When Should You Drop Your Selling Price?

You want to get the best price for your home, naturally. You’ve put it up for sale, focused on things like curb appeal to make a good first impression, and done research for other prices in your location. But despite all of your efforts, what if your home has been sitting on the market and/or you have no showings scheduled? It may be time to evaluate your selling price.

When you initially list your house, it will be a new listing that may get lots of attention at first. But that can change quickly, and as the weeks go on, you might consider the price.

There are many reasons to lower your selling price:

There are fewer buyers looking at your home. If the house has been on the market and there have not been any interested buyers inquiring about your property, it may be time to reduce the price a bit. Many potential buyers may think that your home is overpriced a bit, and taking it down can bring in new buyers.

You have to sell because of a looming deadline. Maybe you’re moving to another state and need to sell before you leave. Consider lowering your asking price to get potential buyers interested.

You don’t have any offers coming in. Maybe you’ve given many tours of your home to potential buyers but no one had made you an offer. It’s possible that the only thing stopping them is the too-high price, so you may want to take it down.

You can’t afford any upgrades. If you were planning to do some improvements like painting, new carpet, etc. but now you simply can’t put out the money for these things, you may want to consider lowering the price. You want the price to be fair considering what the home may be lacking.

Your price is too high for the competition. If your home has been on the market for a month or so and you don’t have any potential buyers, it’s time to give the price a second thought. Staying in touch with the competition will ensure you get the best price for your property.

It’s understandable that you want to get a certain price for your home, but you must be realistic about the market and the condition of the house. It’s a good idea to keep in close contact with your agent throughout the entire process so that you know where the sale of your home stands.

Summer Landscaping Tips

Now that summer is here, it’s a good idea to look at the landscaping around your home. Depending on what part of the country you live in, summer can be one of the most challenging seasons for maintaining landscaping and lawns. The hotter it gets, the more detrimental it is for your plants and lawns because the soil dries up. Plants have the tendency to wither if they are not hydrated properly. This can be a challenge if you live in an area where water restrictions are imposed.

Why is landscaping so important? It creates curb appeal that can help you to sell your home. It can also add value to your property, which is always a good thing. However, the wrong landscaping and/or unattractive, withering, and dry landscaping can prove to be detrimental to the sale of your home.

Consider the following tips to keep your home’s landscape hydrated and looking lush and beautiful during the summer months:

·        Look for signs of plant and lawn dehydration early. It is essential to determine whether or not your landscaping is showing signs of dehydration. If plants are wilting and growth is slow, you should tend to your landscaping immediately. Other signs of dehydration include yellowing leaves, browning leaf edges, and the upward curling of grass blades.

·        Mow the grass frequently. Also, mowing the grass as tall as you can allows the grass to draw moisture from a bigger volume of soil, resulting in the need for less watering. Mowing the grass to heights of three to three and a half inches means that the lawn has a better chance of surviving a long drought period.

·        Water your lawn and plants during the appropriate times. The best time to water a lawn is from 6am to 8am when water pressure is highest and water evaporation is lowest. You should not water your lawn during the middle of the day and windy conditions. When you know the best time for irrigation, you can conserve water.

·        Keep the dirt near the foundation of your house moist. When the dirt is dry, the foundation can have the tendency to crack. This can be very costly to repair, so make sure the dirt is semi-wet.

·        Control the growth of weeds. First, inspect for weeds to spot any growth early. Next, look into lawn treatments for weed control. You will need a pre-emergence weed control treatments and post-emergence treatments.

You can still have a beautiful lawn and landscaping that will wow potential buyers this summer. Be smart about your solutions to keep your landscaping looking great during the hot months!

How Landscaping Improves Curb Appeal

Your landscaping should add functionality and enhance the curb appeal of your property. Good landscaping can increase the resale value of your property by up to 7%. It will also facilitate a quick sale. But don't landscape with the sole objective of improving your home's value. When you landscape, your main concern should be increasing your own enjoyment of the space.

In this article, we will share the vital elements of good landscaping that adds value and provides enjoyment to the owner and potential buyers.

Trees

Trees provide shade. They keep your home cool during the hot summer months and reduce your energy bills. Trees also improve the air quality. They absorb the carbon dioxide from the air and release oxygen. They also prevent soil erosion and retain the fertility of your soil. Trees are also known to reduce stress levels. Your trees may even increase the value of your neighbor's property.

In order to add resale value, the tree has to be healthy and mature. Trees that are native to the region have higher value because they don't require much maintenance. According to the US Department of Energy, two or three trees that are properly placed can save up to $250 in annual energy bills.

By planting windbreaks, you can also reduce your heating bills.

Native plants

If you are planning to add plants, trees or shrubs to the yard, opt for the native ones. They thrive well in their natural habitat. Native plantings can increase your home's value. They are also beneficial for the wildlife because they create a natural habitat for birds and butterflies.

Rain gardens

Rain gardens featuring native trees and plants are attracting buyers because they offer protection from extreme weather that plagues many states. These gardens can prevent rain water from seeping into the basement. Rain gardens can even reduce flood insurance premium.

Outdoor lighting

Good outdoor lighting is one of the most desirable outdoor features. It is also a great landscape essential.

Thoughtful lighting enhances the aesthetic value of your house at night. It has several other benefits, too. Outdoor lighting makes your yard usable at night. It prevents falls. It also keeps intruders away. If your outdoor areas are well-lit at night, thieves will think twice before trying to break in.

Fencing

Fencing sets boundaries and creates privacy. It will keep intruders out and pets in. Fencing is unlikely to improve resale value, but it has several other benefits. However, nice fences do have some value.

Retaining walls

Retaining walls help reclaim sloped yards. They control soil erosion by slowing the flow of rain water down the slope. They also add color to vast stretches of green. If done correctly, terracing and walls can increase the curb appeal of your property and add resale value. However, walls can be quite pricey.

