Pamela McArdle's Blog
When homeowners start thinking about selling, the first thing they want to know is, “How much can I sell my house for?” Your real estate agent's task is determining the fair market value with a range of prices from low to high. The spread between the two values typical is not large and only leaves a little wiggle room for the seller to negotiate.
Determining the Value
The challenge is that there is no one value for a home on the resale market. Several values go into determining the number. These can include the assessed value (what the local government taxes it on), the appraised value (what a certified and licensed appraiser determines it's worth), the market value (this can go up or down depending on supply and demand) and what the owner needs from it in order to move to the next place. Even among appraisers, the same house might have several different values depending on what that appraiser noted; although, they’re usually fairly close.
The Homeowner’s Price
When a homeowner has a price in mind that they’ll sell for, it may come from several factors:
- How much they owe on the first mortgage
- Whether or not it has a second mortgage or HELOC (home equity line of credit)
- How much they originally paid in the down payment and closing
- What they’ve spent in renovations and upgrades
How Your Agent Determines a Price
A professional real estate agent may give you an estimate of the market value of your home within a range. These numbers come from comparable residences in similar condition, homes that sold recently and the prices of homes on the agent’s MLS. Additionally, if the agent knows that a bidding war might happen, they’ll factor that into the suggested price too.
How Overpricing Could Hinder a Sale
There are several reasons that overpricing your home might hinder a sale. Here are the main ones:
- Your price puts your listing outside the search parameters of potential buyers. Even if you’re willing to negotiate and come down a ways, a buyer won’t know to ask because your home is not on their radar.
- If your home does come up in a search, it will be because the buyer is looking for homes in that price range. But if yours fails to match similar homes in their price point, yours will drop to be the last one they look at.
- An overpriced home can spend longer sitting on the market, languishing there as the MLS adds numbers to the “days on the market” category. Often, buyers assume a home sits unsold on the market because there is something wrong with the property or the seller is difficult to work with.
If you need to sell your home quickly, and for top dollar, trust your real estate professional to guide you in setting the price.
Attending an open house should be a fun, exciting experience. An open house enables you to view a residence and determine whether a home is right for you. As such, if you know what to expect from an open house, you can plan ahead and maximize the value of this event.
Preparing for an open house can be simple. Now, let's take a look at three tips to help you get ready to attend an open house.
1. Review a Home Listing
A home listing enables you to learn about a house's age, condition and other factors. Thus, you'll want to review a home listing closely to ensure it is worth your time to visit an open house.
If a home listing grabs your attention, it may be beneficial to attend an open house. That way, you can get an up-close look at a residence.
On the other hand, if a home listing fails to garner your interest, you may want to consider other residences. Because if you attend an open house for a residence that falls short of your expectations, you risk wasting precious time and resources.
2. Put Together a List of Questions
When it comes to preparing for an open house, it often helps to put together a list of questions about a residence. By doing so, you can ask pertinent questions about a home and gain the insights you need to decide whether to submit an offer.
There is no such thing as a "bad" question to ask during an open house. Therefore, you should be unafraid to ask any questions about a house when you attend this event.
Remember, the more information that you have about a home, the more likely it becomes that you can make the best-possible decision about a residence. If you ask plenty of questions during an open house, you can obtain home insights that you otherwise may struggle to receive elsewhere.
3. Consult with a Real Estate Agent
An open house may prove to be a daunting experience, particularly for those who are pursuing a home for the first time. Luckily, real estate agents are available who can help you plan ahead for any open house, at any time.
With an expert real estate agent at your side, you can get the support you need to succeed during the homebuying journey. In fact, this housing market professional will learn about your homebuying goals and ensure you can accomplish them in no time at all.
Typically, a real estate agent will keep you informed about open houses in your city or town. This housing market professional is happy to attend open houses with you and offer homebuying insights and recommendations as well.
If you want to get the most out of the homebuying journey, it pays to hire an expert real estate agent. Reach out to a local real estate agent today, and you can hire a housing market professional to guide you along the homebuying journey.
Sunrooms offer a place where you can enjoy outdoor views and sunlight without actually being outside. Whether you’re avoiding the summer heat or staying warm in winter, you can still get plenty of natural light in a comfortable environment with a sunroom. Since these are different types of sunrooms to choose from, it’s important to become familiar with what each type offers. This can help you determine which sunroom is ideal for your home.
3 Season Sunrooms
A 3 season sunroom is one that usually doesn’t have any heating or cooling from your home’s HVAC system. This type of sunroom is a suitable option if you live in a warmer climate with a low number of freezing or below freezing days. With this type of sunroom, you can get plenty of use out of it all year round. Keep in mind that you might need to use other means of heating or cooling it if needed, such as with space heaters or oscillating fans.
4 Season Sunrooms
A 4 season sunroom, also known as an all season sunroom, differs from a 3 season sunroom in terms of heating and cooling. With this kind of sunroom, you can have your home’s HVAC system supply it with cool or warm air as needed. These sunrooms also typically have insulation added for additional comfort. This setup allows you to use your 4 season sunroom all year round without having to worry about whether or not it’s warm or cool enough.
