is in line. That way you are prepared to purchase that home, and it’s a seamless transition from selling a home to purchasing a home.

 

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You can potentially lease that property you just sold back from the purchaser.

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Another thing to consider is that you have the opportunity to do a lease-back program. What that means is that when you sell your home and close on that home, you can potentially lease that property that you just sold back from the purchaser. That way it gives you the opportunity to get into your new home without an overlap or a delay.

If you have any other questions about this topic, or you’re looking to buy or sell a home in Colorado Springs, give us a call. We’d be happy to help!

Are You Ready to Own a Home?

How do you know when you’re ready to buy a home? I have a few tips to help you come up with a strategy.

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A lot of buyers will ask me, “How do I know when I’m ready to buy a home?”

I recommend that you go see your real estate professional. We’d love to talk you through the process. As a certified real estate strategist, I can put a plan together to help you determine exactly when you’re ready to buy.

We will look at different factors on the lending and real estate side to make sure that you are ready to buy a home. First, we have to find out if you will qualify for a mortgage. We’ll look at your FICO score, debt-to-income ratio, and consumer debt. We want to put you in the best situation possible to buy a home.

There are a few other factors to consider. For example, are you in a lease? Are the kids in school? When do you want to move?

Ultimately, you’re the only one who knows when you’re emotionally ready to buy a home.

I can help you get a strategy in place. Ultimately, you’re the only one who knows when you are emotionally ready to move.

If you are thinking of buying a home, just give me a call or send me an email. I would be happy to help you!

How Do You Determine How Much Home You Can Buy?

If you want to accurately determine how much home you can afford to buy, there are two professionals you must speak with.

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Buyers ask me all the time, “How do we determine how much we can afford for the new house we’re looking at?”

First, speak to a lender before you start shopping for a home. They can give you accurate information regarding your debt-to-income ratio and your FICO score, which are the two key ingredients to knowing what you can afford.

On the real estate side, speak to a real estate professional. They will be able to provide you with accurate information that will affect your monthly payment. This information includes what your property taxes will be, what your HOA payments will look like, and how these factors will affect your debt-to-income ratio.
 

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Getting a professional opinion
on both the real estate and lending sides is your best bet.

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You can research some of these things on your own, but getting a professional opinion will best determine how much you can truly afford for the home you intend to purchase.

If you have any questions about this topic, please don’t hesitate to reach out to us. We’d be happy to help you.

Don’t Overlook These Housing Needs During Your Home Search

Here are few things most buyers don’t think about that you should consider carefully if you’re starting your home search.

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When starting a home search, buyers often think about factors like the number of bedrooms, the square footage, and maybe even the location of the home in town. Here are few things most buyers don’t think about that you should consider carefully if you’re starting your home search because they could play a big role in your future purchase.

First, what size of a yard do you want? A larger yard or a smaller yard? Also, what type of landscaping will the yard have and what kind of maintenance will it require from you in the future?

Speaking of future, what will your family’s future needs be? Is your family growing or shrinking in size? Analyze what your needs might be as far as the number of bedrooms in your home and its overall size.
 

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How many bedrooms will your home need to fit your family?

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Next, think about what HOA desires you have. Do you want to be in a neighborhood that’s pristine and well-kept because the HOA is very strict, or do you want to have more latitude in your area and not necessarily even have an HOA?

Lastly, consider which direction your house is facing. In the wintertime, it can make a big difference whether it’s facing north or south.

If you have any questions about starting your home search or would like a home evaluation, don’t hesitate to reach out to us. We’d be glad to help.

What You Can Expect at Our Meeting

If you’ve booked an appointment with me, here’s what you can expect when it’s time for us to meet.

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What can you expect after you set up an appointment with me and it’s time for us to meet? The first thing we’ll do is meet at your place and walk through it for a few minutes to look at any improvements or upgrades you’ve made to the property and what its current condition is. Then we’ll sit down and look at some comparables to fully understand what the market looks like right now. After that, we’ll review our awesome marketing plan so you can see if it matches up with your expectations. Finally, we’ll determine whether we want to team up or not.

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This meeting will help us determine if we want to move forward

selling your home.

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There are three things I’d like you to gather in preparation for this meeting: your utilities from the last 12 months, your mortgage payoff amount and your lender’s information, and your HOA contact information. Having these items ready will help us market the property if we decide to move forward together.

If you have any questions, don’t hesitate to give me a call or send me an email. I’d be happy to help you.

Can You Buy a House Without a Down Payment?

