Staging Your Home For Spring - It's Almost That Time !

It's Spring ! It may not feel like spring just yet, but mother nature will be getting with the program in the next few days bringing us some warmer weather! All those homeowners who have their homes on the market, and those who are getting ready to make their debut here are a few tips to get your home ready for the spring rush of buyers !

Update Your Pictures - If your home was listed in the winter you will want to update the pictures this way it showcases your homes spring look ! This is not only important to keep your listing from looking outdated, but if your anything like me I love my outdoor space and buyers should get the opportunity to see it too !

Create Your Outdoor Space - Having an inviting outdoor space whether it is a inviting front porch, or a great entertaining space in your backyard can really set you apart from your competition.  Here are a few quick tips for creating that space !

• Decks/Porches/Railings always look a bit nicer with a fresh coat of paint or a good power washing ! 
• Inexpensive solar lighting to help light walk-ways not only make things safer, but also gives you great curb appeal ! 
• Brightly colored potted plants add to your curb appeal, and the best part is even someone without a green thumb can maintain these with very little work ! 
• Update your outdoor furniture, if your moving into your new home and were going to upgrade this furniture this season take the time and do it now. Since it will be going with you to your new home it will help showoff what that space offer to your buyers ! 

Lighten Things Up - Many people enjoy switching out their winter attire when the spring arrives you should do the same for your home !  Many people overlook the fact that we tend to use darker heavier fabric on things like our bedding and curtains so giving your home a new "wardrobe" for the spring is a great idea ! 

• Sheer curtains will allow the extra day-light to stream into your home, which tends to also make your room look larger and more inviting.  Sheer curtains are also a great alternative for those who have large sliding doors, it allows you to keep your privacy but let the buyers see the outdoor space combined with indoor space ! 
• Removing your darker colored linens (ex:bedding, throw pillows, blankets) also work wonders for changing the feeling or the atmosphere of a room, and again these items are coming with you to your new home ! 

Give Your Home A Spring Cleaning - This is the perfect time of year to make any of those minor repairs or changes to your home, if your anything like me the last thing you want to do in the winter is pull out the paint, or spend hours cleaning when you can't open up the windows.  Any home can show a bit better with only a days worth of work ! 

• Touch up your paint - white moldings often change color a bit a fresh coat of white high gloss paint give the room a fresh/clean feel ! 
• Letting the air in is of course important so your home doesn't feel stuff, but don't forget cleaning those windows can really showcase a picture or bay window ! 
• The best part of spring is obviously the fresh air and flowers, but you want to be careful because of allergies during this time of year.  Burning a light scented candle before your home is shown is always a nice idea especially if you have pets ! 
• A fresh coat of paint on your front door, new house numbers, or replacing broken window screens is another great way to increase your curb appeal.  

If your unsure what you should be doing to stage your home for the (hopefully) nearing spring season, take the time to call your Realtor.  Many times we will see things that could be improved simply with a bit of re-arranging or much simpler fixes than you may think ! 

What To Expect At Closing

Once your closing day arrives whether you are the buyer or the seller it can be exciting and emotional experience.  This blog will help “prepare” you for what will be taking place and who you can expect to be there for the occasion.

Who Will Be Attending

• Listing Agent/ Buyers Agent – The realtors during this time are really just there to be assistant to the attorney.  Each realtor is different you may not necessarily see them until the end of the closing and in some cases the attorney will take the realtors checks if they do not attend the closing.
• Seller & Buyers Attorney – The attorneys will be reviewing all credits and debits from the utilities, taxes, and in some cases “rent” if there is not immediate occupancy.  They run through this checklist quickly and then review the numbers with you, do not feel overwhelmed you will get a closing statement at the end reviewing all the numbers again. 
• Title Company – A representative from the title company will be clarifying everything regarding title, and making sure all documents necessary are in the file.
• Bank Attorney – In addition to the buyer & sellers attorney the most important person in the room will be the bank attorney who will be the one writing the checks to all parties and who you will be signing quite a bit of paperwork for !  

         

What Do You Need To Bring With You

• Identification - Both buyers and sellers will need to bring with them 2 forms of identification with their name matching how the home will be titled.  If you will be using a maiden name rather than a married name you need to make sure you have the proper identification and visa versa. 
• Keys - Many homeowners think that bringing every single key to their home is what they bring to closing.  Most buyers will have most of the locks changed after the purchase, rather than dragging all keys and more than likely not remembering which lock they go to there is a better alternative.  I tell my sellers to bring to copies of the keys to the front door of the home, leave the other keys someplace for the buyers in the house and label which door they are for. 
• Checkbook - It is always good to bring your checkbook sometimes their will be smaller adjustments that your attorney may have overlooked.  

