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Discover How to Sell Your House Fast

I need to sell my house fast. It has been listed 6 months with no real action. I was wondering what options I have?

The above title is a recent question from a Pennsylvania Home Seller and below is their situation:

The Pennsylvania Home Seller’s current listing is almost over and they were hesitant to sign again with the same Realtor because they felt that they haven’t really done much to “try to sell” the home. The Pennsylvania Home Seller lowered the price three times and they do not need to make one cent on their home, they just need to sell their home to be closer to work.  They have had about 8 showings with their Realtor saying that there was minimal feedback. Most of which is just the home buyer saying they were not interested.

I answered:

Start with your current Realtor and ask specifically what they are doing to market the property, how is your Realtor portraying the property (pictures, descriptions, etc), and have a new CMA done. I understand your situation but home buyers don’t care about that. They’re looking for a good value. If your home is priced higher than comparable homes, then home buyers are not going to be interested. And if you put your house on the market 6 months ago, you definitely need an updated CMA.

There are three specifics that govern the sale of a house:

Price
Condition
Location

There is absolutely nothing you can do about Location; Price and Condition, however, are within a home sellers control, and you need to make sure your Realtor is being completely honest with you regarding both. Houses need to show like a model home, and need to be priced correctly.

You should be looking specifically at every house that has SOLD within the past 3-6 months within a 1 mile radius of your home (0.3 miles in a city), that is the most SIMILAR to your home (i.e., if your house is a rancher, you should only be looking at ranchers) with the same square footage, approximate acreage, etc.  Then your Realtor should explain the home price adjustments needed for the differences between the comparables and your house. Once those home price adjustments have been made, you should be very close to what the actual market value of your house is.  Next you review the condition of your property to other recently sold homes to get to your final price of your home.

It’s also possible that your house doesn’t show as well as it could. That wouldn’t directly account for the low number of showings, but it’s also possible that your house doesn’t look appealing online.  Make sure you’ve got a lot of great photos online with your listing. A lot of real estate listings have terrible photos because the rooms themselves look unattractive. I would consider staging the property (contact a home stager for a consultation), then getting a GOOD photographer in to take new pictures.

To recap: the first steps are to make sure it’s priced right in today’s market, then make sure it shows well (in person and online), and then make sure it’s aggressively marketed.
Contact me for a Report on How to Sell Your Home when it Failed to Sell the First Time! .

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August 25, 2014 Posted by | Uncategorized | , , , | Leave a comment

The Market has Seen Rising Rates Before BUT Never so Far so Fast

Dire Predictions For Philadelphia Housing Recovery

  • The market has seen rising rates before, but never so far so fast
  • Short Term impact in sales:  The spike is causing a sense of urgency now, a rush to buy before rates go higher
  • Home sales and home prices will both come down if rates don’t return to their lows, and the expectation is that they will not
  • When the $8,000 credit went away:  New home sales fell 25 percent year-over-year, and existing home sales fell 24 percent year-over year
  • Increased contract cancellation for buyer’s that did not lock in thier rate
  • Mortgage applications have been falling for the past month
  • Applications to purchase a home are down 28 percent in the past month and up only 4.5 percent from a year ago. They should be up far higher, given that prices and demand are rising so fast
  • Mortgage rates going from 3.5 to 5 percent is roughly a 15 to 20 percent decrease in what the average buyer can afford
  • Rising rates are the number one worry for the majority of buyers right now

But to keep in prespective interest rates are still near historic lows. Unless employment and incomes increase it will be harder to keep a strong demand in housing purchases if interest rates continue to rise.

July 10, 2013 Posted by | Uncategorized | , , , , , | Leave a comment

Curb Appeal on a New House

Decemeber 2012 theme is How to Sell Your House By Yourself without a Real Estate Agent (FSBO – For Sale By Owner).

This we be the last video of our theme for December on the topic How to Sell Your House By Yourself without a Real Estate Agent (FSBO – For Sale By Owner). Today we will finsh our discussion on curb appeal. If you want me to talk about a certain topic in the future please email us. To learn more about this topic contact us for a Free Special report on How to Sell Your House on The Date of Your Choice Without Making a Repair!

Contact a real estate professional before you decided to sell.  If you are in Pennsylvania contact me at www.CMTrealestate.net.

To learn more about this topic contact us for a Free Special report on How to Sell Your House on The Date of Your Choice Without Making a Repair!

Subscribe to CMT Real Estate’s Youtube Channel

December 26, 2012 Posted by | Uncategorized | , , , , , , , , | Leave a comment

How to Sell Your House By Yourself (FSBO) – Part 2 – Marketing / Advertising

Starting now for each month we will have a monthly theme/topic and each week during the month we will send out 1 to 2 blog (video or articles) posts a week with a sub-theme. For Decemeber 2012 we will be talking about How to Sell Your House By Yourself without a Real Estate Agent (FSBO – For Sale By Owner).

