First time home sellers have a big disadvantage when selling their property: Inexperience. When you sell your home, it’s important to educate yourself about the basics of the process and to learn about some of the potential problems you may encounter.
Some first time home sellers seem to believe that, as long as they’re in a good location, all they need to do to sell their property is put up a for sale sign. Although a good neighborhood is an excellent selling point, it’s not the only thing you need to guarantee a successful sale.
Here are some of the worst mistakes first time home sellers make when selling their properties.
1. Home Sellers Showing a Dirty Home
No buyer wants to purchase a home that looks like World War 3 just happened in the living room.
Making your home “buyer-friendly” before bringing in potential buyers will not only increase your chances of a successful sale, it can actually increase your market value.
A clean home allows your future homeowners to step into your home and immediately feel like they’ve found the home of their dreams. Before showing your home, put in a little elbow grease and make it look brand new.
2. Too Many Presale Improvements
Some home sellers tend to make too many improvements but it can be just as bad as not fixing anything problems in the home.
Over capitalizing on your home with costly improvements that may not be suited for your buyers is a bad move.
For instance, if you spent $20,000-$30,000 on a swimming pool, you may find that many buyers in your area don’t want a pool. So you have either wasted the money trying to please people who won’t factor the pool into the value or you may scare away buyers who don’t want a pool.
Consult your real estate agent before doing any major upgrades in your home. They can help you to determine which upgrades will increase the value of your presale home and which improvements to steer clear of.
3. Working with More than One Agent
Open listing your home with several agents can actually lower the price of your home. You would essentially be forcing the agents to compete with each other, making the sale more important than the price.
The best option is to hire a team of real estate professionals that you trust and work with them. This will give you the best chance to not only sell quickly, but also to get the most money for your home.
4. Revealing the Reason Why You’re Selling
As a home seller, you have a right to keep your reason for selling your home private.
If you are in a financial crisis and your buyers find out, it could weaken your position at the negotiation table.
The best answer for you and your agent to give when asked why you’re selling is simply “relocating.”
5. Scaring Your Buyers Away
Some first time home sellers let their excitement get the better of them. They stalk or hound their buyers throughout the house and practically scare them away.
As much as possible, don’t interfere with your open house. Your buyers may want to have some privacy with their agents and their partners. Try to be invisible unless they directly ask you something about your home.
6. Emotional Weight
First time home sellers sometimes make the mistake of letting their memories and emotions impact how they evaluate their home’s value. Your buyers will not have the same nostalgic feelings toward the home, so don’t let your fond memories drive the price up. Letting go emotionally and evaluating your property like a potential buyer is the key to accepting the true value of a property.
7. Refusing to be Flexible
Home sellers should understand that the selling process doesn’t always run smoothly as they hope it would. Being flexible during the selling process is key. Being flexible means being able to show your home at odd times of the day and being willing to examine offers that may be a little short of what you’re hoping for, rather than rejecting them right away. Use your power as a home seller to re-negotiate on offers and still come out a winner.
If you’re considering selling your home and want the help of a professional team of real estate experts, we urge you to reach out to us. We can help you prepare your home for a successful sale. Contact us today!
After making the big decision to sell your home, your next big question will likely be “What is my home value”?
Many sellers don’t realize that the biggest factors affecting your home’s value are actually out of your control.
Sure, you can always upgrade your countertops, throw some new paint on the walls, or change up your flooring to increase your home’s value. But most of the factors determining what your home is worth have less to do with what’s inside the house as much as where your house is.
Common Indirect Factors that Determine Your Home Value
Fire, flood, tornadoes, earthquakes and similar catastrophic natural disasters can temporarily affect your home value. If the location of your home has a recurring problem with these types of natural disasters, the value of your home will be permanently low.
A flourishing economy can bring real estate prices up. A bad economy, however, can pull prices down.
Whether or not the perception is true, it has an impact on the prices of homes in a neighborhood. If the neighborhood looks nice, safe and clean, prices tend to be higher. If a neighborhood looks a bit grungy or neglected, home prices will reflect that.
Demographic trends can have a major impact on home values. For instance, more and more of the baby boomer generation is entering retirement. This affects where they want to live, how much they can afford and what they are leaving behind.
Anytime a large group, like the baby boomers, shifts their buying and selling decisions, you will see some major ripples in those markets.
Are the schools in the area thriving or struggling? This will largely determine the appeal of an area to families. Thriving schools attract more families. The more that people want in that school and in that neighborhood, the higher the prices will go.