What Tenants Should Know & Expect During The Sale Of A Home

For many renters selling a home isn't something they need to think about, but what about when your the tenant in a property that is being sold.  Often times it is hard because you are not told what you should expect to have happen and what rights you have.  This blog will help clarify what your responsibility and rights are through-out the process.

Do You Stay Or Do You Go ? 

• If you are currently still in a lease on the property, by law you are allowed to occupy the apartment until the lease expires.  After the housing market crashed, many tenants found themselves paying rent to an owner who did not keep up with payment to the bank leaving the tenant in a home the bank would no longer allow them to live in.  This was the reason legislation was passed to protect tenants from these potential issues.  
• If you are NOT in a lease than you are not legally entitled to stay, which may not be a bad thing.  Once the potential buyer has gone to contract on the home I will normally reach out to the tenant so that both the "soon to be landlord" and tenant can meet.  Just like when you rented the apartment you may decide that it will not be the right fit for you anymore.  This will allow you time to decide without having a closing date looming in front of you.  

Showings & Open Houses:

• These 2 things will have to happen, you should discuss with your landlord having a meeting with all parties including the listing agent to set up a schedule and open communication to make sure that everyone is on the same page.  If you have a specific showing schedule that is established from the very beginning of the process it will make things much more predictable and easier to deal with.  
• Open houses are often a difficult idea for a renter, you are not given much choice on allowing people to go through your home and it may feel a bit like an invasion of privacy.  This is a risk all renters take when they move into a home that is either an investment property or in someone else's home.  That being said, the open communication and scheduling will help ease this tension - some homeowners will decide that they do not want their tenant disturbed with an open house but that is ultimately a discussion that must be decided on between landlord and tenant - the Realtor must abide by your landlord.  

Where Does Your Security Go?

• This is another important reason to meet with the soon to be landlord. If you decide that you will be staying as the tenant than your security deposit will need to be given from your original landlord to your new landlord.  
• If you will be vacating the apartment than your security deposit will legally need to be provided to you by the original landlord. If their was repairs needed than they will need to provide you with the documentation and the remainder of the security - same as if the home was still under their ownership.  

Who Works For Who ? 

• The listing agent works for the landlord, unfortunately the agent must follow the direction of the landlord in regards to showings, open houses and information provided to buyers.  Although you may want the listing agent to do things in a particular way if the agent is being directed by the landlord that is ultimately who they need to follow direction from.  
• If you feel that the process will be too much the agent can work for you as well by helping you to move out of your current location.  Their is no form of dual agency if you will be going into another rental home.  If you have decided to go into a purchase than you can still use the agent but you will want to fill out a Buyer Broker contract to keep all information about the motivation for a quick move confidential from all other sellers.  

What Sellers Should Know About Pricing

Pricing is always a very important factor when it comes to selling your home, it will usually be what makes or breaks the decision for many homeowners.  Whether you bought your home in the height of the market for top dollar or for those who have owned it for many years the realization of what your home is worth will often come as a shock to your system.  This blog explains how and why the pricing of your home is so important, and hopefully some tips to help those sellers to sell fast and for top dollar !

The Power Of Pricing 

• Many homeowners believe pricing it a bit higher will leave room for negotiations but with today's technology it will often keep the home from being shown or even seen.  There is no way for your Realtor to tell those who are browsing online that the homeowner has a large amount of negotiating they are willing to do, and with inventory still high buyers can/will bypass to the next home.  
• Market pricing, allows the home to have the average amount of showings, and than value will than be determined by the buyers.  We will always suggest paying careful attention to the feedback after ALL showings to get the buyers perception of value.  In some cases it will be helpful, and in other cases buyers will simply want to go with the lowest number possible - your agent will be the one who can make that call since he/she will have the comparable homes to show an educate both you and a potential buyer.  
• "Power Pricing" is something that Coldwell Banker Residential Brokerage has actually adapted a completely new system of advertising for.  These listings are not just priced and set up the same as the others because they are priced to sell within 30 days for ideally above the list price.  This is done simply by creating a perception of value immediately with a slight price adjustment and additional advertising - todays buyers are educated they will know a great value when they see it ! 

