Archives for August 2013

Smoking Negatively Affects Home Values

August 27, 2013 by admin

Wallingford PA Real Estate - Wallingford, PA - Smoling Odros Can Decrease A Home's Value

Smoking Odors Can Turn Off Buyers Big Time

As if the negative health effects and cost of cigarette smoking are not enough to get you to stop, a recent article in the Chicago Tribune cites a survey of 400 Canadian real estate agents and brokers, sponsored by Pfizer Canada, found that smoking in the home could lower the value of your property by up to 29 per cent.

A heightened awareness by non-smokers of a home with smoking odors can make a smoker’s property difficult to sell. Smoke can permeate almost all surfaces and fabrics in a home and leaves odors and smells that are difficult to eliminate.

The impact of smoking in the home is not just cosmetic – it may significantly affect property values. Almost half, 44% of real estate agents and brokers surveyed said smoking in the home affects resale value. Of these, 32% said smoking in the home may lower the value by 10-19% and another 32% said it may lower the value by 20-29 per cent.

Over half of the survey respondents say buyers are less likely to buy a home where the owners have smoked, with 27% of that group unwilling even to consider a home in which the sellers smoke.

Wallingford PA Real Estate – Wallingford, PA 19086

Roof Maintenance

August 23, 2013 by admin

A home’s roof is an important part of its curb appeal, and is something that will quickly catch a homebuyer’s attention when assessing your home. Because they are also relatively costly to replace, roofs tends to attract a very critical eye. You can protect the investment you’ve made in your roof, prolong its life and help ease buyers’ concerns by performing regular maintenance.

First, be sure to clean your gutters twice a year – in the fall and spring. Clogged gutters can lead to a multitude of problems, including damaged paint on siding, a wet basement and even major roof damage. If your gutters are full of leaves, water is forced upward where it can be absorbed by, and even rot, roof sheathing and rafters.

In addition to the gutters, you should also remove leaves from roof valleys and from around chimneys. Leaves that are left on top of the roof will trap moisture and decompose, allowing moisture to build up on the roof and possibly lead to weed growth. There are many ways to remove leaves, including a roof rake, blower or hose. Just take care not to use a pressure washer which can force water under the shingles.

You should also have overhanging branches trimmed regularly so they are 10 feet away from the roof. Not only will this help keep leaves and moss off your roof, but it will also help protect your roof from damage from branches blowing in the wind, as well as from squirrels and other rodents who can no longer gain access to your roof from the trees.

Above all, be constantly checking the roof for curling, loose or missing shingles, especially after a storm. If anything appears to be wrong, call a roofer as soon as possible to limit damage.

Wallingford PA Real Estate – Wallingford, PA 19086

Mistakes To Avoid When Selling Your Home

August 20, 2013 by admin

Get Prospective Buyers Through Your Door

There are a myriad of reasons why some homes linger on the market for an extended period. Time and time again sellers make the same mistakes when putting their home on the market, most of them easily avoidable. So if you are considering putting a For Sale sign in your front yard try to avoid some of the most common seller mistakes.

Pricing

Face the facts, home prices do not always go up, as the market can attest to in the past several years. Base your list price on solid comparable sales data with a mix of what the current competition is, to come up with a market based price. That is what the buyers and appraisers are going to do.

The only person whose opinion matters is the buyer who makes an offer. Pricing homes is part art and part science. It involves comparing similar properties, making adjustments for the differences among them, tracking market movements, and assessing the stock of present inventory, all in an attempt to come up with an educated opinion of value.

Many homeowners however choose to ignore these facts and attempt to list their home with an unrealistic price rather than a price that reflects current real estate market conditions. If a home is priced too high, it’s invariably going to sit until the seller is forced to make price cuts which can signal to buyers that there’s more room for negotiation.

In the past month, 23 percent of homes on Zillow have had their listing price reduced. Locally of the 91 listings currently on the market, 49 have had at least 1 price reduction, that amounts to 54% of the Wallingford homes listed.

Remember buyers are oblivious to:

– What you paid for your home

– What you need to make on the sale of your home

– What you want to make on the sale of your home

Whatever you do, be wary of the agent who suggests the highest listing price for you home. Unless the agent is willing to buy your home for an inflated price, the next thing you will see is a request to lower the price, but they got their foot in the door didn’t they?

Trying to Hide Problems

Any problem with the property will be uncovered during the buyer’s inspection, so there is no use trying to hide it. Either fix the problem ahead of time, or price the property below market value to account for the problem. Realize that if you do not fix the problem in advance, you may turn away a fair number of buyers who want a turnkey home. Having your home inspected before listing it is a good idea if you want to avoid costly surprises once the home is under contract.

Even minor issues like a broken doorknob raise questions to a potential buyer. They may wonder whether the house has larger, costlier issues that have not been addressed.

Not Preparing Your Home for Sale

Sellers who do not clean and stage their homes are leaving money on the table. You do not need to hire a professional, there are many things you can do on your own. Failing to do these things will not only reduce your sale price, but may also prevent you from getting a sale at all.

Pay attention to your agent’s comments and suggestions on preparing your home for sale. Have a friend over to get a unbiased opinion on areas of your home that need work – because of your familiarity with the home, you may have become immune to its trouble spots. Turn on the TV any night and you can see a number of programs that discuss what and what not to do with your home as you prepare for potential buyers. Decluttering, cleaning thoroughly, putting a fresh coat of paint on the walls will also help you make a good impression on buyers.

Last but not least – do not ignore pet and smoking odors in your home. I have been with buyers who have immediately walked out of a home due to odors.

