The 7 Mistakes to Avoid as a Home Seller

Selling a home is complicated but it can be even more complicated if you make one of these seven rookie mistakes.

Here are the seven mistakes that you need to avoid if you plan on selling your home anytime soon:

 1. Working alone. You need a real estate professional on your side to help you out. 92% of people use a real estate professional for a reason. It’s because we know the ins and outs of the process and can get you from point A to point B safely and with the most money.

 2. Trying to time the market. A lot of people want to do this, but it’s really hard to find the peaks and valleys of the market as they’re happening. Quit trying to time the market and just make your move when you need to make it.

 3. Pricing too high. This isn’t the best way to get the most money. By appropriately pricing the home at or slightly below market value you can create a bidding war and increase that sale price.

Don’t skip out on good home photography.

 4. Having a cluttered home. The home that we live in and the home that we sell are different things.

 5. Failing to make repairs. Don’t hesitate on those necessary repairs. I see people wait until after the negotiation, and it can become a lot more costly if not taken care of up front.

 6. Skipping great photography. In this day and age of digital media, you need to have fantastic photographs of your home. Don’t skip that part. Get a professional photographer there to take great photographs.

 7. Not keeping your emotions out of it. I see people who get personally offended when they receive a low offer, but don’t let that affect you. Selling your home is a business decision and shouldn’t be made emotionally.

If you have any questions for me about this list or real estate in general, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.

No comments :
Labels:
Location: Chattanooga, TN, USA

Things for 2020 Homebuyers to Think About


If buying a home is in your future, I have some helpful advice for you today. Here’s what you need to know before you start looking at homes.

If you’re thinking about buying a home in 2020, I have some important information for you to think about before you start the process.

The first thing I would consider is your income and spending habits. What can you actually afford to pay for a home and what are you qualified for? Those two numbers are not always going to align. Lenders can qualify you for far more than you can afford comfortably, so I would advise planning and finding a number that you can really afford before you go see the lender in person.

The down payment is another thing to consider. You’ll have to save up, or maybe look at getting a grant from a family member. Perhaps a down payment assistance program is the right fit for you.

Choosing the right agent is of the utmost importance.

Have you checked your credit score lately? The higher your score is, the better your interest rate will be on your loan. Getting that best rate will end up saving you a lot of money over time.

It’s also a good idea to ask an agent to see what the paperwork looks like for buying a home so you know exactly what information you’ll need to have on hand. The paperwork varies by state and changes every year.

Speaking of agents, it’s so important to choose the right one. There are a lot of people who have a real estate license, but there are very few people who have the decades of experience that are necessary to help you succeed. We have a great mix of agents who are newer to the business and agents who have been in business for 30-plus years like me.

If you have any questions for me or need our experience to help you get the homebuying process started, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.
No comments :
Labels:
Location: Chattanooga, TN, USA

Determining If We’re In a Buyer’s or Seller’s Market


Have you ever wondered how a real estate professional knows if they’re in a seller’s market or a buyer’s market? Find out right here.

How do agents determine if it’s a buyer’s or a seller’s market?

We do this by looking at the inventory of homes for sale in the market. Let’s say that no more homes came on the market for 30 days—to determine the type of market we’re in, we’d look at how long it would take to sell every single home that is currently available and has been on the market for a while. That’s called the attrition rate.

If it would take six months or fewer to sell everything that’s available now, we would deem the market to be a seller’s market. Right now in many areas across Tennessee, we’re seeing between one and three months of inventory available.

However, there are some areas where we’re seeing inventory increasing. Does that mean we’ll instantly deem it a buyer’s market? No—typically, if there are five to six months of inventory available, that’s more of a balanced market that is fair to both buyers and sellers.

The type of market does make a difference in the price you’d sell a home for and/or the price you’d offer on a home you wanted to buy.

If it would take six months or fewer to sell everything that’s available now, we would deem the market to be a buyer’s market.

Home sales tend to slow down from the top of the price range on down. For example, $750,000-home sales will begin to slow down before, say, $350,000-home sales. As the market slows down, we usually begin to see incentives being offered by the sellers of more expensive homes. As a market comes back to life and transitions to more of a seller’s market, we see boosted activity around the cheaper homes, and the market begins to grow from the bottom on up. Why? Because the sellers of, say $100,000 homes, will then turn around and buy more expensive homes.

Currently, our market is a seller’s market, but we’re beginning to see fewer multiple-offer situations on homes and more price adjustments/incentives. These are signs that the market is shifting from a full-blown seller’s market to one that favors buyers a little more.

Whether you’re buying or selling, ask your agent what kind of market you’re currently in. Your real estate professional should know this, since it does make a difference in the price you’d sell a home for and/or the price you’d offer on a home you wanted to buy.