This we continue the topic How to Sell Your House By Yourself without a Real Estate Agent (FSBO – For Sale By Owner) and discuss marketing and advertising.  If you want me to talk about a certain topic in the future please email us. To learn more about this topic contact us for a Free Special report on How to Sell Your House on The Date of Your Choice Without Making a Repair!

Checklist – For Sale By Owner (FSBO)

Marketing / Advertising

    • Internet advertising
    • Local newspaper
    • Place flyers in your area
    • For sale sign on front yard and by major intersections
    • Tell neighbors, friends and family to spread the word
    • Open House

To learn more about this topic contact us for a Free Special report on How to Sell Your House on The Date of Your Choice Without Making a Repair!

Subscribe to CMT Real Estate’s Youtube Channel

December 8, 2012 Posted by | Uncategorized | , , , , , , , , , | Leave a comment

How to Sell Your House By Yourself (FSBO) – Part 1-Before You Advertise

Starting now for each month we will have a monthly theme/topic and each week during the month we will send out 1 to 2 blog (video or articles) posts a week with a sub-theme.  For Decemeber 2012 we will be talking about How to Sell Your House By Yourself without a Real Estate Agent (FSBO – For Sale By Owner).  If you want me to talk about a certain topic in the future please email us.  To learn more about this topic contact us for a Free Special report on How to Sell Your House on The Date of Your Choice Without Making a Repair!

Checklist – For Sale By Owner (FSBO)

Before you Advertise

  • Determine you asking price
  • Estimate how much cash you will receive from the sale after the mortgage and other closing cost are paid at settlement.
  • Decide if home improvements are need based on your asking price.
  • Clean up the interior and exterior of your home
  • Purchase and review agreement of sale and disclosure forms with a real estate attorney.  Also, have them hold deposits and down payments you receive from prospective buyers (escrow account)
  • Have set days that you will show to prospective home buyers

To learn more about this topic contact us for a Free Special report on How to Sell Your House on The Date of Your Choice Without Making a Repair!

Subscribe to CMT Real Estate’s Youtube Channel

November 29, 2012 Posted by | Uncategorized | , , , , , , , | Leave a comment

10 Ways to Make a Small Room Look Larger

Don’t forget about the Free Seminar Wesdnesday night (12/7) from 6-7:30pm.  To register call 215-200-7665.  To learn more

Lowe’s offers 10 designer tricks to help you make any room in your house look larger:

  1. For the illusion of a larger room, use a color scheme that is light rather than bright or dark. Pastels, neutrals and white are all color possibilities.
  2. Use a monochromatic color scheme on the furniture, rugs and walls. Select different shades and textures of your single color.
  3. Lighting is a key element in opening up a space. Recessed spot lighting is visually appealing and is perfect for a small space. A torchiere light is great for bouncing light off of the ceiling and back down on the room. Skylights and solar tubes are natural alternatives for adding light to a room.
  4. Limit the number of accessories to avoid the cluttered feeling.
  5. The floor and the ceiling are the fifth and sixth walls of every room. A light-colored flooring such as light oak or a light-colored carpet will make the room appear brighter and more open. The same applies to the ceiling-use a light color or white to “open up” the space above.
  6. Increase the appearance of the size of the room by adding wall mirrors. They not only reflect images, they reflect light and color. Be a little daring! Use mirror tiles to mirror an entire wall. Your room will appear to double in size.
  7. Don’t place too many pieces of  urniture in a small space. A love seat may work better than a full-size sofa depending on the size and shape of the room. Add two medium-sized chairs or two small wood chairs. Place the chairs closer to the wall and then pull them into the area when additional seating is needed.
  8. Add paintings or prints to the walls.  One large painting works better than a group of small paintings.
  9. The visual balance of a room is also important.  A large, brightly colored element can overwhelm a room and decrease the appearance of space.
  10. A glass table, whether it is a dining, coffee or end table, will keep the appearance of an open and free space.

December 6, 2011 Posted by | Uncategorized | , , , , , , , , , , , , | Leave a comment

How to Sell the House that Won’t Sell

Your house has been on the market for months with little or NO interest.  There are ways you can do to Sell Your House Fast!

Reduce the Price — The important thing to keep in mind is that the property won’t sell if it is priced above comparable homes in your neighborhood. The best way to determine this is to know what similar homes in your neighborhood recently sold for. By recently sold for, I mean the last 3-6 months of home sales.  People in the real estate industry call these recent home sales comparables or comps.

