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Preparing Your Home to Sell
The absolute best time to sell a Westfield area home is in June, according to data compiled by HomeLight. So if you plan on putting your property on the market, you need to start preparing your home to sell right now. Follow this handy guide to make the process a little easier.
Preparing Your Home to Sell
Clean it Up
That includes both the inside and the outside. Vacuum and/or mop. Make sure you dust everything, including the baseboards, the window sills, and those hard-to-reach areas. Buyers use all of their senses when looking at a home. So, a property that both looks and smells clean tends to sell quicker and for a higher dollar amount.
As for the outside, you want your curb appeal to stand out. First impressions last. You do not want your home’s first impression to be a dud. Mow the lawn. Trim the hedges. Get rid of your weeds. Make sure that the pathway to the front door is clear. Place trash bins out of the line of sight.
Get Rid of the Clutter
Buyers need to see themselves living in a space in order to consider it as their own. That may prove difficult if they need to wade through your family photos, your kids’ artwork on the fridge, and travel mementos strewn about the house. When preparing your home to sell, pack up all personal memorabilia. You also want your home to look open and inviting. That means paring down your books, kitchenware, children’s toys, linens, and clothing to the bare minimum. A less crowded space makes buyers believe that there is plenty of room to hold their belongings, too. And buyers always appreciate spacious homes. Since buyers inspect every nook and cranny, you may want to consider renting out a storage unit while your property is on the market. The money you spend on storage may very well come back to you in the form of a higher sale price.
Contact a REALTOR®
Next, contact a REALTOR®. In fact, contact a few. Every agent offers something different. Since your home sale may very well be one of the most expensive financial transactions you are a part of, you need to find someone you trust and feel comfortable with. Once you find one you like, they can offer you tips about where to focus your efforts when preparing your home to sell. And just as important, they can tell you which areas you don’t need to worry about. This expertise can ensure you get your home in its best shape and on the market as quickly as possible.
Get a Home Inspection
Yes. Your buyer usually orders a home inspection. However, to avoid surprises and tackle potential problems before your property hits the market, you might want to hire your own home inspector to take a look at your property. Besides, the fact that you took the time, effort, and money to invest in an inspection ahead of time makes a great impression on potential buyers. It shows a level of trustworthiness that buyers appreciate.
Gather Your Paperwork
Finally, after all is said and done, start gathering the paperwork that buyers may need to see. For example, HOA documents, insurance claims, receipts for work performed recently on your home, etc. Warranties for new appliances also would be great to provide to a buyer. Did you install solar panels on your house in the last couple of years? Make copies of your electric bill from before installation and afterward to let buyers know about the energy cost savings. Buyers may not ask for all of this, but it helps to get all of your paperwork ready to go now in case you need it later.
Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes
Selling Your Home: The Best of Times – The Worst of Times
You probably have heard that real estate is all about location, location, location. But, honestly, sometimes it really depends on your timing, timing, timing. So, when selling your home, what is the best time to list it on the market and when should you think about waiting?
Selling Your Home
Best Time to Sell Your Home
While home sales declined throughout the state last month, the Westfield area (including Plainfield, Scotch Plains, and Cranford) still favors the seller. We live in a highly desirable area. Buyer demand remains relatively high compared to other areas of the state. However, many cities and towns in the Westfield area are seeing a shift to a more balanced market. That means a healthy buyer demand as well as good inventory levels.
Also, springtime tends to be a busy time for real estate. Nicer weather brings out the buyers. Plus, many families start looking in the spring so that they can move during their children’s summer break. So, if you want to sell your Westfield area home, now is still a great time to do so. Just make sure to work on your curb appeal and price it correctly for the current market conditions.
Is There a “Worst Time” to Sell Your Home?
For us East Coast folks, winters tend to be pretty brutal. And this winter has been no exception. However, with that being said, there really is no “worst” time to sell your home. Why? Even in the rough winter months, people still look for homes. In fact, the ones out there looking tend to be the most determined to make a deal when they find one. Therefore, as long as you truly feel ready to sell your home and move on, any time can be the right time to sell a home. Just be patient. Even in a seller’s market, homes are not selling at the breakneck speed we saw 12 to 16 months ago.
If you want to take advantage of the busier spring season, start working on getting your Westfield area home ready to list now. Then, when you are ready to put your home on the market, contact me.
Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes
Why Sellers Should Consider Getting a Pre-List Inspection
When you decide to sell your Westfield area home, there are a few steps you need to take before it ever actually hits the market. First, find yourself a good REALTOR®. Second, start the decluttering and staging process. And third, fix the things you let fall by the wayside while living in your home. That’s where a pre-list inspection comes in handy. “But, Scott. I thought the buyer pays for a home inspection.” Yes. Many of them do. However, if you get a professional inspection before you list your property, it can save you time, money, hassle, and headaches. Plus, you might end up selling your property much more quickly.
