Lee Morof's Real Estate Blog

Whether you’re ready to put your home on the market or you’re preparing yourself for the ins and outs of the process, you’ve probably heard about open houses. While open houses can offer an easy, instant way for many interested parties to view your house, there can also be downsides to this type of showing. If you’re considering whether or not to stage an open house, here are some insights into what it may mean.

Potential Buyers Or Open House Aficionados?

An open house will mean that many people can see your house at the same time, which can save the time and energy that goes into multiple viewings, but open houses can also attract many people that have no intention to buy. With so many people interested in the interior of a home or the houses in a particular neighborhood, open houses can actually attract more curiosity than actual offers. While an open house can be a great way to create interest, private viewings can be more indicative of how interested the viewer really is.

Living In Your Home Or Merely Showing It

The effort that goes into properly staging a home for public viewing can be quite considerable depending on how long your house is on the market. While an open house will get many viewers in and out on the same day, a bevy of private viewings can mean that a lot more energy will be spent cleaning up your home, which may make you feel like you live in a show home. It’s worth considering how much time you want to spend staging your home before deciding if an open house will work for you.

A Private Home Or A Public Place

You may be leaving your old, familiar home behind soon enough, but that doesn’t mean it’s still not a place of refuge and privacy from the outside world. It’s worth realizing that an open house means many people you don’t know will be walking through your home and viewing your possessions, which can be quite disconcerting for some people. This may be acceptable if the benefits outweigh the risks, but if your home is too special a space you may want to consider another avenue.

Open houses can be an important part of getting your house out on the market, but whether or not this option will work for you is dependent on many factors. If you’re wondering about all of the options for viewings and putting your home on the market, you will want to contact your trusted real estate professional for more insight.

When it comes to real estate, putting your home in its best light is key when it comes to making the sale. While it may seem like you’re more limited with a home of a smaller scale, here are a few ways you can enhance what’s best and make a good impression on potential buyers.

Let There Be Ideal Light

If you’ve ever taken note of a room on a perfectly lit day or a downcast one, the difference in how lighting can impact a space is marked. When staging your small space, you’ll want to check the lighting of each room and make sure it ideally enhances the space it’s illuminating as few things can improve the look of a place like lighting. If you’re prepared to go all out, you may even want to install a swanky chandelier or lengthy light fixture in certain rooms as it can draw the eye up and lengthen the look of your space.

Brighten a Room with an Accent Wall

Homeowners often think that bright colors are a bad idea because they’re flashy and will minimize a space, but using a brilliant color on one wall of a room can actually maximize the look of your room and can serve as something memorable for viewers of your home. While you’ll want to make sure the color you choose isn’t garish and doesn’t completely overwhelm the eye, you’ll want to keep in mind that an accent wall works particularly well for enhancing a pint-sized bathroom.

Stand By a Statement Piece

It might seem like unique or off-the-wall furniture pieces will overtake the room in a small living space, but one statement piece can actually provide potential buyers of your home with a unique look that may instill an interest in your house and highlight it in a unique way. Instead of choosing multiple pieces that are bright or quirky, stick with one or two items per room that will stand out and make themselves known, but will still give off the living-style vibe that you’re going for.

Staging a small home can seem more complicated with less space, but there are great ways that you can highlight it to positive effect. While you may want to consider an accent wall or lighting that will effectively illuminate the room, if you’re interested in more tips for small home staging, you may want to contact a local real estate agent for more information.

When it comes to staging your home to sell, it can sometimes seem like there are so many things to do that it’s hard to know what will make a real difference. Since staging is such an important aspect of successfully selling your home, here are the three golden rules for how you can make it work for you!

Don’t Forego The Front

Homeowners often spend so much time inside of their home that it’s the first thing they think about when it comes to staging, but the first thing a potential buyer is going to notice is the exterior so it’s very important to keep this in mind. Ensure that the grass is cut and any stray plants or weeds are trimmed or pulled. If you’ve left out any old, ugly furniture or the kids toys are strewn about the lawn, you’ll want to clean these up so the house is polished and enticing right from the start.

Make It Match With Your Décor

There are no certainties that the design aesthetic you have is going to appeal to your potential buyers, but they will notice if your home is completely out of touch with its accents. If you’ve got a comfy, family style place, make sure you deck it out in durable but well-maintained duds that will complement the buyer you’re trying to capture. On the other hand, if you’ve got sleek hardwood floors and a stylish accent wall, you should be able to get away with a modern decorative style that can only enhance your home’s natural charms.

