These three tasks are the most crucial when prepping your home for sale.
When you’re preparing to sell your home, the repair/remodel list can get long and seem overwhelming. Do you renovate the bathroom, change the countertops, update the appliances, or replace the carpet? Where do you even begin? How do you know what truly needs to be done? It may feel like too much.
However, with a little bit of focus, preparing your home for sale becomes much more manageable. That’s why I’m sharing the three most effective tasks to do before selling that will get you the most return on investment (ROI):
Walk around with a box and clean up. Throw away, donate, or store all unnecessary
items. Items you haven’t used in six months, or won’t use for a few months (e.g., seasonal
clothing), should be stored. You don’t need them laying around when buyers view the house.
2. Deep clean.
Windows, cabinets, appliances, basement rooms that aren’t often used, the garage, etc.
A clean home will show much better and sell quicker; buyers notice a tidy house.
This is the least expensive, highest impact task a seller can do. A fresh coat of paint in a home is like a clean slate—it even smells new. If you’re going to change colors, consider speaking with a good designer or stager who knows the latest trends. I’m glad to help, and as of today light gray and white are in style.
However, if you’re watching this months from now, it could be completely different. Also, any dark woodwork or doors should be painted white (as of current styles), it makes them pop and looks updated.
These are the three least expensive enhancements you can make to your house and will get you the highest ROI.
If you have any questions or would like a personal consultation, please feel free to reach out to me anytime via phone or email. I would love to help you.
Due to concern, I’m answering a few questions about our real estate market.
We’ve all had a challenging year to say the least. Our world just hasn’t seen a year like 2020 in living memory. I hope you and your family are well and staying safe. Even through these difficult times, we’re available to help with your real estate needs. Due to concerns we’ve been hearing, today I’m taking time to answer your questions about our market. To learn what’s been happening in our area lately, watch the short video above.
I’m sharing our latest real estate market update for Greater Minneapolis. Great news: Our market is strong.
First I want to say that I hope you and your loved ones stay safe and healthy during this hazardous pandemic. Today I’m sharing an update for the Greater Minneapolis real estate market.
The number of homes for sale (sometimes referred to as inventory) is low right now. Buyer confidence is very strong and interest rates are low, so buyers are looking for houses. Our market overall is very strong. We’ve had a ton of activity in the past couple of weeks, and that activity is increasing.
We’ve implemented zero-contact transactions, which include virtual showings, e-signatures, DocuSign contracts, phone, text, and email communications, video conferencing, and the utmost precaution if an in-person showing is needed. Real estate is moving in the Greater Minneapolis market.
If you’re considering selling, this may be the time to do some preparation, planning, decluttering, cleaning, etc.
Please do not hesitate to call or email us. We can discuss your situation. Also, contact us if you have any questions about the market or real estate in general. We look forward to serving you. Stay safe and sane out there.
I just want you to know I’m here to help…
My phone number is 612-308-3395.
My heart goes out to our families with children with schools shut down, our seniors in assisted living, our neighbors at the hospitals, our local businesses struggling and anyone impacted by this pandemic.
I’ve been selling real estate for years here in Minneapolis. I’m fortunate to know people who may be able to help you out for a trip to the grocery store, watching children, or even getting bills paid.
You’ll be surprised how many good people are here in Minneapolis happy to help you.
Call me, again, if you need anything. My number is 612-308-3395. It does not need to be about real estate. It can be a personal issue. I'll see if I can assist in some way.
Of course, I’ve been asked “How do I sell my home at this time?”
Homes are still selling. Our Federal Reserve just dropped their interest rate to near zero to keep the money moving for people buying homes. It’s quite unprecedented.
We can video conference, if you prefer, instead of an in-home selling consultation. I’ll likely have enough information to list it for sale with a quick tour on your phone, tablet, or laptop.
I’ll even guide you how to shoot photos, if you prefer, to keep a photographer out of your home. You'll be surprised what we can do with Photoshop and an iPhone these days.
We may be able to sell it without showings, too. There are individuals and companies who will buy your home outright. I can refer you to those companies and shop the offers.
If we do need to show your home, I’ll provide a hand washing station and anything else the CDC recommends to lower everyone's risk of infection. Safety is my #1 priority for you.
Some of the top Google searches now in real estate are “home prices dropping” and “home prices falling”. That’s not the case at this time. I'll keep you updated on this.
I’m here to guide you and make fact-based, researched decisions if you need to sell your home (or buy one) since life must go on for those in situations who need to move.
That may be you or someone you know. I have your back.
I’m here to help if you need anything. Let me know.
My number is 612-308-3395.
Buyers, what will it take to edge out the competition in our market? I have five tips for you to consider that will help significantly.
