Welcome To Our Blog: SELLER

4 Tips to Sell Your Home Faster

 

4 Tips to Sell Your Home Faster | MyKCM
 

Since June of last year, we have seen an increase in the inventory of homes for sale month per month. Every spring and summer, the inventory increases because people want to sell their home. For those with children, they may want to be in their new home for the beginning of the school year.

If you are one of those sellers, you may find these 4 tips helpful in getting your home sold more quickly.

1. Make buyers feel at home

Declutter your home! Pack away all personal items like pictures, awards, and sentimental belongings. Make them feel like they belong in this house! According to the Profile of Home Staging by the National Association of Realtors,

“83% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.”

Not only will your house spend less time on the market, but the same report mentioned that,

“One-quarter of buyers’ agents said that staging a home increased the dollar value offered between 1 – 5%, compared to other similar homes on the market that were not staged.”

2. Keep it organized

Since you took the time to declutter, keep it organized! Before the buyers show up, pick up toys, make the bed, and put away clean dishes. It is also a good idea to put out some cookies fresh from the oven or a scented candle. Buyers will remember the smell of your home! According to the same report, the kitchen is one of the most important rooms to stage in order to attract more buyers.

3. Give buyers full access

One of the top four elements when selling your home is access! If your home is available anytime, that opens up more opportunity to find a buyer right away. Some buyers, especially those relocating, don’t have much time available. If they cannot get into the house, they will move on to the next one.

4. Price it right

As we mentioned at the beginning, more inventory coming into the market guarantees there will be some competition. You want to make sure your home is noticed. The key to selling your house in 2019 is ensuring it is Priced to Sell Immediately (PTSI). That way, your home will be seen by the greatest amount of buyers and will sell at a great price before more competition comes to market!

Bottom Line

If you want to sell your house in the least amount of time at the best price with as little hassle as possible, a local real estate professional is a useful guide. Call them today to find out what you need to do to sell your home more quickly.

5 Hacks to Pay Off Your Home Loan Sooner

5 Hacks to Pay Off Your Home Loan Sooner

 

 

Despite many financial experts advising homeowners not to pay off their home loan early but to invest the money elsewhere, home ownership is still one of the primary goals for most Americans. The obvious advice of making the largest possible deposit on your home in the beginning to reduce the size of the mortgage goes without saying. But you don’t have to get lost in the fantasy of owning the house outright when you can follow these tips which will help you make the dream a reality faster than you expected. 

1. Make Higher Repayments

Making higher repayments on your mortgage means you will save a lot of money. If you get a cheaper loan, make sure you can make extra payments and treat it as if the rate is two or three points higher. For example, if your rate is four per cent, and you pay it off as if it’s five per cent you’ll pay it off much sooner, and save heaps. If you only pay one extra monthly payment each year, you’ll pay your mortgage off 11 years sooner, and save thousands of dollars in interest. 

2. Make Fortnightly Repayments

The concept of a fortnightly repayment is simple. If your lender or mortgage deal allows it, pay half of your monthly mortgage repayments every two weeks. That adds up to 13 full monthly payments every year. Depending on your interest rate, this can mean your 30-year mortgage is paid off eight years earlier. Another way of reducing your loan period without feeling it in your pocket is to pay a few dollars a week extra into your home loan. The balance will reduce sooner because these payments come right off the balance. 

 

3. Refinance For A Shorter Term

You can refinance for a shorter term loan to pay off your mortgage sooner. If your loan is over 30 years, having it to 15 or even 10 years will make your payments higher, but you will own your home outright in a fraction of the time. But make sure you get a lower interest rate to make it worthwhile. 

4. Reconfigure Payments But Don’t Refinance

To help you reach your early pay-off goal, ask your lender to show you how much you would be paying a month at various time frames at the same interest rate. For example, if your loan is over 30 years, ask what the payment would be over 15 or 10 years, or whatever you think would better suit you. Or You could also try Bankrate’s mortgage payment calculator(1) to work it out for yourself. 

 

5. Make Lump Sum Payments

You can reduce the time it takes to pay off your mortgage by adding any extra lump-sum payments to your principal. If you have a windfall, inheritance, a tax refund or work bonus, you can use it to chip away at your loan. If you leave the extra cash in another account, you might be tempted to spend it on things you could do without. Even if your lump sum is only small, it will help you whittle away your loan, but always follow your lender’s rules for making principal-only repayments, in case you are charged a prepayment penalty for paying the mortgage off early.