Home buyers, especially those who are still raising kids, will always want to live in a place where they are just minutes away from everything. If your home has easy access to restaurants, shopping, parks and entertainment, the value of your property will be higher.
Accessibility to transportation is always a plus. Proximity to a freeway or public transport adds value to your property.
Though a good looking lawn or a fresh coat of paint can improve the value of your home, they aren’t the only things that can dictate how much it is worth. To get an idea of what your home is worth in today’s market, click on this link for a free home value estimate.
For help figuring out your home value in light of current market conditions, please reach out to us! We’ll be more than happy to consult you on this. Contact us today.
Summerlin’s master-planned community is blooming with eco-friendly homes. Its commitment to a superb lifestyle is even more pleasing with these environmentally friendly designed homes.
Eco-Friendly Homes: The Summerlin Difference
Villa Trieste is nestled along the 215 Beltway of Summerlin Center Village. Presently, it is the only LEED (Leadership in Energy and Environmental Design) certified neighborhood. It boasts of four lovely home designs with built-in solar panels and tankless water heaters.
The eco-friendly homes, built by Pulte Homes, are 100% certified by ENERGY STAR. This means that their homes consume less electricity compared to other homes, whether newly built or used. These eco-friendly homes begin at $200,000 with the square footage ranging from 1,487 to 1,960 square feet. The standard plan for these eco-friendly homes include 2-4 bedrooms and 2 baths.
One perk of living in these eco-friendly homes in Summerlin is the many amenities just within your reach. Residents of this green neighborhood are just a few minutes away from parks, retail shopping, great restaurants, office parks, schools, fitness facilities, and the exciting Red Rock Casino.
Summerlin is also considered a cyclist’s paradise, being close to Red Rock Canyon National Conservation Area. This perfectly compliments Summerlin’s active lifestyle.
Are you interested in finding out more about the eco-friendly homes of Summerlin? Our team of real estate professionals are experts in the Summerlin area. If you have any questions about these eco-friendly Summerlin homes, reach out to us. We’ll be happy to have an educated conversation with you and answer all your queries. Contact us today!
Updating the windows in your home can be a big investment. However, it can be a great way to improve your energy efficiency, especially as cold weather approaches. Here are a few things to consider as you weigh updating the windows in your home.
Inexpensive ways for Updating the Windows in Your Home
If your home is older and you have wooden windows, you probably spend a lot of time and money keeping them up. Wood can rot and also needs to be painted on a regular basis. If you haven’t been able to keep up with the maintenance requirements of wood windows, the exterior of your home may look rather shabby. Cheap windows installed in some newer homes can also start looking worn in a short time, as well.
In either case, updating the windows in your home can give the exterior a fresher and more attractive look. Often older or low quality windows are not very energy efficient. If you are losing heat or cool air through gaps in the window frames, new windows can really help. Modern windows have better insulation to keep out the weather and better regulate the temperature of your home. They’re also better able to keep out noise.
Another important consideration when updating the windows in your home is security. Old windows are often hard to lock and easy to break. Newer windows have better security latches that are likely more durable and harder to break. However, regardless of security, strength and functionality, the look of the window may be your biggest concern, so make sure you choose one you like!
If you think your windows are beyond your fixing capabilities and you need an expert to get it done, reach out to us. We have an affiliate vendor who does an excellent job with any type of window you have in your home. Contact us today!
In early August, the CoreLogic home report reasserts to the public that Nevada is leading the way when it comes to increasing home prices. Here are the top states leading in annual gains:
Mark Fleming, Chief Economist from CoreLogic, said, “Trend in home price gains is moving at the fastest pace since 1977.”
Summary of the CoreLogic Home Report
Many Nevadans will agree that the real estate market is on a slow but steady recovery. The recovery of the real estate market is also accompanied by a steady rise in job gains in Nevada and many other states as well.
Here’s what the CoreLogic Home Report says about home prices:
Prices rose by 11.9% in June.
Prices have gone up in 48 states, year-over-year.
Home prices have been going up for 16 months straight
Nationwide, there has been a 10 percent increase in home prices during the first half of the year
Encouraging News About Home Prices
Nevada’s low mortgage rates encourage more individuals and families to buy their homes now. Even if prices are being driven by tight supply, today’s home prices are still 19% below where they should be.
According to the CoreLogic home report, homeowners are still waiting for prices to get higher before putting their properties up on the market. Though they’re hoping to regain their losses, all they’re really doing is adding more stress to the already tight inventory.