Broker Open Houses

• There are 2 reasons why Realtors will hold Broker Open Houses, the first of which is of course to show off the listing by letting the other Realtors preview the home in order to determine if they have a buyer for it.   Brokers in the area will want to be up to date on all listings not just those in which they have listed. 
• The 2nd reason is because after we have the home listed we want an educated perception of value from the agents in the area.  The feedback of the realtor vs a buyer is priceless because their is no emotional attachment or low-balling to get a good price it is simply other professionals giving an opinion.  This would be similar to you interviewing 6 or 7 realtors to get the opinion on price without the never ending interview process.  

Showings & Offers 

• If your not having any showings, and your listing information is accurate and descriptive than chances are your home is overpriced.  Your listing should be giving buyers a virtual tour of everything your home has to offer, now if you are not giving much information in your listing that can also be the cause of your home not getting showings or inquiries.  The best way to avoid this situation is to look over your listing prior to it being posted on MLS and look at it from a buyers point of view.  
• If your having a lot of showings but no offers coming in than again you can attribute this many times to it being the price, BUT their are some listings that just need a particular buyer.  If your home is something "out of the ordinary" that will usually be the case.  Being in Babylon Village this can often times happen because their are a larger amount of small cottages and vacation homes that are on the market.  These homes will often spend time on the market not because they are overpriced but because it is meant for a very particular buyer.  You should always make sure that you work with a company from your area for this reason, you want a Realtor who knows your market specifically  not one whose area is towns away.  
• Low-Ball offers on a home that is obviously worth more than the buyers opinion are often a sellers nightmare.  Although most buyers are highly informed and use a Buyer Broker, it will not stop these low ball offers from coming in.  This again is why having feedback from the brokers open is so important, you will be able to be confident in not entertaining those offers because you now have multiple sources of the value of your home.  

Features VS A Value 

• Many sellers attribute their homes features and values to large increases in their homes price.  Unfortunately the bank might not see those in the same monetary amount as you may think.  There is an entire blog outlining what you can expect for the bank to allow you to use to up the price of your home HERE.  
• Always keep in mind when it comes to features and values that it is really buyer dependent.  The homeowner might see their pool as a feature, but buyers might not see it that way - luckily things like pools are something that the bank will allow an increase in price but what about when it is something that they might not ? There are times when a homeowner will do things to their home not because it raises the value but because it is their personal taste - the best way to tell if you are adding value or just over-investing is by scoping out your neighborhood.  If you see that all of your neighbors have done updated siding rather than leaving the original shingles than it is safe to say it will be a good value to add to your home as well.  

Garage Sales Made Easy !

Real estate agents often talk to homeowners about clearing out some of their belongings from their home before putting it on the market, and many people will decide to try the yard sale route.  This sometimes works great, but alot of people who decide to go that route are often disappointed by the outcome selling things for $1 or $2 after spending the better part of their day pulling things out than having to put it back into their house.  Some homeowners, including myself don't even get to that point I've been planning my garage sale for the past 5 years !

Trust me I can understand why it is such a daunting task, and because of some much needed renovations to my home and a "suggestion" from my contractor I was put in a position that either A. this garage sale I'd been planning needed to happen or B. My garbage men and neighbors were about to hit the jackpot!

I still couldn't see myself spending a week pulling everything I didn't want out to get prepared for the garage sale, and than spend an entire day trying to sell it with my son underfoot. I looked into the Ebay store route but it still involved packing it all up in my car and taking it to the store for them to sell it.  Even doing normal Ebay, than I would be going out and having to ship and weigh everything and than pay for it to be advertised on the site whether it sold or not.

After a bit of brainstorming, I realized that I could have a "Virtual Garage Sale" with a little bit of help of Facebook, Craigslist, & EBay.  It would be a garage sale everyday for as long as I wanted, plus it would cost me minimal time and effort plus I would sell alot more in 3 months than doing a 1 day garage sale.

Here are the steps to making your "Virtual Garage Sale" successful !

