How to sell a house that didn't sell the first time
If your house has just expired from the market, you are probably bombarded with realtors calling you, looking for their next listing.
But before you give your realtor an extension or choose a new one, step back and examine the six key points to ensure you sell your house the next time.
You need to spend time researching ways to get back on track by examining the previous strategy your Okanagan realtor was using and why it failed.
When you analyse your past relationship, you will probably discover that one of these following four important components in selling your home was lacking:
Teamwork: Were you and your listing agent working together to make the sale of your home a reality?
When discussing what you want to achieve in selling your house, did your agent provide a concrete marketing plan to get the job done?
If the objectives were not realistic, did the listing agent let you know the problems at hand or did they just take your listing for granted?
An open line of communication is imperative in getting your home sold. If you saw your agent once and then did not talk to them again for the duration of your listing – time to find a new agent.
Marketing your home for more reach: Often, the only mistake made when hiring the first realtor is they had no marketing plan. If your home is not exposed to the market properly, it is tough to find a buyer.
When interviewing agents, examine their marketing plan and reach. Ask them to show you how and where exactly your property will be marketed. Ask for customer testimonials to be sure others have been happy with their service and results.
The condition of your home: Would you consider the condition of your house excellent?
Are there things you could do to make your home more desirable the next time it is for sale? If your house looks like a dream house for someone else, it has a far better chance of selling for a better price than homes that offer potential.
When buyers come in to check your house, are they satisfied with what they see or they are probably calculating the amount of money they’ll need to fix the house? If so, your price will need to be adjusted accordingly.
Price: Is the price of your house working for you or against you? If the price works for you, and the marketing plan was effective, then a suitable buyer should have materialized within the listing period. I
f it works against you (too expensive), many potential buyers will ignore your home.
The right price can be determined by so many factors such as:
- Market conditions – What is happening in the economy in your city?
- Competition and the number of houses within your price range
- The condition of your home, and
- Market timing – Some months are better for selling certain homes than others.
Any real-estate professional you interview should be able to help you with all the above. If they cannot, move on.
For more information on the best way to sell your Okanagan home the first time (or the second, or the third), contact the Salt Fowler Team at RE/MAX Vernon and Just Add Salt!
Big red flags to look for when buying a new home
As the prime house-hunting season nears, future homeowners should know the drawbacks that may arise from buying a home that is not carefully inspected prior to purchase.
Buying a home is a big, financial commitment and it's crucial to know everything before investing in what is likely your biggest asset.
Today, we are listing some of the most common red flags when buying a home.
- Rotted Wood — Wood rots over time, especially when it’s exposed to moisture. Luckily, the Okanagan isn’t overly moist or humid, however there are many older homes that could easily have rot. Therefore, inspecting the wood in the kitchen, bathroom, joists and attic, etc. is definitely a must for every future homeowner.
- Inadequate Ventilation — This is crucial, and can be the cause of issue No.1. You should make sure the attic, crawl space/basement and bathrooms are properly ventilated.
- Maintenance Of Appliances — If appliances are included, a close inspection will help tell that tale of whether they will last for the long or short term. Appliances can be a huge expense if buying new, so you want to know if you should include them in your budget or whether they will last for a while.
- Amateur Repairs — Sellers sometimes are inclined to hire their friends and amateur electricians and other repair people without extensive knowledge on the subject. This is why house repairs — from electrical to plumbing, should be properly inspected so that they don't cause more damage in the long-term. Beware homes with kitchen and bathroom renovations with no permits. They might look great, however if they are not finished properly and professionally, you could be in for a huge future expense.
- Inadequate Drainage — Water intrusion in the basement is often caused by poor drainage, which you should have on your inspection list. Simply extending downspouts and adding more drain rock may fix most drainage issues, however a thorough inspection is needed to ensure there aren’t further, more extensive issues that could cost a fortune.
- Heating And Cooling Systems — Simply because they are used seasonally, the heating and cooling systems can be subject to failure, and could be emitting carbon monoxide fumes that are harmful to you and your family. Have them checked by a professional.
- Environmental Hazards — Hazards to the environment, such as the dreaded “M” word (i.e. mould). Most moulds are harmless and can easily be removed with soap and water, however a few are extremely dangerous. If those are found, you will need to call the guys in the Hazmat suits.
Remember, when buying a home, you are investing in your future and the future of your family, which is why you should always hire a professional, reputable home-inspection company to alert you of any major problems.
Whether these problems are past, current or future, they can have major affects on your quality of life and your pocket book.
Protect yourself, hire an inspector.
For more information on hiring a home inspector or purchasing the home of your dream, please contact the Salt Fowler Team at RE/MAX Vernon and “Just Add Salt!”
Home-staging tips to spruce up the exterior of your home
When putting your Okanagan home up for sale, you have to sell it to a prospective buyer three times.
