Why use a Realtor®?

Some owners attempt to sell their home or property themselves, with the hope that they will make more money by saving the commission charged by a real estate agent. This can be a costly mistake. We can offer you the proven winning combination of our competitive commission rates and professional expertise. We have the experience and training in such fields as real estate marketing, financing, negotiation, and closing, as well as the expertise needed for today’s seller disclosure statements, longer and more complex form agreements, and range of environmental concerns.

Attempting to handle your own sale means you will bear the cost and responsibility for marketing your home or property, placing ads, answering phones, and showing your home to strangers, as well as familiarizing yourself with the plethora of applicable laws. In addition, potential buyers may offer less for your home because they know you are not paying an agent’s commission. These and other factors may wipe out any financial incentive to do it all yourself and can cost you even more in time and money…and lost opportunities for a sale.

Increasing Your Home’s Appeal

Remember the 60-second rule: That’s all the time you have to create a winning first impression. Here are some simple to significant ways to maximize your home’s appeal:

Exterior

• Keep the grass cut and remove all yard clutter.
• Weed and apply fresh mulch to flower beds.
• Apply fresh paint to wooden fences.
• Tighten and clean all door handles.
• Clean windows inside and out.
• Powerwash home’s exterior.
• Ensure all gutters and downspouts are firmly attached and functioning.
• Paint the front door.
• Buy a new welcome mat.
• Place potted flowers near the front door.

Interior

• Evaluate the furniture in each room and remove anything that interrupts the "flow" or makes the room appear smaller. Consider renting a storage unit to keep items off-site.
• Clean and organize cabinets, closets and bookshelves.
• Clean all light fixtures and ceiling fans.
• Shampoo carpets.
• Remove excessive wall hangings and knick-knacks.
• Repair all plumbing leaks, including faucets and drain traps.
• Make minor repairs (torn screens, sticking doors, cracked caulking).
• Clean or paint walls and ceilings.
• Replace worn cabinet and door knobs.
• Fix or replace discolored grout.
• Replace broken tiles.
• Replace worn countertops.

Special Details for Showings

• Turn on all the lights.
• Open all drapes and shutters in the daytime.
• Keep pets secured outdoors.
• Buy new towels for bathrooms.
• Buy new bedding for bedrooms.
• Replace old lamps or lampshades.
• Turn off TVs and play quiet background music.
• Infuse home with a comforting scent, such as apple spice or vanilla.
• Set the dining room table for a fancy dinner party.
• Vacate the property while it is being shown.

Contact ERA Showcase Properties today for a free no-obligation consultation or request a FREE CMA market analysis of the value of your home or property.

How to Price to Sell and Still Make a Profit

The asking price you set for your home significantly affects whether you will profit in the sale, how much you will profit and how long your home will sit on the market. A real estate agent’s knowledge of the overall market and what’s selling – or not selling – will be invaluable in helping you determine the price. The objective is to find a price that the market will bear but that won’t leave money on the table. As an experienced Real Estate firm with many experienced Real Estate Professionals, we can help you via a free no-obligation consultation and a FREE CMA market analysis of the value of your home or property. Setting a fair asking price from the outset will generate the most activity from other real estate agents and buyers.

Here are some points to consider:

Time: Time is not on your side when it comes to real estate. Although many factors influence the outcome, perhaps time is the biggest determinant in whether or not you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, if your goal is to make money, think about a price that will encourage buyer activity (i.e., fair market value).

Value vs. Cost: Pricing your home to sell in a timely fashion requires some objectivity. It’s important that you not confuse value with cost – in other words, how much you value your home versus what buyers are willing to pay for it. Don’t place too much emphasis on home improvements when calculating your price, because buyers may not share your taste. For instance, not everyone wants hardwood floors or granite countertops.

Keep It Simple: Because time is of the essence, make it easy for the buyers. Remain flexible on when showings can be scheduled. Also, avoid putting contingencies on the sale. Though a desirable move-in date makes for a smoother transition between homes, it could cause you to lose the sale altogether.

Contact ERA Showcase Properties today for a free no-obligation consultation or request a FREE CMA market analysis of the value of your home or property.

Practicing Good Seller’s Etiquette

Let’s face it: when your house goes on the market, you’re not only opening the door to prospective buyers, but also sometimes to unknown vendors and naive or unqualified buyers. As with any business transaction, there is an expected protocol to how sellers, buyers and their respective agents interact. Should you find yourself in a sticky situation, alert us so we can address and remedy the problem. One of the benefits of using a professional Realtor is that you don’t have to deal with any of the following:

The Aggressive Agent

When your agent puts your house on the market, typically all promotional materials state clearly that your agent is the primary contact for buyers and buyers’ agents. However, sometimes a buyer’s agent will contact a seller directly to try to either win over their business or cut the seller’s agent out of the deal. This is not reputable behavior and you should report it to your agent immediately if it happens to you.

The Unscrupulous Vendor

Have you ever started a business or moved into a new house and suddenly found your mailbox full of junk mail? Unfortunately, this also can happen when you put your house on the market. When you sell your home, it necessitates all kinds of new purchasing decisions and less-than-ethical vendors are keenly aware of this. Though MLS organizations enforce rules on how posted information is used, some companies have found ways to cull information from various sources to produce mass mailing lists. If you find yourself regularly emptying your mailbox of junk, let your agent know. He or she can tap the appropriate sources to prompt an investigation into the matter.

