Top 5 Tips to Attract the Fall Home Buyer

As any seasoned Realtor will tell you, the market tends to SLOW DOWN when the temperature drops and fall arrives.  However, you might find yourself in a situation that requires you to place your home on the market before the warm and sunny days of summer start reappearing.  Don’t let this give you the Winter time blues……..  There are some very savvy home sellers that have had great success in these cooler months!

 Because fewer people are on the market in the fall means you have less competition. Plus, people on the prowl for houses at this time of year tend to be more serious shoppers, compared to the browsers and neighborhood nosy bodies who might make a day of hitting open houses just for fun in the spring.

“People who are house hunting now are the real buyers,” says Billy Wynn, a San Fernando Valley, California, realtor. “They wouldn’t be out there if they didn’t need to be.”

Some other forces are bringing buyers out now: While it’s still tough to get a mortgage, lending standards are starting to loosen up. The average FICO credit score on conventional loans used to purchase homes in August was 727, down from 738 a year ago, according to Ellie Mae. That, combined with the exit of big investors, should bring more buyers to the market. At about 4.2 percent, mortgage rates are still relatively low.

This market is also a boon to trade-up buyers, many of whom were sidelined when the housing bust left them without enough equity to sell without bringing cash to the table. About 950,000 homeowners regained equity in the second quarter of this year, according to CoreLogic. The National Association of Realtors actually expects home sales to be stronger in the second half of this year.

For a quick sale, try these steps:

1.       Take photos ASAP, before the snow comes.
If you live in the Northeast and are thinking of listing your home in the next few months, get a few shots of the exterior now. That way, when you’re ready to list, you won’t be stuck with photos of bare trees and a lawn under several inches of snow.

In general, it’s better to list your property earlier in the fall anyway. “Thanksgiving is a dead week, and things are slower during the holidays,” says Michael Corbett, a real estate expert with Trulia. “Not only are buyers home celebrating with their families but realtors are, too.”

2.       Price your home correctly.
Yes, it’s a seller’s market right now but the pace of price increases is slowing. Bidding wars are becoming less frequent and tend to occur when homes are underpriced, realtors say. The best way to sell a home quickly is to price it correctly at listing. Otherwise it may sit on the market until you cut the price, which could push you into the competitive spring selling season with a stale listing.

3.       Keep it warm.
Have all the curtains drawn back to provide as much light into the home as possible. That, combined with a constantly open front door that lets in potential buyers, can make for a chilly house. Be sure to keep an eye on the thermostat so that the temperature remains comfortable. Even better than turning up the heat: Start a fire in your fireplace, to show off that feature, says Zillow’s real estate expert Brendon DeSimone.

4.       Go easy on the holiday decorations.
You may want to put your holiday cheer on hold this year, at least when it comes to sprucing up the homestead. Holiday decorations add clutter and religious-themed décor could turn off some buyers. A simple understated wreath or a basket of acorns and gourds is plenty. “Nobody wants to see ten inflatable ghosts on your lawn for Halloween,” says David Fogg, a real estate agent in Burbank, California.

Clear out non-holiday related clutter, too. Start now; the process can take longer than you think. Remove as many personal items as possible to make it easier for potential buyers to see themselves living there. Aim to clear away about 50 percent of your belongings. Get rid of anything you haven’t used in a year, and put extra furniture or other large items in storage.

5.      Refocus on curb appeal.
 Even in the dead of winter, curb appeal matters, though you don’t have the benefit of lush plants. It might be worth an extra coat of paint on your shutters and doors to help them pop against the bleaker winter background. Also, make sure there aren’t any newly exposed cracks or other problems that get hidden behind the foliage during the year.

Make sure your home is well-lit from the outside, too, says Lisa West, a realtor in Coronado. California. Buyers often drive by potential homes after work; since it gets dark earlier in the winter, you want them to see your house easily.

Also, consider a few minor upgrades on the inside, like new cabinet hardware or light fixtures. Small projects can freshen things up and help set your home apart. Consider getting a home inspection to make sure there are no surprises that could derail a sale.

Tatyana Sturm and The Storck Team have specialized in listing real estate in Southeast Aurora, Centennial, and Parker for 10 years.  We price it right the first time, and get our sellers an average of $5000 more than the competition by offering professional photography, video, and staging.  We believe that this should be standard, which is why we are steps ahead of the rest!  For your instant and FREE home valuation click HERE.  Call or text (720) 350-5909 to schedule your market analysis today.

Happy Home Seller in Parker, CO

Our TestimonialsWe had the great pleasure in assisting with the sale of a gorgeous home in Misty Pines of The Pinery in Parker over the summer.  Here’s what our happy seller had to say about The Storck Team!  Get it sold today with the Parker listing specialists, The Storck Team!