The Minneapolis-St. Paul housing market is as tight as ever, with several buyers vying per listing. Note to sellers: You still can’t price your house 20% over market and expect to sell it—buyers are motivated, but they’re not dumb. Here are five things to consider when purchasing a new home:
Be flexible on your search. Let’s say you need a 5-bedroom home. Why don’t we set you up for a 4-plus bedroom home so that if something ideal pops up, great, but if not, we can get creative; maybe a home has four bedrooms plus a den, or an office, or a bonus room that you could convert into a bedroom. We can also take this flexible approach for bathrooms, garages, or any other amenity. Supplement your MLS properties with social media searches, pre-listed homes, and bank-owned homes.
Get an inspection. Don’t leave this out of your offer. With 99% of buyers asking for one, sellers should know this is coming—in fact, it helps them with liability. Many homes look phenomenal, but once the curtain is pulled back, plenty of functional issues reveal themselves. A typical inspection can run anywhere from $450 to $500, but it’s money well spent.
Consider title insurance. This ensures that the seller actually owns the home and can legally convey it over to you. It also takes care of things like past due taxes, property line disputes, etc.
Make sure the contract is written so that the seller takes care of any past due taxes, assessments, lingering liens, or liabilities. Also, while you’re at it, make sure you get a homestead tax rate. In the state of Minnesota, there’s a homestead tax rate and a non-homestead tax rate; don’t pay more than necessary.
Get approved for a mortgage now. So many buyers drag their feet on this. It’s never a good idea to wait until you find the ideal home to get pre-approved by a lender, and that’s because so many buyers are already approved and ready to go. The seller won’t even consider your offer if you can’t show them you’re pre-approved. Once a loan officer can run the numbers and figure out your budget, you’ll know exactly what your monthly payment will be and how much you’ll have to put down.
I have resources available for you and ways to connect you with trusted lenders in our area, so don’t hesitate to reach out to me. Remember: Don’t lose sight of the main goal of getting you and your family into a home that you love. Choose your battles wisely, because you’ll be enjoying your new home for years to come.
If you have additional questions about the information covered in today’s message, feel free to call or email me. I would love to speak with you.
If you’re thinking of entering the real estate investment game, here are the answers to some commonly asked questions about how to become successful:
What does a good real estate investment look like?
A good real estate investment is a property that will bring you a profit at the end of the month after paying expenses, which include (but aren’t limited to) taxes, insurance, debt service, maintenance, and other unexpected costs. If you can find a property where the numbers work out that way for you, it’s a good investment.
What kind of financing is available?
You can still get into a duplex, triplex, or quadruplex with only 3% down if you’re going to be an owner-occupant (i.e., if you’re planning to live in one of the units yourself). For those just starting out in the investment game, this is an excellent way to go; it’s a good idea for beginners to stick with four or fewer units. If you get a property with five or more units, you’ll need commercial financing.
What are the tax advantages of real estate investing?
I’m no CPA, but I know from personal experience that owning and investing in real estate certainly does provide tax advantages. Some tax-friendly expenses include mortgage interest, property tax, operating expenses, depreciation, repairs, and professional services.
A more seasoned investor might add a piece of real estate to their investment portfolio, which is a great way to diversify. Real estate and the stock market tend to offset one another, so it’s a good idea to include an investment property among the stocks, bonds, mutual funds, money markets, etc., in your portfolio.
How can I pay off the property?
You’ll have to put money into this transaction at the beginning in the form of down payments, closing costs, and whatever you need to do to prepare it to rent. However, the renter will be paying you rent each month, so you’ll be paying off the mortgage over a number of years. This way, the renter is purchasing the property for you.
Does the property’s value increase over time?
It does! Value appreciation is the icing on the cake. According to the Minneapolis Association of Realtors, there was a 42% increase in property value between 2014 and 2018—that’s a good investment!
All these factors combined show that investing in real estate can be a great way to build your portfolio and overall wealth. If you have any questions about investing, don’t hesitate to reach out to me. I’d be happy to help you get started!
Juggling both a home sale and a purchase can be difficult. You might need to sell before you buy, but what if you’re not able to find anything you like? What if you find your dream home before you’ve sold? I’m going to answer these questions and more for you today.
One option you have is called a sell, buy transaction. This is the most common because most homebuyers need to use the profits from their home sale to put a down payment on their next one. We’ll get your home on the market, target campaigns to the ideal audience, and get your home sold quickly. Once it’s sold, we’ll take you out to find the perfect new home. Then we’ll close these two transactions on the same day. The sale will happen, the equity will come out, and you’ll be able to use it to buy the new home.
If you find your dream home before you sell, we can help with that transition.
If you end up in a situation where you’ve sold your home but you haven’t found anything to buy yet, we can write in the purchase agreement, “Sale subject to seller finding home of choice in X number of days.”
If you’ve found your dream home, but your current home hasn’t sold yet, you need to make an offer now. Unless you have a large pile of cash sitting around somewhere, you’ll have to get a little creative. One option is a bridge loan, which allows you to borrow the equity out of the house you currently live in to purchase the new house. Another option is qualifying for both mortgages and paying them both for a short time until the home is sold. Finally, you can sell for cash to an investor who doesn’t care about the condition and can close quickly.
If you have any questions for me, feel free to reach out via phone or email. I look forward to hearing from you soon.