Category Archives: home selling

5 Reasons Why Homes Don’t Sell

Why Home Don't Sell

 

Listing your home for sale is stressful. Not being able to sell it is even worse.

If a home doesn’t sell in 6 months, there’s a problem and it needs to be fixed.

Today we’ll discuss the top 5 reasons why a home doesn’t sell.

 

1. CONDITION – Homes that don’t sell often have a few maintenance or cosmetic issues that the seller decided to “put off” as they didn’t want to spend the money. These sellers feel that the buyer can “deal with it” or build it into their offer.

Buyers, however,  gravitate towards well maintained homes. In their minds, it’s a safer and easier option.  Most simply don’t want the hassle of having to do work to a home.

For the few that are willing to, they will estimate needed improvements to cost 3-5 times more than they actually do.

The next thing you know,  a house that may only need $4000 worth of work will seem like $12,000-20,000 in the mind of a buyer.

Fair or not, that’s how they think and failure to address the condition of your home will either create low ball offers or cause buyers to find a comparable home that doesn’t need the work.

2. THE AGENT – If a house doesn’t sell in 6 months, maybe you hired the wrong agent.

Perhaps your agent is a friend or family member who doesn’t specialize in your market area or is afraid to be truthful about your house for fear of jeopardizing your relationship.  Maybe your agent works primarily with buyers, and listing homes isn’t their strength.

Whatever the reason, you need to remember that this is a business transaction and your agents ability to sell your biggest asset needs to be re-evaluated.

Your agent may be working very hard to sell your home, but if what they’re doing isn’t working, they may be part of the problem.

Remember, not all agents are created equal.  You need to hire one who can get the job done.

3. PRICE – Some say that price isn’t the only thing, it’s EVERYTHING.

While improper pricing isn’t always the reason a home doesn’t sell, it is such an important factor that it needs to be discussed.

For starters, how did you come up with your price? What are similar homes selling for? Is there statistical data to support your price?

There are formal ways to price a home correctly, but unfortunately, many sellers don’t take this approach. Too often a seller will price their home according to how much they want to get out of it. Or, they will take what they paid, add up all the money they’ve put into it, and use that number.

Better yet, some sellers base their price on ego, thinking “well if so and so got this for their house, I should get more for mine because ours is way nicer.”

Here’s the deal,  every seller thinks they have the nicest house ever built and that a buyer should pay them what they want for it.

Buyers have a different mindset. They could care less about what you want to net from your sale or how much your home is worth in your mind. They will, however, be willing to pay fair market value and if they feel you want more than that, they will buy another house.

At the end of the day,  you need to emotionally detach yourself from the situation and come up with a fair listing price.

4. TOO MANY DAYS ON MARKET – If a home has been on the market for too long, it becomes stigmatized and passed over by solid buyers.

One of the common questions buyers ask their agent is “how long has this home been on the market?” The longer it’s been on, the more likely a buyer will question why. Is there something wrong with it? Why hasn’t anyone else bought it?

Buyers like to make safe choices and a home that has been lingering on the market for a long time, or one that never sold is viewed as risky.

For sellers whose homes have been on the market too long, our suggestion is to take it off then put it back on with a fresh approach. Perhaps some cosmetic updates, a new agent or lower price.

If you re-list your home at exactly the same price, with the same agent and in the same condition, well, you’ve heard the definition of insanity, right?

5. THE SELLER! – A seller is often their own worst enemy.

They often blame the buyers for not choosing their home. “They are too picky”, you say. Well sellers, maybe it’s YOU.

YOU won’t fix broken items, YOU insist on listing at a price YOU came up with, or YOU insist on taking advice from your brother who just sold his home in New York and therefore knows more than your local agent.

Some sellers get in their own way and don’t realize it until it’s too late.

The bottom line is, if your home didn’t sell or isn’t selling, you have a problem and need to deal with it.

It may be hard for you to admit, but refusing to address it will cost you money.

Selling a home isn’t rocket science, people do it successfully every day. So identify your problems, fix them, and go successfully sell your home so you can move on with your life.

