Articles Tagged "Home Sellers"

While it's true that the housing market has cooled somewhat, there is still time to take advantage of the increased value of your home if you plan to sell. But before you set an asking price, our real estate agents want to help you maximize your profits by considering the hidden costs associated with the sale. Here are a few expenses they consider to be some of the most critical:

• Identify problems that could derail the sale.
  A pre-inspection will help you make any necessary repairs before the house is on the market. You can expect to spend a few hundred dollars for a professional inspection, but you won't need to worry about surprises that could delay or prevent closing the sale.
  
  
• Make necessary repairs.
  Lenders will only approve a loan if the property is a sound investment, which means they expect it to be in good repair. You should make most repairs before you attempt to sell the home. Sometimes the cost can be split between the buyer and seller. They will negotiate a pre-determined amount, and either can back out of the deal if cost estimates exceed that amount. 
  
  
• Verify property lines.
  Newer residential developments generally have definitive property lines, but many North Canton homes for sale are more than 40 years old, and boundaries may be questionable. You may need to pay for the property to be surveyed to assure the lender and buyer that the property lines are accurate. This service can cost anywhere from about $250 to $1,000, depending upon the size and shape of the parcel. 
  
  
• Consider possible concessions.
  Potential buyers frequently request that certain items be included in the sales price. Besides appliances, some Akron homes for sale have furnishings or unique items that the buyer feels add to their love of the house. The buyer may ask that the seller pay a portion of the closing costs. These are all open to negotiation, and it will be your option to agree or not. 
  
  
• Estimate closing costs.
  Several fees will be split between the buyer and seller at closing. These include loan processing fees, title insurance costs, property tax, and recording fees. The seller's portion will be deducted from the proceeds when the sale closes. 
  
  
• Cost of vacancy
  If the house is unoccupied while on the market, you must maintain the property in good order, from mowing the lawn to post-weather cleanup. You may also benefit by purchasing a special insurance policy for a vacant house that will protect you from the cost of any vandalism while the house is empty. 
  
  
• Pay off the existing mortgage.
  Your lender will work with your real estate agent and the closing company to provide an accurate pay-off amount so that when you receive the sale's proceeds, your mortgage balance will already be deducted. Your agent will provide you with an estimate of the total amount you will receive. 

As you can see, your real estate agent will play an important role in helping you manage the sale and guiding you through the process. Contact us today to find an experienced professional that you can trust.

While the hot seller's market of the last few months has begun to cool down, there are still many people out there looking for North Canton homes for sale or Akron homes for sale. Today's Ohio homeowners easily benefit from the great interest in the local area and meet qualified buyers.

Our real estate agents know you want to get the most value for your home and finish the sales process as quickly as possible. In fact, it's usually for the best when the sale is complete within 30 days. After the 60-day mark, buyers may wonder if something is wrong with the home.

At 90 days, most homes need to be re-listed, which can add months to your timeline.

How can you avoid these issues? To get the results you want, it's crucial not to go it alone.

Many homeowners have been exploring "FSBO" – for sale by owner, the name given to selling without a real estate agent. They may feel that they'll make more money without paying a commission, but the situation is a little more complex than it looks at first.

Selling without an agent can cost you both time and money. On the other hand, the insights of an experienced agent help you maximize your returns, no matter what the housing market looks like.

Let's dive deeper and see how sellers like you benefit from working with an agent:

• An Agent Attracts More Offers for Your Home
  One of your agent's biggest roles is managing your home's marketing. Agents work hard to publicize your home and keep you in the loop about what's been done on your behalf. They'll lead in developing your listing, open house events, virtual tours, staging, and much more.
  
  
• An Agent Is Your Interface to Buyers
  Any time a home goes on sale, some people will only show up out of curiosity. Your agent helps separate serious and qualified buyers from the rest,  saving dozens of hours you would otherwise spend having conversations that might not go anywhere.
  
