Ok, I get it… who doesn’t have this gorgeous picture of what you new home will look like?? When we talk dream home most aspiring homeowners do not think of worn avocado green carpet and paneling from top to bottom. Most picture the a white picket fence, a beautiful kitchen, a warm and inviting living room and don’t forget the cozy retreat-like bedroom.
In this extremely competitive market, the dream may have to shift a little. Isn’t homeownership the BIG goal? Aesthetics can be changed, and it doesn’t need to be right away. I’ll say it again. In this market, you likely will not have the luxury of changing the aesthetics of the home right away…
Why not? Because you will likely have to throw all that you’ve got into an offer to secure a home in this market. This market is tough, especially for aspiring homeowners without a huge budget for a down payment. There are cash offers, escalation clauses soaring over ask, and appraisal gap guarantees to compete with.
In simple terms that money that you are holding back in your offer to upgrade the kitchen, may be the difference between actually buying a home or continuing on in the pattern of searching for homes and losing out on offers.
With that being said, we are going to have to focus on practical over pretty. As hard as it may be, a solid roof and foundation and other mechanicals in good working order are so much more important. Once you actually get an offer accepted and close on your house, you can begin to save funds to change the decor.
Dream homes don’t happen over night. In this market buy a solid home first then put your special touches on it as time and money allow. The best part of it all is that you are investing in something tangible. The funds that you spend improving the aesthetics over time will pay off in the end.
Comments Off on 4 Factors That Affect The Saleability of Your Home in West Michigan
by liz
Helping my clients sell their homes is my favorite!! There are 4 major factors that we need to discuss that will determine the success of the sale.
Pricing
Pricing your home according to the current market is a key factor in a successful sale.
Which factors are key to determining the value of a property? Location, design, amenities, competing properties and economic conditions.
Which factors have no bearing on the property value? Price that the seller paid for their home at the time of purchase, amount spent on improvements, assessed/taxable value assigned by the municipality.
The only constant in the real estate market is change. It is always fluctuating and shifting. As your trusted real estate advisor, I will help you determine the pros and cons of listing your home in the current market conditions. It really depends on your ultimate goal whether or not the time is right for you to sell your home.
Two of the most frequently talked about real estate market descriptions are, Buyer’s Market and Seller’s Market. We will discuss which of these markets the current conditions favor.
Property Condition
Your home does not have to be a 10 out of 10 to sell, but the condition is an important factor on how much your home will sell for and how quickly. Major repairs should be taken care of prior to going on the market (if it is not an option it needs to be reflected in the price).
Staging is a popular term out there in real estate world. This can mean as little as thinning out all of the clutter to completely altering the paint, flooring, decor and landscaping to make the home more attractive to potential home buyers. This is absolutely something I will guide you through. I absolutely love this part of the home sale process!!
Market Exposure
Your home can be in the best location, be priced properly and show like a brand new build but if it doesn’t get the right exposure, it won’t sell.
Marketing your property is my jam! From writing the best possible listing description, to creating social media ads, to making sure that the professional listing photos show your home in it’s best light, highlighting your home to agents that are working with potential homebuyers in the area, open houses, the list goes on. I will do everything I can to ensure that your property has the maximum exposure possible.
Get these 4 factors right and you’ll be receiving a great offer in no time! Let me help you in your journey! Send me a message and we can get started.
A title search is a crucial but behind-the-scenes part of the home buying process. I’ve asked a local title insurance expert what buyers should know about their services — and the valuable role they play in keeping buyers safe.
Q: First off, what is title insurance?
A: Title insurance protects you and your mortgage lender from loss — and headaches — if your seller doesn’t own the property outright.
Q: How does title insurance protect you?
A: Title insurance protects you from financial loss in the form of:
Deeds by minors or by persons of unsound mind
Deeds by persons supposedly single, but in fact, married
Fraud
Forged deeds or wills
Liens
Misinterpretations of wills
Unpaid taxes or inheritance
Q: What is a title company?
A: The title company confirms that the title to the real estate property is legitimately given to the purchaser of the property. Typically, the title company conducts the closing on the home and verifies that the seller has the rights to sell the property.
