Real Estate Success with Andrea Scott

The kitchen comes first!!

2010-07-30T11:00:00.000-07:00

You’re not actually selling your house, you’re selling your kitchen – that’s how important it is. The benefits of remodeling your kitchen are endless, and the best part of it is that you’ll probably get 85% of your money back. It may be a few thousand dollars to replace countertops where a buyer may knock $10,000 off the asking price if your kitchen looks dated. The fastest, most inexpensive kitchen updates include painting and new cabinet hardware. Use a neutral-color paint so you can present buyers with a blank canvas where they can start envisioning their own style. If you have a little money to spend, buy one fancy stainless steel appliance. Why one? Because when people see one high-end appliance they think all the rest are expensive too and it updates the kitchen.

For more info on real estate, please contact Andrea Scott

Hold open houses to sell your home fast

2010-07-29T11:00:00.000-07:00

The benefits of an open house are debatable. Industry experts agree that they tend to benefit realtors more than home owners. But that doesn't mean that they can't work. The key is to hold them at various times of the day and week so that folks with busy schedules can squeeze in a viewing. Make sure to schedule open houses on Saturdays, as well as in the evenings during the week so people can stop by after work.

Incentives: Offering incentives sometimes can also help shorten the sales cycle, but be careful. In many cases incentives don’t always do the trick. Remember there is a fine line between wanting to sell a house quickly and having it look like it's a fire sale. If prospective buyers get the idea that you're desperate to sell, they will try to get you to accept a bargain-basement price so try not to let on that your looking to sell your house fast.

For more info on real estate, please contact Andrea Scott

Use A Quality Yard Sign

2010-07-28T11:00:00.000-07:00

Many people who are looking to buy a home will decide upon the neighborhood in which they’d like to live and then drive around that neighborhood looking for homes for sale. For this reason a good sign could make a big difference.

While your sign will probably garner less interest than more informative means of advertising like web listings or a fact sheets it’s a great potential source of word-of-mouth from your neighbors and passer byers.

Using a high quality sign that displays an internet address where potential buyers can go to see color photos and to learn more about the home. A cheap looking sign will detract from the otherwise attractive appearance of your home. Even worse, a bad sign could turn off potential buyers by causing them to wonder what else you have tried to cut corners on.

For more info on real estate, please contact Andrea Scott

Give Your Potential Buyers Some Space During Showings

2010-07-27T11:00:00.000-07:00

Buying a home is always an emotional decision. Potential buyers like to get a feel for a house to see if it will be comfortable for them. Even though you know every aspect of your home, buyers will never be comfortable if you follow them around, telling them every improvement that you have made.

Giving the buyer some space and resisting the temptation to list every feature and aspect of the home, will allow the buyer to better visualize living in the home him/herself.

For more info on real estate, please contact Andrea Scott

The 10 most common home defects

2010-07-26T11:00:00.000-07:00

Wondering what might be wrong with that house you are considering selling?

Long after the "For Sale" sign appears, a home inspection may reveal big surprises, which can become a matter of negotiation that lowers the price or costs extra to be repaired by a deadline tied to a scheduled closing.

Anticipating repairs by identifying potential problem areas can save money.

The 10 most common home defects are:

Poor drainage that allows water to damage the foundation.
Faulty heating or cooling systems that are also energy inefficient.
Mold, asbestos and other environmental hazards.
Inadequate ventilation.
Neglected maintenance of household appliances.
Plumbing problems.
A leaking or damaged roof.
An addition or other major project completed without the necessary permit.
Electrical issues.
Rotten wood, whether inside around bathtubs, showers and toilets or part of the home's exterior, such as the outside trim, roof eaves or deck.

For more info on real estate secrets, please contact Andrea Scott

Love at First sight...

2010-07-24T11:00:00.000-07:00

If you want to attract a buyer, start by catching their eye. Before a buyer ever makes it to your front door, the first introduction they’ll have to your home will probably be the picture you’ve included with your advertising- on your internet listing or on a brochure. It pays — literally — to know how to photograph your home in its best light.

