Tag Archive for: Home Selling

What Does “Move-In Ready” Really Mean?

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Ah, those were the good old days! When you could move right into your home, set up shop, and begin life anew. Leaving the closing table and settling into a home immediately is certainly an added bonus, especially when the new homeowner doesn’t need to tackle any significant work. Unfortunately, this isn’t an option for everyone. And quite frankly, even in years past, move-in ready living wasn’t as common as it perhaps is today. So what are the advantages of buying a move-in ready home, and what does move-in ready really mean?

Define “Move-In Ready”

Let’s look into the latter, first. In real estate, “move-in ready” refers to properties that require little to no repairs and would be classified as being in good condition. Often these homes have functioning utilities and are plugged into them. They might also have more modern touches, such as updated fixtures, appliances, and fresh paint. Essentially, the new owner wouldn’t necessarily need to undertake any work to bring the house up to snuff before occupying it. Modern homes frequently fall into this category, as they’re built or renovated to meet the needs of today’s buyers.

Is The Home You’re Considering “Move-In Ready”?

If it’s important to you, you’ll want to assess whether a home you might consider purchasing is ready for immediate occupancy. There’s a barometer of evaluations that a prospective homebuyer can utilize to gain a better sense of a home’s status. Obviously, there are a number of visual tests that someone can perform while previewing a home. First, the exterior of a property should be canvassed. Taking into account the condition of the landscaping, siding, windows, and roofing provides a sense of how the upkeep has been and when upgrades could be necessary.

Next, a buyer would want to consider not only the structure of the home as well as its exterior, but its interior health too. What shape is the flooring in? What’s the status of the major appliances? Has the home been repainted recently? Is the home relatively clean? Are there any signs of insect or pest infestation? The prospective party would also want to know if the home was updated in any way and if the security features, like smoke detectors or cameras, were installed properly and functionally. In many cases, move-in ready homes overlap with modern homes that feature sleek designs and state-of-the-art systems, providing convenience and appeal.

Finally, buyers should always request a copy of the seller’s property disclosure, if one exists. This is where they can discover what issues the seller knew about and what remedies, if any, were taken to correct them.

Advantages Of Buying “Move-In Ready”

While there could be reasons why moving on from a “move-in ready” home is the wiser choice, such as budget flexibility or making significant changes and tailoring a home to your specific tastes, it often resides with a person’s lifestyle. When financial considerations don’t hinder the home-buying process, a buyer might need to move quickly on a purchase. They might not have the time to pursue renovations because of a demanding work schedule or other commitments. Thus, the ability to immediately occupy a property is one sure advantage for buying a move-in ready home.

Another advantage of buying something that’s move-in ready is some added peace of mind. Typically, move-in ready is synonymous with well-maintained. These properties present lower risk, as hidden issues are generally less likely to rear their ugly head. Additionally, many modern homes marketed as move-in ready often feature energy-efficient systems and high-quality finishes, reducing the likelihood of costly repairs or upgrades in the near future.

A further benefit of purchasing a move-in ready property might be the new owner’s ability to refrain from either renovating areas of the home themselves or overseeing projects as they’re being performed by licensed contractors. Move-in ready homes, especially those aligned with the design and functionality of modern homes, provide buyers with convenience and a home that’s in line with current trends. Finally, a move-in ready home will appeal to a larger pool of buyers, which would be of benefit to a buyer if they needed to quickly resell a home soon after they themselves purchased it.

To Wrap Things Up

Move-in ready homes are usually modernized and align with some of the current trends in the industry, but they won’t entice everyone. Whether you’re a homeowner potentially looking to sell or a buyer searching for a property that will suit your needs, you’ll want to have some familiarity with what makes a home move-in ready and how this information could affect your situation. As always, it’s important to work with a trusted guide who has your best interests in mind. Modern homes, especially those marketed as move-in ready, often present an ideal opportunity for buyers seeking convenience and minimal maintenance.

The licensed professionals at Realty Network Group are experienced and equipped to handle a variety of scenarios as they relate to your home, whether it be move-in ready or not.

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Things That Can Affect The Value Of Your Home

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Homeownership isn’t for everyone! I know that can sound downright strange coming from a real estate firm. Yes, we are in the business of selling homes. We’re in the business of connecting buyers and sellers. We’re a company that’s predicated upon building and nurturing relationships with our clients, our agents, lenders, appraisers, inspectors and other professionals. Yet, while owning a home is typically seen as a sound investment, there are situations when it may not be financially advantageous to buy one.