 

For all your real estate needs, whether buying or renting in Deltona Florida, call 

Julie Cvercko on 386-668-8668 or email Julie@primerealestateinc.com.

 

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References: 

  1. https://www.bankrate.com/calculators/mortgages/mortgage-loan-payoff-calculator.aspx








     

    Author’s Bio 

     

    Alex Morrison has worked with a range of businesses giving him an in-depth understanding of many different industries including outdoor blinds, financial support, and health care. As the owner of Integral Media, he is now utilizing his knowledge and experience with his rapidly increasing client portfolio to help them achieve their business goals.

     

Looking to Upgrade Your Current Home? Now’s the Time to Move-Up!

Looking to Upgrade Your Current Home? Now’s the Time to Move-Up! | MyKCM
 

In every area of the country, homes that are priced at the top 25% of the price range for that area are considered to be Premium Homes. In today’s real estate market there are deals to be had at the higher end! This is great news for homeowners who want to upgrade from their current house and move-up to a premium home.

Much of the demand for housing over the past couple years has come from first-time buyers looking for their starter home, which means that many of the more expensive homes that have been listed for sale have not seen as much interest.

This mismatch in demand and inventory has created a Buyer’s Market in the luxury and premium home markets according to the ILHM’s latest Luxury Report. For the purpose of the report, a luxury home is defined as one that costs $1 million or more.

“A Buyer’s Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point.”

The authors of the report were quick to point out that the current conditions at the higher end of the market are no cause for concern,

“While luxury homes may take longer to sell than in previous years, the slower pace, increased inventory levels and larger differences between list and sold prices, represent a normalization of the market, not a downturn.”

Luxury can mean different things to different people. It could mean a secluded home with a ton of property for privacy to one person, or a penthouse in the center of it all for someone else. Knowing what characteristics you are looking for in a premium home and what luxury means to you will help your agent find your dream home.

Bottom Line

If you are debating upgrading your current house to a premium or luxury home, now is the time!

How You Can Create a Successful Vacation Rental

 

Many of us have special memories associated with vacation rentals, and owning one can be just as rewarding. It has never been easier to promote your property online, but there is more that goes into making it a success. Here is what you can do to make an impact on the market.

 

Why Prep?

 

It may be tempting to advertise as a vacation rental from the get-go, but investing your time and energy can pay dividends. By their nature, vacation homes are lucrative and can attract a broad spectrum of tenants. They can be a worthwhile income depending on the area and could contribute to retirement savings or other personal funds. In fact, expenses such as repairs and property taxes may be eligible as deductibles from the IRS. Having a rental gives you further options, as you can draw an income from it even if you ultimately plan to sell. Indeed, by making shrewd enhancements, you could appreciate your property’s valuation down the line.

 

Upgrade Features

 

As noted, vacation rentals are not exclusively about immediate benefits; there are also returns on investment that can be yielded from upgrades. You do not have to radically overhaul your property; instead, you can make cost-effective enhancements like new faucets and improved lighting. Brightening up rooms can nurture luxuriousness, and this can be a clincher when it comes to staged photographs. Of course, remodeling some rooms is a good idea, as it can offer ROI, such as installing granite surfaces and replacing a tub with a jacuzzi in your bathroom. Making upgrades can sound expensive, but the right enhancements could reward you.

 

Keep it Spotless

 

Maintaining a clean rental is a given for success, but the approach you take is flexible. You may want to delegate cleaning by hiring professionals to ready your home and restock supplies when necessary. Certain companies may engage you in the process by taking photographs and maintaining an inventory that you can go over. However, you may want to clean personally, so it’s important to have the right gear on hand, including a sturdy vacuum. A vacuum is an investment, one that needs extensive research from guides to positive and negative reviews. Whatever path you decide upon, always have spare bedding, towels, and hygiene products on hand to make preparing for new guests less onerous, and leave a lasting impression.