Contact a Real Estate Investor — When you contact a Real Estate Investor (CMT Real Estate if you are in the Philadelphia Area), you are dealing directly with someone who wants to buy your house – not list it for sale. Good real estate investors will educate you regarding the market and you home. If you are looking for a very quick sale, or if your house is not in prime condition, this is often your best alternative. Once you call an investor, they will ask you about your house, the repairs that are needed, your current situation, and why you are selling your home. They’ll use that information to create an offer that works both for you and for them. Generally, they will close (buy your house) as quickly as you need, or stretch out the closing date if you need additional time.

Provide Seller Financing — The home seller becomes the bank in this example.  For example if the seller owns the house free and clear (no mortgage) and the seller does not need cash now (typical home sale), then seller can have the home buyer makes equal, monthly payments until the agreed upon selling price is paid off.

Offer a Lease with Option to Buy – Only use when you know the buyer can qualify for a mortgage in 6-24 months.  Your prospective Buyer rents the home with an option to buy within 6-24 months.  The buyer pays an option fee of 3%-5% of the purchase price to the Seller. In addition to this down payment, the Buyer/renter pays a monthly rent.

Consider another Real Estate Agent — This will cost you 6% to 7% of the purchase price at settlement and you may still have to lower your price to sell your house fast.

Tell everyone in the neighborhood — Buy a marketing list and mail to renters in the area.  Advertise with home for sale signs at major intersections and direct people to your house.

May 2, 2011 Posted by | Uncategorized | , , , , , , | Leave a comment

Adding Value to your house before selling

Your house is dated and you have some money to make home improvements so it will sell fast.  Before you spend your money, think about which project has the highest return on investment.  

Below is the expected return on investment for some home renovations:
• Exterior Paint (50% – 100%)
• Interior Paint (50% – 100%)
• Bathroom Renovation (75% – 100%)
• Kitchen Renovation (75% – 100%)
• Furnace/Heating System Upgrade (50% – 80%)
• Roof Shingle Replacement (50% – 80%)
• Basement Renovation (50% – 75%)
• Recreation Room Project (50% – 75%)
• Install a Fireplace (50% – 75%)
• Flooring Upgrade (50% – 75%)
• Window/Door Replacement (50% – 75%)
• Build a Deck (50% – 75%)
• Construct A Garage (50% – 75%)
• Install Central Air Conditioning (25% – 75%)
• Build a Fence (25% – 50%)
• Interlocking Paving (25% – 50%)
• Landscaping (25% – 50%)
• Asphalt Paving (20% – 50%)
• Add A Swimming Pool (10% – 40%)
• Install a Skylight (0% – 25%)

If you decided to do a renovation to your house, know what the majority of home buyers in your neighborhood want.  For example, if updating a kitchen one Philadelphia neighborhood may want granite, while in another Philadelphia neighborhood just a mile away your buyers are satisfied with laminate countertops.

March 6, 2011 Posted by | Uncategorized | , , , , | Leave a comment

Before You Sell Your House Spruce Up The Outside

If you want home buyers to see the inside of your house you need curb appeal. This means the exterior of your home needs to be in good condition.

Roof, Windows and Siding: Paint and repair gutters. Repair loose shingles and flashing in roof, especially when visible from the ground.  Paint window sashes, trim and shutters.  Replace cracked window panes, and wash entire window.  Clean and paint siding as needed.  Painting it a neutral color is the best color for aluminum, wood or synthetic siding.

Lawn & YardA well kept lawn implies a well maintained home.  Therefore, cut your lawn weekly while showing your home. Rake leaves and sweep sidewalk on weekends when house is to be shown. Remove dead limbs and debris from shrubs and trees.

You can spruce up landscaping with potted flowers and a new mail box. Repair fences and touch-up with paint or stain. Finally, store your lawn equipment, toys and other outdoor items in your shed. 

Front Entrance:  Paint, clean or stain the front door.  Remove old screens if they don’t fit or operate properly and buy a new welcome mat. Make sure entry light and doorbell are in working order.

Replace missing house numbers and make sure the house number is visible from the street.

February 21, 2011 Posted by | Uncategorized | , , , , , | Leave a comment

Buy Houses that will be Easy to Sell

Most people don’t live in the same house forever.  Life creates change and people move. Therefore, before making an offer to buy a house, consider: Will the average buyer want these things when you are ready to sell? Don’t buy this house if the honest answer is no.

Homes outside the existing norms of a neighborhood are hard to sell. Do Not buy:

  • It’s the only new construction house in the middle of old homes
  • A house bigger than all the others on the block
  • The best maintained home in the middle of a dilapidated block
  • A three story home that towers over its rancher property neighbors
  • A single family home in the midst of multi family rental units
  • A luxury condo on the fringes of a low income housing development
  • Avoid neighborhoods and blocks filled with “for sale” signs, especially when sales are driven by jobs leaving the area

January 19, 2011 Posted by | Uncategorized | , , , , , , , , | Leave a comment