•  The first step is of course deciding where your storage area for your items will be.  If your like me there is not 1 area of the house to put everything you don't want or need anymore and be able to navigate thru it on a daily basis, I unfortunately do not have a basement.  If you are lucky enough to have one than that will usually make your life a bit easier.  I borrowed some fold out tables from friends and families and decided to set shop up in my garage lining the garage walls with the tables.  
• The next step is deciding what you are going to sell in order to make the most of your time, you don't necessarily want to put 50 different items online because maintaining the ad can become time consuming and you will stop keeping up with it because it will become tiresome.   Instead you will want to consider starting with something like 10 ads with 3 or 4 different categories, or think about grouping them so they cross advertise one another.   If your selling things like DVD's your best bet will be to sell them in bulk, putting up the full list of what you have available and sell them in lots of 5 letting the buyers choose which 5.       
• You will want to decide what the best kind of site you want to advertise on.  An Online Ebay Store was a bit much for me to undertake, so I opted for the Craigslist route.    When you use Ebay you will need to decide if you want someone to be able bid or buy immediately with their Buy It Now feature, you will also need to set up a PayPal Account in order to receive payment.  Ebay also allow you to re-list without having to redo the entire ad week after week, but they do charge you to advertise on their website whether the items sells or not. 
• Another option is Craigslist, which is the route which I chose because I was more comfortable not having to be responsibility of making sure the items got delivered.  The upside to Craigslist is the fact that you are not charged per ad, but the downside is you will get quite a few bogus buyers who have no intention of buying.  This site also allows you to simple renew your ad with one simple click, bringing you back up to the top of the list.  
• You will want to share what your selling, you never know who knows someone looking for items for cheap.  I created an entire facebook album where I have what I am selling, and I have sold a few things to friends of friends because of it. 
• Once you have your area set up, and your ads are running you simply sit back and collect your profits ! Because your only running a handful of ads, after you have items sold simply put up whatever you would like to sell next.   

Now, there is some safety & privacy precautions you will want to take if your using Craigslist, which is usually best for large or heavy items.  

• Never believe anyone who offers you a money order because they are "out of the country" or "buying for a relative", they are scams ! 
• Never allow someone to go into your home when they come to pick up the item unless it is absolutely necessary .  
• Always have someone in the house with you, or offer to meet them in an area that you know during the daytime! 
• Do not put your actual home address in the "location" area, just put the town, and never give them your home phone number always use your cell ! 

I've been doing my Virtual Garage Sale, via CraigsList for about 2 weeks and I've sold about $200 worth of items with less than 3 hours worth of work to get it done, and the only reason it took that long was because I had alot of small items I need to sort and group before posting my ads.  I've sold things from an old microwave for $10 to $75 for a old video game system ! Happy Selling !   

Power Pricing - Why Your Home Should Be Power Priced !

The market has heated up, and with more homes coming onto the market you want to make sure your home stands out.  Sometimes even the home with the best photos, description and the easiest to show can get lost in the vast inventory that we are still carrying so what can you do so that your not lost in that shuffle.  You can power price your home, most assume that it means put your home priced lower than the rest but that isn't quite it.

Power pricing is a technique that investors have always taken advantage of, and homeowners are now catching on and with buyers as educated as they are it is the perfect time to take advantage of it ! So lets take the time and explain what it actually is !

When you list your home you will of course look at the comparable homes on the market, specifically the ones that are on the market.  You will want to look at these carefully because they are your competition and buyers will be seeing all of the available listings.  Look at their pricing and than figure 3% - 5% lower will be considered action priced.  Below is an example of three similar listings in the Deer Park area, buyers will be drawn to the home on Crossway Drive.

                          39 Crossway Drive, Deer Park                    19 Lisa Drive, Deer Park

Colonial, 3 Bed 1.5 Bath                           Colonial, 3 Bed 1.5 Bath             

Action Priced: $369,990                           Market Priced: $389,000

                     

17 Goshen St, Deer Park 

Colonial, 3 Bed 2.5 Bath 

Over Priced - $429,000

Now most homeowners say well I don't want to take that much less for my home, I would rather have it higher and leave more room for negotiation.  Well the buyer does not know that they are looking at the numbers and they are going to go where they see value ! Buyers are educated, they know a good deal when they see one and don't want to lose out on a home.  All of the homes where I have used power priced have gotten over significantly faster than other homes, normally under 30 days and have received multiple offers resulting in a bidding war or a full price offer ! 

Coldwell Banker Residential, and myself go one step farther in helping your listing stand out.  We also offer a home warranty on your home, which is a great addition when it comes to adding value because many buyers will have concerns and the home warranty gives them a built in safety net.  It has also been proved that these warranties help your home sell for more and are recommended to buyers by their own agents when comparing one home to another.  You can find out more about this warranty here The American Home Shield Warranty.

