One of the biggest, most gut wrenching parts of a home sale experience has got to be the inspection contingency. Most home buyers want to and should hire their own home inspection, but sellers should have one before they list the home as well, and here's why:
When you have a pancake deal, two homes and three parties involved, how do you handle occupancy?
I always try to get everyone on the same page and plan a weekend type move with the first part of this domino moving out first by closing day. I always get a headache moving the one in the middle. The party bringing the money that starts this whole deal usually wants in right after they sign the papers. I have heard that it is customary to give the seller extra days to move out after signing at closing in order to move in some areas. We have the middle person in a uhaul at the Title Company signing papers.
We have various methods of getting this done in Billings Montana, what do you do?
Let's get local!
Sometimes the National News just makes you wonder. What should I believe? Are homes still selling? What about my neighborhood?
Here are a few facts that may help you.
In the last 90 days, 11 homes in Area 1 have sold in less than 30 days.
That's good. These homes were priced to sell and the buyers thought so too.
A few of those that sold are listed along with the percentage of listed price compared to sold price:
Just workin the neighborhood!
Not too long ago, ok maybe a long time ago (35 years seems like just a while back), my MOther In Law had a 6.25% 30yr fixed mortgage on her home. I said "don't ever pay that off, you won't get money any cheaper", the going interest rate on a new home loan was somewhere in the vicinity of 12%. This is a new day.
The lenders are shouting with joy right now, because after being called the scum of the earth for helping people get into toxic loans (not the case around here, 3rd lowest rate of foreclosure), they are now the HEROES of the hour with rates at 4.5% to 5% 30 year fixed mortgages. $$$ cha ching! More dollars for you in your pocket, more dollars for them in transaction fees. Even more interesting are the folks coming out of the woodwork wondering if the bottom is here.
Should I upsize, downsize or buy more for investment? Since our local sales volume is down 20%, you would think our prices would be going down. Not so, we actually increased by about $3,000 for average sold price on an average in the $196,000 range.
Anything that is priced right around here is selling in less than 30 days, overpriced stuff still sits and waits. People who are wondering where the bottom of the market is should come over to my office and check my crystal ball! If you knew the stock market had peaked and was headed down, did you pull all of your stocks or loose 25% to 50% of your 401K like I and a lot of my friends did? Can you live in your 401K?
Buyers are missing out on really good deals because they get burned out trying to find the desperate price instead of the best house for the money!
We just had a homeforecasters.com report come out that "forecast" the Billings Montana market will appreciate 3.1% for 2009. Humm, I wonder. I'll just have to check my crystal ball.
I was searching through the expired listings in my area this weekend, and yep, lots of weird paint colors on the interior walls. I actually love some of the daring reds people are putting on their walls, but lots of folks just don't have the guts or the furnishings to make it work. Let's face it, power paint jobs are great if you like them, but get over it when you put your home on the market.
If you don't feel like painting over the color, with the 2 coats of primer and 2 coats of new color; a buyer won't either. I think you just reduce the chances of "grabbing" the interest of a buyer who wants to put their own "color scheme" to their new home.
In my job, I've heard this a number of times "I love that color, I'm so proud of it, lots of people comment on my wall. Ok, but are they buying your house? I have a good friend who is a power painter, I loved her red wall but not her aqua blue bathroom or her aqua green master bedroom. I grabbed her by the shoulders and shook her, gently of course and with love, and told her "we can't put this house on the market until you paint". She really thought I had insulted her artistic talent and creative energy and wanted to go ahead and make a few but not all of the changes. Guess what everyone kept saying that looked at or showed the house! "Wow, these people really love their paint". Keep in mind, most people don't think about the "paint job" when they look at a house, only that it looks good if it's one they want to buy!
Another dear friend heard me when I said I loved the paint job, but it has to go before we put the home on the market. "Oh I love that red wall, but ok, I'll fix it with a neutral tan". Her home sold in 7 days. Need I say more!
 |
|
|
Proud member of “The Windmill Gang” riding the range in a small SUV providing the best Real Estate Representation for Buyers and Sellers in Yellowstone, Stillwater, Carbon, and Musselshell County!
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
