ADVICE: SELLING A HOME THAT NEEDS WORK
After working for many years with so many Boomers, Zoomers and Seniors on the Move, I have seen my share of fixer-upper homes. How many have parents and grandparents still living in their older homes that are house rich and cash poor? Not everyone in the S.F. East Bay can be like Chip and JoJo Gaines or has the financial wherewithal to completely remodel their kitchen, bathrooms nor put in new landscaping, flooring etc. Yet, selling a home in rough shape can be done. Here are some quick tips:
You’ve heard this said time and again, yet it is true. Our online marketing is where most buyers are introduced to a listing, and the next step they take os to drive by the property. Now, I am not suggesting you redo your entire landscaping, yet, weeding, mowing, trimming and some ‘realtor bark’ plus some flowers in a couple pots can do a long way. Sometimes we remove the dead lawn and pop in new sod lawn; what a difference this makes.Why do this? One study out of Texas Tech University a few years back concluded that landscaping and curb appeal can directly increase the value of your home by as much as 12%. You do the math. I also recommend a pop of happy paint on the front door. It says, “Welcome! Come on in.” Ask me what some of our favorite colors have been recently. Yes, we have wonderful landscapers, gardeners as part of our team.
Play up its best features.
Again, it’s all about presentation and what we help buyers focus on with each listing the Dayna Wilson Real estate Team markets. So, we market your house based on its best features. Buyers can change flooring, counter-tops, paint, but we list positive features that cannot be changed: lot size, privacy, proximity to mass transit, coffee shops, lots of closet and storage space, a spacious master suite, high ceilings, an open floor plan, great views, a home office, lots of windows for natural light, and garage space. We note bike trails, hiking, parks and good school districts, as well.
Financing for repairs, updating.
We have a brand new .01% Enhancement Loan up to $50,000 to use should our clients wish to do a ‘face-lift’ before putting their home on the market. We will be telling you more about this in the weeks and months to come. There are certain criteria to get approved such as a min. FICO score, a current mortgage and a 6 months term. You get your money for updating and repairs within 15 days. We have the contractors, flooring and painting providers you will need to make this happen quickly. Or, you can use your own vendors, too.
The Price must be Right.
Remember that game show? Well, the same holds true in the case of selling a fixer-upper. We look at what other homes in the area have sold for that are in market, move-in ready condition. We deduct what a buyer will need to put into the home to bring it to today’s standards and calculate where the sweet spot would be for the asking price. We sell many homes in original condition or that have been well loved or not remodeled since the 70s. When priced right we receive multiple offers without doing much more than clearing out debris, inside and out and cleaning as much as possible. Fixers can run the gamut from almost a tear-down to a property that just needs flooring and paint and new appliances, fixtures and windows. There is a right price and in the end, “the market” will tell you what they see as the home’s value. Want to know our strategy?
Call us for a home CHV. (Confidential Home Valuation)