- Once online
- The second time when they drive by
- The third time when they come inside to take a look at what they will be purchasing
If what they see outside is not encouraging, they will probably keep moving.
Research has shown that the overall return on investment for landscaping is only seven per cent, so you definitely don’t want to go crazy. However, staging your home the right way, both in and out, is a sure way to sell your home in less time for more money.
Here are five tips for staging the exterior of your home that will not break the bank and will give a substantial return on Investment when selling your home.
- This is a simple fix. If you water, cut and regularly trim your lawn, use a fertilizer, utilize a weed-control program, your lawn will look nice and green. Watering your lawn while it is for sale is imperative.
- If your lawn is not in good condition, you can totally re-sod the area. If you lay the sod yourself, and pick up the sod from the turf farm, the cost isn’t as huge as you might think. It's totally worth it.
- Doors and Lighting:
- Your main entry should be attractive and appealing. Try a new coat of paint on the door, with a modern, in-style colour. Make sure you choose the colour that goes well with the rest of your home.
- Add a pot of flowers for colour or, during the winter, use an urn with greenery.
- If your door and lighting are old and in need of urgent repair, do so or completely replace them.
- Add a bistro table and a few chairs if you have space on your porch. New or used, the price is justified for the return.
- Make sure a prospective buyer sees a well-kept, low maintenance property. Clean up all the weeds, trim your flowers and add coloured mulch.
- If your garden is scanty or non-existent, make sure the flowers, shrubs or trees that you add to the garden give it a professional and a well-cultured look.
- Your driveway is one thing a buyer can see from the main house. You don’t want potential buyers to be turned off with an ugly access. A nice concrete sealer or a blacktop slurry will help make older driveways sparkle.
- If the driveway is gravel, consider paving. If this is not in the budget, a well-placed load of nice, new gravel can make all the difference for showing purposes.
- Decks and patios:
- If you have a deck or patio that is looking a little under the weather, ensure you power wash and stain it. Adding flower pots around the deck or patio will make it more attractive and hide any minor imperfections.
- If your deck and patio are in poor repair, repair or replace them. Any home inspector will alert a buyer to an unsafe or faulty deck. If you have nothing occupying the space in your backyard, create an outdoor space for entertainment purposes. Buyers are attracted to fun, well-utilized spaces.
For more information on how to prepare your home for showing, both inside and out, contact your Okanagan real estate experts, the Salt Fowler Team at RE/MAX Vernon at [email protected] or 250-549-7258, and Just Add Salt!
The pros and cons of a swimming pool home
In the Okanagan Valley, many of us love the idea of owning a home with a swimming pool.
Swimming pools are a luxury for some people, for others they feel like a common necessity. Relaxing with our kids in those long Okanagan summer days, and drinking and dining beside the water during lazy summer nights - but is it an investment that pays off?
If you've been thinking about buying a home with a swimming pool, here are the things you should know:
It’s a great way to get a daily dose of exercise for you and your children.
It’s perfect for relaxing, and ideal for spending weekends under the summer sun. It can keep your children where you can supervise them, rather than out and about.
It’s great for birthdays, parties, and other fun and special events.
It may help you sell your property to a buyer who wants a swimming pool.
It can be dangerous with children around, or, for that matter, anybody who doesn’t know how to swim. Every swimming pool needs proper safety fencing and door locks installed. Make sure you are prepared to pay for these added items, plus appropriate insurance.
Be aware that if you install a pool, chances are very good that you will never increase the market price of your home enough to include what you spent on the pool unless you own the home for a very long time.
Pools require constant maintenance, care, and filtration. It’s not a “set it and forget it solution” – it’s a part time job, like most luxury items.
The ongoing maintenance is costly, and you must be prepared for the added cost of running a pool. The chemicals, heating, and water bill alone are well into thousands per year.
If you add a pool to your home, be aware that it will be a long time before you get your investment back, if ever. If you buy a home with a pool already installed, you must realize that when you sell, there is a limited market for your home. In both scenarios, you will have a huge ongoing maintenance bill.
Some buyers want to buy homes with pools, but a larger number won’t touch them. Resale wise, they aren’t a great investment, but enjoyment wise – they are the best.
So, if you are up to investing in a swimming pool for your home, or buying a home with a swimming pool, make sure the enjoyment will outweigh the costs.
Either way, here’s wishing you happy and pleasant summer days ahead!
More Just Add Salt! articles
- Waterfront? Where? Apr 10
- House won't sell? Mar 13
- Loo redo Feb 12
- DIY kitchen fixes Jan 22
- Holiday housing market Dec 8
- Why buy a condo? Nov 23
- First-time buyer? Oct 26
- Stop paying rent! Sep 25
- Cold, hard facts: Part 3 Aug 14
- Cold, hard facts: Part 2 Jul 14
- Cold, hard facts Jun 16
- Spring home selling tips Mar 11