Keep A Handle On The Accessories

It’s certainly true that a personal style that gives off the sense that you really live in your home will draw in the offers, but you’ll want to keep some of it at bay so your decorating is not distracting the viewers. Instead of going for big, over-the-top pieces, stick to a style that’s neat and tidy with some quaint accents that will play it up. A few brightly cultured coffee table books or a quirky light fixture can go a long way in adding interest to your living space!

It may seem like a lot is required to properly stage a home, but by using these golden rules you should be well on your way to a successful sale. If you’re currently in the process of selling your home and have questions about entering the real estate market, you may want to contact your local real estate professional for more information.

With the busyness of the holiday season, selling your home during the winter months can often be more difficult than it is in other seasons. If you’re intent on selling before the year is out and you’re looking for some staging pointers, here are a few ways to convince potential buyers that your home will be the perfect place to spend Christmas!

Compliment Your Home’s Colors

If the green, red and gold tones of the holiday season contrast with your home décor, it might be a good idea to bring out some less flashy pieces that will still lend to the joyous season. Instead of huge garlands all over the house or old decorations that have been passed down through the years, go for items that will complement the décor and coloring of your home to maximum effect.

Adorn It With A Wreath

A holiday wreath is often the perfect finishing touch when it comes to home decorating, but since your door will be one of the first things that potential buyers will see, it’s a staging tip you might not want to go without. Since a wreath will make buyers think of the exciting season ahead, it may be much easier for them to picture themselves sipping eggnog around the fire and putting presents under the tree of their potential new home.

Bake A Holiday Batch

There are few things more enticing about the holiday season than its treats, and since it’s proven that scent can go a long way in selling a home, you might want to dive into the holiday baking early. Whether you go with shortbread or gingerbread, this sweet holiday scent will likely enrapture potential buyers and may make them feel like they’re already home.

Keep The Tree Simple

It goes without saying that you’ll want to put out a tree for the holidays, but with all of the personal trimmings that can go into a tree, it’s a good idea to keep it relatively simple. Instead of overdoing it and distracting from the rest of your home, go for an understated tree with a few bulbs and simple decorations. This will showcase your love of the season without obscuring the attention that’s meant for your house.

Selling a home in the winter months can be more difficult than it is in spring or fall, but staging it for the holiday season may have a positive impact on potential buyers. If you’re curious about other staging tips for the holidays and selling in the winter, you may want to contact your trusted real estate professional for more information.

With all of the expense that can go into buying and selling a home, it’s good to be aware of what you can claim and how a home can benefit you come tax time. When the New Year rolls around and you’re sitting down to the task of completing your taxes, here are a few things that you’ll want to keep in mind.

Gaining from Capital Gains

In the event that you’ve made money off the sale of your home through a capital gain, it’s possible that you may be able to exclude this amount from your tax filing. If you’ve lived in the home you just sold for at least two of the five years before the sale date, not having to report this amount on your taxes may come as a financial win.

Reporting Your Gain

If you have not lived in your home for two of the five years, you will have to report the sale of your home and the capital gain when you file your taxes. This is necessary whether or not you decide to claim the amount. If this happens to be the case for you, it’s a good idea to educate yourself on ‘Net Investment Income Tax’ before filing your return so you can ensure your claim’s accuracy.

A Two-Year Claim For Capital Gain

While there is definitely a great financial benefit in not having to report your gain in all situations, it’s important to be aware that you can only exclude any gain you’ve received from a home sale every 2 years. So, if it happens to be the case that you’ve moved more than once in the last few years, you will have to report any amount that you’ve made from these home sales.

Selling Your Home At A Loss

The boon of a capital gain is certainly ideal if you’ve made some money on your home, but if you’ve sold your home for less than you paid, you won’t be able to claim this. While the end result may be a bit disheartening, this amount cannot be deducted off of your tax return.

Beyond the benefits of buying or selling your home, there are ways that your tax filing can be more pleasant next year if you know some of these tips. If you think you may be perusing the real estate market in the near future, you may want to contact your trusted real estate professional for more information.

When the market is hot some sellers are lucky enough to be in a situation where they see multiple offers come through on their property. Now the only decision left is which one to choose.