  
• An Agent Helps You Price Your Home to Sell
  For the best results, pricing any home needs to be done scientifically. A "priced-to-sell" home is aligned with recent sales of similar homes in the same area. Your agent will do all the research to find a price point that meets your needs while still being enticing enough to draw people to the property.
  
  
• An Agent Helps You Avoid Legal Liabilities
  One detail many buyers and sellers alike aren't aware of is the way an agent protects you from serious paperwork errors. A small oversight in how you describe your home or the forms required for closing can leave you vulnerable to fines, legal problems, and much more.
  
  
• An Agent Helps You Negotiate
  A "bidding war" is the dream scenario for many sellers—it means you have plenty of buyers engaged and interested. But that doesn't mean you simply sit back and watch the sparks fly. Whether you need to consider multiple bids or make a counter-offer, an agent's expertise is invaluable.
  
  
• An Agent Supports You in Informed Decision-Making
  During the selling process, emotions can run high for parties on both sides of the transaction. Your real estate agent is an ally who brings a useful outside perspective to every major question. This has helped countless sellers throughout Ohio make decisions they feel truly confident about.

Contact us at DeHoff Realtors to learn more about your selling opportunities.

Our real estate agents know it's never too early to get your home ready for market. If your plans for 2022 include moving to a new home in the spring, now is the right time to put a plan together so that your home is ready to go when you're ready to make your move. You can take the following steps now to ensure the process isn't overwhelming later.

• Go Easy On the Cosmetic Upgrades
  It's a seller's market, so you don't have to spend a lot of money to attract an offer. While you can still paint the walls of the main living areas and bedrooms a neutral color, you can skip the installation of pricey appliances, new windows, etc.

• ...But Clean Thoroughly
  While you don't have to undertake any major renovations, you will want to give the home a professional cleaning. Have the carpets steam cleaned, scrub bathrooms and kitchens, clean out the garage, and make sure the windows are crystal clear. It's also a good idea to make sure the air within the home is regularly refreshed.

• Start Packing Up Personal Items
  Before you paint, pack up any family pictures and bric-a-brac cluttering your home. This will declutter the home and help personalize it, making it easier for prospective buyers to imagine their photos and artwork on the walls. Further, declutter the closets, basement, garage, etc., by removing their contents and placing them in your new home or a self-storage facility. This has the added benefit of helping buyers get a true feel for how much storage space is in the home.

• Keep An Active Eye On Property You Want to Purchase
  Start looking at new homes well before you are ready to list your home. If you are financially able to purchase a home you are interested in before your current home sells, do so. This will help ease some pressure and give you the flexibility to wait for the best offer.

• Price Your Home Strategically
  The more time you spend looking at listings in the area, the better feel you will have for what your home is worth. Keep a close eye on similar North Canton homes for sale and Akron homes for sale. This will help you price your home to align with buyer expectations and current market conditions. Your real estate agent will also be invaluable in helping to set the right price for your home.

• Limit Access
  Supply is low, and demand is high. By limiting showings and availability to view the home, you will create a sense of exclusivity to your home. Like fine wines and fancy purses, the more exclusive the home feels, the more interested buyers will be to own it.

• Prepare For a Bidding War
  Current market activity means that you will likely receive multiple offers shortly after listing your home. Work closely with your real estate agent to map out a strategy for navigating a bidding war. Be sure to factor in price, prequalification, down payment, contingencies, concessions, etc. The more planning you put into this, the more likely you will secure the most advantageous offer.

Contact us when you are ready to prepare your home for the market. We will help guide you through the process and help you secure the best offer for your home.

From the outside, it's easy for home valuation to feel like one big mystery. Even though you might be familiar with many of the ingredients that go into a home valuation, you might be wondering how your real estate agent mixes them all together to identify the right listing price for the home. Our real estate agents are here to provide an industry perspective and help you unravel the mystery of home valuation.