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ABOUT THE AUTHORS

The above information is compliments of The Schuman Team, Amy and Dan, of Howard Hanna Real Estate Services. They specialize in Solon luxury homes, relocation, and first-time buyers.

They can be reached at 216-346-3235 or 216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

The Schumans service the following Cleveland area suburbs: Aurora, Bainbridge, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Woodmere. We would be happy to refer you to a qualified agent if you are buying in an area that we do not service.

5 Reasons Why Homes Don’t Sell is the property of The Schuman Team and may not be duplicated or used without their written consent.©November, 2015

Why Solon Ohio Homes Don’t Sell

Why Home Don't Sell

 

Selling a home is a daunting task. It takes many steps to find that right buyer, and even more to get them to closing.

Today, we are going to discuss the main reasons sellers fail to sell their homes.

LACK OF A PLAN

People think that selling a home merely entails sticking a sign in your yard and entering it into the local multiple listing service ( MLS ).

Selling a home is a complex process, one that consists of dozens of steps and a lot of preparation. It is hard work.

Typically, about 55-60% of homes listed by an agent in our market of Solon end up selling during their initial six month listing period.

Those statistics may differ depending on the demand of the area in which you live, but the point here is there are no guarantees. So, it is critical to have a solid game plan before that sign goes up.

The first step is hiring an experienced agent who has a proven track record and comprehensive marketing plan.

NO STAGING

Depending on the home, sometimes more work goes into staging ( preparing ) the home for the market than any other step of the process.

If you are not familiar with the term Staging, here is a good link.

Staging entails getting the home ready to be shown to buyers. This means getting rid of clutter, personal items, and neutralizing any strongly decorated rooms.

How you live in your home is different than how you need to present it to the public. Also, with the popularity of the internet, how your home will appear in photos must be taken into consideration as well. Your first showing will be on line, so it needs to look as appealing as possible in the pictures.

AWFUL PICTURES

As we just mentioned, your first showing will be on line as that is the most popular way potential buyers look for homes.

Therefore, having professional pictures is one of the most important things you can do, and something many agent don’t offer this to their clients.

A lot of sellers don’t know any better and are ok with an agent using their iPhone to take pictures. Don’t accept this.

We encourage potential sellers to go on line to popular sites like Realtor.com or Zillow.com and check out the variety of pictures being used by agents to market their listings. They should also check out the photos used by agents they plan to interview to see what they can expect.

You will notice the homes with great pictures come across as more desirable.  Nothing is less appealing to buyers than seeing pictures of homes that are dark and blurry.

It actually amazes us that many well respected agents use mediocre photos to market their listings. This is a huge disservice to a home seller, so our advice is to make sure professional pictures of your home are being used.

OVERPRICED

Pricing isn’t just important, it’s everything. If your home isn’t priced correctly, buyers will buy something else.

We understand that no seller wants to just give their home away. Everyone wants the most they can get, and we don’t blame them for feeling that way. I would want the same thing if I was selling my own home.

In order to come up with a good asking price, go over statistics with your agent, compare your home to similar homes that have recently sold, and visit competing homes to see how they compare to yours.

Overpricing a home will cause you to lose out on buyers and end up helping your competition.

Whenever we see a home linger on the market for a long time, it is usually because it is not priced right.

Selling a home can be a difficult and stressful process. If you avoid the mistakes that many sellers make, you will give yourself an excellent change for success.

 

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ABOUT THE AUTHORS

The above information is compliments of The Schuman Team, Amy and Dan, of Howard Hanna Real Estate Services. They specialize in Solon luxury homes, relocation, and first-time buyers.

They can be reached at 216-346-3235 or 216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

The Schumans service the following Cleveland area suburbs: Aurora, Bainbridge, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Woodmere. We would be happy to refer you to a qualified agent if you are buying in an area that we do not service.

Why Solon Ohio Homes Don’t Sell is the property of The Schuman Team and may not be duplicated or used without their written consent.©August, 2015

Should My Listing Agent Attend Showings

Should A lister atend showings

 

We are sometimes asked by our seller clients if we will be at the home to accompany all buyer showings. Our simple answer is “no”, but there’s a good reason and today’s post will explain why it is a bad idea.

