Be Market-Smart: Dos and Don'ts for Home

Be Market-Smart: Dos and Don'ts for Home Sellers and Buyers

By Dan Steward

RISMEDIA, October 13, 2010—It would be unrealistic to say that the real estate market is utterly rosy right now, but neither is it thorn-filled by any means. In fact, things are decidedly looking up: July got some good news, when the National Association of Realtors reported that pending home sales rose 5.2% from downwardly revised June levels, beating economists' expectations. This is good news for both buyers and sellers.

While challenges still exist—for instance, getting the best price when selling, or securing financing when buying—there are some once-in-a-lifetime opportunities out there, and plenty of happy results can be had for both buyers and sellers. The key for both groups is to remain flexible, adaptable and diligent. To that end, here are some dos and don'ts for today's buyers and sellers:

For Sellers:

DO'S
Be flexible. Often it's the little things that push a buyer into the "yes" zone. If the buyer goes on and on about how much they love your icemaker, throw it in. If the closing has to be pushed ahead more than you expected, try to be as flexible as possible and pack the moving van a little quicker.

Clean up. One person's prize doll collection is another person's cluttered nightmare. Similarly, a living room filled with Beanie Babies could elicit a reaction of fear, rather than "Aw, how cute!" from a buyer. Put away any personal collections that not only cause clutter, but also make it hard for a buyer to see the home as his or hers, rather than yours.

DON'TS
Don't be greedy. The market—not your emotions—dictates your home's price. If comparables in the area, and several trusted real estate agents tell you your home is worth $400,000, you're not fooling anyone by pricing it at $500,000—and you're only doing yourself a disservice. Pricing it at market, even a little below, could generate a bidding war, and ultimately get you more money.

Don't get personal. If you're selling your house for a certain amount, and someone offers something much lower, don't take this as a personal affront and refuse to counteroffer. Letting your emotions get in the way can potentially ruin the deal. What's the harm in making a counteroffer?

Don't procrastinate. In the current climate, you might be scared to try to sell your home, as you may have to face a lower selling price than you may have gotten before the recession. But remember, the house you buy might be even lower, commensurately. It's all relative. So if you're serious about selling, consider doing it now. Also, acting before the cold months come is a good idea, as the winter months are historically harder for home sales.

For Buyers:

DO'S
Get a home inspection. It's important to hire a trusted home inspector to check out the house's potential issues and problems. Don't skip a home inspection because you're afraid of what you might hear—many issues sound more serious than they actually are, and can be fixed easily. And if something deal-breakingly serious is turned up, as disappointing as that is, it can save years of heartache and financial outlay. Better to walk away from a clunker.

List your place before you look for another. If you're truly serious about looking for a home, list your place first. In the current economy, banks want to make sales as uncomplicated as possible—and contingency sales, which can be very complicated, are often rejected.

Talk before you act. Don't ever start a home search without a firm budget not only in mind, but literally written down. Mutually agree with yourself—or with your partner, if you're buying with someone else—long before you start seriously searching. Going out of that zone because of a place you just "gotta have," or are emotional about, could put you in dire financial straits later. You don't want to buy a house that isn't affordable for you, and then be worried about paying for dinner and a movie on Saturday night.

DON'TS
Don't be a design snob.
If someone's enormous bathroom has wallpaper border containing frolicking kittens and pastel flowers, or a wall that's a nuclear shade of green, we understand this can send you into style shock. But stand fast and ignore bad décor. Instead, try to envision the space raw. Besides, you can always redecorate once the home is yours.

Don't make a silly offer. There's nothing wrong with making an offer below asking price—it's no secret that today, many homes are selling for under the asking price. But going 40% below the asking price may anger the seller. Some sellers, especially more emotional ones, won't even bother counter offering an outrageously low offer. Feel free to make a deal—just don't make an offer so low that you'll be kicked off the table.