Another major factor that’s driving the prices up is the small proportion of foreclosed homes on overall sales. Completed foreclosures are expected to hit half a million, which is a quarter less than last year’s numbers. With fewer completed foreclosures, less properties are being sold.
For more information on the CoreLogic report and how it can apply to you, give us a call. We have a team of real estate specialists who are will be more than happy to discuss this with you and answer any question that you may have on today’s topic. Contact us today!
Nevada’s Home Again is a one-stop resource program for homeowners who are knee-deep in debt on their homes. This new program checks what kind of federal assistance is available to these worried homeowners.
What is the Home Again Program?
Through the collaboration of the AG Office (Attorney General’s Office), FGC (Financial Guidance Center), NLS (Nevada Legal Services), and the LACSN (Legal Aid Center of Southern Nevada), the Home Again Program was created.
The main purpose of the Home Again program is to help Nevadan homeowners who are:
looking for loan modification.
looking for credit restoration.
working to own their home.
How to Get in the Program
There are no fees for being involved in the Home Again Program. Any interested homeowner just needs to pick up a phone and call its hotline at 1-855-HLP-4-NEV. Next, the homeowner will be scheduled for a counseling session to check what programs are available to help.
Participating homeowners will receive:
assistance when obtaining either state or federal housing programs.
assistance with legal services.
assistance when submitting a consumer complaint to the Office of the Nevada Attorney General, should the homeowner be a victim of housing fraud.
How the Home Again Program is Viewed by City Officials
Several city officials have spoken about the Home Again program. Here is what they’ve had to say:
Las Vegas Mayor Carolyn Goodman – “The housing crisis has affected us all. This Home Again partnership is a demonstration of how government entities can effectively streamline resources and work together to benefit residents and potential homebuyers throughout the state. The City of Las Vegas is proud to provide this grant funding to Home Again as a sign of collaboration and support for what this program is doing for Las Vegans and Nevadans.” She further added, “Credit restoration, loan modification and new home buyer services that Home Again provides, are linking callers directly to resources for help in avoiding foreclosure, achieving the dream of homeownership and building stronger neighborhoods for our families in Las Vegas. The city is proud to be a part of this effort.”
Councilman Steve Ross – “Ward 6 is a microcosm of southern Nevada. I have met with the families and have witnessed their challenges during these tough times. The city has been at the forefront of helping our community recover from the housing crisis, and Home Again is the resource our constituents need to learn about their options and begin putting their lives back together. Las Vegas has been hit hard for too long, I am excited to join this team effort to help the residents of Las Vegas fight back.”
Catherine Cortez Masto, Nevada Attorney General – “We know that there is a need and an unfulfilled demand across this state for stable, healthy communities. Smart community development efforts require government, community groups and business to combine their resources to ensure that the help Nevadans need is available to them. In partnering with the city of Las Vegas, and accepting this generous contribution, we are taking the first step to build the Home Again Coalition, and moving forward to continue our work of reaching out to those in need of help and building a stronger Nevada. I would like to thank Mayor Goodman, the City Council and HUD (Housing and Urban Development) for this generous and important contribution.”
Attorney General Warns Public of Mortgage and Foreclosure Scams
Due of economic hardship, many homeowners have become prey to scammers. If you feel that someone is trying conduct mortgage fraud, then call the Attorney General’s Hotline 702-486-3132 and you will be given instructions on how to file a complaint.
If you have any questions or would like more information about the Home Again Program, please contact us! Our seasoned real estate professionals will be more than happy to answer your questions. Contact us today!
Australian entrepreneur Josh Kearney has proposed a plan to open a 40-acre sports park, called Vegas Extreme, right off the Las Vegas Strip. The amusement park will offer extreme sports such as motorcross, surfing, and more.
If this plan pushes through, visitors will be able to wakeboard or even snowboard before heading to the casinos. It sounds radical but this is the goal of 34-year-old Kearney. It will be an electrifying mix that will be a first on the Strip.
Unique Features of Vegas Extreme
Kearney envisions the Vegas Extreme amusement park to have surfing, a motocross, wakeboarding, whitewater rafting, jet skiing, off-road biking tracks, go-karts, a lake, and a white sand beach lined with cabanas.
During the winter, the lake will be drained and replaced with snow. This will transform into a great ski bowl for those who are into snowboarding.
Kearney said in an interview “Vegas Extreme will stand as a new model for amusement parks around the world. Its focus is on an exploding generation of sporting events and recreation that push the boundaries of human movement.”