The Naive Buyer

Yard signs, Internet listings, and other advertisements can generate a lot of buzz for your home. Some prospective buyers – particularly first-timers – will be so buzzed to see your home that they’ll simply drop by. If this happens, no matter how nice these unexpected visitors are, it’s best not to humor their enthusiasm by discussing your home or giving an impromptu tour. Instead, politely let them know that your real estate agent is in charge of scheduling tours and provide them with the agent’s contact information. If you attempt to handle these surprise visits on your own, you might inadvertently disclose information that could hurt you during negotiations down the road.

Contact ERA Showcase Properties today for a free no-obligation consultation or request a FREE CMA market analysis of the value of your home or property.

Glossary of Real Estate & Financing Terms

AMORTIZED LOAN: A loan which is paid off in equal installments during its term.

ADJUSTABLE RATE MORTGAGE: A loan that allows the lender to adjust the borrower’s interest rate and payments at prescribed times and sometimes with prescribed limits. Lower interest rates are customary.

APPRAISAL: An estimate of real estate value, usually issued to the standards of FHA, VA, FNMA. Recent comparable sales in the neighborhood are the most important factor in determining value.

ASSUMABLE MORTGAGE: Purchaser takes ownership to real estate encumbered by an existing mortgage and assumes responsibility as the guarantor for the unpaid balance of the mort­gage.

CAPITAL GAINS TAX: The taxable profit derived from the sale of a capital asset. The capital gain is the difference between the sale price and the basis of the property, after making appropriate adjustments for closing costs, fixing up expenses, capital I improvements, allowable depreciation, etc.

CLOSING COSTS: Expenses incurred in the closing of a real estate or mortgage transaction. Purchaser’s expenses normally include: cost of title examination, premiums for title policies, survey, attorney fee, lender’s service fees, and recording charges. In addition, the purchaser may have to place in escrow a sum of money to cover accrued real estate taxes and insurance.

CONVENTIONAL MORTGAGE: A loan neither insured by the FHA nor guaranteed by the VA.

EQUITY: The difference between the market value of property and the homeowner’s indebtedness (mortgage).

EXCHANGE: The trading of an equity in a piece of property for the equity in another.

FIXED RATE MORTGAGE: A loan that fixes the interest rate at a prescribed rate for the duration of the loan.

FREDDIE MAC: Nickname for Federal Home Loan Mortgage Cor­poration (FHLMC), a federally controlled and operated corporation to support the secondary mortgage market. It purchases and sells residential conventional home mortgages.

FANNIE MAE: Nickname for Federal National Mortgage Association (FNMA), a tax paying corporation created by Congress to support the secondary mortgages insured by FHA or guaranteed by VA, as well as conventional home mortgages.

GRADUATED PAYMENT MORTGAGE: An FHA, VA, or Con­ventionalloan where the borrower pays a portion of the interest due each month during the first few years, of the loan. The payment in­creases gradually during the first few years to the amount necessary to fully amortize the loan during its life.

IMPOUND ACCOUNT/ESCROW PAYMENT: That portion of a mortgagor’s monthly payment held in trust by the lender to pay for taxes, hazard insurance, mortgage insurance, lease payments, and other items as they become due, known as impounds in some states.

INVESTOR: The holder of a mortgage or the permanent lender for whom the mortgage banker services the loan. Any person or insti­tution that invests in mortgages.

LEASE PURCHASE AGREEMENT: Buyer makes a deposit for the future purchase of a property with the right to lease the property in the interim.

LOAN TO VALUE RATIO: The ratio of the mortgage loan principal (amount borrowed) to the property’s appraised value (selling price). On a $100,000 home, with a mortgage loan principal of $80,000, the loan to value ratio is 80%.

MORTGAGE/DEED OF TRUST: Pledge of real property to secure a debt by a written instrument given by the mortgagor. Should be recorded in the County Recorder’s Office.

MORTGAGE INSURANCE PREMIUM (MIP): The consideration paid by a mortgagor for mortgage insurance either to FHA or a private mortgage insurance (PMI) company. This insurance protects the investor from possible loss in the event of a borrower’s default on a loan.

MORTGAGEE: The lender of money or the receiver of the mortgage document.

MORTGAGOR: The borrower of money or the giver of the mortgage document.

NOTE: A written promise to pay a certain amount of money.

ORIGINATION FEE: A fee or charge for work involved in the evaluation, preparation, and submission of a proposed mortgage loan.

POINT: One percent of loan amount.

PREPAYMENT PENALTY: A fee paid to the mortgagee for paying the mortgage before it becomes due. Also known as prepayment fee or reinvestment fee.

PREPAYMENT PRIVILEGE: The right given to a purchaser to pay all or part of a debt prior to its maturity. The mortgagee cannot be compelled to accept any payment other than those originally agreed to.

PRIVATE MORTGAGE INSURANCE (PMI): Insurance written by a private company protecting the mortgage lender against loss occasioned by a mortgage default.

RENT WITH OPTION: A contract which gives one the right to lease property at a certain sum with the option to purchase at a future date.

SECOND MORTGAGE/SECOND TRUST: Junior Mortgage or Junior Lien; an additional loan imposed on property with a first mortgage. Generally at a higher interest rate and shorter terms than a "first" mortgage.

STRAIGHT LOAN: A loan with periodic payments of interest only: the principal sum due in one lump sum upon maturity.

TITLE: Often used interchangeably with the word ownership. It indicates the accumulation of all rights in property; the owners and others.

TITLE INSURANCE: An insurance policy which protects the insured (purchaser or lender) against loss arising from defects in title.