Posts Tagged ‘home selling’

No FHA or VA financing? Recently I’ve seen several property listings state in the Broker’s remarks (area that the public can’t see) that the Sellers will not accept offers with FHA or VA financing. Do these Sellers realize that they’re possibly ruling out 95% of the market by not accepting that type of financing?

I’m shopping in a range for first-time home buyers who will typically have FHA or VA financing. I’ve explained to my Buyers that if they choose an “as-is” property, they will be responsible for whatever repairs may be required by the type of financing they choose. They understand that and we’ve steered clear of properties that will require more repairs than they can afford.

Years ago, there were more financial costs for the Seller when accepting FHA or VA financing, but those costs are truly insignificant now. Repair costs can be negotiated and the prospective appraisers are not as stringent as they once were.

Remember that FHA and VA appraisers are looking for safety and health issues. They don’t care if your dishwasher doesn’t work or your air conditioner is old – they care if the hot water heater needs to be raised or if there is chipped and peeling paint.

Come on Sellers – don’t turn away such a large portion of your potential market!

Lori is a residential Realtor with Chinowth & Cohen Realtors serving the greater Tulsa area, including midtown Tulsa, downtown, Owasso, Sand Springs, Broken Arrow, Bixby and Jenks. Visit Lori’s web site, LoriCain.com or call 918-852-5036 today!

Selling Your Home when the Inventory is High  

Don’t be discouraged – it’s possible AND probable that you can sell your home quickly and painlessly if you follow a few guidelines.

If you are interviewing more than one Realtor, seriously question the Realtor that suggests (or agrees to) the highest list price and tells you that you don’t need to do a thing to get your home ready.

I have three properties almost ready to list. Each are in a stage of painting, re-carpeting, cleaning or staging. Because the inventory of homes is high, Buyers will not give your home a chance if it doesn’t sparkle and impress them the moment they see it from the curb and entry.

Buyers today have much from which to choose and have little patience. They truly want a home that is “move-in” ready.

Clean homes sell well in Tulsa Oklahoma

And, Buyers need to see themselves living in your home. They need to see that their furniture will fit and that they will feel comfortable in your home. You love your home and the way your furniture is arranged – it suits your lifestyle and taste.

But it may not be arranged in such a way to accent your home’s best features or detract from your home’s possible flaws. Get it right before you list your property. Follow you Realtor’s advice and paint the scuffed or out-dated rooms; replace the worn or slightly stained carpet; hire a cleaning crew to clean baseboards and ceiling fans and clear the cobwebs. 

Hire a home-stager to look at your home through a Buyer’s eyes. Don’t be offended by your stager’s advice. Do you want to be comfortable in your home while it’s on the market OR do you want to SELL your home? Sometimes, even both can be achieved.

Home Staging helps Buyers see themselves living in your home!

There are three criteria to selling a home:

1. price,
2. condition and
3. aggressive marketing.

Throughout the ebbs and flow of our real estate market, these three criteria have never changed. If your property is in the best possible condition, priced correctly and marketed aggressively, it will sell.

What you DON’T want to do is put your home on the market before it is top-notch condition. The traffic you receive in the first three weeks of your listing will not return if you make improvements later – they’ve already formed an impression of your home.

And you DON’T want to over-price your home, thinking you can drop the price later.  While price reductions are sometimes inevitable, competitive and realistic pricing from day one will increase your chances of getting top dollar for your property.

In fact, overpricing your home will result in costly price reductions AND a poor impression. Today’s savvy Buyers will ask how long your home has been on the market, and the more days on market, the more vulnerable you may be perceived.

Selling Your Home when the Inventory is High

Your Realtor will study what is and is not selling in your area and paint a clear picture of estimated time to sell. You should work with your Realtor as a team to sell your home. Make sure that your Realtor is internet-savvy and will advertise your listing multiple places on the internet.

When you consider personal frustration, extended mortgage payments and utility costs, it makes sense to “get it right” before you list. Please call me if you are interested in truly SELLING your home!