Real Estate Facts
Barbara Corcoran Quote
Prepping for Your Open House
Getting your house ready for open houses seems like a total pain, especially after you’ve already done so much work to get ready to list your home. This is when your house meets real people, though, not just the Realtor Mafia. These are neighbors who will tell their friends, people who are just starting on their house hunting journey, and clients wandering through with agents. This is the time for your home to shine!
Here are a few tips to get your house ready to impress:
Clean up the clutter. All of it. Even if you don’t think it’s clutter, pick it up and put it away.
Lower the toilet seat lids. Please.
Open all of your blinds all the way, not just to the “open twist”. If you can, remove your curtains (but leave the sheers) so they don’t bring any hint of darkness into the room. Make sure your windows are clean, too! Use a newspaper or microfiber towel to avoid lint.
Unlock your doors so people can venture into the yard and garage.
Turn on all the lights. ALL of them. Use warm colored light bulbs to warm up the space. The bright white cool colored bulbs that I love so much highlight flaws. You don’t want to allow any dark corners or “atmospheric” rooms. You want rooms to be light and bright and look bigger! Hopefully your ceilings are bright white (you did that, right?) and shining a light onto the ceiling will open up the room. Check out your lights, if they have dead bugs in them, vacuum them out! If your lampshades are dusty, replace them.
Use white in the bathroom. As much white as you can. Hotels use white to “prove” that rooms are clean and white in the bathroom will show that the bathroom is bigger and make it look new. After you clean the bathroom until it gleams and make sure the counter is bare of everything but a nice milled soap or fancy lotion and hand soap, add a white shower curtain; fresh, fluffy white towels folded in thirds, and clean white bathroom accessories. You can skip the bathmat, just make sure the floor is spotless.
If your bathroom lighting fixtures are dated, a quick trip to Home Depot or the like for a new light can update the whole room. Also, if your cabinet handles are dated, update those with something fresh. You can also pick up some shiny brass or brushed nickel knobs from the hardware store. (Hint: this also applies to the kitchen!)
Even though we took all of those family photos and distinctive artwork down when we were getting ready to list your house, give some serious thought to replacing some of your wall art with mirrors. They will make each room look lighter and bigger, especially if they face a window or a small collection of house plants. Speaking of walls, scrub your light switch plates or replace them.
Polish those wood floors and store your rugs. You don’t want your pristine rugs to get ruined and you never want to have shabby ones on display. Remove area rugs from the kitchen to create an illusion of more space and showcase that spotless floor.
Set your table with white dishes, sleek silverware, and new looking glassware atop a neutral tablecloth or placemats IF you have a giant table. Leave smaller ones almost bare, though. A bright runner or napkins will liven it up. A vase of fresh flowers will make the room smell great and look pretty and welcoming.
Open all of the doors and windows for an hour or two to let fresh air in and stale air out. Make it easy on yourself and don’t cook “fragrant” food the night before. Also, take out the trash in all rooms.
Remove all of your fridge magnets – even the cute ones or the ones holding up pictures of your grandkids. Clean out the fridge. Scrub it down. They will look in there. Trust me. I’ve seen it. Make sure the outside has no fingerprints or smudges, especially if your appliances are stainless. Don’t forget to give the stove hood and back splash a once over, they get gunky. Give your kitchen cabinets a once over, while you’re at it. You don’t need to organize them, but if there is anything that you’re never, ever going to eat, get rid of it.
Clear off the counters. All food, appliances, pens, notepads, the cute duckies, the canisters, rubber bands, even the pretty bowl of fruit should go. “Appliances” means the coffeemaker and toaster, too. Do it and stop complaining that everyone drinks coffee and eats toast. Put it all away. Keep your houseplants in one corner. Bare counters are good counters. Totally bare, not just shoved to the back to line the wall. Naked counters. The counters should gleam. If you have granite, invest in some granite polish.
Remove your jewelry, valuables, prescription drugs, and anything that would pain you to lose. Unfortunately, not everyone is honest. We wish they were, but we are dealing with the public.
Any other questions on how to prep for your open house? Drop me a line at [email protected]
How Selling Your House Is Like Making Lasagna
How many layers are there in a lasagna?
There’s no right or wrong answer to that. Other than, “more than one” probably. Even two is pretty skimpy.
So, let’s say three is minimal for argument sake. (But, four or more is better.)
The number of layers probably just boils down to using up all the lasagna noodles and sauce you have, or getting to the top of the pan you have to use. No exact amount. Use what you’ve got.