 

Make It Smart

 

Creating a smart home can make life easier and boost rental appeal. After all, you may not live close, but a smart home can simplify bookings and even benefit a guest’s sense of well-being. Your needs will determine what type of home security you invest in, whether that is monitored alarms or apps to track it yourself. A professional service will vary in cost, but you may prefer a subscription over an app. Smart homes offer comfort, so consider what might improve a guest’s experience. Would their stay be enhanced by an automated thermostat or a smart assistant that could smooth their transition to an unfamiliar environment? The right smart choices can make your rental appear fresh while potentially adding further value to your home.

 

Stock Up

 

A furnished property is one thing, but guests — whether families or individuals — will be most assured by the basics. Think along the lines of cupboards full of silverware and dishes, or bathrooms replete with clean towels and toiletries. When you take photographs of your rental, be sure to stage rooms so that these essentials are clearly visible. As well, mention these amenities in your descriptions as viewers will be attentive to omissions of features they could consider important. When you stock up, consider what would make your rental livable and cozy. Your home may have gorgeous surfaces and smart tech, but if it is lacking in a coffee pot or WiFi, that could take business away from you.

 

Transforming a home may sound like a herculean effort, but it doesn't have to be. Yes, you need plenty of preparation, and your property can benefit from upgrades, but there are also very clear financial benefits. This is an opportunity worth embracing.

 

The KonMari Method: Helping You Prep Your House For Sale

The KonMari Method: Helping You Prep Your House For Sale

The KonMari Method: Helping You Prep Your House For Sale | MyKCM
 

One of the biggest challenges sellers face when listing their house is decluttering. Cleaning out some of the more personal decorating choices allows buyers to imagine themselves living in the house.

Those planning to sell soon are in luck! Marie Kondo, the inventor of the KonMari Method of Tidying Up, has gained popularity with her new Netflix series. She gives some great tips for sorting through years of accumulated possessions that we all collect in our homes.

“The KonMari Method™ encourages tidying by category – not by location – beginning with clothes, then moving on to books, papers, komono (miscellaneous items), and, finally, sentimental items. Keep only those things that speak to the heart, and discard items that no longer spark joy. Thank them for their service – then let them go.”

When you subjectively look at all of your belongings, you can sort through the ones that mean the most to you. Not only will you increase space for more joy-bringing items in your new home, but you will also have a much easier time packing remaining belongings!

“Remember, tidying up isn't about getting rid of stuff. It is about creating an environment that sparks joy and improves your quality of life.”

When selling your house, first impressions matter! Before you or your agent schedule a photographer to take photos for your listing, make sure to tour your home with fresh eyes. Look for any imperfections that a buyer might notice.

When you sort through your more sentimental items, consider packing them away to ensure that you know where they all are. That way, they are safe during open houses and showing appointments. This will also cut down on the amount of packing you need to do right before you move!

Bottom Line

Whether you are selling your house to move up to a larger one, downsizing, or moving in with family, only bring the items that truly spark joy for you. This will not only help cut down on the items you move, but also ensures that you’re off to a great start in your new home!

The best reason you should sell your house this Fall…

The minute Seasons change, everyone in real estate starts justifying why “Now!” is the best time to sell your home.

And when it comes to Fall, the main reason real estate agents give is because there are usually less houses on the market to compete with. Or, the buyers in the market are more “serious”.

To me, the best reason for selling in the Fall (or any other time of year for that matter) is because you need to. If you don’t need to sell…wait. Not until Spring. Wait until you need to.

Wanting to sell your house isn’t a bad reason. However, selling a house is a pretty big decision, and too many homeowners put their homes on the market prematurely.

The problem with that?

Since they don’t “need” to sell, they often overprice their homes which leads to their listing becoming “stale”. That leads to giving buyers the impression that something must be wrong with the house…and often selling for less than the house could have.

“Need” is not always easy for a homeowner to pinpoint. Many homeowners will even say they don’t need to sell. But in my experience, if someone is even thinking about selling their house, there is usually a need. It’s just hard to put a finger on.

So, if you’ve been thinking about selling, but aren’t quite sure if you need to…

…give me a ring and I’ll help you figure out If you truly do have a need, or if it makes sense for you to wait until Spring…or the Spring after…or the Spring after that.

But if you do need to sell, the Fall is certainly a fine time to sell.

GOT QUESTIONS?