Q: What does a title company do?
A: Since a clean title is required for every real estate transaction, title companies complete a search on every title to check for claims or liens before a new title can be issued. Without title insurance, buyers could be liable for monies owed on the home long after closing.
Q: How much should title insurance cost?
A: The cost of title insurance ranges between $500 and $3,500, depending on where you live, the provider you choose, and the purchase price of your home.
In most cases, the title company works quietly behind the scenes, making sure everything is set for a smooth transaction. No news is definitely good news. Have questions about the buying process? Don’t hesitate to reach out – I’d love to help out.
Comments Off on How Does a Buyer’s Agent Get Paid?
by liz
After all, if you’ve ever bought a house, you know your agent never asked for a dime during the entire process. (Truth is, real estate agents can’t accept money directly from buyers.)
Here’s how it works:
Agents receive a commission typically based on a percentage of a home’s sales price or it can be a flat fee. Most often, the agents split the total commission 50/50.
The seller typically pays the commission out of the sales proceeds at closing.
The commission first goes to the seller’s brokerage, who cuts a check to the seller’s agent.
Next, the seller’s brokerage sends the remaining funds to the buyer’s brokerage and pays the buyer’s agent.
Hiring a qualified buyer’s agent who can negotiate the best deal on your behalf is crucial to your buying experience.
Here are some things to consider when hiring a buyer’s agent:
Is this their full time career? Some agents work a full time job and their real estate career is their “side hustle”. This isn’t necessarily a bad thing but it may affect their availability and many full time career professionals have more experience and dedication to their business.
What is their negotiation style? Real Estate is a team sport – everyone has to work together to get to finish line. While your agent should always have your best interests in mind, it’s important they play well with others. Being bull headed and hard to deal with can often lead to lost deals & lose you lots of money! On the other side of that coin, your agent should be able to stand their ground when it matters.
What is their experience? See what their background is and what skill set they are bringing to the table. While real estate experience is important, having a professional background in other things can be a great way to round out their experience.
Do they have a process? Real estate transactions are not all the same, but it is important that your real estate agent has a process and a plan to help you reach your goals. Some agents may “just wing” it, but the true professionals will be able to give you the steps of their plan and let you know how they will serve you.
If you, or someone you know, is looking to buy (and now’s a perfect time!), reach out or pass my info along. I’d love to connect ASAP!
Comments Off on Thinking About Building Your Dream Home? What to Know Before Starting…
by liz
You’ve decided you want to build your dream home. Now, you need to hunt down and snatch up that perfect piece of paradise to call home. Here’s how to go about finding just the right spot: Consider the general layout of the home you want to build. Sprawling ranch? Front-porch farmhouse? Two-story bungalow? The lot you choose should complement the home you envision.
Save time by narrowing down where you want to live. Then research available lots in those areas.
Link arms with an agent who knows local builders and can help assess a lot’s potential. You want to be well-acquainted with a lot’s slope, drainage, and utilities.
Check with the local zoning office about the land you’re interested in purchasing. Pay attention to surrounding land as well and try to weigh what future zoning and construction will happen in the area. Your agent can help!
If you’re looking to buy in an established neighborhood, research minimum square footage or building materials requirements. Ask about HOA fees or restrictions that could limit your number of pets, vehicles, or home additions down the road.
Meet with reputable lenders familiar with construction loans to learn your financing options.
Work with an agent to write and negotiate an offer.
Attend your closing and break ground! If you’re leaning towards new construction, but haven’t found the right lot, I’d love to help. Send me an email and let me know what you’re looking for – zip code, school district, acreage, etc. As I chat with my network of agents and hear about lots, I’ll reach out – you’ll be one of the first to know! I can also set you up to receive email alerts the second a listing hits the MLS that fits your wish list. Can’t wait to hear from you!
If you have a home to sell, you’re probably excited to get the process started. There are many things you need to consider when selling your property, and it’s hard not to feel overwhelmed by the task. The good news is we’ve done extensive research about what you need to know about selling your home – and we’ve answered the questions you’re probably wondering:
How will you determine my home’s value?
