Saturday, July 26, 2014
HOW TO SELL YOUR HOME WITHOUT DROPPING YOUR PRICE Written by Blanche Evans When your home is marked down from its original price, it’s a sure sign that your marketing plan failed. Not only have you missed the critical first two weeks when buyers and real estate professionals are most interested, but there’s no way for your home to compete with other homes that are better priced. No one wants to waste time trying to deal with an unreasonable seller, so lowering the price may not help as much as you may think. Buyers may think something is wrong with the home, or they may decide that there’s room for even more discounts. Real estate professionals won’t get excited when your agent relists your home at a lower price because it’s not a new listing. If you’re really ready to sell your home, don’t test the market. The best thing for you to do is to price it right in the first place and then sell as close to the original asking price as possible. For the best results, price your home at current fair market value -- not where prices were in 2005, or where they might be in 2015. Current fair market value means your home favorably compares to recent listings and closed sales of homes most similar to yours in size, finishes, amenities and location. It also means your home is on target with price trending. If homes are dropping in price in your area, you may want to set your original price under current fair market values in order to generate more interest from buyers. If prices are trending upward, stay current don’t price ahead. That only works in the strongest sellers’ markets when banks are more comfortable about rising prices. Next, make sure that buyers see your home in the best light. Among real estate professionals, the most important considerations is how your home looks from the curb and how it looks online. First impressions require that you spend particular time and attention on curb appeal, from keeping your walks and drives swept, to painting the front door
a fresh new color, to putting out a new welcome mat. Photography can be your home’s best selling tool when it’s done correctly and professionally. Stage the rooms that will be photographed by removing clutter. Fluff the pillows, clear tabletops and countertops, and remove the dog’s water bowl and your children’s toys out of the viewfinder. Take a few digital shots and look for flaws - the rumpled bed, the wastebasket full of paper, or the closet bulging with clothes. Once all the flaws are removed, you’re home is ready for the professional photographer who has the right lighting and equipment to help you market your home. In homeselling, less is more. You want the home to come forward and your belongings to fade to the background. If you have too much stuff, put the excess in storage. As little as $50 to $250 for shortterm storage could make the difference in the buyer’s offer price. When buyers come to your home, they will be looking for flaws, so make sure the little details are done, especially small repairs. The less that needs to be fixed or replaced, the better maintained and the more move-in ready the home appears to the buyer. Buyer-friendliness is a factor that can’t be underestimated. If you want a certain price for your home, make sure to give the buyer something extra to make it worth paying full price. Offer to pay closing costs up to a certain amount, or offer to leave the washer, dryer and refrigerator. It’s not just the home that needs to be attractive. As the seller, you’re part of the whole package. You should appear buyerfriendly, just as your home should appear move-in friendly. A home that is priced to reflect current market conditions and shows well in person and online will always sell for more than homes that aren’t maintained and marketed as well.
3
Saturday, July 26, 2014
MAKE A VIDEO THAT SELLS YOUR HOME: FOLLOW THESE TIPS Written by Phoebe Chongchua We all know that a picture is worth a thousand words and, in my opinion, a video is priceless! A real estate listing video can be a valuable tool to get your home sold quickly. But not if it’s not done properly. These days technology makes it simple for anyone to claim to be a photographer or videographer. However, as a brand journalist (someone who tells stories for companies about their products and services), I can tell you that what actually makes a video great, is the story. Even when you’re showcasing a home, there is a story that your video should be telling. It should be creating a story that will attract your type of buyer. So, number one, be sure you understand your target market. Are you targeting a family? A single person? An investor? Is this home likely to be seen as an income property? Determining who your audience is will help you tell a compelling story that makes the property desirable to that specific group. Number two, craft a strategy. As a former TV news reporter, I always carefully researched my stories. Doing your homework and studying which areas of your home should be featured in the video is just as important as my knowing which people I should interview for a news story. You can’t include every room in your home to tell the story. So, focusing on the outstanding rooms in your home and including a theme is all part of good storytelling. Don’t just hire
5
someone to come in and randomly videotape rooms. Number three, plan to make your video about 60-120 seconds. Make sure you have enough rooms ready to be videotaped so that the video doesn’t drag by staying too long on only a room or two. In news stories we often only remain on a video scene for three seconds, but you’re selling a home not reporting on a crime scene; therefore hold the shot of that beautiful master bedroom at least five seconds. Let the buyer soak it in and feel the emotion from the video. Number four, use interviews. Most listing videos I have seen don’t do this or they don’t do it well. Using well-planned interviews that are real and don’t sound “canned” can add value to the video as well as add essential information. But skip the interviews if the interviewee is simply planning to read from a sheet of paper. All too often, agents or homeowners will sound very “canned” because they’re not comfortable on camera. This is where a brand journalist (or someone who can ask questions) can help by actually interviewing either the agent or homeowner. They often will sound a lot more like they’re having an actual conversation rather than like they’re reading a script. Number five, keep it real. Feel free to show the homeowners using their own property. Maybe gardening, lounging by the pool, or in the kitchen whipping up a gourmet meal. Using these tips will help your video standout from the many listing videos that are shot quickly and without a lot of preparation. Of course, these tips will require real pros and a bit more time but you’ll end up with a listing video that tells a powerful story about your home and what makes it unique. Happy shooting!
