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Home Improvements That Increase Home Value

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If you’re looking to sell your Sunset Beach home you probably want to get the very most profit from it. You can do this by tackling some very simple home improvements that can really boost the value of your home. Here are five ways to improve your home’s value and potentially increase the profit you’ll get when you sell.

#1. Curb appeal.Home Improvements That Increase Home Value

Living on the coast means we have access to some of the best foliage on the planet. Make sure you highlight that foliage, especially to people that might be moving here from the mainland. Make sure your trees are well trimmed, there’s no bushes or shrubs touching the house, there’s an easy pathway to the front door and you prepared any cracks in concrete, faulty steps or front door woodwork.

#2. Update lighting fixtures.

If you’re still living in the 1980s with your bathroom lighting fixtures, it may be time to upgrade. Simply spending a couple hundred dollars on new lighting fixtures with a more modern twist can it not only improve the light in a room but can update the space quite substantially.

#3. Keep each room as its original usage.

If you’ve moved an office space into the dining room, a playroom in the formal living room or used a room for something other than the original purpose it’s time to move it back. Keep bedrooms as bedrooms or as a decorative office, set a nice dining table in the dining room and make sure the living room or formal living rooms are staged appropriately.

#4. Update anything that buyers feel they’ll need to address when they move in.

This could be a textured ceiling, older faucets, and fixtures, outdated paint styles or paneled walls or simply repairs that of never been completed. You don’t want buyers to think about all the things they have to do when they move in. You want your home to be move-in ready to appeal to the most amount of buyers.

#5. Remove old window treatments.

Unless your window treatments are updated and high-end, it may be time to remove them and simply let the natural light of the island shine through each room.

There are simple ways to update and improve your home and if you want the most from the sale of your property, it certainly is worth the time and energy to update these items before listing.

If you have more information about listing your NC Coastal home or how to stage your particular property please feel free to contact us at any time.

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Image by Sarah Chambers Flickr

Is it a Bad Thing if Your Home Sells Too Fast?

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It seems like real estate agents can’t win; if the home doesn’t sell, the agent mispriced it or did something wrong, if the house sells too fast it wasn’t priced high enough. But, should we really freak out or second-guess ourselves if the house sells quickly?Is it a Bad Thing if Your Home Sells Too Fast?

It all depends on what type of market we’re talking about. In a seller’s market, homes can sit on the market anywhere from 24 hours to 24 days or more depending on how the home is priced and if it is staged appropriately. If the home sells quickly, a lot of homeowners think the underpriced the house and assume they could’ve gotten more for the sale, but that’s not always the case. If the home is priced correctly, once it hits the market, buyers should be attracted to it naturally.

Many buyers have been waiting for the right house to hit the market and if your house meets their search criteria and price, boom! You have yourself a sale.

There’s also the other tactic of underpricing a house to get more interest. This could result in multiple offers and it selling for a list price. This is a risky move, however, and it depends on the market and how much demand there really is for homes in the area.

What homeowners need to realize is that they need to be prepared to move fast as well. Buyers are aggressive and if they’ve been looking for a long time, they’re more likely to jump on a house when it hits the market. This is not the time for a seller to freeze up. Any delay could cause a buyer to go elsewhere. It’s not advantageous to stress over pricing a house too low. A great real estate agent should know the market and price it correctly from the beginning. Just because you got a fast sale doesn’t mean the house was underpriced. Even if it was $5000 higher, you may not have gotten that sale.

If the home as well presented and priced correctly, you’re sure to get quick buyer interest. It’s too stressful to be on the edge of whether you’re going to get a sale or not. It’s better to get that contract negotiated and tied up as quickly as possible so everyone can move on to the next step.

If your home sells quickly don’t stress; count your blessings. The agent knew exactly what to do to get buyers in the door and an offer on the table quickly.

Give us a call today if you have questions about buying or selling throughout Sunset Beach and surrounding areas.

Mistakes Many Sellers Don’t Even Know They Are Making

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Mistakes Many Sellers Don't Even Know They Are Making

We have talked to dozens if not hundreds of homeowners over the years that want to sell their property and are looking to do it quickly, efficiently and of course, for the most profit possible. But nine times out of 10 many of them are making a lot of mistakes along the way that they don’t even know.
Here are some very simple and common mistakes many homeowners make when they list and sell their property.

The agent can still receive a commission if they bring a willing and able buyer and the sellers choose not to accept the offer.