But, if all you’ve got won’t stretch to make three layers in the size pan you have, perhaps you should use a smaller pan. At least have the three layers.
This isn’t a lasagna lesson.
You could say that it doesn’t really matter how many layers there are, as long as it tastes good.
And, there really isn’t any rule that you can’t have a one or two layer lasagna. So, you’d be “right”.
It just wouldn’t look exactly right. Not a big deal. It’s lasagna.
But, this article isn’t really about lasagna, it’s about real estate. Specifically, the critical “layers” you need to have when you list your house for sale.
Like we were talking about above with lasagna, for the sake of argument, you definitely need three layers. More would be better.
So, let’s look at the three most important layers when listing your home for sale.
The 3 layers
The three “layers” you need to have when you list your home for sale are:
1- Price
2- Exposure
3- Ease of access
Price
The price of your home is the first, and most critical layer when you are listing your home. If you don’t nail the pricing, the next two layers won’t matter a whole lot.
It won’t matter how much exposure your home has if the price isn’t in line with the market. Buyers have a good handle on values, and they won’t waste their time looking at a house if the price is way out of whack.
There’s certainly a little room to be on the “high” side. You don’t need to “give your house away”. But, you really need to be priced well against the current competition, and justifiable against similar homes to yours which have recently sold.
Exposure
Exposure has gotten easier over the years because of the Internet. But the easiest way to ensure you reach every single buyer in the market is to make sure you’re on the local multiple listing service (MLS).
Beyond that, you want to make sure your listing “populates” or “syndicates” to all of the real estate sites out there. Again, the easiest way to do this is typically to list your home on the local MLS. Most agents have a system that then allows your listing to be picked up by more real estate websites than you can imagine.
Beyond that, it doesn’t hurt to have some other exposure in terms of marketing. This will vary from agent to agent, and company to company.
But the bottom line is this — your home needs to be easily found. And since most buyers are actively looking online, make sure it’s on there as “everywhere” as possible.
Ease of access
Your home needs to be easy for buyers to come and see.
Sounds simple enough…
You want your home sold, so of course you figure you’ll make it easy to come and see.
But not everyone does. More people than you can imagine make real estate agents and buyers jump through hoops to schedule a showing.
Saying no to a showing, or trying to corral every showing into a tight window of time during the week is going to hurt you.
So, just make sure you keep your house ready to show at any given moment, and say yes to any request to come see the house. (Within reason, of course…)
If you just do all three of those things, you’re in pretty good shape to get your home sold for as much as the market will bear, in as short a time as possible.
But, it won’t necessarily be as good as it could be if you were to add just a few more layers to your “listing lasagna”.
The “extra” layers.
While the first three layers are more or less non-negotiable, and will most likely get you as close to the highest offer as possible, as quickly as possible, you may want to consider these extra layers.
Adding these into your mix will increase your chances of getting the highest and best offer possible, as quickly as possible.
1- Hiring an agent who knows and understands the market.
2- Hiring an agent who is a strong advisor.
3- Hiring an agent who can negotiate.
4- Hiring an agent who keeps things together.
Knows and understands the market
It’s easy enough to hire a real estate agent. There’s plenty of them. But, you should really make sure to hire one who truly knows and understands your local real estate market.
You want one who can analyze the activity on your house, and the overall market, so that the agent can…
Advise you
There’s a lot of talk about selling homes “as quickly as possible”. The key words there are “as possible”.
Sure, you and your agent want your home to sell, and sell quickly. But “quickly” depends on the market. And you want an agent on your side who, after analyzing the market and activity, can advise you on what to do…
Should you stay firm on your price and just be patient?
Should you lower your price? If so, how much?
Is there something you can change about your house that buyers are getting hung up on? If so, is it worth doing, or will the cost be too much for it to make sense?
There’s way more than that to list, but those are just a few examples of advice your agent should be relied upon for, and be able to provide to you.
Negotiate
This is another thing that gets a lot of lip service. But an agent who negotiates well is a huge asset.
Sure, you want one that will negotiate a “win-win” enough to make a deal come together. But, you really want one that gets you the fatter end of the win. And that isn’t always just about price.
A good negotiator will get you the best price and terms.
And, more importantly, it’s important to have an agent who will…
Keep the deal together
There’s a lot of time, and a lot of things that can lead to a deal falling apart between signing the deal and a closing.
Things go wrong. People get cold feet. Buyers get greedy and ask for credits and repairs, or threaten to bale on the whole deal. Appraisers throw their opinion into the mix.
Again, just to name a few examples… but there are so many things that can make a deal fall apart.