MAKES BUYERS UNCOMFORTABLE

You want the environment to be welcoming to a buyer so they have a pleasant and productive showing. They should be able to walk through a home and envision themselves living there.

They will often talk amongst themselves or even openly with their agent about the good and bad features of any given home. Maybe they’ll feel so good about a particular house they’ll sit down on a couch and make themselves at home. The longer they stay, the better.

If a listing agent is there, buyers will feel on edge and less likely to want to spend more time than necessary in the home. They will be guarded in what they say to each other for fear the other agent may relay it to their sellers.

Overall, a listing agent present will make buyers feel uneasy as they are viewed as the opposition and simply not wanted there.

BUYERS DON’T WANT THE HARD SELL

Many sellers will respond “but who will be there to point out special features and sell them our home?”

A good listing agent will prepare in home marketing material to highlight the best features of a home as well as give information about the neighborhood and community.

This allows the buyers to discover for themselves all the great things a home has to offer. The buyer’s agent will also offer insight and share their knowledge as well.

However, NO ONE wants a pushy salesperson telling them why the home is right for them. They need to come to that conclusion on their own accord. At the end of the day, choosing a home is an emotional decision that cannot be forced.

Think back to a recent trip you had at a department or furniture store. Have you ever wanted to just browse, yet an aggressive salesmen wouldn’t leave you alone. Annoying isn’t it? A buyer will feel the same way if the listing agent attends the showing.

MORE HARM THAN GOOD

Having a listing agent at a showing may end up hurting the seller in the long run. To begin, unless a home is priced over a million dollars, it is highly unusual for a listing agent to accompany a showing here in Northeast Ohio.

That being the case, what does it say about a seller who requires their agent to be there? That they are difficult? Controlling?

What if your agent turns off the buyers? Perhaps the showing would have gone much better had your agent not been there giving the aggressive sales pitch.

What about easy of showings? It’s hard enough to plan a showing around a buyers’ busy schedules. If the listing agent also has to be there, it makes things even more difficult. There is a good chance a seller will miss out on showings by requiring their agent to attend the showings.

When it comes to selling your home, you need to think twice before instructing your listing agent to attend all showings as it is not in your best interests.

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ABOUT THE AUTHORS

The above information is compliments of The Schuman Team, Amy and Dan, of Howard Hanna Real Estate Services. They specialize in Solon luxury homes, relocation, and first-time buyers.

They can be reached at 216-346-3235 or 216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

The Schumans service the following Cleveland area suburbs: Aurora, Bainbridge, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Woodmere. We would be happy to refer you to a qualified agent if you are buying in an area that we do not service.

Should My Listing Agent Attend Showings is the property of The Schuman Team and may not be duplicated or used without their written consent.©July, 2015

How To Survive A Seller’s Market

 

 

While many areas are still a tad slow, there are others that are incredibly active. In Fact, some suburbs, and more specifically, certain price points in these suburbs, are so hot they are seeing bidding wars.

With things no longer favoring the buyers, consumers need to know how to approach a seller’s market if they plan to achieve their goals.

WHAT IS A SELLER’S MARKET?

In basic terms, a seller’s market means there are more buyer’s then available homes for sale. Prices tend to increase in this type of market and obviously favor the seller.

So how do we know it’s seller’s market?  While the number of homes for sale can be easily defined and found on just about any home search site, the amount of buyers in a given price point is a little trickier to figure out.

As agents, we are privy to figures given by our local office. So, I know statistically that the amount of showings on our properties is up 25% from a year ago. Furthermore, I know from our recent sales that if I listed a home for between $300,000-$400,000 in certain suburbs, I will likely get 15-20 showings in the first week that it’s on the market ( and likely a quick sale ).

So, with our finger on the pulse of the local market, we are aware that some areas are starting to favor the sellers.

Another way to gauge a “hot” market is to look at how long it is taking for homes to sell ( days on market ). If you are seeing a lot of homes in specific areas sell within the first 30 or even 15 days, this is a good sign it is a seller’s market.

With that being said, we have put together some helpful hints to surviving a seller’s market.

