The holiday season along with the winter chill is typically not the most popular time to list your home for sale. For those that decide whether by choice or urgency to be on the market there are some upsides to this.
You will have the advantage of low inventory which results in less competitive listings
Buyers that shop during this time are as serious about buying as you are about selling, they may have a home they sold or are relocating to your area
You can show off the personality of the home with glittering lights and the soothing scents of the season
You can make your visitors feel right “at home” softly playing merry music
Tasteful decorations can be as good as staging
So…….Ho Ho Ho….and if you get nifty wrap your home in a bow
That perfect light fixture set off just the look you were aiming for when you when redecorated your living room. As you are getting your home ready for the market you become reluctant to pack it up even though you have no plans of leaving it.
Now you are torn between the “staging effect” it can have on a buyer and the possibility of the light fixture becoming a negotiable item even though you state in your owners disclosure that it is not remaining and will be replaced with another fixture of the buyers choice within a stated allowance.
My suggestion is to remove it, because it may become the one item that tipped a buyer in your favor, and chances are they would have still offered to buy your home without it because the most important things like size, price and location are what they are really shopping for. Once a buyer sees it and likes it they will want it.
A stand alone lamp in the same room would be considered personal property but since the overhead light is attached by permanent wires it is considered a fixture and the buyer may assume it is included.
Both buyers and sellers alike overlook items and get surprised at a final walk though when they discover something must stay or go. Some of the most common items I have re-negotiated at a final hour of closing the sale are:
Flowers and trees
Portable appliances such as a water softeners, floor heaters , window unit air conditioner, humidifiers
Room size area rugs
Shelving units and bookcases that stand alone
Decorative light switch plates
Window treatments (blinds may stay but the curtains are removed)
Window flower boxes
Outdoor buildings (sheds)
Security systems (the owner may be obligated to a lease)
The easy solution to avoid these misunderstandings is a careful review of the checklist on a owners disclosure statement regarding the items remaining with a home. Also, a review of any exclusions on the Real Estate agents listing sheet, and always address any item of question in the purchase and sale agreement. If there is an item of personal property that works well with a home a buyer can always ask for it or purchase it from the owner and note it on a personal property agreement.
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The first thing that came to my mind when I read a post by a local real estate agent on social media saying that we were in a “hot market”, was to take my sign down. I still had a lot of packing to do. Downsizing could take a while and I can not get out that quick. Real estate markets vary by location and are driven mostly by economic factors in an area that influences supply and demand.
Here are my tips to make it easy for you to know how your area is performing and if it is the right time for you to buy or sell.
Real estate agents in your area have ready, willing and able buyers just waiting for a new listing to hit the MLS, due to very low inventory
The list price is generally the starting price and buyers bid up
Quick closings, as buyers are mortgage ready or have cash, closing within 30 days
Buyers are scouting the neighborhood and when your sign goes up they leave a note on your door with an offer
Your agent will hold a “public open house” and state a time and date that you are open to review offers
Buyers will make an offer without coming into town or viewing the home
Homes sell at list price
Prices are stable or increasing
Buyer incentives paid by the seller are added onto the list price
Seller offers few repairs only if necessary to obtain financing and may ask the buyer for a contribution
Start of the selling season, defined by your local area trends
Average days on the market are less than 60
Prices decreasing in an area
Average days on the market are more than 60
Sellers are advertising price reductions
Sellers are offering buyer incentives such as loan closing fees without increasing the price
Sellers are offering other incentives such as new appliances, repairs, and cosmetic updates
Homes are on the market at the end of a selling season, like late fall or the beginning of a school year depending on your area trends
Working with a real estate professional and having a market analysis prepared for the area you are planning to buy or sell will easily give you this information.
Happy home buying and selling 🙂 It’s a piece of cake
Real estate agents used the pyramid chart to price properties for successful sales for many years. This can be a helpful guide when selling and your property is not getting many showings, or low offers. Buyers may also use this as a guide to prepare an offer.
Either way it works….Happy home buying and selling 🙂