Our Real Estate Blog
The Open House is just a part of the marketing strategy to effectively sell a home, but it can be an important one. The number of people it attracts can strongly correlate with both the number and quality of the offers you receive. So while you may not have the luxury of selling your home in the best possible month, you can at least sell it on the best day of the week. Find out more about who's searching and what you can do to maximize your bottom line.
Unsurprisingly, homebuyers are no longer relying solely on the balloons and signage of yesterday. Instead, they're headed straight to Google to learn more about what's available in each neighborhood. In fact, 88% of buyers said that websites ended up being the most valuable tool when it came to their home search. If you consider when people are searching, there seems to be a clear winner.
Sunday, Sunday, Sunday
Real estate agents and Google alike all seem to agree that Sunday is the day when buyers are most likely to look for the home of their dreams. The peak traffic is between 8 – 11 a.m., meaning the afternoon will likely attract the highest number of people. If at all possible, you should avoid hosting an Open House near a holiday. While Saturday is certainly the next best choice, it simply can't hold a candle to Sundays when you look at the data.
Understanding the Market
Houses are one of the more unpredictable components of a home sale. You may end up finding three qualified buyers who each want the home more than the next. But you can just as easily end up with a houseful of curious neighbors who want to know the listing price, why you're leaving, and whether you remodeled your kitchen. An experienced real estate agent can let you know if your home is more suited for private showings or a broader marketing campaign.
Some sellers will use Open Houses as a strategy to better understand how buyers see the home. After listening to people and watching their reactions, sellers may learn it only takes a coat of paint or a flower bed to improve the desirability of their home. But more often than not, an Open House is tailor-made for real estate agents.
A professional will know how to use an Open House as a larger part of a larger plan for exposure. The relaxed atmosphere helps buyers connect with a home, and it allows real estate agents to crystallize how they can best leverage that interest. It just so happens that Sunday is the best day of the week for just that!
Home appraisals are an important part of the buying and selling process. Lenders use appraisals to make sure that the home is worth what the borrower is paying. A home’s appraisal value is based on a number of factors, all of which we’ll discuss in this post.
Whether you’re a buyer, seller, or are just learning about the process of buying a home so you’ll be better equipped in the future, this article is for you.
How is a home appraisal different from an inspection?
While home appraisals and inspections are performed by licensed or certified professionals, they have to different functions. An inspection ensures the safety of a home, as well as whether or not it will need repairs in the immediate or near future.
Appraisals, on the other hand, aim to value a home based on its property value, the size of the property, and the location of the property. The condition of the home is a factor in valuing a home, which is why some people confused appraisals with inspections.
Who pays for appraisals?
Like most closing costs, a home appraisal is a burden that falls on the buyer. Typically, the lender you choose will work with will actually order the appraisal. The cost, which usually amounts to a few hundred dollars, can be added to your closing fees. You can find the cost for an appraisal listed on the Closing Disclosure document provided by your chosen lender.
Which factors determine the home’s value?
To appraise the house itself, appraisers will look at the condition of the home. They’ll also weigh the features of the home in their valuation--things like the number of bedrooms and bathrooms, for example.
However, the two key characteristics of a home that contribute to its value are its age and size.
Which external factors contribute to the home’s value?
As you might suspect, the location of your home matters greatly when it comes to appraisals. Homes are appraised based off of average prices for their neighborhood and region.
Other location factors include how accessible the home is, if it’s located on a waterfront, and whether it has desirable views.
When does a home get appraised?
While your experience may vary based on your specific circumstances, most appraisals occur after a buyer has signed a purchase contract. One this is done, the lender will take the steps necessary to order and process the appraisal.
How long is the home appraisal process?
Once the buyer has signed a purchase contract, the appraisal is usually completed and processed within 7 days. The appraisal report will be sent to the lender. This report contains the appraised value of the home. Buyers are entitled to a copy of this report, and should keep one for their own records.
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Let's face it – cleaning a house from top to bottom may prove to be a time-consuming task. Fortunately, we're here to help you streamline your home cleaning efforts and ensure you can get your house ready for the real estate market.
Now, let's take a look at three steps that home sellers should take before cleaning a house.
1. Make a Plan
If you only have a limited amount of time to clean your house prior to listing it, there is no need to worry. Plan ahead, and you can achieve the best-possible results.
Oftentimes, it helps to make a checklist of which rooms need to be cleaned. You also should include the types of cleaning that need to be done in different areas of your home. For instance, if you need to scrub the bathroom toilets or remove dust from the bedroom ceiling fan, you should include these details in your checklist.
With a plan in place, you'll be better equipped than ever before to speed up your home cleaning efforts. And if you need extra assistance as you craft your home cleaning plan, it may help to consult with a real estate agent.
A real estate agent understands what it takes to prepare a house for the real estate market. As such, this housing market professional can offer recommendations and suggestions about how to plan ahead for home cleaning.
2. Establish Priorities
Once you know which areas of your home that you need to clean, you should establish priorities. By doing so, you can further streamline your home cleaning activities.
It generally helps to clean common home areas at the same time. For instance, if all of your bedrooms are located on the top floor of your house, you may want to go from bedroom to bedroom and perform extensive cleaning. That way, you can simultaneously clean all of your home's bedrooms.
In addition, it may be a good idea to schedule attic or basement cleaning first. Cleaning an attic or basement may force you to get dirty. And if you clean these areas right away, you can minimize the risk of spreading attic or basement debris into other portions of your home.
3. Pick Up Cleaning Supplies
Make a list of cleaning supplies that you'll need to make your house sparkle. Then, you can purchase these supplies and return home to kick off your cleaning efforts.
Don't forget to buy gloves, facemasks and any other items that you'll need to protect your face, hands and skin. These items will enable you to stay safe as you work in areas that may be loaded with debris.
Lastly, if you need help getting the best-possible home cleaning results, you may want to consider hiring professionals. With a team of expert home cleaners at your side, you can receive comprehensive home cleaning assistance.
Ready to clean your house? Follow the aforementioned steps, and you can quickly and effortlessly prepare to clean your residence prior to adding it to the real estate market.