Why Sellers Should Consider Getting a Pre-List Inspection
No Surprises
I don’t know about you, but I’m not a big fan of surprises…especially when it comes to real estate. Do you really want to wait until you are in the middle of escrow for a buyer to discover problems with the house that may jeopardize the sale? A pre-list inspection helps uncover any underlying issues you may not have known about. Then, it gives you the chance to fix them.
Money-Saver
They say that time is money. That definitely applies here. Getting an inspection done prior to listing grants you time to shop around for the best price on repairs. If the repair costs come in above your budget, you may want to factor that into your list price. Keep estimates from two or three contractors. You can present these to the buyer to show your due diligence and transparency.
Makes Your Property More Marketable
Speaking of transparency…buyers appreciate that. A pre-list inspection helps buyers trust you more as the seller. If you make a buyer feel more comfortable about the fact that what they see is really what they get and there isn’t a “big bad” lurking somewhere below the surface, then they are more likely to purchase the home.
Property Tax Appeal Seminar
Have you signed up for the 2023 Property Tax Appeal Seminar yet? It takes place at the Coldwell Banker Realty’s Westfield East office on February 9th. Seats are still available. You need to RSVP in order to reserve a spot. So, please do so today. Thank you.
Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes
Home Appraisal: Does Extra Clean Add Extra Value?
Whenever a buyer finances their purchase with a mortgage loan, the lender requires a home appraisal. If the property’s appraised value falls below the agreed-upon price, your sale may fall through. So, as the seller, you want to make sure your property is in tip-top shape before the appraiser comes through. Once you get into the escrow phase of the sale, you need to go through your home once again to ensure it looks great for the appraiser. That includes cleaning it until everything sparkles.
Home Appraisal: Does Extra Clean Add Extra Value?
Bottom line? No, cleanliness technically does not affect your appraised value. However, a spotless home creates a mindset with the appraiser similar to the one it creates with a buyer. Starting off with a positive impression never hurts. Plus, it makes the appraiser (even subconsciously) think that the homeowner kept up with the property’s maintenance.
Put in the Elbow Grease
Always, always, always clean both the interior and exterior of your property before a home appraisal. That means cleaning windows, deep cleaning carpet, mopping floors, scrubbing countertops, etc. Clear the clutter. Put away toys and clothes. Make the beds. Take out the trash. Touch up paint where needed. You make an appraiser’s job easier by allowing clear access to all areas of your home. By making their job easier, it puts them in a better frame of mind. While this should not affect your home’s value, we do tend to see higher numbers for cleaner homes.
List Your Updates/Upgrades
During a home appraisal, the homeowner and/or their representative are allowed to be present. But hovering over the appraiser may agitate them. You do not want that to happen. However, you can make it easier for the appraiser by providing a list of all updates/upgrades you performed on your property, especially those that are not easily seen. That includes upgrades/repairs to the plumbing, roof, irrigation, or HVAC system.
The Way to an Appraiser’s Heart…
…is through their stomach? Well, not really. Nevertheless, providing a nice snack and beverage can only help. When they grab for a cookie and a cold bottle of water, make sure to provide them with a list of comps in the neighborhood. Yes. Running comps is part of the appraisal process. Yet, some recent comps may not show up. Your REALTOR® can make sure to print off the most up-to-date list just before the scheduled home appraisal so that it is handy. Again, this makes the appraiser’s job a little easier.
Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes
How “Days on Market” May Affect Your Home Sale
Most homebuyers look at the size of a property, its location, and the price right away. But, some buyers (as well as their REALTORS®) also look at how long the property has been on the market. Why? Newer listings get the most traffic. When it sits on the market for a while, buyers begin wondering what is wrong with it. Also, they believe the seller might be more willing to entertain a lower offer. Find out how the days on market can affect your home sale and what you can do to change it.
How “Days on Market” May Affect Your Home Sale
What are “Days on Market”?
“Days on market” (or DOM) are the number of days from when a property gets listed to when it enters a “pending” status. The average DOM varies from city to city. According to Redfin, Madison homes saw an average of 26 DOM in April 2022 while Short Hills homes spent 12 days on the market before changing over to pending. Lower DOM brings in the most interest. As the DOM grows longer, interest wanes. So, what do you do to bring back buyers’ interest?
Breathing Life Into a Stale Listing
Review Feedback – Whenever your home is shown (either through an open house or a private viewing), your agent should ask for feedback from the potential buyer and/or their representative. From this feedback, you can find out what overall impression your home gives. In turn, this provides a base from which you can build your property back up for future potential buyers.