For example, you might not want to own a home if there’s uncertainty about your future or your job security, as committing to a mortgage could prove burdensome, if income becomes unstable. Another factor to consider is if you’re carrying high levels of debt. If you’re in a financial deficit, it may be more feasible to rent and focus on paying off obligations before taking on the additional financial responsibility of a home. Paying down/off higher-interest debts can raise your credit score as well, which will help you achieve a better mortgage rate for your next home purchase. Additionally, if you plan to relocate frequently due to work or personal reasons, the costs associated with buying, selling and moving can make renting a more favorable option as well. Ultimately, the decision to buy a home should be carefully weighed against all personal satisfaction with your current residence, financial position and job situation.

On the other hand, if you are a property owner, welcome to the wonderful world of ownership (and maybe lower taxable income too). With that being said, did you know, there are ways that you can increase or likewise decrease the value of your home? And this can happen even over short timeframes.

Increase Your Home’s Value

Increasing the value of your home in less than one year can be achieved through different ways. One effective method is to focus on curb appeal by enhancing the aesthetics of the exterior. This can be done by maintaining a well-manicured lawn, planting flowers and shrubs, and adding a fresh coat of paint to the front door (choose that color wisely!). Upgrades to your home’s exterior can be relatively affordable. This is the one area where sellers can give themselves a boost when debuting their home for sale. Another approach is to update key areas in the house such as the kitchen or bathroom, as these rooms often have a significant impact on the overall value of the home. Maybe it’s time that your kitchen finally got a face-lift. The condition of the kitchen and the bathrooms are often the hinge on what buyers tend to gravitate towards or away from when engaged in their search. The kitchen, like the main living area, is a frequently visited room, and as such, potential buyers are looking for modern beauty and convenience here, when possible. Additionally, improving energy efficiency by installing energy-saving appliances/lighting, improving insulation and opting for eco-friendly materials can boost the value of your home too. Smart home technology has been one of the safest investments in recent years. The ability to adjust the temperature, security or lighting in your home from a distance is a real game-changer. There’s a certain peace-of-mind in this sector of home improvement and unfortunately for some sellers, this is a must-have for a handful of buyers.

If you have other questions about valuation or selling, in general, click here.

Negatively Impacting Your Home’s Value

On the flip side, there are several actions that can quickly diminish the value of your home. For one, neglecting maintenance and repairs is one of the easiest ways to decrease value. This includes ignoring necessary fixes like leaking roofs, faulty plumbing or electrical issues. If homeowners avoid addressing a major issue, it could balloon into something intolerable. Water is a good example of this. A water dilemma, left to its own devices, could become a big financial headache for owners of a property. Another pitfall you might want to evade is engaging in excessive customization that may not appeal to the general public, such as unconventional color choices or highly specific themed rooms. Lime green or Pepto-Bismol pink, anyone? Or think solarium or home theater. While you might love those colors or while these might be intriguing rooms, a real hub for excitement in a home, they’re not for everyone. In fact, there’s a segment of homebuyers who would never have a use for either color or room. Lastly, failing to maintain an overall clean and tidy household, including proper hygiene and cleanliness, can also reduce the overall value of your home or at least its perceived value. Many of the buyers we work with are thankful for their ability to rely on their five senses during their home search. Sight and smell are as important as any and they can single-handedly make buyers do an about-face upon entering a residence.

There are also some pretty strange elements which can impact your home’s worth. Some of them might catch you off guard.

 

As you examine your property, probing the aspects you can – remember, you’re probably not a licensed home inspector. Take note of what requires your attention and make a plan based upon that, calling upon professionals when needed. Pinpoint areas where updating will raise the value of your home. Maintenance, repairs and upgrades will positively affect the valuation of your property as well as your confidence as a homeowner.

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4 Tips For Stress-Free Moving

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Packing your whole life up into a large truck might be one of the most exhilarating experiences you can have in your lifetime. I mean after you’ve put all that effort into getting your home ready to market, dealt with your fair share of stress while your REALTOR® worked their magic, isn’t the “delight of moving” the next logical step towards sanity? Gearing up for the task of shipping some of your priceless belongings with a group of total strangers is completely normal.

All kidding aside, moving from one residence to another is daunting and has been known to rattle some sellers as they seek to begin a new chapter of their lives. It could be the mental energy we commit to those things, such as moving, which tends to drain us and in some cases, leave us feeling a little desperate. Quite honestly, this is why it’s critical whenever we’re faced with such a task as this, we unplug from our negative past experiences and truly take time to prepare for the move.

