To all the renters! Have you had it with your less than considerate neighbors that blast loud music, make strange noises and take away any feeling of privacy? Are you sick of waking up at 3:00 a.m. to what sounds like a safe being drug across the floor? This hilarious video captures what your neighbors might be up to and 4 reasons it might be time to buy sooner rather than later.
In addition to lousy neighbors, here are 4 more reasons why renting stinks!
FLUSHING YOUR MONEY
Every time you send in your rent money, imagine flushing it down the toilet. You get nothing for all that money you spend in terms of your future - what's spent for rent today is spent for rent today, and that's it. You won’t get anything back when you move and will most likely lose some of your security deposit too.
Maybe your water is just barely lukewarm or perhaps the ancient stove takes 4 hours to boil water. When things break, you have to contact the landlord to get anything fixed or replaced. They may or may not respond in a timely manner and the “fix” may or may not actually fix it. You have very little control over the space and comfort level because you don’t own it and they know it.
LIVING WITH OTHER PEOPLE’S CHOICES
You might be living with an outdated kitchen or stark white walls you are not allowed to paint or hang things on. When you rent, chances are you can do very little to make the space your own. You pay all sorts of money to live there, but it is hard to feel like home when you must live with other people’s choices.
Sure, you might have signed a lease. But when that lease is up, you can be asked to move. Your landlord might decide to take advantage of the booming real estate market and sell the house/condo. If you do get to stay, your landlord will most likely raise your rent. There is very little security and your future isn’t in your control.
Many renters think they can’t buy a home and have to put up with lousy neighbors and renting issues, but this might not be the case. It might be time to talk with an agent at COListings to get the facts and run the numbers to see what you can afford. Our agents only work with reputable lenders to make sure you get real answers and make smart decisions. If you know that renting stinks, contact us today!
When selling a home, you can almost guarantee a buyer will want an inspection. While no home is perfect, there are several issues that can keep your home from selling altogether. Here are the most common inspection issues that can kill your home sale.
One of the biggest issues in home inspections is water penetration. Even a small amount of water can cause big problems that can often lead to mold and rotting. Whether it has flooded a space or you have just a leak, buyers can move on to the next house if they detect water problems. When you know you have water issues, a professional contractor can repair to make sure any water damage is no longer an issue. But, sellers should always be upfront with any water issues and provide the repair and warranty details to make sure the buyer feels comfortable moving forward with the purchase.
A home is more than just a place to live for homebuyers. It’s an investment. Issues with the foundation, supports, walls or roof will be a big red flag for any buyer. These issues raise questions around what problems they might have with the house down the line and if it will turn into a money pit. Structural issues should be repaired before a buyer even sees the home, but some homeowners cannot afford the fix beforehand. If that's the case, provide a detailed estimate to repair and prepare to take a hit on the home price.
Radon is a radioactive gas that is common in many homes. For most homes, the levels are low and don’t pose any threats. When levels are high, it’s very dangerous and can cause health issues. Although mitigation systems can be installed for around $1000, the risk and additional money needed to mitigate could put the sale on the rocks.
Mold in a home doesn’t just cause concern about where moisture is coming from, but also raises health concerns. Many people experience adverse reactions to mold spores and many question a home purchase if mold is found. You can hire professional mold remediation companies that specialize in removing mold and prevent it from coming back. That coupled with identifying and fixing the reason mold formed in the first place, is the only way to keep buyers from walking.
Little critters are a common issue when you own a home, but they can also cause major issues. Termites destroy the wood that supports the home and can cause structural defects. Other unwanted guests like rodents and insects can lead to cleanliness and health issues. If you know you have major pest or rodent infestation, potential buyers will find out and be creeped out. Pest issues need to be addressed by a professional before you try to sell to prevent any buyer freak outs.
TOO MANY LITTLE THINGS
Sometimes buyers will choose to walk away from a home because of too many small issues rather than one big one. Buyers become concerned about how the house was maintained and what other issues could arise down the line. Knowing what to repair and update to make sure you don’t have too many little things wrong will ease the buyer's mind when purchasing your home.