With the El Paso County Bond Money Program, you can get a grant that you don't have to pay back.

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If you don't have money for a down payment, can you still buy a house?

Absolutely.

In fact, there are a lot of down payment assistance programs out there right now that are great for homebuyers. I think the best one right now is the El Paso County Bond Money Program, which is a turnkey program that allows you to buy a house with zero money down. Using an FHA loan, El Paso County will grant you that money for your down payment.

Since it's a grant, you don't have to pay it back and there's no interest. Of course, there are qualifications for this program, but it's the program that I would recommend the most.

There are a couple other great options like C.H.A.C. and C.H.A.F.A.

C.H.A.C. (Colorado Housing Assistance Corporation) and C.H.A.F.A. (Colorado Housing Finance Authority) both allow you to get into a home with no money down. You might need $1,000 in earnest money to put down on a house, but in most cases, you'll be able to get that back at closing.

 

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With the El Paso County Bond Money Money Program, you can get a grant that you don't have to pay back.

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Basically, you can have no savings and buy a house. How great is that?

If you have any other questions about buying a home, don't hesitate to give us a call or send us an email soon. We're here to help.

We Offer Services for Unrepresented Sellers

If you are listing your home as “For Sale By Owner,” we have a few unique services to help your home sale succeed.

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If you are listing your home as “For Sale By Owner,” then we have some unique services to offer that will help you succeed.

First, we can send you a copy of my book, 25 Ways of Buying and Selling Without Going Crazy. It’s a good resource that you can use as a guide to help you sell your own property.

We can also create a video for your home and use technology to make sure that it comes up first on Google. That way you still get great advertising even if you aren’t on the multiple listing service.

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Avoid legal problems by asking us for the right documentation.

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Finally, if you reach out to us, we will make sure that you have all the documentation you need to complete the transaction. There are over 600,000 real estate lawsuits a year, and we want to make sure that you have the tools and documents necessary to avoid any legal pitfalls.

So, if you are selling your home on your own or if you have any other questions about real estate, just give us a call. We would be happy to help you!

What Kind of Mistakes Can Sink a Home Sale?

Avoid botching your home sale by being mindful of these common mistakes home sellers make.

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When you sell your house, there are a few major mistakes you should try to avoid.

The first is overpricing your home at the start. You have to make sure that you don’t take this process too personally. Take the information you get from a real estate professional and listen to their objective opinion on the price. I know you think fondly of your home, but overpricing it can be very detrimental to you in the long run.

 

Once you price your home, no matter what price point you’re at, the market will dictate where you need to price it moving forward. If you need to adjust to the market, make sure that you do so. Many sellers fall into the trap of not adjusting quickly enough based on the number of showings they have or the feedback they get.

 

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Listen to the market, react to it quickly, and absorb all buyer
feedback objectively.

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Speaking of feedback, don’t take any buyer’s opinion personally. That opinion will help you in how you market your home.

If you have any questions about this topic or you’re considering buying or selling a home, feel free to give us a call or shoot us an email. We’d be happy to help.

Why Should You Consider Getting a Home Warranty?

Home warranties are beneficial to buyers, sellers, and homeowners. Here’s how.

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The U.S. News & World Report states that every year, homeowners spend 1% to 4% of their home’s value on repairs and replacements. How can you alleviate some of those costs and concerns?

Get a home warranty!

Home warranties are great for sellers that are looking to sell their house faster, for buyers who are lacking confidence in a home they want to purchase, and for homeowners that have owned their home for a long time but want an extra layer of protection.

If you’re a buyer and you want to make sure the home you’re about to purchase is safe, getting a home warranty will protect you from any and all mechanical problems that could go wrong, even after closing.  

If you’re a seller, the psychology of selling your house is the most important thing. When a buyer comes through your house, they want to feel safe and protected. When they leave one of your showings, you want to make sure they have the least amount of questions in their head so they’re more apt to write an offer. Having a home warranty will provide that conscious and subconscious belief that you’re taking care of them and that they’re protected in the transaction.

A home warranty can save you thousands of dollars over time.

For all homeowners, having a home warranty can save you a lot of money. A furnace could go out, for example, and cost you $3,000 to $4,000 to replace. A home warranty, by comparison, costs only $300 to $400 a year. You could have a home warranty for 10 years and, over that time, if you replace the furnace just once, you’ll pay for the cost of the home warranty. This can include many other mechanical items that the home warranty could be used for besides the furnace, too.

If you have any questions about this or any other topic, please feel free to give us a call or send us an email. We look forward to talking with you!