Having a strong agent on your side, who can almost predict and nip problems in the bud before things get out of control, is a huge layer to add to your listing lasagna. And, if things do get dicey, you want an agent who can wrangle it all in and get things back on track.
Looks can be deceiving.
People often look at selling a house as pretty simple. And the truth is, it is pretty simple…in terms of the first three layers.
But that doesn’t necessarily make the best “lasagna” possible. It might look OK enough to be called lasagna, but it’s not gonna be quite as tasty as it could be, if you take enough care to add the next four layers.
And, as promised on my Facebook page, here’s my mom’s lasagna recipe.
This creamy Italian dish came from a family friend while we were living in Milan, Italy. The key ingredients are the besciamella and the sofritto in the Bolognese sauce.
Bolognese sauce
2 tbs. olive oil
1 onion, chopped
4 carrots, sliced thinly
4 stalks celery, sliced thinly
1.5-2 lbs. ground beef or veal
1 can chopped tomatoes (or a similar substitute)
2 cans tomato sauce
1 tbs. oregano
2 cloves garlic, chopped finely
1/4 tsp. cinnamon
1 tbs. thyme
1 tbs. basil
2 tsp. salt
2 tsp. pepper
1 bay leaf
Saute the onion, carrots and celery until onion is tender but not golden. This is called a soffrito. Add the garlic and saute briefly. Add the meat and brown it. Drain the fat. Add remaining ingredients and one can of water. Simmer 1/2 hour. Remove bay leaf.
Bescimillia sauce
1 pint heavy cream
2 cups milk
4 tbs. butter or margarine
4 tbs. flour
1tsp salt
1tsp white pepper (if available, if not use black pepper)
1 tsp. nutmeg
Melt the butter and blend in the flour, salt and pepper. Add the cream and milk. Increase heat to high and whisk constantly until mixture boils. Remove from heat and stir in nutmeg.
Assembling lasagna
15 lasagna noodles
1 cup Parmesan cheese
Boil 3 quarts of water. Determine how many noodles will fit in one layer in your pan. When water boils, cook that many noodles until they are flexible, but not quite al dente. Use tongs to lift them from the water and place in a layer in the pan (this assumes a 10 x 14 pan). Layer 1/3 of the meat sauce and then 1/3 of the bescimellia sauce. Repeat twice. Top with cheese. Bake in a 350 oven for 45 minutes.
Groundhog Day
Do you believe whether a groundhog sees its shadow or not is a true indication of when Spring will come?
A lot of people aren’t even sure, which means we’re going to have more winter.
But even if you do, it doesn’t make a whole lot of sense. If it’s sunny, and he sees his shadow, that means a longer winter. If it’s cloudy and he doesn’t see his shadow, it means Spring will come sooner. That seems totally backward.
And then there are lots of different groundhogs… which are you supposed to believe?
Groundhogs Don’t Predict Spring
Truth is, Spring never actually comes sooner, even if every single groundhog doesn’t see his shadow. It begins on a specific calendar day.
Now the weather on the other hand, that’s a different story. The weather will be what it will be. Weather is something people make small talk about.
But a groundhog predicting it!? Meteorologists can barely do it.
So, most people don’t put a whole lot of stock in what the groundhogs “say” on Groundhog Day. However, a lot of people do put stock in the “Spring market” when it comes to real estate.
Is Spring The Best Time To Buy And Sell Real Estate?
So many people believe it is the “best” time to buy or sell real estate. Not necessarily.
Sure, there is a definitely a “Spring market”.
But, first of all, to even say exactly what day it begins is impossible. Some real estate agents even say the Spring market begins in January. Others may say March. Or April. Maybe May.
And while there is no definite answer as to when the Spring market actually begins, it’s even more inaccurate to say that it’s the best time for you to buy or sell a house.
It might be for some clients… but certainly not for everyone. It depends on so many variables, and upon the client’s specific scenario and needs.
My Advice To You
Don’t put stock in the “Spring market”, no matter what you hear, or who you hear it from.
Do not base your decisions about when to buy or sell upon something people talk about as lightly as the weather… or whether the Groundhog saw its shadow or not.
There is no one-size-fits-all answer.
But, if you are thinking about buying or selling, or both, then we should chat. And strategize.
Is now a better moment for you to begin buying or selling?
Or is it better for you to wait until Spring is “officially” here?
Or perhaps Summer…
Or Fall…
Or Winter…
Like I said, it depends on a whole lot of variables.
So, if you’re thinking of buying or selling, let’s just chat.
If not, just stick this in your head for future reference!
Happy Groundhog Day.