To determine your home’s value and set a listing price, I will complete a Comparative Market Analysis. The CMA uses recent sales of homes close in geography, age, size, and features to yours. (A CMA is not the same as an appraisal, which a licensed appraiser can perform.)
Is it a good idea to start high?
Many sellers like the idea of “starting high” to see if they get higher offers, but this strategy isn’t usually practical. First, buyers may not see your listing if they use a price filter set to what they expect prices in the area to run. Second, you run the risk of the appraisal coming in lower than your contract price, which will require your contract to be renegotiated or canceled. Third, if your listing price puts your home higher than your neighborhood value, your home will likely sit on the market longer as buyers wait for you to make a reduction. It’s best to set a realistic listing price that will bring you buyers quickly. My goal is always to get you the highest possible price in the shortest amount of time.
What percentage of the listing price can I expect to get?
The list-to-sell ratio is determined by dividing the selling price by the listing price. The ratio is largely market-driven. In a sellers’ market, which is when inventory is low, sellers may get close to 100% or over 100% if the home sells above list price. In a market with a large inventory of homes, a buyers’ market, buyers have more negotiating power, so the list-to-sell ratio may be closer to 90%. My goal is to get you as close to a 100% list-to-sell ratio as the market will bear.
How soon can I get my home on MLS?
Once we agree to work together, I will begin entering your home information on the MLS system. I will also schedule a time for a professional photographer to take photos of the property. As soon as all the information and pictures are uploaded items, your listing can go live on MLS.
What do I need to do to get ready to list?
For your part, it’s a good idea to begin cleaning out or organizing storage spaces, closets, and drawers and putting away some of your décor or belongings. You may also want to have the exterior pressure washed, and the landscaping cleaned up. We can talk further about specific things that will help your home show better.
How will showings be conducted?
You and I will agree on the terms you are comfortable with for showings. We want to make the home accessible to buyers without too much disruption to your personal life. We can use a showing schedule, and unless we agree otherwise, you will be notified in advance of showing requests. We typically use electronic lockboxes that only active members of our local Realtors association can access. We can set the lockbox on a schedule, if necessary. Any time the lockbox is accessed, I receive a notification.
How will you market my property?
Marketing your listing is of utmost importance. Most buyers find their properties online through MLS (via their agent,) Realtor, Zillow, or other search engines. Listings in our MLS system automatically show up on these sites within a day or two of becoming active. In addition, I share my listings with the agents in my network, on my website, and on my social media. We can discuss additional opportunities such as hosting open houses and marketing within your neighborhood.
How long will it take to find a buyer?
Several factors influence the time it takes to find a buyer. These include the market conditions, price range (higher-priced or luxury homes typically take longer to sell,) location (whether your home is in a desirable neighborhood or a unique location,) and the condition of the home (is move-in ready or in need of renovations?) In a balanced market, most houses, when priced accurately and without significant damage or extenuating circumstances, go under contract within thirty days. Homes sell faster in a seller’s market, while buyers take more time to look when inventory is high.
Will you qualify the buyer?
When an offer is received, I will work with the buyer’s agent to vet the buyer. All offers should be accompanied by either a pre-approval from a mortgage lender or, if paying cash, by verification of funds available to cover the purchase price. Once you accept an offer, the buyer must put down the agreed upon earnest deposit, schedule any inspections as stipulated in the contract, and, if financing is involved, their lender will initiate the loan approval process. I will stay in close contact with the buyer’s agent to make sure due process is followed.
What are the costs involved?
The seller usually pays for the real estate agent fees, which are divided between the buyer’s agent and the seller’s agent. The seller also pays their share of the property taxes and HOA dues. If the full annual amount has been paid, the buyer will repay their portion back to the seller at closing. There is also a closing fee, title insurance, state and county taxes. In some transactions the seller elects to pay a portion of the buyer’s closing costs to help make the transaction work for the buyer.
Is your commission negotiable?
