staging your home for sale

How Long Will It Take To Sell

How long will it take to sell a home is a key question asked by every seller during the listing presentation. The answer usually depends on price. If you price too high, not only will it take longer to sell, but you will typically get less money for the home than it is worth. Listings that languish in an overpriced status typically get “low-ball” offers from buyers. The longer on the market, the lower the offer. The old strategy of pricing high and hoping for the best typically yields the worst results.

The best strategy for pricing a property is pricing low. Not only will you sell the home in a shorter time frame, but the value pricing is likely to attract bidders who over bid the listing price or who will pad their bid with fewer contingencies. It sounds counter productive, but pricing below market attracts far more interested buyers and a higher sale price.

Regardless of your pricing strategy, you should know what to expect.

Most homes sell in 30 to 60 days.

This is followed by 60-90 days, then oddly, 120-180 days. 90-120 is awfully close behind.

Whats that Sound? How to fix house noises

Just about every home makes a little noise, but sometimes the noises are not just charming creeks, they annoy you. Rather than calling Ghost Hunters, there are a few things that you can do to make those noises go away. In fact, sometimes those noises you hear are early warnings of a big problem waiting to happen – like a backed up sewer line. If you can figure out what you are hearing, you may be able to fix it. Here are a few common sounds that homes make along with some repair suggestions.

Toilet Gurgling

Cause: This could be one of two things. First, your sewer line could be backed up. This can happen when tree roots find their way into the pipes. When you flush something that gets hung up around the roots, the pipe becomes partially blocked.A Another possibility is a worn-out toilet valve. If it is the valve, a constantly running toilet will tip you off. You will need to replace the gasket in the tank reservoir.

If you are like me, you would call a plumber. If you are a do-it-youselfer you would rent a sewer snake and try to clear the problem yourself. You can rent sewer snakes or purchase tank reservoir gaskets at most local hardware stores.

Knocking or Banging Inside Walls

Cause: This typically occurs when you turn your water faucets on or off. It is called a pressure hammer, and it happens when air pressure builds up in your water pipes, causing them to vibrate when the pressure is released.

If the pipe was not mounted properly, or it has loosened over the years, then it bangs against the stud in your wall. To fix it, you will need to open up the wall. You can either add mounting brackets to the pipe or put a sleeve over the pipe.

Humming from the Regridgerator

That noise is not likely gremlins eating your food. It is probably the compressor motor. Fridges are full of electrical devices that can cause all sorts of problems. If you refrigerator is more than 10 years old, you should consider replacing it rather than repairing it. New refrigerators are much more energy efficient. If it is a newer refrigerator, call an appliance repair specialist.

Squeaking from the Dryer

Cause: Many older dryer models have a belt that wraps around a drum. When the belt gets loose or worn, it starts to make that high pitched noise. To fix, either call an appliance specialist or open up the back of the dryer and replace the belt.

Thumping from the Washing Machine

Cause: The most likely cause of thumping is that the clothes in the washing machine are not evenly distributed. When weight builds up on one side the machine cannot keep its balance during the spin cycle. This also happens frequently when the washing machine is overloaded.

To fix this, redistribute the load or remove some of the heavy items.

Creaking Floors

Cause: Floors creak when the wood is loose. The board are moving up and down and rubbing against each other.

Sometimes you can fix this by simply putting some baby powder in the area. However, a permanent fix will require you to tighten the board by nailing, screwing, or gluing the boards. The best way to fix this without destroying the floor is from underneath. You may be able to tighten the subfloor or ad a 2X4 joist to add support.

Rattling or Whooshing Windows

Cause: When weather stripping fails on old windows, drafts happen.

To repair this, you will need to put on some new weather stripping. An alternative is to put a storm window on the outside.

Running or Hissing Faucets

Cause: If a faucet is leading enough, it can sound like its raining. If it is barely open, it can make a hissing sound, like air going through a reed.

You most likely need to replace the washer valve. Turn off the water to the sink underneath and remove the faucet. Take it with you to the hardware store to get new washers.

Chewing, Scratching, or Rustling in the ceiling or walls

Cause: Mouse, Rat, or a Bird

Animals are pretty cleaver. They have adapted quite nicely to the comfort of homes. If you hear prolonged scratching, you probably have a rodent problem. Best bet is to call a pet control specialist.

Housing advice from Moms

I love MomMoms are the greatest. Although many moms are working today, they are still run the roost at home and have the best advise when it comes to home ownership. In honor of Mothers Day, Century 21 Hometown Realty celebrates the wisdom of mothers. Here is advice that we were able to locate from Moms.