 

FOR BUYERS

1. Get pre-approved up front

2. See homes as soon as they come on the market

3. Make an offer ASAP

4. Make a strong offer ( sometimes over asking price )

5. Work with an agent who knows the local inventory

FOR SELLERS

1. Prepare and price home to sell quickly

2. Prepare game Plan For Handling Multiple Offers

3. Be Ready To Move Within 30-90 Days

4. Don’t Be Afraid To Buy BEFORE You Sell

5. Be Smart – Just because the market has improved doesn’t mean you should be cocky and arrogant.

One of the most important thing that both buyers and sellers can do is hire an experienced agent. They will likely have worked in different types of market environments and be able to give you great advice.

The market has indeed shifted and if you aren’t prepared, you could be left out in the cold.

 

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ABOUT THE AUTHORS

The above information is compliments of The Schuman Team, Amy and Dan, of Howard Hanna Real Estate Services. They specialize is luxury homes, relocation, and first-time buyers.

They can be reached at 216-346-3235 or 216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

The Schumans service the following Cleveland area suburbs: Aurora, Bainbridge, Bay Village, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lakewood, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Westlake, Woodmere.

How To Survive A Seller’s Market is the property of The Schuman Team and may not be duplicated or used without their written consent.©May, 2013

The Pitfalls Of Selling A Home

 

 

Selling a home is a big decision that comes with a few headaches. While we certainly aren’t discouraging anyone from listing their home, especially since the market has improved, we just want you to know what to expect as you open up your home to local real estate agents and the public.

I CAN’T BELIEVE THIS HAPPENED

When we meet with sellers, we are very up front about the selling process so there aren’t any surprises.

One of the most frustrating things for sellers is the actual showing process. In order to have the home ready to show, a lot of time and effort is made in terms of cleaning and getting everyone out of the home. Nothing is more aggravating to a seller than having all of this effort go wasted.

The following is a list of things that can happen with regards to a showing. The agent:

1. Cancels the appointment at the last minute

2. Shows up early or late ( catching you by surprise )

3. Fails to show up

4. Leaves the doors unlocked

5. Let’s a pet loose

Then you may have cases where a buyer or their agent uses the bathroom and forgets to flush the toilet, or worse, their little kids make a mess. Also, while it hasn’t happened to us very often, things do get broken.

Sounds like a lot of fun, huh? We haven’t even discussed public open houses.

STRANGERS IN YOUR HOME

When an agent makes an appointment and comes through with a buyer, there is some sort of accountability. The buyers are also typically screened and deemed serious. A public open house is entirely different.

For starters, open house attendees are usually not as serious as those working with an agent,  typically 6-18 months away from making a buying decision. There are also more risks of opening up your home to anyone as you never know who will show up. It could be neighbors, friends, or total strangers walking through every inch of your home.

For the most part, the people who attend open houses are good honest folks. However, not all attendees have the best of intentions. So in the interest of security, we always recommend that our sellers hide any guns, prescription drugs, and valuables, just in case.

EMOTIONS IN MOTION

The entire selling process can be also play a heavy emotional toll on the entire family.  First, many sellers have spent a long time in their homes and have a lot of wonderful memories. They are often sentimentally attached to their home and many of the personal touches they have made over the years. The thought of leaving it can be unsettling.

Also, moving can be unnerving to children, especially those not entirely happy with the move. Local moves are a bit easier but the thought of leaving behind friends and neighbors is certainly stressful.

Overall, selling a home is a bit chaotic. However, it is usually a necessary evil so you can move forward with the next chapter of your life. Proper planning and having a great agent can make a huge difference.

 

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About The Authors

The above information is compliments of The Schuman Team, Amy and Dan, of Howard Hanna Real Estate Services.

They can be reached at 216-346-3235 or 216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

The Schumans service the following Cleveland area suburbs: Aurora, Bainbridge, Bay Village, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lakewood, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Westlake, Woodmere.

The Pitfalls Of Selling A Home is the property of The Schuman Team and may not be duplicated or used without their written consent.©February, 2013

 

Do Open Houses Sell Homes?

 

 

Despite what consumers may think, open houses are less effective at selling homes than in the past. In fact, less than 1% of home buyers actually found their home through an open house. (*statistics provided by NAR, 20112 profile of buyers and sellers. ) However, there are still benefits of having them that could make it well worth the effort.