The Charlotte Mabry Team is full of buying and listing specialists who really understand the market and can get you the best deal depending on which side of the spectrum you’re on. We would love to speak with you! All you have to do is reach out to us, and one of our specialists will be in touch with you.
No comments :
Labels:
Location: Chattanooga, TN, USA

Get Your Home Ready for Winter With These 7 Tips


If your home isn’t quite ready for winter, it’s time to prepare it with these seven tips.

Fall has arrived and you know what that means: Winter is right around the corner. So, with that in mind, what can and should homeowners do to get ready for the season?

There are actually several ways you can prep your home for winter, but here are just seven of the most important:

1. Get heating and air systems serviced. Not only will keeping these systems in good working order keep you more comfortable, but doing so will also help you save money on energy bills. These systems can last anywhere from 10 to 25 years, and the main difference between the ones that last just a decade and the ones that last more than twice that long is the frequency with which they’re serviced, so make sure you’re scheduling such check-ups every year.
 
2. Paint, caulk, and seal your home’s exterior. This will help trap warm air in while keeping colder air out.
 
3. Clean your gutters and make sure water is draining away from the property. If water from your downspout and gutters isn’t draining correctly, then you may be at risk of damaging your foundation.

The main difference between the air and heating systems that last just a decade and the ones that last more than twice that long is the frequency with which they’re serviced.

4. Clean out your chimney. This is important to reducing your risk of a house fire.
 
5. Make sure your smoke and carbon monoxide detectors are working. Again, this is crucial to keeping yourself and your family safe.
 
6. Overseed your yard. Here in the South, now is the time to overseed your yard so that your grass grows in nice and full when winter is over.
 
7. Check the attic and make sure it’s pest-proof. Critters are more likely to try to get into your home at this time of year, so any holes or cracks should be identified and covered up ahead of time.
 
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.
No comments :
Labels:
Location: Chattanooga, TN, USA

How to Make Your Home Listing Stand Out This Fall


What does it take to make a home listing stand out in the fall? Following these seven tips is a great place to start.

If you’re thinking of selling your home this fall, chances are you’re wondering what you can do to make your property stand out and look its best. After all, there are a few special considerations you’ll need to keep in mind when selling at this time of year. Thankfully, by following just seven key tips, your home will be sure to make a great impression on potential buyers:

1. Clean up your yard. Fall leaves are beautiful when they’re on the trees, but they can make a yard look cluttered and messy once they hit the ground. Make sure to rake as often as needed while your home is on the market, paying special attention to walkways, in particular. Curb appeal is massively important.

2. Change out summer flowers for autumn ones. Pansies and mums make a great addition to any yard in the fall.

3. Check out your heating and air systems. Not only will this keep them functioning more efficiently, therefore reducing your energy bills while your home is on the market, but it will put buyers at ease to know your home systems are in great shape.

4. Clean your fireplace. Buyers love fireplaces, but if yours looks worse for wear then it probably won’t elicit quite the glowing response you would like. So, like every other part of your home, you should thoroughly clean your fireplace before buyers step inside.

After 33 years of selling homes, our team has gained a lot of experience in appealing to buyers.

5. Leave out fall-themed treats. Cozy touches can really make your house feel like a home. The smell of freshly baked goods will do wonders in and of itself, and allowing potential buyers to take a tasty treat from their visit will only sweeten the deal.

6. Keep fall decorations tasteful. Seasonal touches are great, but don’t go overboard. Not everyone will enjoy walking through a listing that looks more like a craft fair than a home.

7. Offer a thank-you card with candy. Showing buyers that you appreciate them will help your home sell quickly.

After 33 years of selling homes, our team has gained a lot of experience in appealing to buyers. The tips we’ve shared here are just a few of the ones we can help you implement to make your home sale a success, so if you’d like to learn more or if you have any other questions, please reach out. We look forward to hearing from you soon.
No comments :
Labels:
Location: Chattanooga, TN, USA

The Top 5 Reasons Fall Is a Great Time to Sell


Fall is a great time to sell, and there are five reasons why.

If you’re thinking of selling your home but you’re afraid you missed the boat because fall is here, I have good news: Fall is a great time to sell your home, and there are five reasons why.

1. Demand is high. Spring isn’t the only season with a high volume of home sales. Buyers are still out there looking for homes, and many home sales get done during this time of year.

2. You’ll face less competition from other sellers. Other sellers will be taking their homes off the market, which means you’ll be better positioned to take advantage of these favorable conditions.

3. If you need to buy after selling, there’s more inventory in the fall. This is especially true in the upper price ranges, and there are a lot of bargains to be found there.

Buyers are still out there looking for homes, and many home sales get done during this time of year.

4. Mortgage loans are being streamlined in as quickly as 30 days. In other words, if you’re in a hurry to buy after you sell, you can do so more easily.

5. Fall buyers are more serious. Think about it: If someone’s looking to buy a home after the school year has already started and before the holiday season revs up, it’s probably because they were transferred here via a job relocation, and they need to buy quickly.