Before you take any pictures, make sure that your home is picture perfect. A little effort goes a long way, and this is the time to channel your inner Ansel Adams.

Stand in front of your home and take a visual assessment. How do the shades in the bedroom window look? Does it look nicer with the curtains in the living room drawn or open? If your flowers aren’t in bloom, it might be a good idea to move that planter off the porch and out of view. Mow the lawn, and trim any shrubs or trees. Remove any toys, sports equipment, or accessories from the yard- you might think your lawn gnome is adorable, but it could turn off a potential buyer. Wait for a sunny day before you pull out the camera. The best time of day to photograph your home will depend upon which direction it faces. You’ll want the sun behind you, shining on the front of your home.

If Your Home Faces...

WEST: Take photos in the evening, within two hours of sunset.

EAST: Take photos in the morning, within two hours of sunrise.

SOUTH: Take photos in the afternoon, when the sun is no longer directly overhead

NORTH: Watch for the time of day when the sun shines on your house. If your house doesn’t get any direct sunlight, try to snap the photo on a bright day when the sun moves behind a cloud.

A picture is worth a thousand words – and in this case, it may be worth thousands of dollars.

For more info on real estate secrets, please contact Andrea Scott

Setting the right Selling Price

2010-07-23T00:48:00.000-07:00

The key thing to setting a price is determining how much your property is actually worth -- called "appraising" a house's value. Because no two houses are alike, it's impossible to predict with absolute certainty what a buyer will pay for yours. However, the best indicator is recent sales prices -- not list prices -- of comparable properties in your neighborhood.

Real estate agents have access to local sales data and can give you a good estimate of what your house should sell for. Many real estate agents will offer this service free, in hopes that you will list your house with them. But beware that some agents may estimate a high value for your home to try to get your listing. Make sure the agent's estimate is based on comparable sales, and ask to see the comparable listings yourself.

Observing the asking prices of houses still on the market can also provide some guidance. Of course, asking prices don't always reflect what the houses will actually sell for, so you'll need to factor that into your calculations. To find out asking prices, go to open houses, check newspaper real estate classified ads, and look online at sites such as Find Andrea Scott.

Especially in a competitive market, it's important to list your house at the right price from the beginning. If your house is overpriced, some buyers might not even bother to look, thinking your expectations aren't reasonable (as is common among sellers who've recently seen their home values drop) and it's not worth it to even negotiate. And the longer your house sits on the market, the more suspicious potential buyers may become that something is wrong with it.

6 Reasons to reduce your home price

2010-07-22T00:41:00.000-07:00

Home not selling? That could happen for a number of reasons you can’t control, like a unique home layout or having one of the few homes in the neighborhood without a garage. There is one factor you can control: your home price.

These six signs may be telling you it’s time to lower your price.

1. You’re drawing few lookers

You get the most interest in your home right after you put it on the market because buyers want to catch a great new home before anybody else takes it. If your real estate agent reports there have been fewer buyers calling about and asking to tour your home than there have been for other homes in your area, that may be a sign buyers think it’s overpriced and are waiting for the price to fall before viewing it.

2. You’re drawing lots of lookers but have no offers

If you’ve had 30 sets of potential buyers come through your home and not a single one has made an offer, something is off. What are other agents telling your agent about your home? An overly high price may be discouraging buyers from making an offer.

3. Your home’s been on the market longer than similar homes

Ask your real estate agent about the average number of days it takes to sell a home in your market. If the answer is 30 and you’re pushing 45, your price may be affecting buyer interest. When a home sits on the market, buyers can begin to wonder if there’s something wrong with it, which can delay a sale even further. At least consider lowering your asking price.

4. You have a deadline

If you’ve got to sell soon because of a job transfer or you’ve already purchased another home, it may be necessary to generate buyer interest by dropping your price so your home is a little lower priced than comparable homes in your area. Remember: It’s not how much money you need that determines the sale price of your home, it’s how much money a buyer is willing to spend.