The commission is not negotiable. Keep in mind that the commission is split between the listing and the selling agent. If we were to reduce the commission upfront, buyers’ agents might be less likely to advocate for your property. I will work very hard to represent you honestly with full loyalty and integrity to earn the designated commission. This work is my livelihood, and I often go above and beyond the call of duty to earn my pay and close transactions for my clients.
Can I cancel if I find my own buyer?
The listing agreement is a contract between you and me and/or my brokerage. It stipulates the terms for cancellation, which you are encouraged to review. Once we have signed the listing agreement, a prospective buyer that approaches you directly should be redirected to me. How often will we communicate? Communication is key to an easy and successful sale. I will keep you appraised of events every step of the way. You are welcome to reach out to me with questions or concerns. When we go over the listing information, we will discuss our preferred means of communication and schedules to make sure we know each other’s availability and boundaries.
Thinking of selling? I’m here to help! Shoot me a message or give me a call today.
Comments Off on SOLD: 8382 Briarwood Ave, Jenison MI 49428
by liz
3 bedrooms, 2 baths, 2 stall garage, 1,771 square feet, built in 1956. Sold for $239,900.
Check out the location of this Jenison ranch!! Across the street from Bauerwood Elementary, less than 1 from Maplewood Park, 1 mile to Jenison Jr & High Schools, and just over 2 miles from the 196 ramps. You’ll also love the remodeled kitchen with stainless appliances, canned LED lights, cozy eating area, a breezeway area conveniently connects the garage & house and is a great space to use as a mudroom or porch area, spacious living room with hardwood floors, updated bath with new vanity, 3 main floor bedrooms- one with a built in storage system, new light filtering shades. In the lower level you will find a huge rec room with plenty of entertaining area, 2nd bath & sizeable storage room. Outdoors you will find a partially fenced back yard, 12′ x 11′ back patio, PUBLIC sewer & water!!
Who doesn’t want top dollar for their home? Here are a few really key tips to making sure that you get top dollar when selling your home: Price it right. Setting the right price for your home is the single most important decision you’ll make when you decide to sell. Don’t worry—I can help get it right from day 1!
Keep your cards close. So far as you can help it, don’t spill to buyers why you’re selling. If they sense you need to sell quickly, it could affect their offer.
Storage speaks. Buyers LOVE LOVE LOVE storage. Do whatever it takes to put your home’s closets and storage nooks on full display—even if it means clearing them out.
Enhance the entry. You use it as a place to unload your wallet, keys, mail, or loose change….when you’re selling, swap out the gadgets for a vase of fresh-cut flowers or a thriving houseplant.
Clean is everything. Clean, clean, and then clean some more! Remember, you’ll be up against a few BRAND NEW homes at your price point. Don’t miss top dollar for lack of a little elbow grease.
Depersonalize and declutter. Get rid of a third of your stuff—even rent a storage unit if necessary. A good visual to keep in mind? Picture transforming your home into a rental property. More tips on getting your home “show ready” here >>>https://lizorealestate.com/8-ways-to-make-buyers-fall-in-love-with-your-home/
Comments Off on Creating the Right Pricing Strategy
by liz
Properly pricing your property is key to a successful sale in the least amount of time and for the highest value. It is important to get it right from the start.
The Top Five Mistakes Home Sellers Make When Pricing Their Home
1. Sellers often price their home based on “need” rather than the market.
2. Sellers use the “wrong” properties for comparison when pricing.
3. Sellers build a “negotiating cushion” and then have no one to negotiate with.
4. Sellers take advice from “well meaning” but uninformed parties.
5. Sellers allow positive emotions about their property to influence their pricing decisions.
Consequences of Improperly Pricing Your Home
· Buyers in today’s marketplace are very educated on value. If they feel your home is priced over the market they will pass over your home.
· If you price your home too high you end up chasing the market. Often times the home ends up selling for less than it could have if it would have been priced properly in the early stages.
· The home will likely take longer to sell. This can create carrying costs and the possibility of an increase of purchase price and mortgage payment for the next home.
· Pricing your home below the market will likely create more interest and result in a faster sale. The downside is that you may miss top dollar.
