Facebook may change the world of real estate in California soon
For Silicon Valley residents, the looming Facebook IPO looks to be causing a frenzy in the surrounding real estate market. Homes and agents are eager to sell houses as a result of the pending IPO. See this article from CNNMoney.com. If you live in Palo Alto or the surrounding area, you may make a boat load on your real estate soon. We will see.
Wow. What? Yes, I have said it before, but it now may be backed up with evidence. A Moody’s analyst, Chen Chen, says that housing recovery to pre-recession levels may not happen until 2032 for Las Vegas, 2034 for Phoenix, 2036 for Salinas, CA and 2038 for South Florida – particularly Naples. This is definitely cruel and unusual, but it is directly tied to amount of investment and second home traffic they were expecting. Unfortunately, no one in the cold states or developers have any money left to buy these properties. Should we just bull doze them over? Probably not. If we do that, those cities will look Detroit, Cleaveland and Buffalo. Yikes.
Take a look at the article here.
It has been found that most home sellers hire a real estate agent not on his/her qualifications, but on how the agent makes them feel inside. Basically, it’s an emotional decision, not a well thought out decision. Ask yourself; is this the best way to go about finding a real estate professional to sell your most valuable asset?
It is also necessary to treat this much like an interview. Wise home sellers will do there research into the services that the real estate agent offers and inquire about their past track record. Home Selling is a complicated process and you need to be well prepared.
Agent Questions:
When searching for an agent to list your home, you should ask as many questions as possible to ensure that the agent can successfully satisfy your goals in selling your home.
Here is a list of 15 recommended questions.
Some of these questions will take the agent some time to answer. To be fair, provide these questions to your prospective agents in advance so they can be prepared for the interview.
Article Source: http://www.homestagingchannel.com/home-selling-strategies-top-15-interview-questions-to-ask-a-real-estate-agent-i-360.php
From About.com
A large percentage of home buyers decide whether or not to look inside a house or take it seriously based on its curb appeal—the view they see when they drive by or arrive for a showing. You can help make sure they want to come inside your house by spending some time working on the its exterior appearance.
It’s difficult to look at our own house in the same way that potential home buyers do, because when we become accustomed to the way something looks and functions, we can’t see its faults. Decide right now to stop thinking of the property as a home. It’s a house—a commodity you want to sell for the highest dollar possible.
The next time you come home, stop across the street or far enough down the driveway to get a good view of the house and its surroundings.
Park where a potential buyer would and walk towards the house, looking around you as if it were your first visit. Is the approach clean and tidy? What could you do to make it more attractive?
Take photos of the home’s exterior. If you have a digital camera, view the color versions first, then remove the color and look at it in black and white, because it’s easier to see problems when color isn’t around to affect our senses.
Make a list of the problem areas you discovered. Tackle clean up and repair chores first, then put some time into projects that make the grounds more attractive.
Buyers doing a drive by will try their best to see your back yard. If it’s visible from another street or from someone’s driveway, include it in your curb appeal efforts.
Do your curb appeal exercise again at dusk, because it isn’t unusual for potential buyers to drive by houses in the evening.
One quick way to improve evening curb appeal is with lighting:
There are times that adding elements to your landscaping can improve curb appeal, but there are other times when removing something is even more effective.
For example, we had a listing for a large brick house with large white columns. Tall evergreens, planted in front of each column, had grown taller than the roof. They obscured the columns and windows and made it difficult to see the front of the house.
We suggested that the owner remove them. She trimmed them back, but it didn’t do the trick—they were unattractive and still kept potential buyers from seeing the true character of the house.
I sold the house to a couple who could see past the trees. One of their first tasks after closing was to yank them out of the ground, instantly boosting the home’s curb appeal.
Most buyers cannot visualize changes, and often won’t take a second look at a house if the first look doesn’t appeal to them. Home buyers who can visualize changes, and are prepared to make them, expect you to reduce the price of the house to compensate for the work they plan to do.
If you brainstorm, you’ll find that there’s a solution to most problems—one that lets you stay within your budget. The trick is to find the areas where improvements are needed, then work on them as best you can.
Here is an easy way to get rid of surface mold: Mix a spray bottle with one part water and one part bleach. Just spray it on the wall, and watch the mold disappear. Give it a fresh coat of paint, and your grimy bathroom will go from red flag to red-hot.
A grimy glass shower door can really wash out your sale. Instead of replacing it, clean it with a mixture of one part muriatic acid and about 10 parts water. Scrub with steel wool. After wiping it down, reinstall the door and you’ll have a shower that’ll help you clean up at the open house.
Bathrooms sell houses, but dated tile in a bathroom doesn’t. A low-cost alternative to replacing the tile is to use paint. First coat the tiles with a high-adhesion primer. Next, brush on a special ceramic epoxy covering. For a fraction of the cost of new tile, you will have an up-to-date bathroom that brings in big bucks.
They show off square footage in small bathrooms beautifully. First, your old vanity has to go. Next, just hook up your new sink, and your bathroom will have dramatic appeal that brings in big bucks. Plus, buyers will see how much floor space your bathroom has.
When you are selling, your master bedroom should appeal to buyers of both sexes. Get rid of features that seem too gender-specific. Paint the walls a neutral color, and choose bedding that matches. Then accessorize with items that complement the overall color scheme.
Here’s an easy way to tone it down with paint. Use a rag or brush to rub a light coat of paint on the bricks, one at a time. This will give them a new tone without covering them completely. And, if you use a paint color that matches the walls, your fireplace will go from sticking out to standing out.
After removing the screen and wiping it down to get rid of the dust, mask off the windows so you won’t get paint on them. Then, using a can of heat-resistant spray paint, give the screen a facelift. Hold the can about 18 inches away, and use long, even strokes. For less than $5, you will have a fireplace screen that’ll keep your sale from going up in smoke.