• Understanding What Goes Into a Comparative Market Analysis (CMA)
  Let's say you're trying to price a home to compete with other Akron homes for sale. A CMA is one of the most important tools that your agent will use to help determine the value of the home. By comparing the home with similar properties that were part of recent real estate transactions in the same market, you can find an asking price that fits that market. A CMA takes into account homes that are currently for sale, homes that have recently sold, and homes that were listed but didn't sell. The process works best when there are more homes in your market with a similar size, amenities, and features.

• Bedrooms, Bathrooms, and Amenities
  While the size of a home is an important factor in the price, two similarly sized homes can still have very different values. The condition of the home is naturally an important factor, but so is how the space in the home is used. The number of bedrooms and bathrooms, along with garage space, are all key factors for buyers to consider. Of course, any added amenities will also influence price. A home with a swimming pool, ultra-modern kitchen, and outdoor dining space will be worth more than a similarly sized home without those features.

• Neighborhood, School District, and Local Attractions
  It's not just the amenities within the home that impact the valuation. The amenities, attractions, and characteristics of the neighborhood also play a key role. A home that is conveniently located with nearby shopping, dining, attractions, and a short commute to work will have more value than a home located in a neighborhood without all of those perks. Buyers with kids will also tend to be very interested in the quality of the local school district, and may be willing to pay a premium for homes in the best school districts.

• The Impact of Market Conditions on Home Values
  The home itself is a huge factor, but the market where that home is located can also have a significant impact on a home valuation. If you're pricing a home to compete with North Canton homes for sale, then your price needs to fit within the realities of that market. In a market where homes are selling fast and inventory is low, you may be able to ask for a higher price than in other markets.

• How Flexible Are Your as a Seller?
  Do you have the time to be patient with your home sale, or do you need to meet a specific deadline in order to move on to your next home? If a buyer makes an excellent offer but needs to complete the sale ASAP, will you be able to accommodate their needs? Your flexibility as a seller can impact the value you can expect to receive, and is especially important once you get into negotiations with a potential buyer.

When it's time to buy or sell your next home, our team is here to help you analyze the market with expert advice. Contact us to buy and sell homes throughout the Canton, OH area.

Adding storage to your home isn't limited to grabbing plastic bins and stacking them in the attic or garage. Innovative storage solutions enhance the aesthetic appeal of your home while cleaning out the junk drawer. Our real estate agents are familiar with some fun and nifty ways to add innovative storage options to your home.

• Add a loft bed.
  Loft beds are great storage solutions in small bedrooms, especially for children. Kids love sleeping in a loft bed. The loft bed allows you to keep a desk or drawer under the bed for additional storage.
  
  
• Install a variety of garage hooks.
  Plenty of North Canton homes for sale will have a garage full of opportunities to add innovative storage solutions. Garage hooks come in all shapes and sizes and can help you utilize unused vertical space. Use garage hooks to hang ladders, racks, shovels, and other large tools up and off the ground.
  
  
• Back of door storage isn't limited to shoe cubbies.
  The interior-facing side of closet doors is a great place to add storage. You can use the tried-and-true shoe racks method to store tools, spare cable wires, and other similar items. However, shoe rack hooks frequently scratch the bottom of the door frame. Rather than using this tired storage method, you can hang a pegboard to store tools and other objects.
  
  
• Stacked closet rods to maximize space.
  The closet is under-utilized in many homes. Closets usually come with a single rod that is set high in the closet. However, this style usually leaves a lot of space beneath blouses and shirts unused. You can add a stacked rod that has two levels of storage options to double capacity.
  
  
• Add a Hanging garden.
  No, not like the Hanging Gardens of Babylon, but rather plants that you stick to the wall and watch grow. Can bring your herb garden indoors to survive Ohio winters. Stick-on-wall potted plants add a calming dimension to any room and are relatively low-maintenance. You can teach your kids about responsibility by growing an indoor garden.
  
  
• Build a shed.
  Many Akron homes for sale have big backyards that are perfect for adding a storage shed. Storage sheds can hold yard maintenance tools and equipment. Store your weed whacker, leaf blower, rakes, and garbage bins. If you have kids, keep their outdoor toys in there as well.
  