How much can you afford?

Lenders like PrimeLending, our mortgage partner play a significant role in home ownership. They will pre-qualify you for a home loan so you know how much the bank believes that you can afford. If you are pre-approved for a $300,000 loan, mom’s advise is to look at homes for $250,000.  This leaves a cushion for the unknown.

Another mom suggests buying a home as if you only have one income. Being house poor is never a great situation, especially in today’s sluggish job market. Most job seekers are in the market for 6 months today, so make sure you have some savings to manage the possibility of employment challenges.

Buy Smart!

Century 21 Hometown Realty is one of the few companies that offer consumers the ability to do deep level of research on your home purchase. Take a close look at the neighborhoods where you want to live. Give consideration to the market conditions in that neighborhood. If possible, avoid neighborhoods that have a lot of foreclosures or a lot of homes for sale – this signals a fragile marketplace where your home purchase could include a lot of downside risk.

Pick the right real estate agent and spend time with them to understand the real estate market. This is true for buyers and sellers. Take the time to look at lots of homes that are priced in your price range to understand what other buyers and sellers are looking at. Century 21 Hometown Realty agents have access to a market analytics tool called REALTORS Property Resource. Ask your agnet for an RPR report before you buy or sell a home.

Don’t Forget the Home Inspection

It really does not matter if you are buying a new home or a used home, the home inspection is really important. Ask questions about the cost of irrigation, the cost of landscaping. Find out how old the heating and ventilation is and who the service provider is. Take a close look at the roof. When was the home last painted?

Here in California, rodents and termites can do a lot of damage. Moms say that they would have delayed listing their home for sale if they had done an inspection before listing their home. Sometimes the price you list your home for does not account for repairs that are needed before the transaction closes.

Thanks Mom!

Happy Mothers Day.

View More Home Buyer Resources

View More Home Seller Resources

Aiming to sell takes focus

Aiming to SellWhen selling a home in an unfavorable market, it can be hard to face some facts. Most likely, your home will not command the price you want. It might be hard to cut your losses and move on. And you may find you have more emotional ties to selling your home than logical ones.

Such feelings are not a surprise, says retirement expert Jan Cullinane, author of “The New Retirement: The Ultimate Guide to the Rest of Your Life.” Business decisions often are more emotional than we realize. But understanding some basic theories of behavioral economics—how psychology affects economic decision-making—can help us all make better financial decisions.

“Leaving a home can be very emotional,” Cullinane says. Yet, she adds, when we need to sell a home in a down market, we need to understand the obstacles and the behavioral economic factors so we can cut the emotional ties.

“We’re much more emotional, like Homer Simpson in our thinking, rather than logical like Spock from ‘Star Trek,’” Cullinane says. “When it comes time to sell our home, it helps if we are aware of these factors and how we think.”

Being aware of the following behavioral economic concepts help with this difficult decision-making:

Status quo bias. “It’s easier to do nothing than to do something,” Cullinane explains. People don’t want to change things unless there are compelling reasons.

Loss aversion. In this market, you may have to sell your home for less than you thought. On the flipside, when you buy your next property, you’re likely to buy it at a discount. But that doesn’t always make us happy. “We feel worse about a loss than we feel happy about a gain,” Cullinane says. Recognizing our loss aversion can help us come to terms with the loss and appreciate the gain.

Endowment effect. “We put a higher value on something we own than on something we don’t own,” Cullinane says. The endowment effect can create a roadblock when putting a home on the market. It also means that others won’t value our home the same way we do.

Anchor. We all have an “anchor”—a fixed price for which we think our home should sell—and we don’t want to sell it for less than that amount. Often, our anchor is based on what we paid for the house and what we feel it should be worth now, even if market conditions have changed dramatically. We need to get past that emotional anchor. “Let’s face it, your home is worth what someone is willing to pay for it,” Cullinane says.

Sunk costs. When we have put money into something that we can’t get back, we have a tough time cutting our costs and moving on. For instance, if you remodeled your deck, you may not be able to recoup that money when you sell. You need to realize that money is a sunk cost—it already has been spent and you won’t get it back—and move on.

If you’re retiring, or moving for other reasons, it helps to realize that your home is not worth now what it once was. Those high sales prices aren’t coming back any time soon, but you can get a good deal on a new purchase.

“Knowing that you feel worse about a loss than you feel happy about a gain—and recognizing that intellectually—goes a long way to getting over that emotional hurdle,” Cullinane says. “Knowledge is power.”