5. You can’t make upgrades

Maybe you’re plum out of cash and don’t have the funds to put fresh paint on the walls, clean the carpets, and add curb appeal. But the feedback your agent is reporting from buyers is that your home isn’t as well-appointed as similarly priced homes. When your home has been on the market longer than comparable homes in better condition, it’s time to accept that buyers expect to pay less for a home that doesn’t show as well as others.

6. The competition has changed

If weeks go by with no offers, continue to check out the competition. What have comparable homes sold for and what’s still on the market? What new listings have been added since you listed your home for sale? If comparable home sales or new listings show your price is too steep, consider a price reduction.

For more info on real estate please visit Andrea Scott

Short Sale Success

2010-07-21T00:30:00.000-07:00

It's all too common today: Homeowners need to sell their home for less than what they owe on their mortgage. The process may be different from the typical transaction, but there are rewards for both buyers and sellers. Buyers can end up with a great deal, and sellers can extricate themselves from a mortgage they can no longer afford.

A short sale would be your best option if:

Your property is worth less than the total mortgage you owe on it.
You have a financial hardship, such as a job loss or major medical bills.
You've contacted your lender, which is willing to entertain a short sale.

For further details about real estate please visit Andrea Scott

Home Buying Secret - Stalk the neighborhood!

2010-07-20T05:45:00.000-07:00

Before you buy, get the lay of the land – drop by morning noon and night. Many homebuyers have become completely distraught because they thought they found the perfect home, only to find out the neighborhood wasn’t for them. Drive by the house at all hours of the day to see what’s happening in the neighborhood. Do your regular commute from the house to make sure it is something you can deal with on a daily basis. Find out how far it is to the nearest grocery store and other services. Even if you don’t have kids, research the schools because it affects the value of your home in a very big way. If you buy a house in a good school district versus bad school district even in the same town, the value can be affected as much as 20 percent.

To get more info on Real estate please contact Andrea Scott

Home Buying Secret - You are buying a house- Not dating it!

2010-07-19T05:38:00.000-07:00

Buying a house based on emotions is just going to break your heart. If you fall in love with something, you might end up making some pretty bad financial decisions. There’s a big difference between your emotions and your instincts. Going with your instincts means that you recognize that you’re getting a great house for a good value. Going with your emotions is being obsessed with the paint color or the backyard. It’s an investment, so stay calm and be wise.

To get more info on Real Estate please contact Andrea Scott

Home Buying Secret - Don't try to time the market

2010-07-18T05:27:00.000-07:00

Don’t obsess with trying to time the market and figure out when is the best time to buy. Trying to anticipate the housing market is impossible. The best time to buy is when you find your perfect house and you can afford it. Real estate is cyclical, it goes up and it goes down and it goes back up again. So, if you try to wait for the perfect time, you’re probably going to miss out.

To get more info on real estate please contact Andrea Scott

Home Buying Secret - Bigger isn't always Better!!

2010-07-17T05:34:00.000-07:00

Everyone’s drawn to the biggest, most beautiful house on the block. But bigger is usually not better when it comes to houses. There’s an old adage in real estate that says don’t buy the biggest, best house on the block. The largest house only appeals to a very small audience and you never want to limit potential buyers when you go to re-sell. Your home is only going to go up in value as much as the other houses around you. If you pay $500,000 for a home and your neighbors pay $250,000 to $300,000, your appreciation is going to be limited.

To get more info on Real Estate please contact Andrea Scott

Home Buying Secret - Avoid a border dispute

2010-07-16T05:22:00.000-07:00

It’s absolutely essential to get a survey done on your property so you know exactly what you’re buying. Knowing precisely where your property lines are may save you from a potential dispute with your neighbors. Also, your property tax is likely based on how much property you have, so it is best to have an accurate map drawn up.

