Here at The Garner Group Real Estate, our team collectively has decades of experience in the ever-changing real estate market. So what happens when we put our heads together to come up with some tips for buyers and sellers? Practical advice borne from our in-the-trenches experience. Keep these common sense tips in mind when you are looking at buying or selling in today’s real estate market.
TOP FIVE RECOMMENDATIONS FOR SELLING A HOME
• Number Five: Do the Repairs
If you know what home repairs need to be completed, do them before you list your home for sale. If not, take the initiative and have a home inspection done on your dime. The inspector may find things you weren’t even aware of, and fixing them could help you close a sale when it comes right down to it.
• Number Four: Curb Appeal
Clean up the outside. Curb appeal and first impressions are literally enough to make or break a sale. If buyers don’t like what they see when they first pull up, it is unlikely that they will even come inside, or – if they do make it inside – their minds will already be made up on the property. And it won’t be in your favor.
• Number Three: Price It Right
Listen to your agent – he or she is an expert in market values in your area. Do some research and market analysis on your own and you’ll have a good chance at landing on a fair price that will move your home quickly. Markets are always shifting and changing so having someone whose scrutinizes the real estate industry daily on your side is a big plus.
• Number Two: Make it Smell Nice
Get a thorough cleaning by a professional before you list your home. This will give you a good starting point as you keep your home at “showable” quality throughout the sales process. If someone walks in a house that isn’t clean, or smells bad, it is an instant turnoff. Make sure there are no pet odors and that garbage has been taken out regularly. Our sense of smell affects every other sense in the body – including the desire to buy (or not buy) a home.
• Number One: Clear the Clutter
Far and away, the number one piece of advice from experienced agents to home sellers: clean up your act. De-clutter, organize, get rid of your personal belongings – even if you have to rent a storage unit. Buyers want to envision the home with their own things inside of it, and that’s hard to do if a seller’s items are strewn all about.
TOP FIVE RECOMMENDATIONS WHEN BUYING A HOME
• Number Five: Know Your Real Estate Plan
While none of us has a crystal ball for the future, we can usually guess at how long we plan to stay in a home. Do you plan to raise a family there for the next couple of decades? Are you hoping to retire soon? There’s a huge difference between buying your lifelong dream home or buying an investment or “stepping stone” home to stay in for a couple of years. Many are willing to let go of some of their “wants and needs” (see number one) for a home that they won’t be staying in for the rest of their lives, while a longer term home might have fewer negotiable points.
• Number Four: Find the Right Mortgage
It’s vital to be prequalified for a mortgage before you start looking for your home. Take the time to interview more than one lender to find the best fit for your personal situation. Deciding to use a lender who you trust and who will take the time to understand you and your needs will increase your level of comfort with the entire purchaseprocess. And yes, a low interest rate is an important piece of the puzzle – it can help you save thousands over the life of your loan.
• Number Three: Stick to Your Budget
After you select a lender and become pre-qualified for a home loan, you will have a very good idea of what your budget is for your new home. The likelihood is that you will have several options to choose from within your price range. For example, someone pre-approved for around $275,000 could be looking at everything from a close-in condo to a small home out of town with a little bit of land. The market changes quickly, but knowing your budget will help you narrow down your choices and keep you on sound financial footing.
• Number Two: Find the Right Agent
Youwill need the right person working side-by-side with you through your home buying adventure.In our Bend office alone, we have agents from all different backgrounds, who have had all different life experiences.Most agencies will list their broker’s bios and photos on their websites, so you can start there. Ask your friends and colleagues for recommendations. Find someone with a personality that fits you, your “real estate soul mate” is out there!
• Number One: Make a List
Our agents all agreed – a complete list of wants and needs is a key part of the process. Consider things like number of bedrooms, home square footage, location, size of garage, lot size, sustainability, school districts, amount of natural light and more. Visit open houses and take note of what you like and dislike to help with your list. Classify each item in “wants” or “needs”, order them in importance,and then discuss the reasonability of the list with your agent. Most agents say buyers should expect to find a home that fulfills about two-thirds of the items on their lists.
It’s a great time to look again at the Central Oregon real estate market!
Sara LaFaver is managing principal broker at The Garner Group Real Estate,
541-383-4360