TIMES ARE A CHANGING

Buyers today see less value of an open house. Before the “net”, the easiest way for a buyer to see the inside of a home was to actually go in person. Therefore, attending a Sunday open house was critical.  In fact, this is how we bought our current home. We looked in the Sunday newspaper, saw which homes were open, and went to see them.

Now, with so much information available on line, potential buyers are doing a ton of research on homes using their laptops or even smart phones. They are basically eliminating homes they see on line that in the past, they would have likely seen by attending an open house.

The role of the listing agent acting as the sole “gatekeeper” of getting into a home has also changed. The evolution of buyer’s agency, where a buyer can have their own representation, makes buyers less dependent on going to a Sunday open house.

Also, the lifestyle of today’s buyer is very hectic and many don’t want to spend their time driving around seeing homes. Therefore,  the buyer’s agent ends up doing a lot of the leg work and screening of homes in advance. When a home is deemed worth a look, the buyer’s agent schedules the showing for a day/time that is convenient to the buyers, not necessarily on a Sunday.

WHY HAVE AN OPEN HOUSE?

Open houses still have their place. From a listing agent’s perspective, they owe it to their sellers to make sure they are doing everything possible to market their home. Even if only a few people show up, it’s still better exposure for the home then doing nothing.

A listing agent can also grow their business by having open houses.  Many buyers who actually attend a Sunday open house are not quite ready to buy.  They are more casual lookers, typically 6-18 months away from making a buying decision. However, they will buy at some point and this is a great opportunity for the agent holding the home open to earn new business. Basically, the open house is like bait on a hook to reel in buyer leads.

It’s also good for a busy buyer’s agent. If an agent is with one set of buyers on a Sunday, and another buyer wants to see a particular home, sending them to a home that is open makes things convenient.

Also, although it’s hard for me to believe, some people simply don’t like real estate agents. There are a small percentage of buyers who will refuse to work with a buyer’s agent, but they still want to see homes. These buyers end up utilizing the Sunday open house to find a home and work directly with the listing agent.

For the most part, an open house won’t likely sell that particular home. However, they still serve a purpose for acting as a catalyst to bring buyers and sellers together.

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About The Authors

The above information is compliments of The Schuman Team, Amy and Dan, of Howard Hanna Real Estate Services.

They can be reached at 216-346-3235 or 216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

The Schumans service the following Cleveland area suburbs: Aurora, Bainbridge, Bay Village, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lakewood, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Westlake, Woodmere.

Do Open Houses Sell Homes is the property of The Schuman Team and may not be duplicated or used without their written consent.©February, 2013

Selling Your Home In The Winter

 

 

Regardless of the season, you still have only one chance to make a positive impression. If you end up selling your home during the winter, there are things you can do to help your home stand out.

5 Things To Do To Stand Out

1. Exterior Photo – If possible, have the exterior shot done immediately after a snowfall. A fresh snowfall on the trees and ground can really make the home “pop” in a picture.

2. Twilight Photo – With the light reflecting off the snow, a twilight shot can look very cool. You will need sufficient exterior lighting to do this, however.

3. Clear Driveway and Sidewalks – Nothing is worse for a buyer than having to walk through snow and ice to see a home. Having your driveway plowed is one thing but taking the extra step to salt and clear the driveway and all walkways will make a great impression on potential buyers. They will notice and appreciate your efforts, and think you take just as good care of your interior.

4. Keep Interior Warm – When showing your home in the winter, make sure it is kept at a warm temperature ( 70-72 degrees ).  If your home is cold a potential buyer may think it is not insulated properly, or that you are cheap. If they think you are cheap, they will question the care you have taken of your home. Overall, it put buyers in a negative mindset.

5. Play It Up – Pretend you are entertaining for a big holiday party. Have the fire going, put on some music, make it so warm and inviting that a buyer won’t want to leave.

Winter can be a good time to sell. There is less competition and buyers who go out in the cold and snow are typically very serious.

If you do end up selling during the winter months, following these tips will help you get maximum value for your home.

 

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About The Authors

The above information is compliments of The Schuman Team, Amy and Dan, of Howard Hanna Real Estate Services.