Walkways

Walkways welcome visitors to your home. They also increase the overall curb appeal of your property. You can use pavers or solid stone walkways. When it comes to walkways, getting too fancy can be counterproductive. On the other hand, if your walkways don't meet the standard of your neighborhood, you will see a drop in the value of your property.

How to Prepare Your Home for Showings

Your home should look as attractive as possible when potential buyers come to see it. If you can leave a positive impression on the buyer, you will get a better price for your property.

Here are a few tips to prepare your home for showings:

First impression counts

The first impression that your home leaves on the buyer is very important. If you can leave a positive impression, the visitor may as well turn into a buyer. The first thing you need to do is to keep the front part of your home attractive. If it looks great, buyers may actually want to see the inner parts as well. If the front portion doesn't look good, very few people will bother to venture inside.

If no one visits your home even after you have erected that 'For Sale' sign in the yard, there may be something wrong with the front part.

Clean the drive way. Mow the grass and water your plants. Add some potted flowers and plants to your garden. These small details will instantly make the home more inviting.

Make it look like they can move in immediately

Buyers should be able to move in immediately. At least that is the impression you should leave on them.

Take a second look at your walls

Overly bright colors might appeal to your taste, but they can put off many a potential buyer. Use neutral colors for your walls. If you have dark paints on the walls, the rooms may feel like a cave. By contrast, light shades make your rooms more spacious and lively. Also raise those blinds to let some sunlight in.

Get rid of those foul smells

Your home should look and smell clean. Smells are as important as looks. Foul smells will drive your visitors away. So, do whatever you can to get rid of bad odor. This is particularly important if you have pets. Stale air doesn’t smell good so keep the windows open whenever possible. Let fresh air enter the rooms.

Remove clutter

Clutter makes the space look cramped, so remove all unnecessary objects. If you have too much furniture, you should remove at least a few items. Also keep your closets and cupboards clean and orderly. Visitors might look in them. Remove collectibles and personal items like photos, trophies etc.

Invest in new furnishings

If your curtains and carpets are old, you should consider renting new pieces while you are showing the house. If the furnishings are new, the home may also look new. Also consider applying a fresh coat of paint. This is imperative if there are stains on the walls.

Artwork

Hang some paintings on the walls. If you do not have any artwork, you should consider buying or renting a few pieces.  Nice paintings add a touch of sophistication to the space. They also reveal that the owner has fine tastes.

Replace faulty fixtures

If you have lights that don't work, replace them. Buyers wouldn't want to replace the fixtures, so make sure that they are in working condition.

Hire home stagers

If your budget permits it, you should consider hiring home stagers. They know how to present your home before potential buyers. They will charge a fee, but in the end you will get a bigger price for your home. Besides increasing the selling price, home staging reduces the time it takes to sell the home.

Successful Staging for Fast Home Selling

The key to selling your home fast and at a good price is correct staging. We’ve compiled some staging tips for upgrading and styling your home to help you get the best results.

Enhance curb appeal. Often people considering having a look at your home will first do a quick drive-by. To ensure onlookers are not turned away, washing walkways and planting blooming flowers is a great idea. Cleaning front windows and repainting the porch floor can also add to curb appeal.

Make the porch appear inviting. Even if your porch is small, try to make it appear welcoming with blooming potted plants and a clean doormat. If there’s space, keep a couple of pieces of porch furniture. For the benefit of potential buyers driving by, keep the porch lights on after sunset.

Clean to a sparkle. Shining floors and gleaming windows can create a great impression. This is an easy way to help your home look its best. It’s a good idea to get pros in to do the job. The results will be well worth the expense.

Clear all clutter. It’s imperative for all clutter to go. This might involve temporarily utilizing offsite storage space but it’s worth the trouble. Potential buyers view clear surfaces, cupboards, and floors as more space, so get rid of anything unsightly or unnecessary.

Take a look at the floors. Clean the floors thoroughly and get the carpets steam cleaned. If wood floors are in poor shape, consider getting them refinished. If refinishing is beyond your budget, placing rugs strategically can save the day.

Rearrange furniture. Symmetrical arrangements usually look nice in living rooms. Move furniture away from the walls and make use of pairs of chairs, sofas, and lamps to build inviting conversation areas.

Select neutral colors. Avoid experimenting with "fun"-looking colors like lime green when you’re planning to sell. This doesn't mean an all-white appearance. Rich neutral colors like mocha create sophisticated backdrops which make everything look more integrated.

Keep the master bedroom gender-neutral. Try to create a general appeal with a neat master bedroom that’s free of clutter and personal items. With tasteful artwork, crisp, clean linens, and a neatly folded blanket on the bed, you’ll never go wrong.

Make closets appear spacious. Buyers are quite likely to peek into your closets. Often, closet space proves to be a make-or-break point for buyers, so make sure yours appear spacious by getting rid of excess stuff. Aim to have 20-30% open space within each closet.

Keep toys neatly. Even though people looking at your home might have their own kids, having toys strewn all over is not likely to sell them on the house. People who are house hunting are generally looking forward to a fresh start. Try showing them that in your house, having a well-organized kids' room is possible, and they’ll possibly be swayed.

Use "extra" rooms judiciously. It’s time to change things if you’ve been using a spare room as a dumping space. Each room must have its own clearly defined purpose. Consider what potential buyers might like to have – a study or a guest room? Converting a junk room into a real room is sure to result in a big payoff.

Remember, you can always rely on a free home valuation report from Neighborhood IQ to help you in the selling process. Also, the Home Loan Advisor can analyze your property, current market conditions, local market comps, and other variables in our proprietary algorithm, and match you with potential lenders.