An experinced Realtor can help you identify potential issues that need to be addressed so they are a non-issue when you go on the market. There may still be surprises along the way, but your Realtor will help guide you through inspection issues. When faced with problems out of your control, having an experienced Realtor will help to make sure you have the appropriate selling strategy and negotiation skills to get you to closing.
The agents at COListings have extensive training on inspection issues and how they can affect the home selling process. Their goal is to help eliminate anxiety surrounding potential deal killers and position you in the best way to get your home sold. Contact us today!
A FSBO (for sale by owner) is when a homeowner decides to sell their property without a broker or real estate agent representing them during the transaction. The obvious reason why homeowners would want to sell their home on their own is to save the money they would need to pay in agent commission. Unfortunately, many FSBOs fail. Here’s why.
Preparing a home for sale
When preparing a home to sell, the time it takes to get your home show ready is an important factor that FSBOs often don’t take in to account. When a home goes on the market before it’s ready to be seen, you will lose potential buyers and may not get what the home is worth. Real estate agents know the timeline and know the importance of pre-listing tasks like decluttering, cleaning, staging and repairs.
Knowing how to correctly price a home requires extensive training, experience and knowledge of the market. If FSBOs price their home too high, buyer’s agents know it. FSBOs will be on the market longer and run the risk of receiving even less than they would if it was priced correctly. On the flip side, many FSBO’s leave money on the table by pricing their home too low. Often, they lose out on more money than they would’ve if they hired a listing agent.
FSBOs don’t have the knowledge, technology or connections to get their home in front of the right potential homebuyers. Without the right exposure, days on the market increases and the people that do see their home aren’t necessarily those who will be able to purchase it.
It’s a common misconception that agents don’t do much during the sale of a home. FSBOs understand that myth very quickly when it comes time to be available and handle property inquiries. It’s no easy task to coordinate showings and take time off work to do so. Homebuyers want quick responses and flexibility when they want to see a home. If they don’t get that, they have no problem moving on to the property down the street that does.
Experienced real estate agents know that for a sale to be successful, they need to do their homework on who is qualified to purchase a home. FSBOs often waste time and money showing their home to unqualified buyers because they don’t know how to ensure someone is pre-approved.
When the homeowner shows the home to a prospective buyer, it often makes them uncomfortable. They feel a sense of pressure and the space they need to envision themselves in the home is often compromised.
Navigation and negotiation
An important skill that good real estate agents learn is how to navigate and negotiate real estate contracts. Real estate contracts are confusing and there is much more to them than the home price. FSBOs usually don’t have a strong understanding of that and they can be taken advantage of if they don’t know what should be negotiated.
After a home goes under contract, most buyers will want to have an inspection done on the home. The chances that the inspector will find something wrong with the property is almost a given. That report will often have several issues. FSBOs often have an emotional response to an inspector’s list of what’s wrong with their home. That often clouds any understanding of how to handle the findings and can lead to losing the contract with the homebuyer.
Paying the buyer’s agent
Many FSBOs don’t realize that they are on the hook to pay the commission due to the buyer’s agent. Most buyers will have an agent when purchasing a home and refusing to pay the commission will drastically reduce the number of potential buyers.
If a FSBO manages to get through these other 9 challenges, there is still the daunting task of getting their home to closing. This includes a very tight schedule of timelines, tasks and paperwork that needs to be done by a certain time. Without knowing what each one is, FSBOs can drop the ball and the closing will fall through.
Everyone wants to save a little money, but when 10% of FSBOs actually sell per the National Association of Realtors, this might not be the way to do it. If you are considering selling your home, make sure you hire an experienced COListings agent to get it done right for you.
You’ve heard it before. Someone had a horrible experience with an agent that posted a sign in their yard and just prayed it sold. They never returned calls and the seller had no idea what was going on along the way. With stories like that, many potential sellers ask “why should I even hire a real estate agent?” COListings’ agents know that sellers deserve more than that. Here are 6 things agents should be doing for you.
