People approach the whole idea of owning a second home from a hundred different perspectives simply because a second home can answer so many different purposes. If you are a homeowner at the stage in …Read More →
Posts in the Category: MN Real Estate
Lately, many of my clients tell me that when looking for their next home – the lifestyle it awards them, including neighborhood area amenities, location to desired destinations, walking distance to recreation and spots of …Read More →
This year, success in selling a home in Eden Prairie will depend upon the same factors as always: location; quality; buyer appeal.
A home’s location—short of calling in the house movers—is pretty much what it …Read More →
New Housing Stats: Prices up and Transactions down across the nationRead More →
Almost everyday we hear from a consumer that they saw the value of their home on Zillow was $x –so naturally, thats what it should sell for.
Not so Fast… Zillow uses advanced algorithms to predict value, however many of the hyper local trends can affect valuation numbers. These factors are simply not able to be added in to their calculations.
Most good Realtors will be able to give you a very accurate value of your home thats going to be more reliable.
As a courtesy to the Communities we serve, we offer a quick and accurate valuation.
Top Minnesota Realtors Joe and Cindy Welu, were named to Americas Best Realtors by Real Trends Inc for the 3rd consecutive year. Real Trends compiles the most comprehensive list of Real Estate data and sales …Read More →
A major home-selling decision arrives right at the start: setting your home’s price. It’s a step that can be decisive for good or for ill.
But what is the “right” price? We know what it probably isn’t—it’s not the first number that pops into your head, nor is it likely to be The-Price-of-Your-Next-House-Plus-the Cost-of-a-Family-Vacation-in-Tahiti-Plus-the-New-Sportscar-You’ve-Always-Wanted-to-Own. It’s also not a price that will ‘test the market’ (to make sure there hasn’t been an upward spike in demand since the last comparable neighborhood home sold).
Setting a home’s price in the right ballpark can be easier than many people assume. You can get there by a number of different routes, most of them tied to recent neighborhood history:
Setting a home’s price doesn’t take place in a vacuum: first come the buyers you need to attract. If your property is priced significantly above the market, your ‘market test’ will tell you that only uninformed prospects—or no prospects—are interested in pursuing an offer. An out-of-whack asking price can also be taken as evidence that the seller (you) aren’t really interested in making a deal happen, which will make professionals less likely to present it to qualified buyers.
AIDING THE COMPETITION
By setting your home’s price significantly above the competition, you do everyone else in the neighborhood a terrific marketing favor. Even prospective buyers who appreciate your home’s innate qualities may be unable to resist what suddenly looks like a real bargain-basement buy just down the street!
APPRAISAL REALITY CHECK
Even if you do interest a willing buyer, unless he or she belongs to Warren Buffett’s country club, a likely next step will involve a mortgage lender’s appraisal. Setting a home’s price above any neighborhood comparable can mean an appraisal that comes in below the agreed-upon purchase price. Even if that doesn’t kill the sale through a loan denial, the buyer is likely to be penalized through a higher down payment or interest rate— either of which can play taps for your sale.
IT’S ONLY MONEY
Another (and perhaps the most persuasive) reason to right-price your home is monetary. History shows that overpricing generally yields proceeds that are significantly below those set more aggressively right from the start. It’s pure human nature: successive price reductions look like desperation—which invites low-ball offers or a much lower offer than you would have got.
If you are actively debating how to make the best of this spring’s selling season, give me a call. Together we can map out a strategy that works!Read More →
Cindy Welu from RE/MAX Advantage Plus stopped by KARE 11 News Saturday to share tips on how to put your best foot – and offer — forward and how to win in a seller’s market.Read More →
With spring already upon us, we stand at the threshold of Eden Prairie’s first major selling season of 2014. If you are preparing to add your own property to the Eden Prairie listing market, the International Association of Home Staging Professionals would like to draw your attention to some statistics that bolster their members’ proposition. None is more compelling than this one: non-staged homes remain 79 days longer on the market than their professionally-staged neighbors.
Still, since not everyone hires a professional staging company to work their magic, you’d think there would be a few DIY alternatives that would well worth doing. Of course, there are: and some go beyond the most well-known staging rules that are basic to any home sale:
1. De-clutter (then de-clutter again). The stagers’ single most important line item remains this: de-clutter. There is little cost to de-cluttering a home (usually no more than a storage unit’s rental). The professional insight is that once you have done it, go back through the house and do it again! That second round might only involve boxing up a few remaining personal knick-knacks, but it can also suddenly reveal items that clash with a room’s overall color palette. The Third time around, have your Eden Prairie realtor give a fresh insight into anything you may have overlooked.
2. Light(en) it up: Neutral colors are the rule for staging a home, but good light can be equally important. Make sure every room is well-lit, with clean windows, bright light bulbs (some do dim over time), and plenty of lamps or fixtures. If possible, disperse the height of lighting sources by mixing floor and table lamps, windows and overhead fixtures. Realtor Tip: Be careful not to make home appear too bland or uninteresting, just a hint of color may add a world of difference and make your home “pop”! For specific ideas, contact your professional Eden Prairie Realtor.
3. Find the focal points: The largest item in the room does not always have to be the focal item. If you have an antique chest or a captivating painting, see if you can arrange the room so that it’s the first thing your eye picks up as you enter the room. A strong focal point gives a sense of character to a room. It works to your advantage, since the focal point naturally emphasizes the strongest feature of the room.
These are approaches that do take some time and effort—but imaginative staging really does make an impact on perceived value, and, as a result, time-on-market. For more Eden Prairie home selling insights, give me a call anytime to discuss your own real estate plans! I would like to earn your trust and business as your Eden Prairie Realtor. I am the Eden Prairie Certified Community Expert and have had extensive training and experience with staging homes for my clients that result in successful sales. For more information or to contact Cindy Hanson Welu, click here.Read More →