If you have any more questions about this or any other real estate topic or you’d like to start your home selling journey now, don’t hesitate to give me a call or send me an email. I’d love to speak with you.
No comments :
Labels:
Location: Chattanooga, TN, USA

The Pros and Cons of Selling to an iBuyer


Are you better off selling to an iBuyer? The answer depends.

What is an iBuyer? As a seller, should you consider doing business with one?

To answer the first question, an iBuyer is a catch-all phrase for an online real estate investor who’s looking to reduce transaction costs by purchasing digitally. They more or less rely on automated valuation portals instead of professional appraisers. Sometimes this can work to a seller’s advantage, while other times it can work to their detriment.

In the past, iBuyers would focus a lot on fixing and flipping properties, but nowadays more and more of them are fixing up houses and then using them as rental properties. This is one reason why our inventory has shrunk.

In any case, the benefit of selling to an iBuyer is it makes your transaction quick and easy. However, in almost every transaction I’ve ever researched involving an iBuyer, the seller lost money. In fact, studies show that when sellers sell to an iBuyer, they net an average of 11% less than they would have if they sold their home the conventional way with the help of a Realtor. This means if you were to sell a $300,000 home to an iBuyer, you’d leave $33,000 on the table.

Don’t sell to an iBuyer without first asking a real estate professional what it will sell for on the open market.

Even though iBuyers don’t charge a commission fee, they do charge a transaction or offer fee, and this can often be twice as much as a commission fee.

I recently came across a news story about a seller in Atlanta who got two offers from two iBuyer companies—one for $248,000 and one for $256,000. The seller decided to list their home on the open market, and when all was said and done, they sold it for $297,700. In all fairness, they did have to pay for some out-of-pocket repairs and discount the price due to an inspection issue, and that brought the final sale amount to $262,000, but that’s still more than what they would’ve gotten by selling to an iBuyer.

So you must ask yourself: Are you more interested in selling quickly or getting the most amount of money? Neither answer is wrong—it just depends on what your circumstances are. No matter what your answer is, don’t sell to an iBuyer without first asking a real estate professional what it will sell for on the open market. You’ll be sorry if you don’t, especially considering the rising prices in our market. Why do you think so many iBuyers are out there looking to buy homes at a discount? It’s a great investment opportunity for them. When it comes to your home sale, though, don’t sell yourself short.

If you have any questions about this or any other real estate topic or you’d like to know what your home is worth, don’t hesitate to reach out to me. I’d love to help you.
No comments :
Labels:
Location: Chattanooga, TN, USA

How Can You Tell if A Fixer-Upper Is A Good Deal?


How can you determine if the fixer-upper you’ve got your eyes on is a savvy investment? We’ll get to the bottom of this question today.

While some fixer-upper properties prove to be wise investments, that’s not the case for all of them. So how can tell if the property you’re interested in is a good deal?

A good place to start is understanding that the average sale price for a move-in ready home is right around $250,000 in our area. Further, the average price for an area home in need of repairs is more like $200,000, but there’s a catch: The work that needs to be done to bring that fixer-upper property up to its potential market value amounts, on average, to a whopping $47,000! That’s even assuming you stay under or at your budget; in many cases, homeowners go well over their budget.

After countless hours and $47,000 worth of work, your home’s updated value is $247,000—still $3,000 shy of the average price. Does that constitute a good deal? It can—especially if you do much of the work yourself.

The lesson here is before you purchase a fixer-upper property, you need to have a concrete budget in mind and know how much you’re spending and what you’re spending it on.

As I mentioned previously, the problem is that many people spend more than their budget allows for. In fact, it’s been shown that when a homeowner goes over budget on fixing up a property, it’s by as much as $25,000 when all is said and done.

The lesson here is before you purchase a fixer-upper property, you need to have a concrete budget in mind and know how much you’re spending and what you’re spending it on, so that you don’t make the same budgeting mistake. As a final note, keep in mind that the buyers who don’t regret going over their budget one bit are usually the ones who have moved into the property themselves.

If you have any questions or you’re thinking of investing in a fixer-upper home, please reach out to the Charlotte Mabry Team. I can assure you we have professionals who have ample experience helping buyers and investors do this very thing and we’ll be happy to help!
No comments :
Labels:
Location: Chattanooga, TN, USA

What Is the Process for Selling an Inherited Home?


Selling an inherited home can be a little tricky, but we hope to make it a little easier today with a few helpful tips.

From time to time, we deal with clients who have inherited a property and need to sell it. If you or someone you know is in this situation, here’s what you need to know.

If the property is coming from someone in your family who has passed away, it’s always important to start by figuring out whether there is a will in place or if you need to go through the probate process. Time and time again, we sell properties where families haven’t asked that question yet, but want to sell quickly. Probate can take up to six months, so it’s important to know about that up front.

Staging is one way to increase your final sale price.

Sometimes an inherited property will be older and outdated. In the age of HGTV, today’s buyers want to buy a modern, turnkey home. If your home doesn’t look like that, what can you do?