They can be reached at 216-346-3235 or 216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

The Schumans service the following Cleveland area suburbs: Aurora, Bainbridge, Bay Village, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lakewood, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Westlake, Woodmere.

Selling Your Home In The Winter is the property of The Schuman Team and may not be duplicated or used without their written consent.©February, 2013

Home Warranties – Why They Are Important

Having a home warranty is important not only for buyers, but for sellers as well. If you are buying or selling a home, you may regret not investing a relatively small amount of money to have one. In this post, we will explain what home warranties do and why you should get one.

THE PURPOSE OF A HOME WARRANTY

A home warranty covers you in the event appliances or major systems break down. In most cases, a warranty will cover things that your typical home owners insurance policy does not. Having both a comprehensive home owner’s insurance policy and a home warranty will provide you will excellent coverage.

Most homes experience issues pertaining to mechanical systems and appliances on a regular basis. It could be once a year or every few years, you just never know when something will happen. That is why having the protection of a home warranty is a smart thing to do for both buyers and sellers.

FOR BUYERS

1. CONVENIENCE  – When covered by a warranty, you will have access to qualified contractors simply by calling an 800 #. This is especially nice if you are new to the area.

2. LONG-TERM PROTECTION – While a seller will typically pay for the first year of a buyer’s home warranty, the buyer has the option of renewing every year. As your home ages, the likelihood of a problem increases. So for the long term, having a warranty can be a huge help.

3. PEACE OF MIND – There is a tremendous feeling of knowing you will be covered if certain problems arise.

FOR SELLERS

1. COVERAGE WHILE ON THE MARKET – You will get covered during the listing period and NOT have to pay for the policy until closing.

2. STAND OUT FROM COMPETITION – Offering a home warranty may entice a buyer to purchase your home over another that is not offering one.

3. ELIMINATES PROBLEMS AFTER CLOSING – If a problem arises after title transfer, it is better for the buyer to contact the warranty company instead of you.

DO I REALLY NEED ONE?

We are not here to tell you what to do. But based on the chart above, claims are certainly a common occurrence. In fact, we get emailed every time one of our clients has a claim paid by the warranty company, and it seems like it happens all the time. From an agent’s perspective, I do feel it provides tremendous value to both buyers and sellers.

When it comes to buying or selling a home that costs hundreds of thousands of dollars, spending $400-500 on a home warranty seems pretty minimal. If you think of a warranty as more of an investment than an expense, it will hopefully make  more sense.

 

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About The Authors

The above information is compliments of The Schuman Team, Amy and Dan, of Howard Hanna Real Estate Services.

They can be reached at 216-346-3235 or 216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

The Schumans service the following Cleveland area suburbs: Aurora, Bainbridge, Bay Village, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lakewood, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Westlake, Woodmere.

Home Warranties – Why They Are Important is the property of The Schuman Team and may not be duplicated or used without their written consent.©February, 2013

Why Wait For Spring, Act Now!

 

During this time of the year, people always ask us if they should wait to make a move until the late spring or summer market, when things are more active. This is a very common question and the answer we give may surprise you.

WAITING COULD BE COSTLY

There are very good reasons why delaying a move may not be in your best financial interests. Here are some things for you to think about, whether you are a buyer or seller.

HOME BUYING

1. Rates Are Historically Low – Waiting until late spring or summer may cost you as rates may inch upwards. While no one knows what will happen, rates can’t stay this low forever.

2. Some Sellers Are Motivated – There is an inventory of homes that didn’t sell during the summer/fall market. These are perfectly nice homes that were simply overpriced.  Many sellers are now much more willing to sell than they were when their home originally went on the market. Some have moved out of the area and others have found homes they would like to buy.

3. Home Values Are Rising – Recent market statistics show home values in many Cleveland area suburbs beginning to go up. Buying when values are lower certainly makes sense.

HOME SELLING

1. Inventories Are Low – The number of homes for sale throughout the area is ridiculously low. As a result, we have seen a ton of multiple offer situations, where buyers are fighting over the same home. Waiting means that you will likely have more competition.