Tatyana was wonderful. Very responsive to our needs, sincerely appreciated our situation/target dates and timeliness. She genuinely cared. It was good to have her (and her team) handling things for us. They were all very helpful and made the process easier. We had immediate response to our listing (Tatyana was quick to get listing up and well-placed across all important sales sites), multiple showings and offers.

Tatyana Sturm

 

Tatyana Sturm and The Storck Team have been specializing in short sale and foreclosure homes in Southeast Aurora and Parker for 10 years.  We have helped hundreds of clients in their highest time of need.  If you are struggling and think foreclosure is your only option, call South Metro Denver’s leading foreclosure specialist to learn about your many options!

What Do Dates and Deadlines in Your Contract Mean for You?

As each item is referenced in the body of the contract it would be a good idea to have a copy of this page to fill out as you read through the contract.  Here is a step by step breakdown of what each date means to you as the seller, why this date might be used in your contract/situation, and most importantly help in keeping track of your dates.  Your Realtor should offer this service to you, but being proactive about the sale of your home is something that The Storck Team encourages.  Two sets of eyes are better than one!

The Item No. column can be used to refer back to this section.

Example: Regarding Section 3, Item No. 12, the Loan Objection Deadline shall be June 30, 2016.

Do not confuse the Item No. with the Section number, as they often do not align. Be specific.

The Reference column references the corresponding section of the Contract.

Item No. 1 – Alternative Earnest Money Deadline. Use this deadline if you are not (tendering) delivering the earnest money with the offer. Typically this deadline would be just a few days after offer and/or acceptance. When might this be the case?

Buyer forgot their checkbook.
Buyer needs to transfer money
You plan to fax, email or otherwise electronically deliver the offer
There are multiple offers, or the Seller is a bank, and the Buyer doesn’t want a live check “floating” around until acceptance.

Item No. 2 – Record Title Deadline. Closing/Title Companies can produce title commitments relatively quickly, but in general they appreciate 5-10 days from date of offer and/or acceptance. This deadline applies to title commitment and all recorded documents, such as covenants.

Item No. 3 – Record Title Objection Deadline. Considering that the amount of paperwork the Buyer needs to review could be quite lengthy, give 5-7 days AFTER the Title Deadline.

Item No. 4 – Off-Record Title Deadline. For simplicity sake, many Brokers make this deadline the same as the Title Deadline, even though it most likely wouldn’t take a Seller very long to disclose matters that are not recorded, such as a lease or easement.

Item No. 5 – Off-Record Title Objection Deadline. Again, to assist in keeping track of dates, many Brokers make this deadline the same as the Title Objection Deadline, even though in most cases it wouldn’t necessarily take a Buyer 5-7 days to object.

Item No. 6 – Title Resolution Deadline. This is the date by which all matters concerning title objections must be rectified by. This date can run up to the day of closing.

Item No. 7 – Right of First Refusal Deadline. Is this a built-in “24-hour first right of refusal”? No, don’t be confused by the similarity in names. This deadline applies if there is an outside entity (for example, an HOA) who retains the right to approve the Contract. Such rights would be outlined in HOA documents and could potentially expire. There are areas of Colorado that are more affected by this situation, but in general this Section most typically applies to neighborhoods governed by an HOA. When in doubt, allow 5-7 days from date of offer and/or acceptance for the Seller to investigate as necessary. Note: Putting in a short deadline with the idea of “getting it over with before anyone notices” does not work in this case. If the Right of First Refusal has not been waived in writing or expired by this deadline, the Contract terminates, as opposed to the condition just going away.

Item No. 8 – Association Documents Deadline. Keep in mind that association documents are not recorded. If the Listing Broker has made little or no effort in gathering these documents, it could take easily 7-14 days depending on the cooperation of the HOA manager. Some of our Closing/Title Companies do make an effort to assist in collecting association (or Common Interest Community) Documents, but contractually the responsibility falls on the Seller, if applicable.

Item No. 9 – Association Documents Objection Deadline. Keeping in mind that this could be a substantial amount of paperwork, and that the Buyer may wish to ask questions of the HOA, allow 5-7 days after the CIC Documents Deadline, again depending on the length of your transaction period.

Item No. 10 – Seller’s Property Disclosure Deadline. Ideally this disclosure is provided prior to the time the Buyer signs the Contract, so you may write “Completed” in this deadline box. However, if it is not immediately accessible, 3-5 days from the date of offer and/or acceptance is sufficient.

