Sellers: How to capitalize on the $8,000 tax credit

Time to capitalize on the federal tax credit of up to $8,000 for first time buyers is running out. As is the opportunity for home sellers to benefit from this incentive as well.

"If you have a home on the market, getting as many of the "first-time" buyers in as possible right now is even more important than usual," says Rich Ferretti of Jamison Realty, "the typical first-time home-buyer really wants to be able to cash in on the credit, and so they are in a buying mood. And time is running out"

For the first-time home buyer, it is easier to imagine themselves living in a clean, well-cared for, and functional space. As a seller, you can make your home more inviting to buyers by making sure the home-improvement projects are done. Your home will show better and bring in offers faster if it is "move-in ready".

Here are some ways to make your home sell fast to those first-time buyers:


1. Maintain and Stage. A fresh coat of paint and a serious look at decluttering will go a long way, but don't overlook what a professional Home Stager can do for you. Staging professionals boast that the cost of staging will always be less than the first price decrease--so it pays for itself! This will help make the house feel like a home to anyone who comes to see it!

2. Offer to Help Pay Closing Costs. First time buyers especially may need help with points or closing costs. if you can help with this, you will attract many more potential buyers, and may be able to close the one the counts!

3. Offer a Home Warranty. First-time buyers will consider it a huge selling point if you stand behind the house's integrity and that of the major working parts (roof, water heater, AC). You can offer a warranty that will take care of any needed repairs of the major items. Work through your agent to get this on paper, and the message to potential buyers.

4. Offer Mortgage Protection. Mortgage protection covers several months of mortgage payments in the event that the buyer becomes unemployed. This insurance is a great option for most buyers, and first-time buyers may feel especially inclined to choose a home that offers it.

5. Low Offers Aren't Always Bad. Just because an offer is WAY below what you would reasonably take, doesn't mean you shouldn't at least counter. The market is at a place now where buyers feel that they have the upper hand, and are being very aggressive looking for bargains. If you get a super low offer, don't dismiss them immediately, counter with an appropriate number. If they walk away, that is fine, but if they really want the home, you will see them again. Work with your Buyer's Agent to price the home right in the first place, and then to navigate the offers when they come in.




Want more information about the Mint Hill, Matthews and Charlotte area real estate market?
Check out www.minthillrealty.com

The Importance of Curb Appeal when Selling your Home

Potential home buyers make a lot of judgments about a house before they even step inside. Curb appeal – or the view they see as they drive buy or up to the house, will determine if the buyer feels welcomed, and if they feel the house is worth further considering.

So many houses are taken off a list before anyone even gets a chance to step inside!

Sometimes it is difficult to look at our own homes the way a potential buyer would. It is natural to become accustomed to the way things look and work, and we lose our ability to see the faults or areas of improvement. You need to pull yourself out of this way of thinking if you are trying to sell, and stop thinking of the house like your home—it needs to be just a property—something you want to sell for the highest amount possible.

Try this exercise: The next time you drive up to your house, slow down as you approach. Take in the surroundings, the other homes, the yard, the trees. Look at the driveway. Does it need to be re-paved? Could the yard use edging or mowing? What is the first impression your house and yard give? What is a positive aspect of the property that you could enhance? Look at the other homes in the neighborhood. What are they doing right? What is attractive about their lawns, gardens, houses?

Next take pictures of the exterior of your home and property from various angles and have them developed. Looking at the house and yard in this way will help you remove the connection and see it the way others will. Show the pictures to friends and consider going to a garden store to see what they might recommend for landscaping.

Then clean up the area, make repairs as needed, and trim the trees, shrubs and lawn. Pick up leaves and tidy the flower beds. Remove old or dead plants and overgrowth. If it is in your budget, hire a professional to do the clean up and the planting. A landscaper will not only be able to see things that you cannot, but spend the time on the highest value activities, or the ones most difficult for you to do on your own.

The more of an investment you put into the curb appeal of your home, the more you will get out. This is one area that could mean getting more people to see the house, and increasing your chancing of selling faster, and at a higher price.

Remember you can’t sell your home if people aren’t interested in walking through the front door and taking a tour!

(c) 2009 Rich Ferretti
www.richferretti.com

Want more information about the Charlotte area real estate market? Check out http://www.richferretti.com/

Selling your home in Charlotte, NC

Dear Rich,

My husband and I are moving to the Ballantyne area from Uptown Charlotte. We know that this is a good time to buy -- and yet we obviously have to sell as well. Our home is in a desirable area and is a great home. But what can I do to get more people in, and have a higher chance of getting the old house sold so that we can seriously start looking at the available homes in Ballantyne.

Michelle in Uptown Charlotte (and hopefully soon... Ballantyne!)

Dear Michelle,

The real estate markets all over the country are going through a transition, and while the Charlotte market is strong, the days of quick sales and bidding wars pushing the price way up have past. If we look at thing realistically, homes are not selling as quickly as they have in recent years - good news for buyers (like you!) but bad news for sellers (like you!). But ultimately, homes still sell. Some go fast, and many will sell at prices that the sellers are happy with. There are of course ways you can give your house the best chance possible to sell quickly and close to your asking price. Here are a few ideas:

1) Clean and De-clutter. Less clutter in your home makes it look bigger, and cleaner. Go through your house and take away the garbage, junk and clutter--then go back through and put your off-season clothes in storage, (to make the closets look neat and big), and even consider removing some furniture if it is unnecessary.

2) Price it right. A home that is priced well above the neighborhood or above similar style and size homes will not sell quickly--maybe not at all! Your agent will work with you to get comparables and price the home right the first time.

3) Use a great real estate agent. A good real estate agent or broker can make all the difference in the world when we are in a "buyer's market." Hire an agent who knows the market, your area, and how to best advertise your property. It is perfectly acceptable to interview real estate agents and ask for references.

4) Fix it up! Interested buyers will ask for a home inspection. You’ll save time by getting a preliminary home inspection done and making repairs before your house goes on the market.

5) Be open to constructive criticism. Get feedback from potential buyers after a showing or open house. Accept negative comments openly, and as ideas for making your house more attractive at the next showing.


Best of luck finding a new home in the Ballantyne area, please do let me know if I can be of any assistance.

Regards,
Rich Ferretti

Want more information about the Charlotte area real estate market? Check out www.richferretti.com