2. Rates Are Great – Ok, we already said this for buyers, but the same can be said for home sellers as well. The lower the rates, the higher the number of buyers that qualify to buy your home. Why risk a rate increase and lower buyer pool?

3. Uncertainly – We do know that low rates, a slowly improving economy, and low inventories exist today. What we don’t know is what things will look like 3  or 6 months from now. Will the stock market continue to make buyers feel confident to spend? Will something happen in Europe to cause our economy to slow down or possibly go back into recession? The unknown brings about an added risk to the selling process.

Personally, I am conservative and like to know what I’m getting into. Today’s market is a known factor, an ideal environment for both buyers and sellers. No one knows what things will look like in the future.

Waiting may simply be a risk that you just don’t need to take, and may end up costing you money in the end.

 

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About The Authors

The above information is compliments of The Schuman Team, Amy and Dan, of Howard Hanna Real Estate Services.

They can be reached at 216-346-3235 or 216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

The Schumans service the following Cleveland area suburbs: Aurora, Bainbridge, Bay Village, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lakewood, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Westlake, Woodmere.

Why Wait For Spring, Act Now! is the property of The Schuman Team and may not be duplicated or used without their written consent.©January, 2013

Sellers Responsibilities Run Through Title Transfer

 

Don't Stop Maintaining Your Home Just Because It's Under Contract

 

Once a home officially goes under contract doesn’t mean a seller should turn their back on their responsibilities. Unfortunately, we have seen sellers do this quite a bit recently and it leads to problems, some that could even jeopardize the closing.

It’s easy to assume that once the paperwork is all signed you can sit back and just wait for the closing. However, there are a lot of things that can happen during the contract to close period, and most of them lead to negative consequences for the seller.

COMMON PROBLEMS CAUSED BY SELLER

  1. Seller staying in the home during the inspection
  2. The home not being “show ready” during the inspection and appraisal
  3. Home is dirty during buyer’s walk through
  4. Driveway is not plowed
  5. Personal property had not been removed

Most sellers understand the importance of leaving their home for showings, so why would you stay for the inspection? Just because you are under contract doesn’t mean you should forget about proper etiquette and procedures. Your presence at the home inspection could actually hinder a sale, so do yourself a favor and leave.

Another thing to remember is that any time you have someone coming in your home, you want it to look its best. Don’t give anyone a reason to have negative feelings about the way you care for and treat your home.

Also, please take the walk-through very seriously. Nothing is more demoralizing for a buyer than to walk through the home prior to closing and find that the home they fell in love with has been totally neglected. This includes lawn care, weeding, and cleaning of the home.

Failing to maintain your home sets a very bad tone and heightens emotions during the closing process. I have seen buyers refuse to sign documents and hold up the closing because of this —not, something a seller wants to happen.

 

IT’S NOT MALICIOUS, JUST AN OVERSIGHT

I realize that most sellers don’t purposely neglect their home. They just happen to be very focused on their upcoming move and get distracted. However, please understand that you still have responsibilities as a home owner. Don’t start to skimp on basic maintenance issues just because you are moving out.

Remember, the buyers fell in love with your home because of the way you initially presented it to them. So, please make sure you continue to care for it throughout the entire process.

Failing to keep up your home makes you look bad, upsets the buyers, and can lead to nothing but problems. So, have some class, do the right thing and ensure a smooth closing.

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About The Authors

The above information is compliments of The Schuman Team, Amy and Dan, of Howard Hanna Real Estate Services.

They can be reached at 216-346-3235 or 216-403-9189 or via email, danschuman@howardhanna.com or amyschuman@howardhanna.com.

The Schumans service the following Cleveland area suburbs: Bainbridge, Bay Village, Beachwood, Bentleyville, Chagrin Falls, Cleveland Heights, Gates Mills, Highland Heights, Hunting Valley, Lakewood, Lyndhurst, Mayfield Heights, Mayfield Village, Moreland Hills, Oakwood Village, Orange, Pepper Pike, Shaker Heights, Solon, South Euclid, University Heights, Westlake, Woodmere.

Seller Responsibilities Run Through Title Transfer is the property of The Schuman Team and may not be duplicated or used without their written consent.©August 2012