  

 


Macon County NC Real Estate with Specialty in Franklin & Otto

"Offering Solutions to My Clients"
Your gateway to Paradise in the Smokey Mountains of Franklin, NC.
John Becker / Bald Head, provides a superior level of informed, professional real estate service to Buyers and Sellers. You can obtain any information you require in order to make an informed purchase regarding Franklin NC Homes for Sale and Otto NC Properties for Sale with John Becker at Bald Head Realty.  Call 828-506-3719 

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Macon County NC Real Estate with Specialty in Franklin & Otto
"Offering Solutions to My Clients"
Your gateway to Paradise in the Smokey Mountains of Franklin, NC.
John Becker / Bald Head, provides a superior level of informed, professional real estate service to Buyers and Sellers.

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January 4th, 2013 Our first real estate dealing with John Becker (aka Baldhead) was when selling our primary residence in Franklin, NC as he was the agent representing the buyers. Not only did he present a successful contract but the offer exceeded our asking price! Since we were so impressed with his process expertise, responsiveness, and negotiation skills, in 2012 we listed and sold our second home with him. John doesn't just wait around for the "right" buyer to walk in the office he aggressively pursues perspective buyers through professional contacts, extensive Internet exposure, and local advertising. The video John produced of our home was HGTV worthy and initiated immediate interest. Just a few weeks after listing John presented us with an acceptable offer and handled all the details of the process through closing. We were very impressed with his support and communication and would highly recommend his services. If you are truly serious about buying or selling a home in this area you need a full time professional agent with local knowledge, and John Becker is by far the best choice. Graydon & Susan Smith
Sep 10, 2011 John Becker was fantastic as our realtor. He helped us look at houses for over 2 years before we finally found the house we wanted and helped us navigate the short sale and foreclosure process perfectly. At all times he was professional, honest, and responsive. Thank you John and we look forward to having you as our realtor in the future. Thanks Chip & Mary Ann Godwin Chip & Mary Ann Godwin
Wendell & Karen ‎ - Sep 4, 2011 One Saturday on a whim I told my wife I was going to talk to John “Bald Head The Realtor” about some property I come across. After a short conversation with John he had formulated a plan. I was amazed that in less than a week we were on the fast track to owning the property. During the course of the negotiations John helped us overcome many potential obstacles to owning our first property in beautiful Franklin, NC. He always responded quickly to our questions. I soon became aware that this was a man I could trust - a rare find. My wife and I will always be grateful to John for helping us realize our dream of owning our own piece of this majestic land. Wendell and Karen, Franklin, NC Wendell & Karen
Kathryn P ‎ - Sep 28, 2011 Thanks so much John for being you as you are SUPER! My Dad and I were blessed that you were the listing agent on the home we first looked at as that led us to you. And you made our whole experience one that was so darn easy and pleasant. Working with you through the whole experience of looking at both homes was a total delight. Not only do you listen, you make the rather grueling process of home shopping to be fun. Thanks so much for your good humor and grace under pressure. Your smile alone made the paper signing go faster. You surround yourself with great people, too. From your assistant to your real estate attorney...all top notch and the nicest of folks to work with in the home buying process. I know I will certainly be recommending you to others and if I ever have to do this again.....you will be the first person I call. Kathryn Kathryn Pickens
Aug 22, 2011 "We have to admit that all of this "Bald Head" business seemed a bit much at first, but it took very little time with him to come to the realization that John "Bald Head" Becker is a very serious and effective real estate broker who in our experience and opinion is simply the best. Not only did "Bald Head" give us focused attention, maintained very active and prompt communications with us but also went way beyond our expectations in anticipating and filling practical needs. We would use him again in a heartbeat and only lament that we cannot also employ him to sell our house in Raleigh. We highly recommend "Bald Head The Realtor" to you and without reservation." Bill & Pam Peterson
Hey John, What a job you did! Listed in June and sold in August, in this economy ! Thanks for all the follow up work getting it closed in such a short time. Thanks again, James and Barbara Frank Aug. 13th 2011 Jim & Barbara Frank
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