It may be easy to look at the amounts offered and go with the highest one, but that is not always the wisest choice. There are several smaller factors that could mean the difference between a winning and losing bid.

Have Any Of The Buyers Been Pre-Approved For A Mortgage?

While an offer that comes in above the asking price can be very tempting, there is a risk that the entire sale can fall through if the buyer is not approved for a mortgage that large.

An easy way for a buyer to set themselves apart from the rest is to make sure they are pre-approved for a mortgage large enough to cover their asking price. This not only decreases the chances of the sale falling through at the last minute, but also shows which buyer is truly serious about purchasing the house.

Take A Close Look At The Terms

The amount being offered on a home should not be the deciding factor in a bidding war, especially if the offers are all so close. Taking a hard look at the terms in the contract will provide a better idea of which buyer should be taken seriously.

Which buyer has put up the most earnest money? A buyer who has deposited a low amount of earnest money may be more willing to walk away from the sale at the last minute, causing a severe headache. Are any of the buyers asking for appliances or fixtures to be included in the sale? These are the small things that can make the choice between offers that much easier.

Negotiate To Have Contingencies Waived

Many buyers will put a list of contingencies into the contract to give themselves an out on buying the home. These include waiting until their own home is sold, having the place inspected by a contractor or attorney reviews of the paperwork.

If only one buyer is willing to waive these contingencies that could be the person whose offer should be taken seriously. Other small factors to look at include closing dates that match up or offers that are made in cash.

A real estate professional in your area can help get multiple buyers interested in your home and assist with going through the offers to find the right one. Don’t try to do this alone, find a professional today.

Despite all of the excitement that comes along with moving to a new area or home, it can also be a time of considerable stress. Whether you’re just getting prepared to put your house on the market or you’ve been up to bat for a while and are feeling the effects, here are some pointers for how you can keep your stress level low and your attitude positive.

Queue the Clean-Up!

It may seem like an inopportune time for such a task, but de-cluttering your home can have a positive impact on your mental health. Instead of saving all the cleanup to the last moment when you’re trying to get your family out under a deadline, do a bit of a spring-clean. By looking through the items in your bedrooms, bathrooms and kitchen – and getting your family involved – you can make the packing up that will come down the road a much more straightforward task.

Maintain an Optimistic Outlook!

This might sound a little obvious, but maintaining a positive attitude towards the sale of your home is one of the key factors in minimizing your stress level. It can be quite easy when you’re putting your house on the market to get ahead of yourself and hope that each viewer is a potential buyer, but your house probably won’t sell with the first viewing. By maintaining a positive attitude, you can enjoy the last memories you and your family will be making in your home, and think ahead for what you’ll have to do when selling time comes.

Move It All Out!

It’s not likely that everyone will be able to take advantage of this option, but if you have good friends or close family in the area, you may want to consider moving in with them while your house is for sale so you can be ahead of the game when crunch time comes. While this option may lead to other types of stress, it can severely minimize all of the things you’ll have to do when you sell your home since you’ll only have to worry about moving in.

There are no certainties when it comes to selling your house stress free, but there are things you can do to minimize the impact it will have on your well-being. If you’re wondering about additional ways to keep your stress level low throughout the selling of your home, you may want to contact your trusted real estate professional for more advice.

The idea of impressing potential buyers can be a matter rife with stress, but there are a few things you can do before a viewing to ensure your home is seen in the best light. If you’ve recently put your house on the market and you’re looking for some fast and easy fix-ups, here are a handful of ways you can be sure to create a positive first impression.

It’s All About the Smell

It may seem like purchasing a home is all about appearance, but you shouldn’t underestimate the power of scent when it comes to the overall impact of your home viewing. Instead of leaving this invisible factor up to chance, consider giving the house a quick light spray with a pleasant scent or even baking something that will be sure to remind potential buyers of the familiar comforts of home. Make sure you dont over do it though, having too much sent may make potential buyers uncomfortable or even sick.

Take Away the Family Portraits

While it won’t be necessary to clear away everything of personal value, a large number of photographs in the home can actually remind potential homebuyers that it’s not their home and may make them feel like they’re a visitor in a place they want to live. By removing the photos that adorn the fridge and the side tables, you can eliminate distractions for potential homebuyers and keep them focused on what the home might come to mean for them.

Clear Away Any Clutter

This might seem like the most common sense of points, but it’s very important that your house is clean so that viewers can see your home in its best light and will easily be able to imagine themselves living in it. While it’s important for giving your house the best possible presentation, it will also make your house look more spacious than it would with a lot of unkempt clutter.