If your thinking about putting your home on the market its not too late to take part in our power pricing event .  The event is going to be held on August 16th and 17th, and all of our listings will be taking part in this event and getting maximum exposure.  If your interested in finding out about the event or what the Coldwell Banker difference is than call me or request a brochure on my site! 

Coldwell Bankers "We Believe In Opening Doors" Open House Weekend

I often write blogs about open house and what you should do to prepare, and during your open house.  This weeks blog will be a bit different because not all Real Estate agents hold open houses, but it is a very big part of selling your home because it has to do with the availability of your home.  When your meeting with listing agents you should be asking them their opinion on open houses and very specific questions.  Many times I speak with homeowners after their listing has expired and their biggest complaint has to do with the open house aspect, there are very specific questions you should be asking before you list your home regarding open houses.  

• How Often Do They Hold Open Houses: This is important this way you will have an idea of when your open houses will be and what kind of notice you will have before it is held.  

• Who Holds Their Open Houses: Many times we will have agents hold open houses for us, because we can't be at all of our listings at once.  Personally I try my best to hold them in order to make sure I get the correct feedback information for my sellers.  If this is something your not comfortable with you should be upfront with the agent, if they disagree than interview more realtors who will be willing to work with you on this.  

• What Happens During Their Open House: You will want to know what will be going on as far as advertising and showcasing your home during the open house.  I have chosen to give as much information as possible not only about my listing but also about the community.   All buyers receive a buyers folder opposed to a single hi-lite sheet.  

• When & Where Is It Advertised ? Sometimes agents will only advertise your homes open house on MLS, you want to see what additional advertising is done.  Coldwell Banker Residential Brokerage is one of the companies that opts to take out a full page ad and list all of our open houses.  

Another important part of your home being listings is about what that company does differently.  This weekend Coldwell Banker Residential Brokerage is very active within our communities.  We will be holding a huge open house event this weekend on June 21st & 22nd where all of our available homes will be open to the public.  Be sure to check the schedule to see what homes in your area will be included.  For the Full PDF Schedule Click Here. 

Tips For Staging Your Home In The Spring Season !

Spring has finally sprung, and gives sellers the opportunity to showcase your home.   Whether your home is new to the market or has already been listed, it is always important to update your home and your listing with the new season ! Here is a list of quick and inexpensive tips to make your home stand out from the rest !

Update Your Pictures

• For new listings I always recommend professional photography, they are able to do a bit of editing to make your grass greener, or even add a bit of light to a room to really showcase the space.
• If your home was listed in the winter your will want to update the pictures with the season.  This is not only important to keep your listing from looking outdated but to let buyers see your outdoor living space as well as your indoor space ! 

Create Your Outdoor Space 

• Outdoor space can be anything from a large or small area in your yard that you can use for entertaining.  Updating your outdoor furniture, if your moving into your new home is a win win because it helps showcase your space and you can take it with you to your new home. 
• Lighting can be a great way to create a feel in your yard, and simple solar lighting sold at your local store are inexpensive and very easy to install.  This is great to show small entertainment areas or gardens, also great for walkway lighting ! 
• If your like me you may not have the time or the talent for gardening, but purchasing some colorful colorful plants are easy to maintain and can brighten up any space ! 
• For those who currently have a space than a good power washing or coat of paint come the warmer weather will give your area a fresh and clean look.  

Lighten Things Up: 

• Sheer curtains will allow the extra daylight to stream into your home, which also makes your room look larger and more inviting.  Sheer curtains are also a great alternative for those who have large sliding doors, it allows your buyers to see the combined indoor and outdoor living space without losing any privacy.  
• Also changing out darker color curtains or blankets, with lighter fabrics.  Even your accessories can play a part in how someone may perceive your homes feeling to buyers.  You also may want to consider moving some of the extra items your accumulate during the winter to storage facilities or into boxes out of the way of buyers view.  

Give Your Home A Spring Cleaning

• Small touch-ups are often what makes the largest difference in a home.  Things like re-painting moldings and doors with a high gloss white can help give a room a fresh clean feel.  
• The best part of spring is obviously the fresh air and flowers, but you want to be careful because of allergies this time of year.  Burning a light scented candle before you home is always a nice idea especially if you have pets ! 
• The front of your home is your first impression so a fresh coat of paint on the front door, new house numbers, or even a good pruning of your trees or shrubs can work wonders ! 

If your unsure of what you should be doing to prepare your home for the spring season, I 

always suggest speaking with your agent.  Many times small changes or re-arranging 

some furniture can give a room an entire new look and feel !  