You can start with staging, but that’s something that should be decided on a case-by-case basis. We can also help offer you advice on the renovations and updates that make sense for you, your timeframe, and the goals of your sale. We’re happy to provide you with different pricing options when it comes to selling an inherited home. We’d be happy to come take a look at your inherited property to determine what the best price is for you and your situation. 

If you have any questions for me in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.
No comments :
Labels:
Location: Chattanooga, TN, USA

4 Secret Questions You Should Ask an Agent Before Hiring Them


Have you ever wondered which questions to ask an agent before signing up with them? Learn what they are here.

Today I’ll share four secret questions you should be asking an agent before you work with them. No matter if you’re buying or selling, these questions are very important:

1. “How many homes have you personally sold?” All of us agents were new at some point, and there are some fantastic agents out there in the market who are working hard to sell real estate. The important question for YOU to consider, then, is whether you want your home to be the first your agent has ever sold. I’m not really sure that’s something you’d want to do or not. Frankly, I didn’t know what I was doing with the first home I sold. Now that I’ve sold nearly 4,000 houses, I know what I’m doing.

2. “What is your average days on market?” Some agents don’t know that number at all; it would worry me a little bit to see an agent who didn’t know how long it took for a house to sell on average. For the past 32 years, the average days on market for homes my team has sold has been 56 days!

Do you really want your home to be the first an agent has ever sold?

3. “Do you work as part of a team?” I’m a little biased on this front since I’ve had a team working with me for over 25 years. Having a team to assist you as a buyer or a seller is such a great tool to be sure that everything is done properly.

4. “Besides the MLS, how will you promote my home?” In real estate, agents sometimes say that there are three “P”s to selling a home: Put a sign in the yard, put it on the MLS, and pray. Those things are great, but there’s actually a fourth “P”: proactive. How will your agent be proactive about marketing your home? For every unique home, there’s a unique way to promote it, so choose an agent who knows how to market a home to the widest possible audience.

If you’re thinking of selling your home, the Charlotte Mabry Team would love to talk to you more about how we’ll help sell your home quickly and for the most money. Just reach out to us and we’ll show you what we can do.
No comments :
Labels:
Location: Chattanooga, TN, USA

Protect Your Home During Showings With These Tips


Today’s tips will give you peace of mind that your valuables are safe while you’re holding open houses and showings.

Your home is on the market and you’ve got some showings, and maybe even an open house, lined up.

While buyers are coming and going, how can you be sure that everything in your home will be protected?

Your first priority should be to pack up all of your valuables. To illustrate my point, years ago, I received a phone call from a friend whose home was on the market. She had some bad news: Following her open house, she discovered that her wedding rings had vanished! As it turned out, her children had snatched the rings and stored them in their toybox.

This was a false alarm, but it makes you realize that, if left in plain sight, your jewelry, heirlooms, and items with liability associated with them (e.g., firearms) are all up for grabs for a thief. Your valuables should be locked up, put away for safekeeping, and if possible, off the premises.

On the subject of open houses, it’s an unfortunate reality, but some people posing as buyers attend open houses to search for and steal prescription drugs. Just as you would with your valuables, hide your prescriptions and consider finding a place for them off-site.

In my 32 years as an agent, I’ve never had one seller lose their possessions to a thief, and my team and I will work to make sure you aren’t the first.

As homeowners, many of us hang our lives on our refrigerator doors—pictures of our kids, our bills, our monthly calendars, etc. That’s a lot of personal information that could be tempting for a thief. Play it safe and clear everything off your refrigerator doors.

Lastly, if you have them, you might turn on your security cameras during showings and open houses. However, I’d recommend you err on the side of caution and let buyers know ahead of time that you plan to do this. Having a sign in your front yard that reads “This property is under video surveillance” will not only give buyers a heads up, but it might deter a would-be thief.  

In my 32 years as an agent, I’ve never had one seller lose their possessions to a thief, and my team and I will work to make sure you aren’t the first.

If you have any questions or you’d like more information about selling your home, feel free to send me a personal email at Charlotte@CharlotteMabryTeam.com or give us a call at 423-593-5588. I hope to hear from you soon!
No comments :
Labels:
Location: Chattanooga, TN, USA

How Your Home’s Value Is Calculated


Real estate agents calculate your home’s value by conducting a market analysis. Here’s how this works.

If you’re getting ready to put your home on the market, how do you know what you should list it for? What factors does your agent look at in determining this?

We start with a market analysis, first on a local level and then on a broader level. We look at what homes have sold on your street and what they sold for, then we do the same thing for the entire neighborhood, even if the homes don’t look exactly like yours. After that, we look at the sold homes that are most similar to yours and check what they sold for.

I would be happy to give your home this same market analysis, even if you’re not ready to sell it yet.

From there, we expand and cover the entire general area for comparable sold homes. If you live in Ringgold, for instance, we’ll search that ZIP code for sold homes of the same style, age, and, possibly, decoration. Then we’ll look across town and see what buyers might pay for your type of home in other neighborhoods.