Highlight Your Favorite Features

With potential homebuyers viewing a lot of different houses, having a few key features in your home that will help it stand out from the pack can be a definite benefit. Whether you have a fabulous Jacuzzi in the master bathroom or unique kitchen tiles that you installed yourself, ensuring that these features are noticed, and even accentuated, may help your home stick in the mind of its viewers.

Showing your home can be a stressful matter, but a few quick tips can ensure success with potential buyers. If you’re curious about other ways to impress viewers of your home, you may want to contact your trusted real estate professional for some valuable insights.

The real estate market is in a state of constant flux, and if your home has been for sale a little while you may feel vulnerable if you’ve recently rejected an offer. If you’re starting to change your tune on what you want and you’re wondering how you can re-make a deal, here are a few pointers for how to approach a new negotiation.

Did You Do a Follow-Up Call?

One of the rules for selling your home is to follow-up with all potential buyers as a matter of courtesy, whether you’ve accepted their offer on your home or not. If you’ve done this with a potential buyer you want to re-negotiate with, then you’re in a good position to contact them. Whether you choose to do this directly with the buyer or through your real estate agent, make sure that you know exactly what you want to say so the second time around can be more promising for both parties.

Re-Consider the Buyer’s Point of View

If you’re contemplating a former offer, looking at the way the buyer sees things may help you come to more of a consensus in terms of price. While you’ve paid for your property, and you’re aware of all that you’ve invested into it, a buyer may be looking simply at the going price of other properties in the area. By re-considering the market value in your area and being clear on the buyer’s concerns regarding your price-point, it’s possible you may be able to meet somewhere closer to the middle when it comes to a renegotiated price.

Be Prepared to Change Your Tune

You likely won’t be able to successfully negotiate anything with your potential buyer unless you and your family re-consider your asking price. While re-negotiating an offer that seems unfair certainly isn’t something worth stressing over, you’ll want to think about what the additional money you might be making is worth and if the difference is going to make up for potentially having your house on the market for a few more weeks or months. If it’s worth it to you to re-negotiate, you may just have home sale on your hands in short order

Selling a home can be a matter of significant stress, and missing out on an offer can add even more difficulty to the proverbial pile. Whether you’re wondering how you can renegotiate an old offer or successfully sell your home, you may want to contact your local real estate agent for more information.

Selling a house in a slow market is like playing the world’s worst waiting game. But for sellers who want to make a deal quickly, there are ways to boost your offers and close a bid in short order – even if the market isn’t that hot. If you’re struggling to sell your home, try these four strategies to boost buyer interest and start bringing in offers.

Choose An Agent With Strong Marketing Skills

In a slow market, your choice of real estate agent may make or break the sale. When there simply aren’t that many people looking for homes, you’ll need to make a strong case for why your home is the ideal choice. And that means you need a great marketing campaign.

Look for an agent that has a marketing presence and appears to keep their ear to the ground when it comes to the realestate world.

The right agent can implement a great marketing strategy to line up buyers all the way down the street.

Invest In Great Staging And Curb Appeal

In a slow market, you need to offer as much value as you can – and that means making your home look amazing. A fresh coat of paint can do wonders for your décor, while a professional staging can make your home more appealing to potential buyers. You can quickly boost your curb appeal by painting your door, installing some outdoor light fixtures, or adding pieces of outdoor art like birdbaths and sculptures.

Price Your Home Around The Median

Of course you want to get the highest price you can for your home, but keep in mind that in a slow market, there’s a limit to how much you can reasonably ask for. Overpriced houses tend to sit on the market for quite a while, so talk with your real estate agent to see whether your home is overpriced. Ideally, your home should be around the median figure of what’s considered fair market value.

No Immediate Interest? Cut The Price Sooner Rather Than Later

Even if you’ve done everything right, you may not see immediate interest in your home – and if that’s the case, you’ll want to address the problem sooner rather than later. The longer a house sits on the market, the less likely it is to sell, as people may start to think there’s something wrong with the house. If you’re starting to come up on the average sale time without any offers, talk to your agent about cutting the price.

Selling your home in a slow market isn’t easy, but it is possible. With the right strategy, you can bring in the offers and find a buyer. Contact your local trusted real estate agent to learn more about selling your home.