You can also find a helpful moving checklist on page eight of our homebuyer’s guide. In this post, we’re covering four ways moving is made easier. Having said that, we in no way want to make light of the experience. I, for one, don’t love the idea of packing up a room into boxes and then unpacking them on the other side, but I’ve always been able to deal with it in a healthy manner. We hope you can too and we feel confident these four tips as well as our checklist will help you navigate your way into your new home with minimal anxiety.

Give Yourself Time

Preparation is important whether you’re buying or selling a home. In fact, we advise many of our clients to give themselves extra time when they’re thinking about a life change. Big decisions can take time, especially getting used to them. Sellers who need to make repairs to their house, should factor in more time than they think to complete those jobs. Heck, even if a professional is making the repairs/updates, you’ll want to pack in additional time. The same can be said for those who are confronted with the challenge of moving.

Moving for some is excruciating, like on the level of public speaking bad. Yet, if you give yourself extra time in anticipation of unforeseen issues arising in the process, you’ll be much better equipped to handle them and stay calm. Our advice is you don’t procrastinate throughout the moving process. Whether you’re moving out of an apartment or a home, whether you’re the buyer or seller, once that switch is activated and your life is headed in another direction, act.

Gather Intel

For some, changing scenery is welcomed, for others there’s apprehension. Whatever flavor the move provides, it’s important you eliminate as much of the unknown as possible. Chances are you’ll erase some of that stress, if you gather information on your new town or neighborhood before setting down new roots. What is your new city/neighborhood like? What places would you like to visit after your move? What are some of the activities you’d like to do once you get settled? The more comfortable you are with your new surroundings ahead of time, the easier this transition will be. Those who put the effort in from day one, are better suited to handle the curveballs which may come their way. Learn all aspects of your particular process – mentally prep yourself.

Moving apps, like Sortly and Updater, have helped others organize their thoughts and well as their possessions. They could potentially aid you as well.

Hire A Reputable Mover

Not in all situations, but many moving endeavors do require the assistance of a moving company. Someone once said: “you never know how much you accumulate until you move” [author unknown]. Boy, isn’t that the truth! If you do need to choose a professional moving company, do your due diligence and research which options are best for you and your circumstances as well as your timetable. Prior to contacting movers on the phone, it’s important to make a list of five or more and read testimonials from other buyers and sellers who faced a similar task of having to hire one. What are the good and bad stories people are sharing? Make sure to do your homework and investigate registries like Angi, NextDoor, Yelp, Google, Facebook and others.

After you whittle your list down, make sure to compile a list of questions you’ll want to ask each of the moving companies. Need help creating your own? This is a great place to start. And there may be other factors you’ll need to consider such as special services required like packing/storage services or budgetary concerns or how you want your valuables transported. For starters, you’ll want to ask each company stuff like if they have a Federal Motor Carrier Safety Administration (FMCSA) registration number and how do they estimate costs for a particular job (binding estimates are usually better) and what fees are added on (hidden fees?) and what type of insurance they offer their customers.

Based upon this research and the responses to your questions, you’ll have a better idea of who you’d hire. Let’s face it, in real estate, banking, heck even cuisine, there are many choices… narrowing it down isn’t necessarily a bad thing. If one’s required, finding a reliable moving company should be at the top of your list. We hope these pointers provided you insight into making the right decision.

Soothe Thyself

Throughout the process of packing your life away and dealing with a real estate transaction, it’s vital to take care of yourself. This might sound puffed-up and maybe also a tad holistic, but stepping away from this process when it’s happening is healthy too. The self-care aspects shouldn’t be forgotten at this time. If you love to read first thing in the morning, then continue to do that even if you need to cut back slightly. If taking a walk in the evening in a park or on a trail is your thing, then keep walking. If working out a few times a week makes you feel better, gives you energy and relaxes your nerves, then by all means, do those burpees. If enjoying a glass of wine on your porch helps pacify your mind, then don’t let moving oust you from outdoor happiness.

If you have an area of your home where you and your family really take in life and the room acts like a sanctuary for you, don’t box that up until the last possible day.

Also, it’s important to keep ties to those you might be leaving behind, such as family, friends and neighbors. Set aside time to get together with neighbors and those in the community you’ve enjoyed getting to know, who you might not see again (depending on the distance of your move). Schedule your next return trip with family and friends, which will give you and them something to look forward to.