To get more info on real estate please contact Andrea Scott

Home Buying Secret - Secret Science of Bidding

2010-07-15T05:51:00.000-07:00

Your opening bid should be based on two things: what you can afford (because you don’t want to outbid yourself), and what you really believe the property is worth. Make your opening bid something that’s fair and reasonable and isn’t going to totally offend the seller. A lot of people think they should go lower the first time they make a bid. It all depends on what the market is doing at the time. You need to look at what other homes have gone for in that neighborhood and you want to get an average price per square foot. Sizing up a house on a price-per-square-foot basis is a great equalizer. Also, see if the neighbors have plans to put up a new addition or a basketball court or tennis court, something that might detract from the property’s value down the road.

Today, so many sellers are behind in their property taxes and if you have that valuable information it gives you a great card to negotiate a good deal. To find out, go to the county clerk’s office.

Sellers respect a bid that is an oddball number and are more likely to take it more seriously. A nice round number sounds like every other bid out there. When you get more specific the sellers will think you've given the offer careful thought.

To get more info on Real estate please contact Andrea Scott

Home Buying Secret - Making Low Offers Works

2010-07-15T05:13:00.000-07:00

Real estate agents will tell you that you'll offend a seller with a low offer. It's true. More importantly, low offers are embarrassing for them to present to a seller, and embarrassing for you to write. But then, I have a friend who recently embarrassed himself into a lakefront home for about $50,000 less than it is worth. Would you like to buy a home AND immediately increase your net worth by $50,000?

Low offers work, but how often? Rarely. Accept that if you want a bargain, you will lose a lot of potential homes, spend a lot of time making offers, and annoy real estate agents. Of course, unless you are under time constraints or nurturing the fantasy that there is one "perfect" house for you, this isn't so bad.

However, if none of your offers are even countered, you may really be wasting your time and trying to go too low. The home buying secret here is : low, but not too low.

To get more info on real estate please contact Andrea Scott

Make the phone ring!!

2010-07-14T03:35:00.000-07:00

Effective marketing is more than sticking a sign in the yard. Successful sellers utilize dozens of marketing techniques to draw the largest pool of buyers. When buyers show up on your doorstep, here are tips on how to create a magical experience and encourage the buyer to make a purchase offer. Good marketing might not sell your house, but it will make the phone ring. Because if buyers don't call, you won't sell.

Photograph the Front

Most home buyers begin a home search online, so good photos are essential. Listings without a photo or with only an exterior shot are often passed over and ignored. Buyers are visual. Follow these tips and your house photo will look ten times better than the competition's:

• Crop out sidewalks and streets.

• Remove vehicles from driveway / front of home.

• Shoot up-close & angled photos.

• Avoid shade on the house.

Exterior Photographs

If you own a condo or townhome without a yard, then take pictures of the clubhouse, pool, spa or tennis courts. If you have a yard, however, buyers will want to see it.

• Emphasize space and shoot long.

• Mow the lawn & trim bushes.

• Remove evidence of pets.

• Put away children's toys.

Interior Photographs

Take photographs of every room. Even if you suspect the room won't photograph well, shoot it anyway because the photo quality just might astonish you and be useable.

• Open drapes & blinds

• Turn on lights.

• Focus on interesting details like the condition of a wood floor or a fireplace mantle.

• Remove trash cans & close toilet lids in bathrooms.

• Use floral arrangements in kitchens & dining rooms.

Print Advertising

Print advertising reaches buyers who read newspapers. Online ads reach the rest. If your neighbors say, "Everywhere I look, I see your home advertised," you're doing a good job. Puts ads in:

• Major newspapers. Find out which days pull the most readers. Typically it's Sunday but some newspapers also publish "picture classifieds" on other days.

• Local newspapers. You can probably run a larger ad for less money that will more closely target those looking in your area.

• Real estate publications. Check on press date; can you wait?

• Every Web site you can find. Most online listings are free.