January's Open House Weekend !

The holiday season has passed, and buyers are beginning to plan for their open house routine to begin ! Coldwell Banker Residential Brokerage recognizes the buyers need/want to get back out their and start viewing all their "possible dream homes", and this provides a great opportunity for our sellers as well.  

The weekend of January 24th their will be a record number of open houses to kick off the start of open house season for 2014 ! This is a great opportunity for sellers to take advantage of the extra advertising exposure from prints ads to the large amount of open house signs buyers will be seeing ! Buyers will have the ability to get a look at most homes that are currently on the market, so if you have been on the fence about listing your home NOW is the time to get it listed !

This blog is going to be all about strategies to help both buyers and sellers to get the most of this open house weekend !

Sellers:

• The most important thing you can do during this open house is LEAVE, your agent will be more than capable of handling the buyers and you don't want them rushing through your home.  Almost all buyers feel as if they are "intruding" on you even during an open house.  

• You should sit down with your Realtor and have a open conversation about where your home is priced. A lot of inventory comes onto the market during the New Year so taking a look at your competition to make sure your still appropriately priced is very important.  

• Give your home a quick once over, if you have lingering holiday decorations take them down and de-clutter your space.  You will want to also make sure that you keep things as minimal as possible to make sure your home shows its best, remember many buyers may be seeing your home for the very first time and you only get one chance at a first impression.  There are additional tips for sellers which can be found HERE ! 

• Allow your realtor to serve refreshments and perhaps a snack for buyers, this will help make them slow down and relax while viewing your home since they more than likely have a full day of homes to see ! 

Buyers:

• Speak with your Buyer Broker and decide on an itinerary of homes that you are going to go and see.  There will be a lot of homes to see so you want to make sure you have a list of your "must see" homes. Just like when your out on formal showings making sure you have a good game plan this is how you will get to see the most homes.  

• Prepare yourself to remember nothing, yes I know that seems odd but when you see more than 4 or more houses you will likely begin to forget certain things.  Keep each of the highlight sheets the agents give to you, and make notes before you leave the open house so when looking back it will help jog your memory.  If you did not make an itinerary of the homes you wanted to see with your agent, than you should make sure you keep all highlight sheets so you can share with them which ones you got to see. 

• You should also prepare yourself for a potentially long day, and take the proper steps.  Remember their is a certain amount of "Open House Etiquette that you should be following when your attending these open houses.  I have written another blog about this which you can find HERE. 

This is going to be a great weekend so if your interested in learning more about this National Open House Weekend, please contact me directly ! 

How Long Should I List My Home For ?

As you will see the way to determine how long to list your home for is according to the market.  So really although it is up to you to choose, you should be sure you are basing your decision on solid facts! In today's market it takes more than listing your home on MLS get it to the closing table.  You need an agent that is actively marketing your home in all venues internet presence, direct mail and open houses are just some of what needs to be done.  For today's market you should be listing your home with an agent for atleast 180 days, with the option to be released if they are not doing all that they agreed to do to market your home.  
Coldwell Banker Residential Brokerage does offer you this gurantee, if we are not doing everything we agreed to do, we will release you from the contract with us at anytime! 

Reasons for a 30-Day Listing 

• If your market is steaming hot and homes are flying into pending status within days, your agent might be agreeable to a 30-day listing.
• This way, if every other home on your street is selling within three weeks and yours is still sitting without an offer on day 29, you can easily get rid of your agent and hire somebody else.
• Before you refuse to relist with your agent, though, first look at the price. If your price is too high, no agent is going to sell it.

Reasons for a 90-Day Listing 

• In normal markets, 90-day listings are more common.
• During the first 30 days, you should get a lot of showings if you are priced right.
• Ask your agent for buyer feedback and follow up on suggestions to improve the condition of your home and / or price.

Reasons for a 180-Day Listing 

• If the average DOM exceeds two months, you're probably trying to sell in a buyer's market and will need a longer listing term.
• If you go into contract on a 90-day listing, your listing might expire while in escrow. In that event, your agent may require that you extend the listing, so it makes more sense to start out with a 180-day listing.
• Ask your agent when you initially sign the six-month listing if the agent will give you a personal guarantee that you can cancel at the end of 90 days if you are unhappy. If the agent won't give you that guarantee, then list with an agent who has more confidence to make you that offer.

