By Karen Packard
I decided this month it might be fun to give you my most frequently asked questions during buyer or listing appointments and my answers. I figured that if my clients are asking these questions, they might be questions other people are curious about too.
Sellers’ Questions:
- Should I put a sign out when listing my house for sale?
Absolutely! I would highly recommend putting a for sale sign up when listing your house. Yard signs are the most recognized form of local advertising. Why would you want to pass up any opportunity to show your house is for sale? When selling a property, I like to take advantage of every form of advertising including drive-by traffic. This also makes it easy for buyers to find your house by doing a “drive by.” - Is now the best time to list?
Studies show that the real estate values in our area have been climbing for the past 10 years. The market always shifts eventually. I do believe we will remain in a strong market for the near future but if you are considering listing this year, I would recommend getting your house listed sooner rather than later to take advantage of the higher values we are experiencing this year. - Should I list with a real estate agent?
Studies show that people get more money when listing with a qualified agent rather than trying to sell themselves. We are here to handle any problems that come up. We know what to anticipate and with over 200 sales in my past, I have encountered many different types of good and bad surprises in my career. Selling your home is one of the most stressful times in life, hiring the right Real Estate agent will reduce your stress because we can guide you through the process and help fix any issues that come up along the way. In addition, with our connections to local agents, marketing, and negotiation skills, you will get more money for your home than trying to sell it yourself. - Is the fact that my house is in a private setting a good thing? Will buyers pay extra for more land?
Most buyers looking in our area love a private lot with extra land. That being said, it doesn’t always add a ton of value. Each house and land is different. I can let you know how much value your land increases to your price after seeing the property. - Should I get a prelisting home inspection?
Getting a prelisting home inspection is never a bad idea. This gives you a chance to fix some of the items a buyer would find during their home inspection. As a bonus, buyers may review the home inspection that you had done and use that to move forward without getting one done themselves. - Are all real estate agents the same?
All Real Estate agents take the same required classes and pass the same test but that is where the similarities end. It is important to ask the right questions when hiring your real estate agent. Find out if they are full time or part time. Are they doing this as a second job? How long have they been licensed? How many sales have they done? In this industry many agents are part time or semi-retired. The average agent sells only eight houses per year. Many agents use their phone or own camera to take the listing photos. A professional photographer should always be used to do the listing photos. This is your most valuable asset and showing it at its best will determine how much you sell your home for. Finding an agent with the experience, local knowledge, marketing plan, and resources is key to a successful transaction and sale price. Do your research and interview more than one agent when looking to hire someone.
Buyers’ Questions:
- Is 2021 a bad time to buy a house due to the bidding wars driving prices up?
Not necessarily, I know this market is frustrating for buyers. But, the interest rates are really low right now, so in some cases, buying right now is still cheaper than renting. The bidding wars have slowed down a little from the spring so keep looking and see if you can find the right house now while interest rates are still at an all-time low. - What is the first step I should take if I am thinking of buying a home?
I like to have a buyer consultation with people thinking about buying a home as the first step. This gives me a chance to discuss the process, what your expectations are, get you set up with a lender to be preapproved and for me to have a chance to learn what your timeline and wish list is for your purchase so I can save you time and money. - Should I waive my home inspection to compete in this market?
A home inspection is an extremely important part of buying a home. Especially if you are not handy, do not have any contractor experience, or are a first-time buyer that has never maintained a home. The home inspector is trained to show you everything you need to know about your house. Many home inspectors will give you tips for maintenance as well. So, waiving this option even though it has become common this year, should be given a lot of consideration. You should have a serious talk with your real estate agent about your options including doing a home inspection for informational purposes only. This is a way to get the benefit of the inspection without giving up the opportunity to learn about the house during your inspection.
If anyone has any questions, feel free to call or text me anytime at 978-407-2568 or email [email protected].
I am always happy to answer any questions regarding buying or selling!