Lack of Listings Slowing Down the Market

As the real estate market continues to move down the road to a complete recovery, we see home values and home sales increasing while distressed sales (foreclosures and short sales) continue to fall to their lowest points in years. There is no doubt that the housing market will continue to strengthen throughout 2018.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory!

Here’s what a few industry experts have to say about the current inventory crisis:

Lawrence Yun, Chief Economist for the National Association of Realtors

“Inventory coming onto the market during this year’s spring buying season…was not even close to being enough to satisfy demand, that is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster – in many parts of the country.”

Sam Khater, Chief Economist for Freddie Mac

“While this spring’s sudden rise in mortgage rates [took] up a good chunk of the conversation, it’s the stubbornly low inventory levels in much of the country that are preventing sales from really taking off like they should… Most markets simply need a lot more new and existing supply to cool price growth and give buyers enough choices.”

Alexandra Lee, Housing Data Analyst for Trulia

This seasonal inventory jump wasn’t enough to offset the historical year-over-year downward trend that has continued over 14 consecutive quarters…Despite the second-quarter gain, inventory was down 5.3% from a year ago. Still, this represents an easing of the double-digit drops we’ve been seeing since the second quarter of 2017.”

Don’t Wait to Sell Your House! Buyers Are Out Now

Recently released data from the National Association of Realtors (NAR) suggests that a now is a great time to sell your home. The concept of ‘supply & demand’ reveals that the best price for an item is realized when the supply of that item is low and the demand for that item is high.

Let’s see how this applies to the current residential real estate market.

SUPPLY

It is no secret that the supply of homes for sale has been far below the number needed to sustain a normal market for over a year at this point. A normal market requires six months of housing inventory to meet the demand. The latest report from NAR revealed that there is currently only a 3.6-month supply of houses on the market.

Supply is currently very low!

DEMAND

A report that was just released tells us that demand is very strong. The most recent Foot Traffic Report (which sheds light on the number of buyers who are actually out looking at homes) disclosed that “foot traffic grew 10.5 points to 52.4 in March as the new season approaches.”

Demand is currently very high!

Bottom Line

Waiting to sell will only increase the competition between you and all of the other sellers putting their houses on the market later this summer. If you are debating whether or not to list your home, let’s get together to discuss the conditions in our market.

GOT QUESTIONS?

What affects property values?

 

 

Some the features that increase property values are obvious-like a remodeled bathroom, a modern kitchen, or a sought-after neighborhood. But here are a few features and circumstances you have not have realized can affect property values.

  1. The neighbors: Not every neighborhood or community has an HOA that can keep the neighbors from going overboard with decorations or neglecting to care for their home. Homes adjacent to crazy neighbors can potentially be undervalued.
  2. Trendy groceries and coffee: Recent statistics suggest that if your home is a short walk from popular grocery stores like Whole Foods or coffee chains like Starbucks, it can actually appreciate faster than the national average.
  3. Mature trees: A big beautiful tree in the front yard is enviable, and it's not something that can be easily added to any home. Homes with mature trees tend to get a little boost in value.
  4. Parking: This isn't too much of an issue if you live in the suburbs or in a rural area, but residents in dense cities can have real problems with parking, and homeowners might need to rent a spot just to guarantee a place to park each night. That's why having guaranteed parking in urban areas will raise property values.
  5. The front entrance: First impressions matter to buyers-many will cross a home off their list within 10 seconds of stepping through the front door. An appealing front door, a friendly entryway, and a functioning doorbell are all necessities for getting top dollar.

Setting The Price

 

The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home.

Several factors will contribute to your final decision. First, you should compare your house to others that are in the market. If you use an agent, he/she will provide you with a CMA (Comparative Market Analysis). The CMA will reflect the following:

  • houses in your price range and area that were sold within the last half-year
  • asking and selling prices of houses
  • current inventory of houses on the market
  • features of each house on the market

From the CMA, you will learn the difference between the asking price and selling price for all homes sold, the condition of the market, and other houses comparable to yours.

Also, try to find out what types of houses are selling and see if it applies to your area. Buyers follow trends, and these trends can help you set your price.

Always be realistic. Understand and set your price to reflect the current market situation.

 

GOT QUESTIONS?