Need to turn an unattractive fireplace into a selling feature? First, that dated brass screen has got to go. Next, give the fireplace a good cleaning, scrubbing it with soap and water. Then, using a stone color enhancer, polish the bricks to make them shine. In no time you will have a fireplace that will turn your house into the hottest property on the block.
Stain dated kitchen cabinets instead of replacing them.
Instead of paying big bucks to replace them, just stain them. First, apply the stain in even strokes, going with the grain of the wood. Add some stylish hardware, and your kitchen will have the up-to-date look that buyers love, for less than $200.
Instead of buying a new dishwasher, here is a low-cost way to resurface an old one: First, remove the front panels, and clean them. Next, apply a stainless-steel stick-on covering, and cut it to size. For just $20 your dishwasher will go from outdated to ultra-modern.
First, dip a toothpick in glue and place it in the stripped hole. Cut off the excess piece. Once the glue dries, you’ll be ready to put in the hardware that buyers love.
Granite countertops are a huge selling feature, but they can be expensive. Here are a few ways to save on this investment: First, do the demo yourself. Also, ask the vendor for remnants from previous projects. Remember, any money you spend will definitely be returned in the value these beautiful counters add to your kitchen.
Studies show that new kitchen appliances bring high returns from sellers, so get rid of old appliances that make the rest of the kitchen look dated. Once you install the new equipment, it will scream “new kitchen,” and you will see that spending a little money will make you even more.
Here’s a trick: Use place mats. First, apply a hook-and-loop fastener to the place mats and attach them in a row to a basic curtain rod. Now that the place mats are attached to the curtain rods, pin them together at the bottom, and you’ll have a stylish valance that costs about $12.
First, isolate damaged boards, cut them out and replace them with new pieces. Rent a sander from a local hardware store, and give the floor a good sanding. The last step is to stain the boards with a rich color, and watch your floor go from drab to dramatic in no time.
There’s a fine line between filling them with clutter and staging them to sell. The trick is to arrange neutral items in clusters. Make sure that no single accessory stands out too much. That way, you’ll show off your attractive built-ins, and not your personal belongings. Curb appeal is vital to attracting buyers.
Here is how to stop traffic using color. First, with two tones of paint, add a faux finish to any corner keystones. Next, bring out the color of walkway pavers using a stone sealer. Plant flowers in bloom, and you’ll have buyers swarming like bees to your front door.
To give your outdoor space new life, first sand the wood. Cover it with a light-colored stain instead of paint to give it a rustic, grainy look. Furnish it for entertaining, and watch your open house turn into a party.
Do you have a red-brick patio surface that needs to be freshened up? Here is an easy way to give it new life with paint. First, roll a light coat of paint onto the bricks. Next, lightly spray them with water and then dab them before they dry to give them an outdoor look. When you are done, you will have a patio that looks fresh and reels in buyers.
Clear out clutter or other personal items that will distract buyers. Paint the walls a neutral tone, and furnish the space to show off how functional it is. When buyers come through and imagine themselves there, you can bet an offer isn’t far behind.
Instead of ripping it out, cover it up. Use wood filler to carefully fill in all the cracks between the panels. Then, use a sponge to wipe away the excess filler. Once it’s dry, paint the room. You’ll see an unattractive wall go from standing out to blending in.
Rearranging a room to stage it for your open house? Here is a tip to save time and effort: Instead of lugging the heavy furniture around the room to see what feels best, put outlines on the floor with painter’s tape. Arrange the room according to your outlines, and save your energy for counting offers.
Laying vinyl tile is an inexpensive way to update your home, but there’s a right way and a wrong way to do it. You need to avoid laying patterns that look too perfect. Instead, make sure to switch up the direction and placement of the tiles to mix the tones. That way, you end up with a floor that has a natural feel. Let the sun shine in.
Buyers love light and airy living rooms, but dark and dingy isn’t on their list. Open up your window shades to let some light in. Cheat some sunshine with a light-colored paint and lots of artificial lighting. You can never have too many lamps. Last, arrange the space with lightly colored furniture, and you’ll have a living room that brightens your chances of a sale.
Potential buyers are confused by extra rooms that have a mishmash of uses. To avoid this problem, first clear away clutter and excess furniture. Paint the walls a neutral tone and then furnish the room with a desk to stage it as a home office in which buyers will want to get down to business.
We all love our pets, but unpleasant pet odors can make a negative first impression. Be sure to get rid of old carpet that can trap offensive smells. Replace it with fresh new carpet in a neutral color. Plus, if you paint the walls to match, your living room will look bigger. It’ll go from designed to smell to designed to sell.
An overpacked living room is a red flag to buyers that your home lacks storage space. Pack up unneccesary items and furniture, and move items to your garage or a nearby storage facility. Clear the way for a sale by letting buyers see your square footage, not your personal belongings.
Potential buyers love homes that have lots of storage space. Since they will open your closets, it’s a good idea to clear out unnecessary clutter, and organize your shelves to show off how much storage you really have. Plus, it gives you a chance to start packing, as you will definitely be moving once buyers see all that closet space.
Buyers are attracted to homes that have a good flow. You can create circulation by replacing square or rectangular dining tables with round ones. Cutting the corners adds room to this maneuver and creates a spinoff effect that adds flow to your home — cash flow, that is.
Want to create better flow in your house? Start with the floor. Join two rooms together by using the most cost-efficient material in the book: vinyl tile. First, use a snap-line to create a center point between the two rooms. Next, the fun part: Peel and stick the new vinyl tile down, and watch your kitchen and dining room go from old to sold!
by Lisa LaPorta of HGTV