It’s important to understand the current market conditions when creating a pricing strategy. Is it a Buyer’s Market? It is a Seller’s Market? Is it a Balanced Market? Having a professional Realtor that understands the market and can educate you is key to pricing your home properly and obtaining your goals.
As exciting as it is to move into a new home, not many people look forward to the actual moving day. Whether you are moving across town or across the country, moving is stressful. Here are some helpful hints from expert movers to make the big day a little more bearable.
1. Schedule your move well ahead of time. Moving companies get booked up weeks in advance, so don’t wait until the last minute to schedule your move. Make sure they know ahead of time if you have any very large or heavy items to move. The last thing you want is for the movers to show up with a truck that isn’t big enough or without enough people to move your belongings safely.
2. Consider letting the moving company pack your items. If it’s within your budget to hire packers, it may be money well spent. Packers are usually very efficient and take time to wrap fragile items securely. Packers will usually pack you the day before your move, so you don’t have to pack items away that you may need up until the day of your move.
3. Schedule services. Don’t forget to have services transferred or started at your new home. These may include:
Power
Water
Trash service
Internet/TV/Phone
Gas
Lawn service
Pool service
Security system monitoring
4. Have your new home professionally cleaned. If your seller is not arranging for cleaning to be done prior to closing, arrange to have it done before you move in so that you won’t arrive to a dirty house.
5. Pack a moving supply box. Your moving supply box should contain items you may need while you are unpacking and getting settled in your new home, such as:
Toilet paper
Paper towels
Sponge
All-purpose cleaner and glass cleaner
Shelf liner paper
Scissors
Furniture moving pads
Tape measure
Cordless screwdriver
Hammer
Picture hanging kit
Bottled water, snacks, pet food
Paper plates, cups, and disposable utensils
Dish Soap and Hand Soap
6. Make Your Bed. As soon as your bed frames and mattresses come off the truck, put them together or have the movers put them together, and make them up. Pack your sheets, blankets, and pillows together in well-marked boxes so you can find them easily. When you are ready to collapse at the end of moving day, you’ll be thankful the beds are made up and ready to fall into.
7. Ditto for your towels and bath soap. Pack bath towels and soap with your bed sheets so you can jump in the shower before retiring without having to search for towels.
8. Make Plans for Your pets. The last thing you need on moving day is a stressed-out pup or kitty, or worse, one that escapes in an unfamiliar neighborhood. Make plans for your pets to spend the day with family or friends, a pet sitter, or boarding facility until you are ready to introduce them to their new home.
9. Say Yes to Helpers. Sometimes it’s hard to accept extra help from family or friends if you aren’t sure what they can help with. Here are some tasks you can delegate:
Lay shelf liner in the kitchen and bathroom cabinets and drawers
Unpack and put away your kitchen items (you can rearrange later!)
Babysit or keep your children occupied
Make up your beds, place towels in the bathrooms
Wipe down cabinets and counters
Break down packing boxes
Hang clothes in closets
Organize tools and equipment in the garage
Pick up lunch or dinner
10. Hire a Sitter. If you have little ones, they will be very excited about their new home, new rooms, and yard. They will want to be with you, but they will not be interested in unpacking boxes! Make plans for someone to be available just for them, so you can concentrate. A family member, friend or hired sitter can help them explore their new surroundings, build a box fort, or organize their toys in their new rooms without you worrying about where they are.
11. Hire someone to hang your art. Unless you love to hang things yourself, you might consider having a handyman scheduled to come in and hand your wall art and window treatments for you. This can save you a great deal of time getting settled. If you need help deciding where to hang art or portraits, a decorator may be a better choice than a handyman. They can help you decide on placement and hang items themselves or direct a handyman where to hang items.
12. Check out of the old house. Make sure you have submitted a change of address form with the post office. You’ll also need to remember to leave all keys and garage door or gate openers, and make sure the movers don’t pack up things like ceiling fan remote controls or other loose items that stay with the house. Don’t forget to clean out spaces like the attic, backyard sheds, crawl spaces, or any other hideaway spaces you might have stored items. It’s always nice to have the home professionally cleaned for the new owners, and, if you feel inclined, leave a list of recommended local vendors for household services.
