Keller Williams Realty - Loveland Colorado

If one of your New Year’s resolutions is to sell your home, keep in mind that although the traditional home-buying season starts in the spring, there are good reasons to list your home now, rather than waiting:

• On average, the number of home sales in January drops almost by half from the previous year’s peak. A house that is priced right and staged well will stand out even more with less competition.
• Lenders, home inspectors, movers, and other vendors also see a seasonal dip in transactions. This could mean a quicker, easier, and possibly cheaper time to buy, sell, and move.

Even if you’re not ready quite yet, now is a great time to start the conversation with your Loveland real estate agent. He or she can give you pointers on which repairs and preparations to tackle first, and which ones may not be necessary, saving you time and money. Starting now can help you capture the most buyers by busy season.

Source: Keller WIlliams Realty, “This Month in Real Estate” released 1/2012.

Did you know that the housing and building industry accounts for nearly 40% of the world’s energy and raw material consumption? Our ability to “green our homes” truly has the ability to change the world. The principles of green are really about understanding priorities for a well-lived life—living healthy, being smart with money, and acting more sustainably.

We typically spend more than 80% of our nonworking or commuting hours inside our homes. Because we spend so much of our lives inside, it only makes sense we make a healthy inside zone the first priority. Here are a few DIY tips from Green Your Home to get you started:

• Cross-Ventilate. An average adult takes in more than 14,000 breaths—or about 3,000 gallons of air—a day! Surprisingly, you are more likely to breathe polluted air inside your home than outside—even in cities like Los Angeles, which aren’t known for air quality. Opening one window won’t cut it…you need cross-ventilation so the breeze actually blows though your home, taking the pollutions back out with it. Open a front door and a back door, or one window upstairs and one downstairs.
• Lighten Up. Simply swapping out the five most commonly used incandescent bulbs for CFLs or LEDs in your home can save you $60 to $100 a year. Combined with well-designed artificial lighting, natural lighting is also a great way to boost efficiency.
• Low Flow. American families use about 400 gallons of water a day, and 70% of that is used inside the home. The majority is used in the bathroom: the average person flushes the toilet 2,500 times a year. Transform your home’s toilet from water-waster to water-miser for cheap. Place a brick or 2-liter plastic bottle filled with water into your toilet’s tank. The volume of these objects means less water will be needed to fill your tank—you’ve just created your own low-flow toilet. Also, be sure and have a leaky or running toilet fixed by a plumbing professional immediately.

For more tips, buy your copy of Green Your Home now at:
www.kellerink.com/greenyourhome.

Source: Keller Williams Realty, Inc., “This Month in Real Estate,” released November 2011.

Since affordable pricing tops the list of motivation and criteria for buying, it is no surprise that many first-time home buyers purchase distressed properties, which can be up to 30% below market value. Cost-conscious buyers are the most interested in distressed properties, but it is important for them to take into consideration the additional costs and expenses related to damage or neglect that occurred during the foreclosure process. On average, distressed property prices for first-time home buyers are $185,971 with a median of $153,000.

Another consideration for buyers is the transaction time. Short sales and foreclosures typically take considerably longer to close because buyers deal with institutions rather than individual sellers. Yet buyers who are patient can benefit by paying less. As a seller, it is important to understand the current real estate market, and a real estate agent is there to guide sellers every step of the way. Agents can help sellers understand what the level of distressed sales and competition look like in their area. This way, they will be able to price their home right and will more than likely be able to attract attention from potential home buyers.

Source: Keller Williams Realty, Inc., “This Month in Real Estate,” released October 2011.

As the weather gets cooler, some homeowners could be considering undertaking home renovations or updates before the holiday season. Here are a few findings about updates and home sales:

• Homeowners typically spend considerably more on updates to their home when planning to live in and enjoy it, with an average of nearly $9,000.
• In contrast, homeowners only spend an average of $3,400 when making updates in preparation to sell.
• The most common updates performed before listing were paint, flooring, and light fixtures.
• Although the majority of buyers were least likely to compromise on the location, 16% were least likely to compromise on updates.
• 75% of homes sold were either fairly updated or very updated.
• Sellers began repairing their home 1 to 8 weeks in advance of listing.

Source: Keller Williams Realty, Inc., “This Month in Real Estate,” released September 2011.

Repeat buyers, especially move-up buyers, tend to want their next home to be in great condition. Usually, when homes are located in a neighborhood that attracts those buyers, homes need to be in pristine condition to stand out from the rest. This can be achieved by getting the home pre-inspected for the buyer. Research shows that 8% of sellers have a pre-listing inspection before putting their home on the market.

It is fundamental for sellers to make essential repairs to their homes before listing, and curb is particularly important. This is often a first step to getting buyers in the door. Sellers who choose to make enhancements to their front yards tend to have good-to-excellent results in comparison to the 68% of homes without enhancements. By boosting the curb appeal, sellers tend to receive their first offer six days faster and sell seven days sooner than sellers who don’t work to boost curb appeal.

Quick Facts

• 49% of buyers end up purchasing a home in excellent condition while 40% purchase in good condition.
• 47% of sellers enhance their front yard appearance by making changes up to five weeks in advance before listing the home for sale. Sellers tend to spend between $150 and $1,000 when improving their curb appeal.

Source: Keller Williams Realty, “This Month in Real Estate” released June 2011.