 

Moving is a trying time, yes, but there are methods we can take, which will help us deal with the challenges ahead. Stay focused on what matters, sure, but give yourself time and try not to beat yourself up when things go sideways. We’re here to help you throughout this process. Call one of our professionals should you want any assistance along the way.

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Why Homes Sit on the Market: 5 Fixable Reasons

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 Don’t let your home sit—let it stand above the rest of the competition and be noticed. If there’s one thing we counsel our clientele on today, it’s making a distinction between their home and others “on the market, not selling.” What are the unique selling points of their home? What is the state of the market, even as granular as their neighborhood? Are there comparable properties selling right now? Putting together a vivid picture of the subject property and how to elevate it above other similar homes could mean the difference between fewer days on market and maybe even a multiple offer situation. Understanding why homes sit on the market can help sellers create an effective strategy.

1. Pricing

This is the obvious. The elephant in the room. We’d be deceiving ourselves if we didn’t mention this one first, because it’s the most important and for good reason. Remember, the whole process for a buyer begins (or should begin) with an honest assessment of what they can afford and tailoring their search around that benchmark. The buyer consults a mortgage lender, discovers how much they’re pre-approved for, compares that to their financial situation, determines their must-haves when previewing homes, and investigates the market. Homebuyers, especially if they’ve been searching for some time, have an eye for present circumstances and how compatible properties have fared.

Sellers who better understand what buyers are witnessing in terms of pricing can better estimate and position their property for its initial release. That’s why having a REALTOR® generate a competitive market analysis (CMA) tailored to the seller’s home is ideal for understanding how to price it correctly. Although we might be in a period of correction, the market still favors sellers. Because of this, real estate professionals may advise homeowners to set their list price toward the higher end of its value range.

2. Repairs

When owners anticipate selling, they should review all aspects of their property to determine what needs repair and what could benefit from an upgrade. Ideally, this should be done months ahead of time. Consulting a REALTOR® can help owners judge which repairs or updates would help sell the home and which ones to avoid. Sellers want to skip changes that buyers won’t care about or that might negatively affect value.

Some homeowners pursue a “pre-listing” inspection, where a professional evaluates the home and pinpoints potential issues to address before listing. Though less common, this step can be extremely beneficial in certain cases and prevent scenarios where homes sit on the market due to condition concerns.

3. Curb Appeal

We emphasize this often—because it matters. Do you want increased engagement and more prospective buyers to see your home? One of the quickest ways to attract attention, both online and for in-person showings, is to create an inviting atmosphere. The exterior facade will either captivate or deter onlookers. It’s that simple. A fresh coat of paint on the front door, fresh landscaping, trimmed shrubbery, and a new garage door can all enhance appeal.

However, homeowners shouldn’t go overboard. Changes that don’t appeal to most buyers or that seem too high maintenance could turn people off. Sellers should avoid spending on upgrades that won’t deliver a return on investment. Enhancing curb appeal the right way can make a difference in why homes sit on the market or sell quickly.

4. Buyer Incentives

Offering buyers and their agents meaningful perks can help your home stand out. One popular incentive is a home warranty, which covers the home while it’s listed and provides coverage for the buyer after closing. This protects both parties and adds peace of mind.

Other incentives include seller concessions or closing credits. These financial boosts help buyers cover costs and may tip the scales in your favor. Some sellers offer a buyer’s agent bonus, which encourages agents to prioritize showing your home. These strategies can help minimize why homes sit on the market for extended periods.

5. Marketing

Investing in a knowledgeable real estate professional who understands current market conditions can reduce time on the market. Experienced agents know how to position a property for maximum exposure and understand what’s selling—and why.

Sellers should choose a REALTOR® and brand with a track record of attracting a large pool of buyers. Aggressive, strategic marketing and a willingness to go the extra mile are must-haves. Agents should have a clear plan for how to get your home noticed and shown. Without strong marketing, it’s easy to see why homes sit on the market unnecessarily.

Take Action Now

As a homeowner, some factors—like location or costly upgrades—may be out of your control. But the five listed above are well within reach. Sitting down with your agent to create a strategy based on these tips can ultimately reduce the number of days your home stays listed. Understanding why homes sit on the market helps sellers prepare and adjust before listing.

If you’re considering selling, even if it’s months away, it’s never too early to plan. Contact one of our professionals today to get started!

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Considering Selling? What Can Today’s Seller Expect?

Considering Selling? What Can Today’s Seller Expect?