Take it Off the Market Temporarily – Many areas allow you to withdraw your property from the market and resubmit it after a specific period of time as a new listing (typically about 30 days). In essence, this “resets” your DOM. Use your downtime to make necessary updates/repairs to freshen it up. Sometimes, this may be something as simple as a new coat of paint or trimming the landscape. Other times, you might need to replace all the flooring or renovate an area or two of the home.
Lower Your Price – A majority of the time, simply lowering the price (even slightly) triggers a reassessment of the property by buyers. It also opens your home up to a new tier of buyers that may have considered your property out of their price range before. However, consider this. If you take your home off the market and make some updates, you might be able to list it at your original asking price. Talk to your REALTOR® to determine which areas to invest your money in to bring about the best result.
Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes
Misleading “Facts” for the Home Seller in Today’s Market
Oftentimes, we hear fantastical stories about recently sold homes. Maybe your neighbor fielded several offers after only one day on the market. Or you heard about a friend of a friend who sold their rundown property for tens of thousands over their asking price without putting any effort into fixing it up. Unfortunately, these tend to be the exception rather than the rule. Yes, the Westfield area real estate market still favors the seller, according to Realtor.com. However, a home seller needs to keep an eye out for “fake news” when they put their property on the market. Otherwise, they might end up very disappointed.
Misleading “Facts” for the Home Seller in Today’s Market
You Don’t Need to Fix It Up
You may have heard that buyers will purchase a Westfield area home no matter what shape it is in. Unfortunately, that is untrue. Today’s buyer wants a move-in ready house over a “fixer-upper”. However, you do not need to break your budget trying to create a masterpiece. I cannot express how important a good cleaning is for the home seller. Even simple things like nice curb appeal, a fresh coat of paint, and minor repairs increase your premises’ attraction to buyers.
Buyers Will Pay Whatever You Ask
Just because you ask for it does not mean you will get it. You still need to price your home appropriately for the current market. That is where a good Westfield area REALTOR® comes in handy. They can run comps on recently sold homes in your area. This gives you an idea of what people are paying for properties like yours right now. If you price it too high, you end up sitting on the market for a while. You may even need to make a few downward adjustments to the price in order to entice a buyer, possibly selling it for less in the long run. A properly priced home at or even slightly below market value not only generates interest but might even bring in a higher price than you originally wanted.
Always Pick the Highest Priced Offer
Finally, if a home seller finds themselves receiving multiple offers, congratulations! Many sellers would love to be in that position. However, the highest offer is not necessarily the best offer. Other things that should factor strongly into your final decision should include the amount of the earnest money deposit, the strength of the buyer’s financing, and how many contingencies they place on the deal.
Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes
Decluttering Tips That Help Sell Your Home and Organize Your Move
One of the top priorities when getting your Westfield area property ready to sell is to get rid of the clutter. This helps prepare your home for staging. Remember, staged homes sell faster and for more money than unstaged ones. However, clearing your space with intention performs double duty. How? Organizing your “stuff” not only clears the clutter but also helps you when it comes time to move. Use these decluttering tips when preparing to list your home for sale.
Decluttering Tips
Start Right Away
First, start the declutter process right away. It might surprise you how long it takes to go through personal items, memorabilia, etc. The sooner you begin, the less stressed you will feel about meeting your home listing deadline. Also, simply start in one room and work your way throughout the house so as not to feel more overwhelmed than necessary.
Sort
Another one of my helpful decluttering tips is to sort everything you come across into three separate piles: keep, donate, and trash. If you want, you can even make a “maybe” pile. Box these particular items up and include a detailed label. Then, if you find that you have not opened that box in six to twelve months, you may want to consider donating them.
Pack
Next, start packing. Clear bins work best because they make it easy to see the contents inside. However, cardboard boxes offer a cheaper alternative. When using cardboard boxes, make sure to clearly label which room it belongs in and what the box includes inside. That way your dishes do not end up in the bedroom and your clothes do not end up in the kitchen. Trust me. You’ll thank me later. Make sure to write the appropriate room on more than one side of the box in large letters for easy recognition.
Trash the Paper
Finally, get rid of all that unnecessary paper. Receipts. Magazines. Old bank statements. Junk mail. We tend to accumulate paper. Shred any personal or financial information to avoid identity theft. Recycle junk mail and envelopes. Magazines can either be tossed out or donated to libraries and retirement homes.
Perhaps the most important one of these decluttering tips is to just get started as soon as possible. Before you know it, your Westfield area home will be ready to show. Plus, you will already be well on your way to being ready to move out when it sells.
Scott Gleason, CRS at Coldwell Banker Realty – East, NJ Luxury Homes