The homeowner is legally required to pay a commission even if they don’t sell the property but the agent brought a willing and able buyer. This might sound crazy but think about it. As an agent, I bring in a buyer that can legally and financially buy the property and at a full and honest price. If the seller decides not to sell to that buyer, the agent still should receive the commission because they have done their original job. Of course, there are always stipulations and unusual circumstances and the homeowner does have the right to refuse an offer, but the job was to sell the property and that is what the agent is trying to do. If the offer is too low or there are a multitude of problems with the buyer, the seller can reject the offer and hope for another. It’s a muddy situation but the goal is to sell the property and when it’s all said and done, ready to close and the seller just changes their mind, the agent is still due the commission. 

[Read More: 5 Questions to Ask Your Realtor®]

 Not disclosing everything you know about the house.

This is like cheating on your taxes. You can’t just conveniently leave out some minor damage the house had a few years ago or neglect to mention you didn’t have the septic tank pumped. If found out the homeowner could be seriously affected by a lawsuit or be out a lot of money in repairs. It’s best to just be honest and upfront. If the house has had a flood, tell them. If it’s had major renovations or repairs, say it. If it has lead paint and you know you, you have to say so.

[Read More: The real cost of selling a house]

Not planning the sale around tax benefits.

Forbes magazine said it best, “even a sale miss schedule by one day can cost you tens of thousands in extra taxes. Don’t be left a day late and many dollars short. Make sure you talk to your accountant to find out if any long-term capital gains tax breaks apply to you, and check your calendar to determine when they come into play.” [Forbes]

[Read more: Easy Tips to Make Every Room More Appealing to Buyers]

Of course, many sellers make simple mistakes such as overpricing their home, not doing proper cleanup or staging the home before listing, but these are items that most agents should inform their sellers of before listing. Homeowners can get lazy on the staging, especially if the home has been on the market for some time but it’s important to keep the home properly staged and clean because you never know when you might get a buyer.

For more information about selling your home in Brunswick Islands or Sunset Beach and the surrounding communities contact our office today.

Cost of Selling a House

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How much does it really cost to sell a house these days? This is one of the first questions I get asked when discussing listing a property with a homeowner. They want to know how much this is going to cost them and although there are additional Realtor® fees when listing and selling with an agent, there are still some costs related to selling regardless of how the homeowner actually sells. Here is the cost of selling a house.Cost of Selling a House

After the housing crash in 2007 and 2008, we saw a lot of sellers paying buyers closing costs, especially for first-time homebuyers. However now, in the North Carolina real estate market, having a seller pay for closing costs could mean that the buyer will have a low appraisal. In a sellers market, homeowners typically accept over asking price offers, and if the asking price is already inflated, adding closing costs to the final number could seriously affect the appraisal. The appraisal may come in too low to cover the additional costs. This is why having a buyers agent and a sellers agent working together to negotiate for the proper value is essential.

Closing costs are not mandatory for the seller to cover unless the buyer is getting a VA loan. All VA loans require the seller to pay closing costs for both the buyer and the seller. This could include lender’s fees, courier costs, escrow and title fees and any other additional fees incurred with the purchase and sale contract.

How to Attract Luxury Home Buyers

Unless you are planning on selling the home yourself, you will incur real estate agent commissions. This is typically 5% to 6% of the total home purchase after the deal finalizes. Real estate agents will usually split the commissions down the middle between the agent that brought the buyer and the agent that listed and sold the property, however, this can be the same agent and the percentages could be slightly unbalanced. For instance: the listing agent could agree to accept 2% of the commission while the buyer’s agent receives 4% of the commission.

When selling a property, the homeowner will incur a prorated share of property taxes and potentially homeowners fees when they sell. Depending on when the homeowner sells and when taxes were paid, this could be a very small amount or a large amount if the due date is close by. Some states may be charged a local transfer tax as well to transfer the title from one homeowner to another. This taxes generally 0.01% to 2% of the sales price.

Read more: How to Clear Leins When Selling

Capital gains taxes may also be incurred if you make a profit on your home more than $250,000 for singles and more than $500,000 for married couples.

Title insurance. There are several types of title insurance that are purchased during the purchase and sale contract. Buyers will purchase their own title policy if they apply for a mortgage, but this only protects the lender. The seller will purchase a separate policy for the new homeowner and this could cost anywhere from $500-$1000.

Mortgage payoff. If you still owe money on your home you will need to pay off your current mortgage when you sell. The payoff amount could be different from the actual balance listed on your statement due to interest charges. You will need to get a formal letter stating the exact payoff amount so that escrow can facilitate this when you close.

Optional costs to selling your home include a home warranty, paying for staging, home repairs and any replacements needed. These may be included as enticements to get the property sold.

For more information on selling your specific home and exactly how much it would cost contact our office today.

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