After we gather all of this data, then we determine your home’s price. I would be happy to give your home this same market analysis, even if you’re not ready to sell it yet. It’s a great way to plan ahead and know what your home is really worth.

If you’re interested in getting an updated market analysis for your home or you have any other real estate needs, don’t hesitate to reach out to me. I’d love to help you.
No comments :
Labels:
Location: Chattanooga, TN, USA

When’s the Best Time to Sell?


When is the best time to sell your home? The answer may surprise you.

Have you ever wondered when the best time to sell your home is? Housing experts have, and they’ve got the exact month and day down to a science.

What’s the answer?

Supposedly, there are a few days in May and June each year where you can secure the best deal on your home. But guess what? There’s really no bad time to sell your home in our particular market.

May and June have come and gone, but that doesn’t mean your opportunity to capture a high sale price on your home has! Our summer market is teeming with activity as buyers are looking to get into a home before school starts up again.

Right before the school year kicks off, we tend to enter into a short cooling period. However, from fall until shortly before Christmas, activity picks up again. And the week of Christmas? It’s almost just as busy!

Actually, January marks the start of the spring selling season.

I would say that the absolute best time of year to get your home on the market, if there is one, is the springtime. Now, most people assume that spring isn’t officially underway until around March, so they hold off until selling until then. Actually, January marks the start of the spring selling season.         

In our market, the week before school starts and the week after it ends for summer break are the only two times you might want to think twice about getting your home on the market. Otherwise, any time is a good time in our Chattanooga/North Georgia market.

If you’d like for us to share some tips and tricks with you for getting your home primed for the market, send me an email at Charlotte@CharlotteMabryTeam.com or give me a call at 423-593-5588. I hope to hear from you soon!
No comments :
Labels:
Location: Chattanooga, TN, USA

How Buyers Can Best Position Themselves Amid Multiple Offers


With the number of multiple offers shrinking, now is a great time for buyers in our market. Here are some ways you can capitalize on this opportunity.

A question on the minds of many buyers is, “Are multiple offers still coming in on homes?”

The answer is yes, but buyers should be encouraged by a recent development: Not too long ago, a home in our market collecting 20 offers or more was the norm, but now, the average seller is seeing fewer than five.

So while you might still encounter a multiple-offer situation on the home you’re interested in, you can give yourself an edge by proceeding in this way:

First, sell your existing home before jumping into the market. This way, you’re not competing against buyers who’ve already done so.

Second, give the seller an opportunity for concessions. Whether they would like a little extra time before moving out or request to keep a piece of furniture, be willing and open to allow for small concessions.

An experienced agent will have made their fair share of counteroffers on behalf of their clients and knows the tricks of the trade when it comes to making your offer stand out.

Third, ask the seller what’s important to them. You may not know that the extra time to stay in the home or a piece of furniture is important to the seller until you ask. Find out what they put a premium on before even making your offer.

Fourth, be prepared to receive a counteroffer. In today’s market, you’ll more than likely not get everything you ask for on the first try. Brace yourself for a potential (and probable) counteroffer so you won’t be surprised.

Last, but not least, be sure you use an experienced buyer’s agent. This type of agent will have made their fair share of counteroffers on behalf of their clients and knows the tricks of the trade when it comes to making your offer stand out.

If you’d like any information on how to be in the best possible position and with the right buyer’s agent, we’d be glad to share it with you. Please either send me an email at Charlotte@CharlotteMabryTeam.com or call us at 423-593-5588. We look forward to hearing from you! Go out and make it an awesome day!
No comments :
Labels:
Location: Chattanooga, TN, USA

Working With Either an Online or Local Lender—Which Do You Choose?


Is using an online mortgage lender a viable option or would you be better off going with someone local? Find the answer in today’s message.

You’ve decided to buy a home. Congratulations! The next decision to be made is who will help you in that endeavor—an online or local lender? No matter which you choose, it’s important to weigh the pros and cons of each.

In the ‘pro’ column for going the online route, you can take advantage of the Keller Williams Mortgage. Their online application is easy and painless, and you won’t have any closing costs whatsoever. What’s more, you’ll get money back at closing.

In addition to this, online brokerages are often less stringent with their credit score requirements. If yours isn’t quite up to par, you can expect greater flexibility with a lender you find online.

Now, for the drawbacks: For one thing, your risk of falling prey to online fraud and scammers is greatly increased. Anything you do online with all of your sensitive information is not without risk. By sitting down with a local lender and filling out an application the old fashioned way, with pen and paper, you’re free from the potential dangers of online tricksters.

The bottom line is the choice is yours, but take note of the fact that the best rate isn’t always the best deal.

Another thing to consider is that online mortgage lenders are more apt to approve you for more than you should buy. Just because you qualify for a certain loan amount doesn’t mean you should be spending that kind of money. When you meet with a local lender, on the other hand, they’ll tell you the unvarnished truth and help you reach a decision that’s in your best financial interest.