Solariums are sunrooms that feature all glass, even on the ceiling. These sunrooms typically have straight or curved panes of glass where the walls and roof meet. This type of sunroom is ideal if you want to be able to see all around you, since solariums offer optimal views of your surroundings on all sides. You’ll also be getting more sunlight overall in a solarium with its glass ceiling and full glass walls.
Conservatories are known for adding a certain historic charm to high-end homes. These luxurious sunrooms typically have segmented roofs with either glass panes or polycarbonate material, giving you the option to add more or less natural light overall depending on your preference. A conservatory is a good option when you want a sunroom with a more vintage or classic look rather than the more modern or contemporary style and appearance that solariums, 3 season sunrooms and 4 season sunrooms offer.
In most homes, the base lighting is drab and dull, often doing little to light up your life. Thankfully, it is quite easy to transform the lighting in your home and create the perfect atmosphere for your everyday activities. All you have to do is follow these four tips and watch as your efforts turn the lights up to 11 in every way possible.
Take a Cooler Turn
The reason your home’s lighting may not be knocking your socks off is its base temperature. Most homes have a rather warm light temperature of 2700K, which leaves everything looking a bit yellow. This is especially apparent as you try to take pictures inside, as they turn out washed out and grainy.
So, for a quick fix, all it takes is a switch to cooler bulbs, typically marked 3500K to 5000K. To go one step further, layer the lights in your room by using different temperature ranges and intensities, allowing you to customize the lighting to your mood and activities.
Replace Your Shades
If the light fixtures in your home are bumming you out, you may feel inspired to make a switch. Unfortunately, that step usually requires some wiring work, which could put you at risk of electric shock.
To make a big change without the risk, simply look to replace the shades instead. Using the original shade shape and size as a guide, select the colors and materials that make your heart sing to transform the lighting in an instant.
Embrace Task Lighting
Chances are that your lighting woes link directly back to not having enough light for all your tasks. Your kitchen might be too dim for cake decorating or perhaps the dining room lacks the light needed for building models.
Thankfully, fixing this problem is as easy as setting up task lighting in those key areas. You can choose from magnetic LED fixtures to articulated lamps that clip on your desk, giving yourself just enough light for every task.
Go with a Smart System
One of the biggest changes you can make is going with smart lighting systems in your home. By simply switching to smart bulbs, you can change the color and intensity as you wish, forever altering the ambiance in your living space. In fact, you can even set the changes ahead of time and ensure your lighting lives up to expectations every hour of the day.
In addition to creating the perfect atmosphere, your smart bulbs can even save you money by switching off automatically at each preset time. And since they are LED, they use 75 percent less energy than incandescent lights when you do have them turned on.
By following these four tips, your home’s lighting will be forever changed and for the better. You can continue to make adjustments as you wish to customize your living space to your needs and preferences. The sky is the limit in what you can do when you set your mind to optimizing your lighting.
If you plan to purchase a house soon, you may want to narrow your home search. In fact, there are many reasons why you should hone your house search, and these include:
1. You can seamlessly navigate the homebuying journey.
The homebuying journey may seem tough to navigate, regardless of whether you're a first-time or experienced property buyer. Thankfully, narrowing a home search enables you to speed up the process of going from homebuyer to homeowner.
Ultimately, a refined home search allows you to focus exclusively on residences in your preferred cities and towns. This will make it simple for you to find houses that fall within your price range, set up home showings to view these residences and proceed accordingly.
It also may be beneficial to craft a list of home must-haves and wants before you conduct a house search. With homebuying criteria at your disposal, you can further accelerate the homebuying journey.
2. You can act quickly to acquire your dream house.
As a homebuyer, you must be ready to pounce at the opportunity to purchase your dream house. Because if you hesitate during the homebuying journey, you may miss out on the chance to buy your ideal residence.
If you narrow your home search, you may be better equipped than other homebuyers to act quickly to submit an offer to purchase a great house at an affordable price. And if your offer to purchase is accepted, you then can move one step closer to acquiring your dream home.
3. You can avoid wasting time and resources.
When it comes to finding a home, it generally is a good idea to plan ahead as much as possible. That way, you can avoid the risk of wasting time and resources throughout the homebuying journey.
With a refined home search, you can increase the likelihood of maximizing your time and resources. A refined home search ensures you can focus solely on residences that you are sure to enjoy and avoid houses that are unlikely to match your expectations. Then, you can find your ideal home and transform your homeownership dream into a reality.
As you get ready to start a house search, you may want to collaborate with a real estate agent. By hiring a real estate agent, you can receive plenty of support as you evaluate residences.
A real estate agent understands what it takes to find a house in any city or town. He or she will learn about you and your homebuying goals and offer personalized home search tips. Plus, a real estate agent will set up home showings and keep you up to date about open house events. Perhaps most important, a real estate agent will respond to your homebuying concerns and questions and ensure you can make informed decisions at each stage of the homebuying journey.
Take the guesswork out of finding the right house at the right price – hire a real estate agent, and you can receive expert assistance as you search for your ideal residence.