Reasons for a One-Year Listing 

• If you live out in the boondocks where nothing ever sells under one year, then a 360-day listing might be the norm in your area.
• Unique properties, large parcels and expensive estates might take longer to sell because they may appeal to a limited number of buyers.
• Private islands and lavish vacation homes require a longer marketing time, and agents might not be willing to shell out the big marketing bucks for a short-term listing.

How To Make The Sale Of Your Home As Stress Free As Possible

COLDWELL BANKER® SHOWS YOU HOW TO MAKE SURE THE YOUR HOME SELLS AT THE RIGHT PRICE

Establishing a reasonable and profitable listing price for a home is perhaps the biggest challenge for every home seller. Before coming to a final figure, many sellers ask themselves: "That home down the block went for a lot; can I just price my home in the same ballpark?" "Can I jack the price up in a hot market?" These and many other factors must be considered before settling on a listing price. The professionals at Coldwell Banker Residential Homes recommend taking the following steps before setting an asking figure.

         

Choose the Right Sales Associate 
While many people use a friend or relative's referral to select a sales associate, it is smart to interview many prospective agents. Invite several sales associates to show their listings presentations. Pay attention to how they plan to market the home, and find out the reach of their company's Web site. Also, make certain they plan to list the home on the multiple listing service (MLS) and inquire about how broad their real estate contact network is.

Do The Homework. 
Ask a real estate sales associate for a written comparative market analysis (CMA). This will provide a list of recent sales prices of similar homes in the area (with comparable numbers of bedrooms, baths, square footage and lot size), the asking prices of homes currently for sale nearby and other important information. Then a sales associate will provide a professional estimation of a legitimate selling price.

Take the Emotion Out of It 
While the seller likely has great affection for the home, the sales associate will not set the price based on the seller's emotion. Instead, he or she will evaluate the location, condition and size of the home. A house in a secluded, exclusive area may appeal to some, while others will want to be closer to schools, shopping and health care facilities. What is the physical condition of the home? Is it a fixer-upper? Does it make a good first impression (the ever important curb appeal)? Will it appeal to a growing family, or is it better suited to empty nesters?

Determine If It Is a Buyers/Sellers Market
Home inventory, mortgage interest rates and the economy play a role in determining whether the buyer or seller has a negotiating advantage. Interest rates remain at historically low levels even as the economy shows signs of improving, putting buyers in a good position to shoulder "good" debt of homeownership.

     

Do the Math 
Do not forget to figure in closing costs, legal fees and other selling expenses when determining the selling price. The sales associate should be able to provide cost estimates, and negotiate with a potential buyer to ensure a good sale price.

                                                            
Give It the Once Over
There is one more step to ensure that the house sells for your price, or more. Do as much as possible to improve the home's appearance: touch up the paint, fix leaks, seal any cracks, clean up the clutter, and eliminate pet odors. The house has only one chance to make a first impression.

What Is All That Paperwork To List Your Home !

This week I am going to write about something I don't talk about very often which is sellers who are new to the process of selling their home.  Now some of you might be thinking this doesn't apply to you but it just might so I have compiled a quick list of sellers that is a sign you should take the time to read this blog:

• You purchased your first home from a For Sale By Owner 
• You have not sold a home in the last 5 + years 
• You inherited a property or are an Executor of an estate 

One of the most important steps to selling your home is the paperwork, not only signing it but reading it and understanding it! I can't tell you how many homeowners who have not sold a home recently are very surprised by the amount of paperwork that now goes along with listing your home. 

NYS Agency Disclosure 

New York State requires that anyone who is buying/selling a home fills out the agency disclosure paper, it clearly defines who it is that the Realtor is working for.  Obviously you will sign that the agent will be working for you, but NYS has changed with the times and they now address Dual Agency before it exists.  

Dual Agency is when your agent works for both you as the seller, but also works for the buyer.  This can sometimes cause a conflict of interest, if the deal requires negotiating it can blur the lines of who your Realtor must disclose what to.  It is my recommendation that when it comes time for you to sign this piece of paper that you require if Dual Agency exists that it is Dual Agency with a designated sales person.  What this means is if a buyer walks into your home and wants to negotiate a deal that your Realtor will have an agent from their office work for this buyer rather than representing both sides of the deal.  

Multiple Listing Service Contract

This is a very important contract for you to read most Realtors will tell you it is standard and direct you straight to the bottom to sign.  They are correct when they tell you it is a standard form, but you should be reading it because this is the detailed description that will be on not only on MLS but all of the additional websites that your home will be listed on.   