Not only that, but online lenders are also often less accessible to answer your questions or address an issue, should something go awry. It’s nice to know that you can physically meet with your lender and have an eye-to-eye conversation in such cases.

The bottom line is the choice is yours, but take note of the fact that the best rate isn’t always the best deal. It really boils down to who you’re working with and whether they have your best interest at heart.

We at the Charlotte Mabry Team would be happy to make a recommendation to you if you’re trying to decide on a mortgage lender. For help with that or if you have any other questions related to real estate, just send me an email at Charlotte@CharlotteMabryTeam.com or give us a call at 423-593-5588. I hope to hear from you soon!
No comments :
Labels:
Location: Chattanooga, TN, USA

Go Into the Final Walk-Through of Your New Home Prepared


You’re a few days away from closing on your new home, and it’s time to do one last walk-through.

You’re a few days away from closing on your new home, and it’s time to do one last walk-through. Rather than going it blind, you’ll want to know what to look for. Keep an eye out for these items:

First of all, be sure to conduct your last walk-through before the official closing date. You’ll set yourself up for a much smoother closing day if you opt to walk through the property the day before instead. If water has seeped into the home, for example, you don’t want that to go undetected right up until the day of closing because it’ll leave you with virtually no time to address the issue.

Next, take a careful look at all the electrical outlets in the home, and as a supplementary bit of advice, bring a hair dryer or your phone charger along with you to check that each outlet is functioning.

The final walk-through also gives you a chance to make sure that everything from the former homeowners has been moved out. When scheduling your move-in time, make sure to do so with the seller’s schedule in mind.

This is an opportunity to ensure that major items are in working order and everything is still standing rather than an opportunity to inspect every nook and cranny of the property.

There are a lot of emotions at play during this time, and unwelcome surprises are the last thing you want one day before move-in. Many buyers walk into their new home for one last look, only to find that it’s not how they remembered it.

That’s because they’re remembering a beautifully staged property and, without all the staging materials, it appears much more bare. Be prepared for that and keep in mind that once you’ve moved your belongings in, it’s going to look like a home again. Lastly, treat the walk-through as an opportunity to ensure that major items are in working order and everything is still standing rather than an opportunity to inspect every nook and cranny of the property.

As you venture into the home buying process, you need to work alongside a buyer’s specialist who’s looking out for your best interest. At the Charlotte Mabry Team, that’s one of the things we do best. If you’d more information on the process, please send me an email at Charlotte@CharlotteMabryTeam.com or give me a call at 423-593-5588. I hope to hear from you soon!
No comments :
Labels:
Location: Chattanooga, TN, USA

5 Reasons to Sell Your Home in 2019


Taking the plunge and selling your home is a big step, and for some, it’s one that takes some convincing.

If you’re searching for reasons to sell your home in 2019, I have five of them for you today:

1. Low inventory. Before long, you’re going to find yourself in a more crowded field of listings. We’re coming out of a years-long period of little to no inventory—particularly in the below-$300,000 price ranges. Now that inventory is picking up steam once again, competition is going to become stiffer, so get out in front of that competition.

2. Cash equity. Right now, your home is likely worth more than it has been in years. Taking advantage of all that equity in your home is an easy call to make.

3. Demand remains high for homes at $300,000 and under. If you’re somewhere in the $100,000 to $200,000 range, now’s your best chance to sell your home for a very handsome price.

Now that inventory is picking up steam once again, competition is going to become stiffer, so get out in front of that competition.

4. Mortgage rates are still low. Although inventory is swelling and homes are spending longer periods on the market, our current low rates are conducive to securing a great purchase price on your new home.

5. Millennials are stepping into the market. This phenomenon helps move the lower price ranges so that move-up buyers can get into the middle ranges, which further drives activity upward. This has been a missing piece in our market up until now, but throngs of millennials are hitting the market and they’re ready to buy.

If you'd like to learn more about getting the most money in the least amount of time from your home sale, our team has all the information you need. You’re welcome to send us an email to Charlotte@CharlotteMabryTeam.com or give us a call at 423-593-5588. I look forward to helping you sell your home in 2019!
No comments :
Labels:
Location: Chattanooga, TN, USA

How to Keep Your Deck/Patio in Great Shape


It’s springtime—which means it’s time to think about home maintenance. How can you take care of your deck and patio in the best way?

Anytime you own a home, you have to deal with home maintenance. If you have a deck and patio, you’ll know that those areas really take a lot of wear and tear. So what can you do to keep your deck in tiptop shape?

1. Seal your deck every few years. This will help maintain your deck’s good condition. With all the rain we’ve been having, there’s a good chance that there’s some mold and mildew building up.

2. Rearrange your furniture once a year. This will help keep the mildew growth down, and it allows the air and rain to travel in different areas on your deck, which can help reduce mold growth and other problems related to exposure.
 