FOLLOW the Dotted Line.
Back to School Issue...AUGUST 1
Saturday, July 26, 2014
THE DESIGNERS’ GUIDE FOR YOUR NEW BATHROOM Written by Blanche Evans
The bathroom is likely the smallest room in your house, yet it requires the most plumbing, fixtures, and lights per square foot. Bathroom remodels can be expensive, so you don’t want to make any mistakes. One of the most exciting resources for kitchen remodeling ideas is the National Kitchen and Bath Association. The NKBA’s Kitchen and Bath Planning Guidelines with Access Standards (ANSI) is a terrific checklist to make sure you get the safest, most attractive, and most accessible new bath possible. Naturally, you’ll have limitations in what you can do -space, budget, and other priorities, but with the NKBA’s guidelines, you can easily prioritize what’s most important to you and your family.
Accessibility If you don’t have a disability or injury, you may not be familiar with the concept of universal design. It simply ensures easy access for all, but that doesn’t mean your new bathroom should look like it belongs in a hospital. You can include wider doorways, roll-in showers, or door handles instead of knobs on the cabinets. The doorway into a bath is recommended to be at least 32”, depending on local codes. But if you have older household members, or if you entertain relatives or friends who use a wheelchair or walker, you may consider the Access Standard of 34”, which is large enough to accommodate a
3’-0 door. Because a bathroom space is typically tight, pay careful attention to all clearances. Could the door bang into an open cabinet door or drawer? Is there plenty of room to exit the tub without getting bruised by a cabinet edge or another fixture? Also, make sure lavatory, shower and tub handles can be easily turned without twisting the wrist or getting pinched.
Safety One of the reasons tile is so popular for baths is that it’s easy to clean. Flooring with textured or uneven surfaces such as slate also work well. Shower floors should slope toward the drain so water doesn’t accumulate underfoot. Many older baths only come with one outlet, while newer building codes may require one GFCI receptacle outlet for every six or eight feet. Consider rewiring the bath and putting outlets on every corner where you use an electric appliance, but away from showers and tubs for grooming appliances such as hairdryers, curling irons, shavers, and nail dryers. Grab bars can be placed in water closets and above tubs for greater ease in getting up and down. Try to design the bath with no steps if possible, particularly none around the tub.
Attractiveness Covering the shower walls with a waterproof material such as tile or glass is recommended, but you can also take the covering all the way to the ceiling for a luxurious look. A bath is the most important area of the house to keep clean and tidy, so include as much space as possible for storage. You’ll need space for towels, linens, grooming tools and cleaning supplies. If storage is at a premium,
think creatively. For example the space above the tank of the commode is a perfect place to build or install shelves. Just be sure to allow enough clearance for maintenance. Vessel sinks and pedestal sinks have been around a few years, but they add more drama and individuality than utility. Continuous granite or undermount porcelain sinks can be beautiful, as well as practical. The farmhouse sink is also attractive in a high-traffic bathroom. Sometimes new lighting fixtures can update a bath with very little investment. Think in terms of task lighting -lights by the vanity mirror, for example. Overhead light fixtures and ventilation fans are also useful. No matter what you choose for your new bath, if you combine utility with comfort, you can’t go wrong. Don’t try to make the bath do more than the space allows. If all you have room for is a shower, and not a tub, create a shower with a small built-in seat. Where there’s a will, there’s a solution.
7