Hot, Normal, And Cold Markets

Hot Market

This is an extremely competitive market and is advantageous to the seller. Sometimes, homes will sell as soon as they are listed or even before homes are listed. Typically, during a hot market, multiple offers will be made on each home and more often than not, homes will sell for more than the asking price. It is even more crucial to be prepared and to be ready as a buyer when the market is hot. It can be easy to get caught up in the bid for a home, but if you are prepared (pre-approved, solid in price range, realistic about your needs), it is easier to remain focused on your housing needs and price range.

Normal Market

In a normal market, there is a fairly large number of homes available and an average number of buyers. This market does not necessarily favor the buyer or the seller. A seller may not have as many offers on their home, but he or she may not be desperate to sell either. Again, it is the buyer’s responsibility to be prepared. During a normal market, the chances to negotiate are higher than in a hot market. As a buyer, you can expect to make offers at lower than the asking price and negotiate a price at least somewhat less than what the sellers are asking.

Cold Market

In a cold market, houses may be listed for more than a year and the prices of houses listed may drop considerably. This market is advantageous to the buyer. As a buyer, you have the time to make an offer that works to your best interest. It is not uncommon to low-ball and to find that sellers are accommodating to meet your needs. Keep in mind that even though this market is a great time for buyers, you do not want to lose your dream home by being unrealistic. Your goal is to get your dream home at the best possible price.

 

WONDERING WHAT YOUR HOME COULD BE WORTH?

For Sale By Owner - A Good Idea?

FSBO (pronounced fizz-bo), or For Sale By Owner, is a way of selling your home without the use of a professional real estate agent or broker. The idea behind FSBO is that by selling your home yourself, you save the approximate 6% that would be the agents’ commission.

6% may not sound like a lot, but it can add up, especially on more expensive homes. But before you run off and decide to sell your home FSBO, you must remember that to get a savings like that, there must be a cost. So what’s the catch? Selling FSBO is hard. A lot harder.

Only about 10% of sellers that decide to do FSBO are successful at it. And not all of them end up saving themselves money. FSBO sellers often end up accepting a lower price for their home than they would with an agent.

There are of course other issues as well. Can you afford to make selling your home your full-time job? Because for a lot of FSBO sellers, that’s exactly what it is. Do you have the time and capital to spend on the marketing, advertising, inspections, paperwork, phone calls, showings, and problems that come up when any home is sold?

Selling with a professional agent also has other advantages. An agent can get your home listed on the MLS (Multiple Listing Service) and other popular websites where not only homebuyers but also other agents can easily find it. Professional real estate agents also have an extensive network that allows them to more easily find a buyer.

So before you decide to sell your home yourself, thoughtfully consider just how much time and effort you can spare for selling your home, as well as how important it is that your home sell sooner rather than later.

GOT QUESITONS?

CLICK HERE to check the value of your home.

JULIE CVERCKO
386-668-8668
840 Deltona Blvd. St. F-1
Deltona, Florida 32725
Julie@primerealestateinc.com

Here's What Our Clients Say About Us

"Well, we sold our home here in Deltona, Fl. On the market less than 24 hours and sold it. Thanks to Prime Real Estate Inc, good folks there. They know how to get it done."  Glen Brenham
Julie and Jake were wonderful. They both went above and beyond helping me in the entire process of finding and buying my new home! Leslie Doherty
This sales associate team has the best experience and guidance to provide any home buyer. I could seriously go on and on. They are authentic. They have integrity. They approach each case covering all the bases. It has been two weeks since I moved into my home and I am still a bit reactionary yet, they have reached out to check on me. I am so grateful. They have real knowledge and experience in so many ways, other parts of the country, the market, dealing with other agents, experience with lenders; they gave me confidence. I feel they treated me with respect and whether I was a multi millionaire or the truth, a person with a tenuous credit score, they did their best for me and with me. Every home we looked at, they provided positive options to flaws or problems. They utilized every communication modality possible to assist me and get thru the whole process. They are down to earth authentic people that understood my fears and gave me time for explanations every time. I learned so much from them. Plus, they dont stop at the end of the sale! They continue to provide excellent service with contacts and advice. I am seriously very grateful. Mary Robison
Julie and Jake best team ever. They are easy-going to work with. Their genuine interest in our needs and desires made buying our property a fantastic experience. They were patient, extremely attentive,and offered sound advice during the entire process. We couldn't be happier with our new home or with the service we received from them. Isabel Candelas Sanabria
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