But before all his plans can materialize, he is yet to find a location for his 40-acre park. He said he already has 3 prospective locations. So far, that’s where this plan is right now. It’s all artist’s renderings for the meantime.
Who will be the Target Clients?
Kearney believes that the clientele of the Strip is evolving. It’s not just an adults’ playground anymore: More and more families are coming every year. Families are relocating to Las Vegas because it has a lot to offer.
Target clients will be ages 13 and above. The rides are not like the usual carousels at amusements parks. The rides in Vegas Extreme will need time to be mastered.
Are you excited about Vegas Extreme? Where do you think this ambitious amusement park should go? What extreme sports would you like to add to see? Feel free to share your thoughts with us on the comments field below. We’d love hearing from you.
After the economy declined and the housing market crashed in 2007, the housing market is finally hearing some great news. Rebound Reports and Homes.com report that as of July 2013, 22 out of the Top 100 markets (U.S. housing markets) show more than a 100% recovery, while “44 markets have posted a recovery of more than 50%.” These economies are showing continual growth.
Here’s a summary of what the reports say about these top 100 markets:
22 markets are on their way to economic recovery.
44 markets have recovered more than 50%.
7 of the top 10 markets have reached a 200% rebound.
Honolulu had the biggest annual increase with a 29.17 index value.
San Antonio-New Braunfels had the biggest rebound with 148.57 index value.
8 of the top 10 markets with the biggest increase of index points are in California.
So far there hasn’t been any decrease in market activity. However, the reports did note that the rapidly increasing home prices in coastal cities like San Diego, Los Angeles, and San Francisco are making it median priced homes more difficult to find and buy. As a result, more and more people are moving inland to find more affordable homes. Real estate experts are anticipating a shift in activity from the coastal cities to inland communities.
If you would like to talk more about the information in these reports and how it can affect you as a buyer, seller or investor, contact us. We’ll be more than happy to answer your questions. Contact us today!
In early August, Inspirada Builders announced the construction of its 30-acre community park in Henderson, situated in the housing project south of St. Rose Parkway. The construction of these two parks is set to begin by the end of this year and is estimated to cost around $20 Million.
The Agreement Between Inspirada and the City of Henderson
The agreement on this new development says that Inspirada Builders will be responsible for building the parks and will then donate them to Henderson. The city of Henderson will then be responsible for operating and maintaining the parks.
Amenities of the Park in Henderson
The groundbreaking ceremony for the first park is scheduled to happen this fall. The park is expected to be finished by summer of 2014. It will include a one-acre dog park, basketball courts, tennis courts, multi-use fields, and several play areas.
Construction on the second park is set to start by the end of this year. This project is expected to include basketball courts, picnic areas, a skate plaza, and of course a children’s playground.
Inspirada Builders released a statement saying that this project “represents a significant milestone for the community.” It may further lead to more improvement projects for this neighborhood.
Meshing Old Plans with New Plans
The proposed 2-park project includes multiple trails connecting the parks to other existing trails. The addition of these exciting new parks is not expected to interfere with any of the 8,500 housing units surrounding the new parks.
If you’re a Henderson resident or live near the area, what’s the next improvement project that you’d like to see in your thriving community? Share your thoughts with us in the comments field below. We always appreciate hearing from our readers.
It is never too early to organize your home for holiday gatherings. Be sure to think about how many guests you will be having well in advance so you can prepare enough seating and clean and organize the rooms that need attention. Keep in mind that kids really do enjoy their own special place perhaps as much as the grown-ups enjoy them having their own space.
Organize Your Home for the Holidays
Keep your decorations simple, but festive to create a welcoming atmosphere in your home. Take care to plan out the meal and serving dishes well in advance. If you are taking the time to create lovely and delicious food, you might as well find a beautiful way to display it.
Think about ways to make your guests comfortable in your home. Be sure to stock all toiletries and clear out a closet or other space for guests to leave their jackets. Clean and make room in the refrigerator, especially if some of your guests are bringing items to share. Freshen the carpet and deodorize your home. A pleasant scent can really go a long way.
Create comfortable places for your guests to relax before and after the meal. Bring out extra throw pillows, blankets, chairs, and don’t forget some toys and activities for the children visiting your home. You’ll find that these additions will help in making everyone’s holiday special.
Did you find today’s article helpful? Want to share your own tips on how to organize your home for the holiday season? Let us know in the comments field below. We’d love to hear from you.