Price It Right
Some agents tend to price a home inaccurately just to get business and make the sellers happy.
This can cause numerous issues during the sale. Pricing a home correctly is one of the most important things a great agent does for sellers. That means it should be priced based on training, market knowledge and comparable sales.
Market Like A Boss
It all starts with how your home will look to potential homebuyers. It needs to be clean and staged well to show its value. Your agent should be bringing in a professional photographer to take the listing pictures. Potential buyers will find your home online and if the pictures were taken with an old cell phone, your potential homebuyer pool will be less. Your agent should know how and when to let the world know you are on the market and should use all channels and top notch materials to drive buyers to your home.
One of the biggest complaints against agents is lack of communication. Sellers are eager to know about the process and need to be informed of what is going on during all stages. Not just when an offer comes in. Agents should return phone calls and e-mails to help address any questions or concerns that a seller might be having in a timely manner.
Top notch agents will do anything they can to put their sellers in the best position possible during their home sale. Everything from home price to closing dates should be considered when negotiating what is best for you.
Be Your Number Two
A great agent should be at the home inspection no matter what. Agents can then get the first look and see things in person. This knowledge is priceless when negotiating buyer requests based on the report. The same goes for the appraisal. They should be there to answer any questions an appraiser might have and can provide valuable insight on everything that influences your home value.
Keep It On Track
The stress of selling home can be very wearing on sellers. Great agents know this and strive to reduce the stress by taking care of all the details. Everything from providing contract forms online to scheduling closings where it is most convenient for you, it’s all part of the package you should get from your agent.
Paying a listing agent’s commission sure seems like a lot of money, but when you see what a great one does for through the process you see it’s worth every penny. If you need a great agent to help you through the selling or buying process, contact COListings today!
We love our pets, whether they are cats, dogs, rabbits, snakes or iguanas. But, that doesn’t mean potential home buyers do. When you decide to put your house on the market, you will need to pet-proof your place. Here are 5 tips to keep your furry friends from making a mess of your home sale.
One way to scare off potential buyers is with foul odors and hair that come with having pets in a home. You’re so accustomed to your pet that you no longer realize they can give your home a certain scent or notice the fur balls throughout the house. But rest assured, potential buyers will pick up on it right away. Deep cleaning your house will help control the odors and mess that harbor in areas often missed during a regular cleaning routine.
We know Mr. Kit Cat loves his 2-story climbing tower, but it will need to be packed away while you are going through the home selling process. You don’t want to have potential home buyers trying to avoid pet beds, toys or litter boxes as they walk through your home. It’s difficult to remove everything, but keeping it all organized and in one area will make a big difference.
Scoop The Poop
Whether you have litter boxes inside the home or animals that use your backyard as their bathroom, make sure you pick up after your pet. Homebuyers will be walking through each room and around the house. The last thing you want is for them to step in you know what!
While this might not apply to every pet, some of our furry friends may have decided that it would be fun to make a wall their chew toy. Or perhaps Sir Garfield marked his territory on the carpet. Scratched hardwood floors, trim work and ripped screens, and worn furniture are other possible pet damaged areas that need to be repaired or replaced before you list your home for sale.
Remember not all homebuyers will love Mr. Snickers like you do. Letting pets rome free can make some buyers uncomfortable. Not to mention it’s hard to predict the behavior of any animal when strangers are in the home. Make sure to take your animal family members on a walk or for a drive. If you can’t remove pets during showings, securing them in crates/cages might be the next best option.
Selling a home with pets can be challenging and it will take some extra effort. Let the agents at COListings help you and your furry friends through the process. Contact us today!
The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange ("IDX") program of METROLIST, INC., DBA RECOLORADO ®. Real estate listings held by brokers other than COListings are marked with the IDX Logo. This information is being provided for the consumers' personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified. Full Metrolist Disclaimer