You want to check certain things in particular: 

1. Taxes are correct (Ex: If your taxes are not correct you may end up with a buyer who is unable to purchase because they were mis-informed, remember pre-approvals do include the yearly taxes)
2. Make sure the number and descriptions of rooms are correct (Ex: If your kitchen is an eat in kitchen, you must make sure it is accurately inputted. These are things buyers will be placing in their search criteria and you wouldn't want a oversight to cause potential buyers to not see your home.  
3. Be sure your floor plan is accurately described (Ex: If you have an entry hall, or a laundry room you want buyers to know that because these might be important to them)
4. Utilities are described completely (Ex: Some people will have a preference when it comes to these things, again you never want to misrepresent your home, even a simple mistake can turn off a buyer) 
5. This last one may upset some Realtors, but the 2nd page of your MLS Listing agreement is where it shows what the commission will be, and where it will be going.  Remember there are 2 sides to every deal if your agent has told you that they will be taking a 6% listing because they split it equally with the buyers broker make sure that it is written that way in your contract.  

Exclusive Listing 

This is something that you may or may not see, if you are listing your home on Multiple Listing Service you should not be signing this paper unless there is a beginning and an end date filled out.  I will sometimes hold a listing as an exclusive until I have the pictures uploaded, & the virtual tour online but when I do I always write that the end date is at the homeowners request.  You might wonder why I do this, and it is just the way I run my business I want to make sure that my listing is up to not only my standard but to my sellers as well.  Once the homeowner sees the listing and approves it we than release the listing onto MLS for it's big debut !! 

Property Condition Disclosure 

The property condition disclosure is pretty much self-explanatory, it is a semi-large packet that details the history of the property.   Most Realtors, and your Real Estate Attorney will recommend that you do not fill this out. Instead you at closing you provide the buyer with the  $500 opt out credit.  The reason we recommend you do this is to simply protect yourself from future liability, even the most knowledgeable homeowner can be unaware of hidden issues in their home.  

Lead Based Paint 

If your home was built prior to 1978 than you are required to fill this out, and your Realtor is required to give the buyers a informative booklet about Lead Based Paint.  This is a common form that you, the buyers, and all Realtors involved will need to sign and is required.  If you are not sure what year your home was built it is always better to fill one out to be on the safe side.  

Seller Services Guarantee 

Unfortunately not all companies offer this, but if you are going to list your home I would recommend not signing with a company that does not provide you with one.  This is your guarantee that the Realtor will provide you with all the services he/she agreed to do in order to get your home sold.  It also gives you the ability to walk away from the contract with them if they are not providing all the services, I can't tell you how many unhappy expired clients I come across because the Realtor did not do what they had assured the client they would do, always remember that you have your guarantee and if your Realtor isn't doing the job perhaps they need to be reminded of that guarantee.  

Now, I have to take a moment to remind you that in order for you to be able to hold your Realtor accountable for the work that they are supposed to be doing, you must also do your part.  Mis-communication about the marketing plan for your home, can often cause a strained business relationship between Realtor and homeowner so you want to go over the details prior to signing anything.   

Coldwell Banker Residential Brokerage does have some additional paperwork that your average Brokerage does not have.  The reason is very simple, we are not your average company we offer additional services to our sellers that not only get their home sold but to make it a easy and enjoyable experience.

Affiliated Business Agreement

If you are one of my frequent readers than you have heard me talk about all of the additional services we are affiliated with.  For today I will not be going into the description of them, but I will link the appropriate information so you can look at the ones you may not be aware of.  Our affiliated business agreement, is to let you know the different companies and services we offer but we as agents do not profit from our buyers or sellers using them.  The reason each of these are so important to our company as a whole is the difference it makes for our clients.  

Coldwell Banker Mortgage Company

Coldwell Banker Home Warranty

Coldwell Banker Title Services & Insurance

Coldwell Banker Concierge Services

You will also receive a copy of your Comparative Market Analysis, be sure you keep this in your file for future reference.  Also make sure you keep full copies of everything that you signed, as well as additional paperwork you may sign during the time your home is listed.  Coldwell Banker Residential Brokerage, does have a system set up on a secured server that will store copies of all the paperwork you will accumulate during the transaction.  This is a great tool for someone who is on the road for work,  lives out of state, or just prefers keeping documents stored online rather than filed away.  

I hope everyone finds this blog helpful, if you have any additional questions please always feel free to comment and I will respond to your question as quickly as possible !