Item No. 11 – Loan Application Deadline. This deadline can vary depending on the Buyer. Sometimes Buyers have tackled the pre-approval process and have selected their lender prior to submitting the offer, in which case you could enter “Completed”. However, if the Buyer wishes to “shop” some more – or hasn’t even begun – allow 5-10 days from date of offer and/or acceptance.

Item No. 12 – Loan Objection Deadline. Depending on the length of the Contract period, this deadline should fall at least 5-7 days BEFORE Closing, in order to allow adequate time for the lender and Closing Company to finalize figures.

Item No. 13 – Buyer’s Credit Information Deadline. In the case of owner carry financing, this deadline applies to the Buyer supplying the Seller with financials, a credit report, etc. Ten to 14 days from date of offer and/or acceptance should suffice.

Item No. 14 – Disapproval of Buyer’s Credit Information Deadline. This is the Seller’s opportunity to decline the Buyer based on the information provided, so allow 3-7 days after the Buyer’s Credit Information Deadline.

Item No. 15 – Existing Loan Documents Deadline. Only applicable for assumptions, by this deadline the Seller must provide all current loan documents to the Buyer for review. From date of offer and/or acceptance, 3-5 days is adequate.

Item No. 16 – Existing Loan Documents Objection Deadline. Once the Buyer receives the Seller’s current loan information, they have the right to review the terms and object or decline. Provide 5-7 days after the Existing Loan Documents Deadline.

Item No. 17 – Loan Transfer Approval Deadline. Again applicable only for assumptions, this final deadline applies to the lender approving the assumption. Seven days prior to Closing will allow ample time for the lender and Closing Company to communicate. Remember, however, that the lender is not a party to the Contract so is not bound by the deadlines, so pay attention as to whether you must prepare an amend/extend to allow more time. If this deadline passes without lender approval, the Contract terminates. Note: Owner carry loans and assumptions can be very challenging and contain many details. If a Broker is inexperienced in these types of financing, consult your Managing Broker, seasoned mentor or attorney.

Item No. 18 – Seller or Private Financing Deadline. If any portion of the financing of a transaction will be by private or seller financing then this deadline applies. The buyer must decide by this date if the financing being offered is satisfactory. If not, the buyer may terminate the contract.

Item No. 19 – Appraisal Deadline. It may be wise to check with the lender regarding this deadline, as appraisers can sometimes become burdened and behind schedule. However, in general, this deadline should fall 3-5 days before the Loan Conditions Deadline.

Item No. 20 – Appraisal Objection Deadline. Perhaps the easiest of all objections is the appraisal objection. Either the appraisal matches the price or it doesn’t. By this deadline, the Buyer must submit in writing that the valuation is less than the purchase price. At this point, a couple of things can occur: a) the Seller can come down in price to match the valuation; b) the Buyer can bring the difference in cash or c) the Contract can terminate.

Item No. 21 – Current Survey Deadline. This deadline and Section can vary greatly based on your Buyer’s needs and the property, which will be covered in greater detail later. If the Buyer is obtaining an Improvement Location Certificate, in most cases 10-14 days from date of offer and/or acceptance should work. However, if the Buyer wishes to acquire an Improvement Survey Plat, that could take 3-4 weeks depending on the availability of the surveyor and size of the parcel.

Item No. 22 – Current Survey Objection Deadline. Once the Buyer has received a copy of the ILC, ISP or another survey provided by the Seller, the Buyer has the right to review it, which should only take 2-5 days from the Survey Deadline.

Item No. 23 – Current Survey Resolution Deadline. If the buyer and seller have not agreed in writing to any settlement of the survey objection AND the buyer does not withdraw the objection(s) in writing, then the contract terminates on this date.

Item No. 24 – Inspection Objection Deadline. It’s best if the Buyer can attend the inspection, so consult with them regarding their schedules. Most Brokers prefer to get the inspection done as quickly as possible, within reason. From the date of offer and/or acceptance, 10-15 days is usually adequate.

Item No. 25 – Inspection Resolution Deadline. This may appear to be a quick turnaround, but keep in mind that the Seller may need to obtain second opinions and/or estimates for work to be performed. Allow 3-5 days after the Inspection Objection Deadline. And remember – if a resolution is not reached on or before this deadline, the Contract automatically terminates on the Inspection Resolution Deadline.

Item No. 26 – Property Insurance Objection Deadline. This is the only condition that jumps straight to an objection deadline. Prior to this date, the Buyer must obtain as many bids as they’d like for home owner’s insurance. If the insurance does not meet their satisfaction, they must terminate in writing by this deadline. Much like the Loan Application Deadline, Buyers will vary greatly as to their progress at the time of Contract acceptance, but in general 10-15 days will suffice.