This article originally appeared on the Equifax website. http://blog.equifax.com/real-estate/when-selling-a-home-end-the-emotional-ties/

Preparing for a Home Inspection

For buyers and sellers alike, home inspections are a crucial part of the home-buying and -selling process. While setting up a home inspection once you have an offer on your home is an important piece of the puzzle, taking the time to prepare for the inspection can be just as essential. Home sellers who take the time to get ready for the inspection will pave the way for a smoother inspection and, therefore, a smoother transaction. The good news is that preparing your home for inspection doesn’t have to cost a lot of money, as the items that need to be addressed are things that homeowners typically take care of on a recurring basis.

Preparing for a home inspection doesn’t have to be a huge expenditure.  The most important thing to keep in mind is timing.  Taking the time to prepare your home for inspection is crucial for sellers who have an offer on their home, as this signals a pending home inspection, so they know the buyer and inspector are coming to the home.  Once the inspection is scheduled, sellers should plan to spend the week before the appointment getting the home ready.

The home is examined from top to bottom, both inside and out. While the inspector will look at and evaluate more than 1,600 items inside and outside the home, including its systems and structural components, there are numerous small things the seller can do beforehand to make the job easier on everyone involved. The most important items that should be addressed prior to the inspection include:

• Clearing all walkways of debris and obstacles so the inspector can easily move around.
• Providing clear access to the attic hatch, which is oftentimes in a closet, so be sure to clear shelves, etc.
• Replacing dirty furnace filters.
• Making sure all lights and receptacles are operational. This includes changing any burnt-out light bulbs.
• Clearing a path in the basement, whether it’s finished or not, so the inspector can walk around the perimeter of the wall.
• Making sure there is access to any mechanicals, such as the furnace, air conditioner and water heater.

Taking care of the little things, like changing burnt-out light bulbs, is a simple and inexpensive way to eliminate any big suspicions that are totally unnecessary. In addition, paying attention to the items above will enable the inspector to access every part of the home that needs to be addressed in order to thoroughly inspect a home and see if there are any issues that need to be taken care of.

Sellers should also consider printing out paperwork that documents any recent service in order to eliminate any mechanical issues.

As we continue to adapt to the “new normal” and make our way through today’s challenging market, home inspections are becoming more prevalent, whether they’re performed once a potential buyer has made an offer on the home or to lay the groundwork for future negotiations before the home is even listed.

No matter what the economy and housing market look like, there is always a sense of worry among potential buyers in regard to what will be found during the inspection.  However, a little preparation goes a long way toward eliminating that worry from the equation entirely.

Not only will taking the time to prepare your home for an inspection be worth it in the long run, it will give buyers peace of mind while eliminating doubt and suspect.  If a home inspector isn’t able to access a specific area of the home, they’ll have to put a question mark on the inspection report, which causes suspicion in the buyer’s mind; and nine times out of 10, there’s nothing wrong. 

Simple Tips to Increase Your Central Coast Curb Appeal

Have you been wanting to change the look of your house but aren’t sure what you can do to increase your curb appeal? Handyman Connection, one of the largest networks of home repair and remodeling contractors in North America, has released a few home improvement ideas to help you enhance the street view of your home.
The front door is the gateway to your home and can often be an easy and inexpensive way to add a different dimension to your home’s curb appeal. You can paint your door a different color to accent the exterior paint on your house or you can get an entirely new door. Pick a color that stands out from the rest of your house but a color that also meshes well with the rest of your color scheme.

Painting or re-painting your house is a great way to drastically alter your home’s curb appeal and it may be the perfect option if you want to give your house a brand new look. Give your exterior walls some flair by picking a color different than what was previously on your house and accentuate it by finding a nice color for the trim as well. Don’t wait too long to paint your house because that could make the job much more difficult; you should paint before the previous coat begins to show signs of wear and tear.

Fencing around your yard is a great way to increase your home’s appeal. A small white-picket fence is a simple way to give your house a nice, cozy look. Putting up a fence on the sides of your yard is a practical way to increase your privacy and your curb appeal at the same time.

Adding a deck or a wing to your deck could be perfect if you like to spend time outside and also want to increase your home’s curb appeal. Adding a wing to your deck is easier than enlarging it and gives you two areas to gather instead of one. Painting or staining your deck is crucial to adding the curb appeal you seek, so dedicate a weekend or two every other year where you or a professional handyman can make your deck look good as new.

We’ve Joined Forces with

Century 21
Masters