  
• Get rid of faux drawers.
  Many kitchens have faux drawers, usually around the sink, to accommodate the storage underneath. Make these faux drawers useful by adding a pullout mechanism and adhering to a storage bin behind it. A pullout faux drawer can store sponges, scrubbers, and other kitchen sink tools out of sight.
  
  
• Add a skinny floor cabinet to the bathroom.
  Bathrooms are notoriously space-inefficient. The sink and toilet are rounded and oddly shaped. You can add some easy storage by putting in a skinny floor cabinet underneath the toilet paper roll. The floor cabinet can hold extra toilet paper, bathroom cleaning supplies, and other items that take up space, but you don't want to mix with your face creams and lotions.
  
  
• Turn a platform bed drawer into a doggy bed.
  Do you have a furry friend? You can keep the doggy bed in a platform bed drawer so you can slide it out of sight when needed and pull it out for bedtime.

Storage is a balance between efficiency and aesthetics. You don't want to live in a warehouse, but you also need to keep your house under control. Contact us if you would like to learn more nifty storage solutions for your home.

Winter is typically a slow season for real estate transactions. With the holidays, family gatherings, and cold weather, the housing market usually plunges into hibernation, with sellers and buyers putting their real estate plans on hold until spring. However, this year's winter real estate market is shaping up to be different from what we're used to. The coronavirus pandemic saw the housing market grind to a near halt. But with the economy recovering, the 2020 holiday season could be an excellent time to sell your home. Here are some of the reasons why our real estate agents believe a holiday home sale could be more likely this year.

• There's Pent-Up Buyer Demand
  When states issued lockdowns and stay-at-home orders in the "silent spring" of 2020, the real estate market nearly screeched to a halt. Several months of real estate busy season were delayed. But that was temporary as buyers and sellers started hitting the market again after the lockdowns. Since then, there has been a pent-up demand to buy homes and make up for the lost time. Eager home buyers are sticking in the market much later than they usually do in the fall. If this trend continues, there will be more people looking for a home in the winter, too. This presents a great opportunity for a holiday home sale.
  
  
• People Are Looking to Upsize Their Homes
  Many people are in the market purely because they want bigger homes. With continued telecommuting and virtual schooling, many have realized that their homes are no longer big enough to accommodate all family members. And as the temperatures drop, it won't be possible to escape to the back patio or the shed for video calls. There's great emphasis on having enough space and being happy with one's home. If remote working will be the new normal even after the COVID-19 pandemic, people might realize they can buy bigger homes farther outside the cities. This is the time to add your home to the list of North Canton homes for sale on the market if you live in a remote area.
  
  
• The Number of Homes for Sale is at a Record Low
  Although there's a high demand for homes, housing inventory is lower than usual. The number of homes for sale in September declined 39% over last year. Even with some improvements seen in October and November housing inventory will still be low. This will help ensure that homes continue to sell quickly and at higher prices. Because buyers won't have an endless list of Akron homes for sale to choose from, they'll have no time to wait and talk about it. The overall advantage is with the seller.
  
  
• Sellers Stand to Make a Killing
  The high demand and low supply are bound to drive up home prices, creating an opportunity for sellers to command a higher asking price for their properties. Home values and sales prices remain strong. And since there's high buyer competition for homes that are available, a seller can get a nice, big, high-priced offer on their home. The biggest challenge is dealing with multiple offers at a go.
  
  
• Mortgage Interest Rates Are Low
  While buyers will be navigating a seller's market, it's not all bad news for them. Even with high home prices, mortgage interest rates are very low and can allow them to save a ton of money. As of October 22, the average interest rate on a 30-year fixed-rate mortgage was 2.8%. Even before the coronavirus crisis, real estate professionals and economists had predicted that mortgage interest rates would not rise above 4% in 2020. Record low-interest rates give homebuyers purchasing power and allow them to pay slightly less on their mortgage each month. Buyers who might have waited will want to start looking for a home this year.

At DeHoff Realtors, we can help you prepare your home for sale and brew up a great deal. Contact us today to get started.