As we enter the spring housing market, today’s seller finds themselves in a uniquely advantageous, yet complex, position. The past year was stellar for homebuying and selling, though many first-time buyers, often relying on FHA loans or smaller down payments, found themselves outbid by investors or more competitive buyers. Today’s market, marked by continued low inventory, has kept prices high and demand strong, although sellers still face questions about timing, pricing, and post-sale decisions.

Understanding the Seller’s Market in 2022

While it’s a clear seller’s market, potential sellers face concerns, particularly if they’ll need to purchase a new home after selling. Christina M. Keller, REALTOR® at Realty Network Group, notes that in northeastern Pennsylvania, sellers are generally in a favorable position, though some feel pressured to prepare their homes quickly and effectively. This rush, combined with the need for a new home post-sale, adds a layer of complexity and even hesitation for many.

New Trends in Home Sales

Aware of high demand, many of today’s sellers are opting to save on pre-sale upgrades. Where homeowners might have repainted, updated kitchens, or replaced floors in previous years, today’s sellers are finding that buyers are willing to take on these cosmetic changes themselves post-purchase. Keller observes, “Sellers are counting their savings, knowing buyers are willing to tackle projects post-settlement.” This trend aligns with the broader competitive landscape, where buyers are often just grateful to secure a property, even if it needs some work.

Buyers Ready to Compromise

Given the high level of competition, many buyers are forgoing requests for minor repairs or updates, choosing instead to purchase “as is.” This willingness to accept properties with minor issues can often be the deciding factor in competitive bidding, sometimes even outpacing higher offers. While this benefits sellers by expediting the sale and reducing pre-sale costs, it means buyers are finding fewer opportunities to negotiate on price.

Timing is Everything: Why April Might Be Ideal for Today’s Seller

For sellers looking for an optimal listing time, April might hold the key. Realtor.com pinpoints April 10-16 as an ideal week, citing a combination of high buyer interest and limited competition that often leads to quicker sales at higher prices. Similarly, Zillow’s data from 2021 suggests that late April (21-28) can provide the best conditions for a successful sale. Timing the market could help today’s sellers maximize their returns, especially in an environment where housing demand remains strong but inventory is slow to rebound.

April’s “Sweet Spot” for Today’s Seller

In sum, today’s seller is uniquely positioned to make the most of the spring market. With robust demand, limited competition, and a favorable timing window, listing in April could yield top dollar. For those contemplating a sale, acting in the next few weeks could capture high buyer interest and maximize profit, creating an ideal exit point in 2022’s dynamic housing market.

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Why Would I Need A Real Estate Appraiser?

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As a homeowner, why would I need the services of a real estate appraiser? And is one needed if I already have a business relationship with a REALTOR®? These are great questions, but before we dive in and answer them, let’s establish what we mean when we say “appraisal.”

For our purposes here, we’re not concerned with commercial real estate appraisals. These are a whole different animal and are sought after less than residential ones in our region. By appraisals, we’re referring to an accurate estimate of a home’s current/fair market value (emphasis added). We’ll break down the difference between this and how we understand a comparable market analysis, but it’s safe to say appraisals hold much more weight. Furthermore, an appraisal, which is required by a homebuyer’s lender, for instance, is completed by a licensed appraiser and not solely a real estate agent.

While some homeowners, who are looking to sell their home, might request from a REALTOR® what’s called a comparable market analysis (CMA), it’s critical to recognize the distinction between it and an appraisal. While agents might use methods of comparison similar to appraisers, they aren’t licensed appraisers with no motivation for the sale of the property. Generally speaking, CMAs are for agent purposes (listing a home for sale, data to support a buyer’s offer) and appraisals are for lending purposes. Read more about their differences here.

Regardless of the business relationship you have with a real estate professional, unless he/she has a license to appraise property in that state, his/her assessment on what a property is worth won’t hold water with the mortgage lender actually making the investment on the home on your behalf (whether you’re the homeowner or mortgagor). Not all appraisals involve banks though. “There are many reasons someone would hire an appraiser,” exclaims Maria Muchal Berta, Owner/Certified Real Estate Appraiser for Chiave Appraisal Group and Associate Broker with Realty Network Group. “One reason is if a buyer is using cash to purchase a property, meaning there are no banks involved in the transaction. It gives the buyer a piece of mind knowing they’re not overpaying for a property. Other common reasons for hiring an appraiser include divorces, settling estates, refinancing, applying for home equity loans, appealing tax assessments or they’re just curious about their home’s worth.”

We hope this elucidates why someone might need the services of a real estate appraiser. It’s a complicated market out there! Make sure you have the right people and tools at your fingertips. If you need further clarification regarding homebuying, look into this resource.

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