Direct Mail

If you're an unrepresented seller, you can buy mailing lists from list brokers. If you are represented by an agent, ask about a direct mail program. I prefer oversized four-color postcards because they are inexpensive to mail and eye-catching. Here are three places to mail:

• Neighbors. Everybody has friends and relatives who might want to move near them.

• Agents who represent buyers in your neighborhood.

• Buyers who live in other areas and often relocate to your neighborhood.

Open Houses

Not every home is suitable for an open house due to location or other factors, and sometimes the only way to determine that is to try it. If nobody comes, that's probably a good indication. However, if your home is located near a high traffic area where buyers often swarm, then it's a good candidate.

• Place open house signs throughout the area directing buyers.

• Advertise in the newspaper.

• Advertise open house times online.

• Invite the neighbors; they're going to come anyway.

Host Broker / Agent Tours

If you're planning to sell your home without representation, then skip this step. However, since most buyers are represented by an agent, it's a good idea to draw as many agents and brokers as possible to view your home.

• Agents who linger in your home will better remember details to later describe to buyers.

• The best way to entice an agent to hang around is food. Doesn't need to be expensive, sandwiches will suffice.

• As agents munch and network, the hope is they will admire your home and bring back a buyer.

To get more information on real estate please contact Andrea Scott

How a first time home buyer can rate inventory??

2010-07-13T03:14:00.000-07:00

Studies show that your memory dramatically improves after consumption of carbs and slows upon consuming sugar. So, lay off the soft drinks and have a hearty meal of carbs before venturing out to tour homes. here are few tips that can help you remember specific details of the houses you tour:

Bring a digital camera and begin each series of photos with a close-up of the house number to identify where each group of home photos start and end.
Take copious notes of unusual features, colors and design elements.
Pay attention to the home's surroundings. What is next door?
Do you like the location? Is it near a park or a power plant?
Immediately after leaving, rate each home on a scale of 1 to 10, with 10 being the highest.
View Top Choices a Second Time before Buying That First Home..

If you have any question about buying a property, please contact Andrea Scott

Top 10 tricks to sell your home

2010-07-12T05:11:00.000-07:00

1. Make room. Clear out as much furniture as you can. Hallways and doorways, in particular, need to be clear and open.

2. Follow your nose. A home should smell good. That means no noticeable odor -- no pet scent, no stale cooking smells and no cigarette smoke. Scrub the house, have the air vents cleaned, replace old, smelly carpeting and smoke outside.

3. Remember, the next buyer is as lazy as you are. If the property needs work -- dated wallpaper, ratty carpet -- have it replaced now so that all buyers have to picture is moving day. The more changes buyers calculate they'll have to make in the home, the more concerned they get.

4. Deep-six the cigarettes. Having a smoker in the house eliminates a lot of potential buyers. Many shoppers won't even want to tour a home if the owner is a smoker.

5. Make your home ageless. There's a difference between an old house and a classic home. If the house looks 40 years old with 40-year-old paint, 40-year-old appliances and 40-year-old carpet, that's a hard sell. Keep everything fresh and up-to-date.

6. Let there be light. People buy space and light, for the most part. Open the blinds and turn on all the lights. Add lights in rooms that are dark.

7. Learn to love white walls. Paint is a relatively economical way to make a house look sparkling and fresh. And if you're going to repaint prior to selling, stick with neutrals. Remember that white reflects the light best and makes rooms look their largest.

8. Take a close look at the carpet. Get the carpet shampooed to get out any stains or smells. If that doesn't work, replace it.

9. Clean your closets. Sellers need to empty the closets of half the things they have in them. Partially empty closets look roomy -- and space sells. Do the same thing with kitchen cabinets.

10. Set your house apart. A real estate study was conducted in which potential buyers were shown many different houses in similar neighborhoods, all with similar features and amenities. The one that stood out? A home that had yellow roses on the dining room table. People not only remembered the detail, but they rated the home higher as a result.

You need to give the home a hook, something that makes it different in a positive way from the other houses.

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