Not Accommodating Potential Buyers

It is not convenient to sell your home. If someone wants to view your house, you need to accommodate this person, even if it is inconvenient for you. Forget about requiring 24 notice. Like it or not consumers are demanding and want things now, make them wait and they will move onto something else and not come back. And yes, you have to prepare the house before every single visit. A buyer will not know and will not care if your house was clean last week if it is not clean when he or she views it. It’s a lot of work, but stay focused on the ultimate goal.

Do not try to be too accommodating by being present for showings. One of the worst things a seller can do is to follow around a prospective buyer while they tour the home. You might view this as trying to be helpful, but believe me it only makes the buyer uncomfortable and less likely to take the time to thoroughly tour the home. Give them their time and space to tour and view the home on their own.

Ignoring Visual Appeal

With over 90% of buyers first seeing a home online, it is critical that the images of your home are of high quality. There are many times I see listings in the MLS with no pictures, or pictures so bad they defy description. Review with your agent the photos that will be displayed. I like to walk a buyer through the house beginning with several outside shots, then organize pictures as if they were walking though the home. Include shots of important spaces like the kitchen, living rooms, family room and bedrooms. Emphasize the visual qualities of your home that made it attractive to you. Remember you were a buyer once too. Make sure to declutter; a picture filled with your personal belongings will make it harder for a potential buyer to picture themselves as the next owners of your home.

Wallingford PA Real Estate – Wallingford, PA 19086

Staging Your Home’s Exterior

August 15, 2013 by admin

Spruce Up Your Homes' Curb Appeal - Wallingford PA Real Estate - Wallingford, PA 19086

Make A Good First Impression From The Curb

It has been said time and time again that you only get one chance to make a good impression, and that a prospective home buyer begins forming an opinion of your home as soon as they drive up to the property. With that said you need to make sure that you home’s exterior is at it’s best for a potential buyers vital first impression.

These four exterior areas of your home can be easily staged – just like the interior of your home – in order to maximize your curb appeal.

EXTERIOR: Peeling paint is an is an obvious item to check for. Scrape and repaint any areas that need attention. Do you also know that financing such as FHA insured mortgages requires that all peeling paint be remedied? Exterior hardware, such as house numbers and door latches should be shining, or replaced if tarnished beyond help. Does your roof have any missing shingles? If your vinyl siding is dirty, have it power washed. Your windows should be sparkling clean both outside and inside. Your gutters should be free of debris, preferably with nothing growing from them, and while you are at it make sure your downspouts extend away from the foundation.

PATIO AND DECK: Rid your patio of any weeds or moss build up. Pressure wash bricks, pavers, and outdoor furniture that is looking dingy, and make a clean sweep of the patio. In warm weather add some flower pots or planters to add a splash of seasonal color. Do you have a patio table with an umbrella.? Why not open the umbrella and set the table for an outdoor meal? Make sure you patio, walkways, and deck are swept clean of debris. If your wooden deck is in bad shape replace any badly split decking and consider repainting or resealing the deck for a fresh look. Home Depot has some new deck restoration products that can easily remedy neglected decking.

DRIVEWAYS AND WALKWAYS: Is your driveway in good condition? Does it need a fresh sealcoating? Your driveway serves as the initial entry point to your property and should be in the best condition possible. If you have sidewalks, are they in good condition, are the concrete blocks level with each other and free of cracks? Many municipalities will require you to make sidewalk repairs as a condition for obtaining a Use And Occupancy permit if they are judged to be in poor condition, so if you are going to have to do it anyway you might as well make any necessary repairs before you start showing your home. Brick or paver walkways should be kept clean and examined for uneven surfaces.

YARD: You will need to mow and weed the lawn regularly in the warmer months, and keep on top of leaf removal in the fall and snow removal in the winter. Overgrown shrubbery should be cut back or removed to prevent blocking the view of your home from the street. Laying down fresh mulch is an inexpensive way to spruce up your borders and flower beds, and complement the flowers that you have planted.

It will take a little effort to stage your home’s exterior, but it is gratifying to see the improved curb appeal that these relatively simple tasks can bring to your home.

Wallingford PA Real Estate – Wallingford, PA 19086

Is The First Offer Always The Best Offer?

August 14, 2013 by admin

Wallingford Real Estate - Wallingford, PA - Multiple Offers - Bidding Wars

Do Offers Get Better With Time?

Unlike fine wine, offers to purchase your home do not get better over time.

Believe me, your first buyer is more often than not your best buyer. Real estate agents everywhere will tell you that they have seen this to be the case time and time again. I was speaking with a agent recently who has been in the business for thirty plus years and she could not ever recall an instance where a subsequent offer bested the first. Generally speaking, the potential buyer who makes the first offer is motivated and ready to do business. The first offer might be lower than you would like, but that’s what negotiations are for.

You can hold off in hopes of better offers, but many times properties sit on the market too long growing stale because the seller did not work with the first buyer. Months later, the seller ends up taking less than the first offer they received. By this time, that first buyer has already bought and moved on. The seller is kicking themselves for not making it work.

Remember time is not on your side as a seller. Time is a seller’s enemy, and a buyer’s ally. As days on market increase buyers seize the opportunity to drive the price lower, and are very cognizant of how many days your home has been listed. They will use time as ammunition in the defense of their offer.

While you may see it as an insulting “low ball” offer coming out of left field, you should still look closely at a first offer. Who is the buyer? How long have they been looking? Are they testing the waters with the initial offer, trying to see how motivated you are? Have they written other offers nearby? Is this offer actually a number that is close to the number your real estate agent initially suggested?

As hard as it may seem to contemplate an offer lower than your asking price, serious sellers should look at all the signs leading up to it and consider if this is the offer to accept. Trust the phrase:

The first offer is always your best offer.

Wallingford Real Estate – Wallingford, PA 19086

Archives for August 2013

S. Clark Kendus