Item No. 27 – Due Diligence Documents Delivery Deadline. If there are additional documents that would aid the Buyer in their due diligence, such as determining the use of the property with zoning matters, historical value, etc., the Seller will supply those documents by this deadline. Ten to 14 days from date of offer and/or acceptance is a reasonable amount of time.

Item No. 28 – Due Diligence Documents Objection Deadline. Based on the information provided, the Buyer should be allowed 5-7 days to review and object if necessary.

Item No. 29 – Due Diligence Documents Resolution Deadline. Just like the Survey Resolution Deadline the parties must agree to a settlement of buyer objections before this date or the contract will terminate. The buyer also the right to withdraw the objections in writing.

Item No. 30 – Conditional Sale Deadline. If the buyer has a property to sell before they can complete the purchase, list that property here. If it is not sold and closed by this date the buyer may terminate this contract to buy and sell.

Item No. 31 – Closing Date. Consult the Buyer as to particular needs for this date.

Item No. 32 – Possession Date. If Possession will occur on the same date as Closing, you may enter “Date of Closing” in this box. If possession is other than the day of closing, put the specific date.

Item No. 33 – Possession Time. Again, if possession will be immediately after Closing, you may enter “Delivery of Deed”, or put a specific time. Caution: Buyers and Sellers do not always sign closing documents at the same time, which can cause confusion as to when Closing truly occurs. As always, being specific is preferred.

Item No. 34 – Acceptance Deadline Date. Considering that the Listing Broker must likely meet with the Seller to review the Contract, give an appropriate amount of time. Most commonly used is 24 – 48 hours. Remember: this deadline applies only to acceptance; if the Seller is countering, a new deadline is established on the Counterproposal.

Item No. 35 – Acceptance Deadline Time. Again, consider the timing so the Listing Broker and Seller can reasonably discuss. Is 5:00 pm a reasonable deadline?

Applicability of Terms. By inserting N/A or Deleted on any line of the Dates and Deadlines, the corresponding condition is also deleted! So make sure you mean DELETE!! If you don’t want a deadline to apply, but the Section of the Contract to apply, consider leaving the date line blank. Be cautious on Counterproposals and Amend/Extends, as the same principle applies.

Mutual Execution of this Contract, or MEC, means when both parties have signed this contract. When might it be useful to use MEC?

Bank-owned properties
Multiple Sellers
Parties that live out of town
Another common term used in the Dates and Deadlines Section is “SSA”, meaning Short Sale Acceptance. Similar in concept to MEC, using this dates protects the Buyer from being obligated to spend money on the inspection, appraisal, etc., prior to receiving acceptance from the lender regarding the Short Sale terms. Remember, however, that “SSA” is not a defined term, so you must define it in Section 29, Additional Provisions.

Stage Your Home and Profit

With the right home-staging appointments provided by The Storck Team for our Home Sellers, your “staged” home can transform an ordinary house into a buyer’s “house of dreams.”  The right staging ideas will also provide an added benefit of helping buyers see “the value in your price”, too!

What Is Staging?

‘Staging’ is to the interior of a home is what “curb appeal”, is to the exterior.  It simply causes many buyers to become emotionally attached to the house during their viewing.  Polishing and accessorizing a home is important so that your house feels similar to a builder’s model home.  In a nutshell, that’s what home staging is all about.

Is Home Staging Really That Important?

The most notable benefits of properly staged homes are the increased buyer interest in that property, and the higher level of serious prospects to buy that house.  This typically results in a much faster sale.

Staging Vs Decorating

Home staging is different than decorating, and one cannot be compared to the other.  Professional decorators attempt to satisfy a homeowner’s personal tastes.  But with staging, the seller simply attempts to create an atmosphere that stimulates strong emotions from buyers, when they enter the front door.  This leaves many buyers with lasting impressions that motivates them to want to live in your home!

Unstaged Homes & Price Reductions

For many homes that never get staged, sellers have fewer options to motivate buyers, without making unwanted price adjustments.  This is absolutely true in markets where the supply outstrips demand.

The Results Are Proven

In industry surveys of thousands of real estate agents, a majority of real estate agents confirmed that by making a nominal expense into staging a home, those sellers realized an average increase in sales price of over $5,000.  And in many of those instances, the increase in sales price was much greater than the cost of the staging.  The most important truth though is that the sellers also achieved their goals of selling quickly, and did it much sooner than their competition.

FREE Home Evaluation from The Storck Team

Denver Home Sales Climbing

 

If you are considering selling your home, the first step is to assess your home’s value.  If you want your home sold for the most money the fastest call on the local Aurora/Parker/Centennial experts The Storck Team.

Click HERE for your FREE home evaluation!


Tatyana:
Aaron: 720-273-7419
Exit Realty


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