3. Do not paint your wood deck. If you paint your wood deck, it’ll be pretty for a time, but it won’t be long before it becomes a maintenance nightmare.

Your deck and patio are great selling points for any home, so be sure to do what it takes to keep them in good shape.

4. Don’t overdo your power washing. Excessive power washing can really warp the boards on your deck and possibly tear up the siding, so be careful. If you’ve got a synthetic composite deck, it’s a little easier to power wash.

5. Don’t use chlorine bleach. To clean your deck, just use regular water, and also avoid using abrasive tools like wire brushes to clean. Just let the power washer do its work.
 
There are certain companies that will help you keep up with your deck and patio maintenance, and there are also ways that you can do it yourself. Regardless, your deck and patio are great selling points for any home, so be sure to do what it takes to keep them in good shape—that’ll bring you lots of good money when it comes time to sell your home. 

If you’ve got questions about buying, selling, or maintaining a home, feel free to reach out to me. I’d be glad to help you.
No comments :
Labels:
Location: Chattanooga, TN, USA

What Are Buyers Looking for in Today’s Homes?


What kinds of things do today’s buyers love and hate in a prospective home? We’ll be going over a few examples of each today.

If you’re thinking about selling your home and you’re wondering what the best and worst features of your home are in the eyes of potential buyers, look no further. We’re going to talk about that today.

If you have laminate kitchen countertops, that’s something you should consider replacing. Today’s buyers want granite, quartz, or another similar solid surface. Today’s buyers also want laminate or hardwood flooring.

Also, if you have a room that’s unused, such as a sunroom or a media room, let’s make that space more of a multi-purpose one. Maybe it can function as those things, but also as a bedroom or lounge area.

Today’s buyers don’t use or care about whirlpool tubs.

If you have a whirlpool tub, know that today’s buyers don’t really want or use them. If you have an opportunity to do a remodel, replacing the big tub with a nice shower is a smart idea. Outdoor kitchen and fireplaces aren’t as popular as they used to be either.

Finally, neighborhood walking trails are not a selling feature that really registers on people’s radars anymore.

If you're thinking about selling your home, we’d be happy to answer any questions you have and send a list of things you can do to help get your home ready for sale. Don’t hesitate to reach out to us by phone or email. We look forward to hearing from you soon.
No comments :
Labels:
Location: Chattanooga, TN, USA

Are You Sabotaging Your Own Listing Success?


Unless you want to sabotage your own chance at success, steer clear of these five common listing mistakes.

Unfortunately, it doesn’t take much to mess up a home sale. Many seemingly innocent actions can hurt your chances of success.

There are five simple things that can work against you when you list:

1. A color scheme that’s out-of-step with current trends. One of the least expensive things you can do to help your home sell quickly is to paint it. Using neutral colors is best, as off-trend or overly vibrant hues could turn off potential buyers.
 
2. Overly personal decor. As much as you love the family photos or sports paraphernalia you’ve got on display, it’s important to remember that buyers want to see the property as their future home—not your current one. When you declutter before listing, make sure you also depersonalize.

If you’ve got unaddressed pet odors in your home or you haven’t cleaned in a while, buyers are sure to turn up their noses at your listing.

3. Unpleasant odors. If you’ve got unaddressed pet odors in your home or you haven’t cleaned in a while, buyers are sure to turn up their noses at your listing. On the other hand, pleasant smells can also be overwhelming. Rather than the collective scent of 15 candles, aim for light, fresh smells. A clean-smelling home is ideal.
 
4. An inflexible schedule. As a seller, you should open your home up for showings as often as possible. The less often you make your listing available, the less likely you’ll be to get an offer.
 
5. Undisclosed problems. If you try to disguise the issues in your home rather than being upfront about the problems that exist, this is bound to come back and haunt you later in the deal. Whether it's during the inspection, a showing, or the final walk-through, buyers will find out what’s wrong with your property.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.
No comments :
Labels:
Location: Chattanooga, TN, USA

Is the Mortgage Monkey on Your Back? Here’s How to Get It Off


Here’s how you can shake the mortgage monkey off your back.

Many homeowners can’t wait for the day when the mortgage monkey will no longer be on their back. If this is true for your situation, what can you do? 

For one, you can make some extra payments on your loan. Most loans in today’s market don’t carry a prepayment penalty, which means they won’t penalize you for paying extra. Be sure to instruct your lender to allocate that money toward the principal, though, and not the interest on your loan.
 
There are several ways to do this; you can request a bi-weekly payment schedule with your lender. In this way, you’ll be making one extra full payment per year—thirteen as opposed to twelve. You’ll get a little ahead on your mortgage, and the interest will drop accordingly.

Always be sure your lender knows that you want the extra money to be applied toward the principal.

If your lender is unwilling or unable to grant that request, no problem—you can pay extra toward your principal each month. Locate your copy of the amortization schedule you should have received when you purchased your home. Using this, you can determine how much of your payment is going to interest and how much is going to principal. If $950 of your $1,000 payment is going to interest while the other $50 will go toward the principal, you can make that full payment and then write a bonus check of $50 on top of that. You can follow this month to month and chip away little by little at your principal.

If you’ve recently received a year-end bonus at work or you’ve come into some inheritance, you can make a lump sum payment as well. And, again, always be sure your lender knows that the money is to go toward the principal.

If you’d like more information on what we’ve covered today, please send me an email at Charlotte@CharlotteMabryTeam.com. I’d be glad to answer any questions you have!
No comments :
Labels:
Location: Chattanooga, TN, USA

Private Mortgage Insurance & Its Necessity in the Home Buying Process


Homebuyers seeking a loan product with a down payment requirement of less than 20% need to be aware of this compulsory mortgage insurance.

Private mortgage insurance (PMI): What is it, and why should homeowners have it?

PMI can be defined as an insurance policy that homebuyers must take out and pay for when applying for a home loan; it essentially lets your lender know that you won’t default on your home loan.

Lenders require this safeguard when the down payment on a loan is below 20%. So if you’re applying for a home loan of this nature, bear in mind that you’ll need to purchase PMI.

Generally, this insurance will cost you somewhere between $30 to $70 on a monthly basis for every $100,000 that you’ve borrowed.

There is, however, an exemption for VA loans: Veterans applying for a VA loan need not purchase PMI, and are eligible to receive a 100% loan as well.

Today the tradeoff between putting less than 20% down on a home loan and purchasing PMI is virtually unavoidable.

You can get creative with loan products sometimes, though—by applying for an 80% loan, you can add a second mortgage to cover another 10%  and round up the rest through other means. There was a time when this mixing of products was fairly commonplace. Today the tradeoff between putting less than 20% down and purchasing PMI is virtually unavoidable.

But you’re not necessarily on the hook for long—once the loan is down to 80% of your home’s value, you can cancel this insurance altogether. Say you have a $200,000 home and the loan’s balance is $160,000. This means the loan accounts for 80% of your property’s value and, because of this, you’re now able to contact your lender and make a request to terminate your PMI policy.

The lender will send an appraiser out to confirm and, upon confirmation, they’ll remove that payment from the larger mortgage payment.

At any time, if you’d like to know your home’s value in today’s market, don’t hesitate to send me an email at Charlotte@CharlotteMabryTeam.com and I can give you a quick update. I’d be more than delighted to do so!
No comments :
Labels:
Location: Chattanooga, TN, USA

Why You Should Sell Your Home in 2019


If you’ve been thinking of selling your home, 2019 might be the perfect time. Here are three reasons why.

Why should you consider selling your home in 2019? There are several reasons why:

1. Lots of millennial buyers are entering the market right now. If your home is in the $150,000 to $200,000 price range, there are a ton of educated, pre-approved buyers out there ready to buy your home.

2. Interest rates are still low. People haven't been too scared off by interest rates creeping up a little because they’ve been low for so long and are still low, relatively speaking.

Home prices remain strong.

3. Your home’s value is at its highest level in a long time. Home prices remain strong and there couldn’t be a more perfect time to sell.

I’m beginning to hear that the year 2020 might be a little more risky to sell your home in. There’s talk of a recession. I don’t have a crystal ball, but I do know that this market, the 2019 real estate market, is a fantastic one to sell your home in. If you have any other questions for me in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.
No comments :
Labels:
Location: Chattanooga, TN, USA

6 Home Seller Myths You Shouldn’t Believe


There are many myths involved with home selling. Here are six that you should not believe for any reason.

Don’t pay attention to a single one of these six home selling myths:

1. You can sell your home FSBO. Yes, there are homes that successfully sell as a For Sale by Owner, but this only occurs on about 7% to 9% of attempts. Half of the people who buy these homes know the owner before purchasing. Regardless, the odds aren’t great when selling as FSBO.

2. What you need from your home should be what it’s worth. Selling a home is like selling stock. I bought IBM stock for $100 and want to sell it for $100, but the market dropped it to $50. What you need from your home won’t necessarily produce what the market will produce.

3. It’s OK to sell as is. In today’s HGTV world, you’re going to need to do some kind of updating in order to get top dollar and compete with your neighbors.

Selling a home is like selling stock: It doesn’t always go up in value.

4. Upgrades need to be drastic. This isn’t true either. Minor changes can make a major difference, and we would be happy to help you with our professional opinion.

5. Spring is the only time to sell. Trust me, any time in 2019 is a good time to sell. If you wait until April or May to list, you miss some of the best months for selling in January, February, and March.

6. Get the value of your home from online estimates. It’s a good starting point, but it’s by no means the finish line. You need to talk to a real estate professional, like the ones on our team, who will give you a better idea of what your property is worth.

If you have any questions for me in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.
No comments :
Labels:
Location: Chattanooga, TN, USA
Subscribe to: Posts ( Atom )