Sharon Simmons' Blog
Don't let your neighbors get in the way of a fast, easy and profitable home sale. Instead, home sellers can take advantage of the following tips to prevent neighbors from sabotaging a property sale:
1. Talk to Your Neighbors Before You List Your House
Communication can play a key role in the home selling process. As such, maintaining open communication with your neighbors can make a world of difference, particularly for those who want to reap the benefits of a quick, simple home sale.
Reach out to your neighbors before you add your residence to the real estate market. This will allow you to outline your home selling plans to your neighbors.
Also, don't be afraid to ask your neighbors for support.
In most cases, neighbors will be happy to help you achieve your home selling goals. And if your neighbors keep their houses looking great, they may be able to create an attractive neighborhood that helps your property stand out in a competitive real estate market.
2. Respond to Neighbors' Concerns and Questions
Neighbors may have many concerns and questions about your decision to sell your home. With an open approach, you can respond to neighbors' concerns and questions with ease.
If you've lived in your neighborhood for many years, you've likely become close to your neighbors and may consider them to be friends. Therefore, it may be difficult to share the news that you intend to sell your house.
However, try to stay calm, cool and collected as you discuss your home selling plans with neighbors. And remember, even though you plan to live elsewhere in the near future, you can still keep in touch with your friends at any time.
You can always lean on neighbors for home selling advice too. If neighbors have sold houses in the past, they may be able to offer expert insights into the home selling cycle that you might struggle to obtain elsewhere.
3. Consult with a Real Estate Agent
When it comes to selling your house, meeting with your neighbors can help you get the best results possible. Of course, if you work with a real estate agent, you should have no trouble navigating the property selling process as well.
A real estate agent understands what it takes to list a residence and stir up interest from homebuyers. This housing market professional can teach you about the ins and outs of the real estate sector. Plus, he or she will set up open houses and home showings, keep you up to date about offers on your house and negotiate with homebuyers on your behalf.
Perhaps best of all, a real estate agent is happy to respond to any of your home selling queries. Thus, if you're unsure about how to discuss your home selling plans with neighbors, your real estate agent can provide you with plenty of help.
Ready to add your house to the real estate market? Use these tips, and you can include your neighbors in the home selling journey.
If you've inherited a house you'd rather not live in, here are some things to consider—before you accept it. Before we get to the selling or renting part, calculate the cost of:
Yes, you may decline your inheritance if it's too burdensome to accept, as long as you're not already named on the deed, and as long as you meet applicable deadlines for submitting a notarized disclaimer of interest form.
Now let's look at selling or renting.
1. Selling an Inherited Home Can Produce High Tax Savings.
The federal tax treatment of an inherited home, when sold, can be highly supportive of a deceased homeowner's loved one or family.
Under IRS stepped-up cost basis rules, you may sell without paying tax on the gains that accrued since the deceased homeowner first bought the house. You'll pay capital gains tax only on any increase in the property's value between the time you inherited and the time you sold. These savings alone can be a great gift to you.
Inheritance taxes are not a major factor for most homes, and that factor is easily checked.
2. Working Out a Shared Inheritance Commonly Means Selling.
Are you one of several beneficiaries? Does everyone agree on what to do? One sibling may wish to sell. Another might want the house. These factors typically mean someone will sell their inherited interest.
Selling after a loved one has passed away is quite often the best decision for all concerned. It relieves family or other loved ones of the costs of repairs and upkeep, utilities, taxes and insurance. It also ensures that everyone receives an equal share of the gift.
3. You Could Have a Choice of Which House to Sell or Rent.
If you inherit a free and clear title, you can move into your inherited home, and enjoy it without debt, while selling your current home. Be sure to use the time when the home is in probate to speak with your real estate agent about preparing the home for sale.
Renting out the house for investment income is another option. Your real estate agent can check for any zoning restrictions and offer you further pointers.
Tip: If you rent out the home it won't be a primary residence, so it won't get the capital gains tax benefit when you ultimately sell the home. Yet certain rental property spending is tax-deductible, and rent-related income has a low tax rate.
Need Advice to Fit Your Situation and Today's Market? We're Here to Help.
Inheriting real estate can put a lot on your plate. Your real estate agent can advise you step by step, offering indispensable knowledge when you need it most.
Adding your home to the real estate market may prove to be challenging, particularly for a property seller who fails to plan ahead. Lucky for you, we're here to eliminate the guesswork commonly associated with the home selling process.
Now, let's take a look at three tips to help you list your house and streamline the home selling journey.
1. Enhance Your House's Curb Appeal
How your home looks to prospective buyers can make a world of difference during the home selling journey. If you house fails to impress buyers right away, it may take many days, weeks or months for your house to sell. Conversely, if your home instantly dazzles buyers, you could boost the likelihood of a fast, profitable house sale.
Ultimately, you should allocate time and resources to bolster your house's curb appeal before you list your residence. Mow the lawn, trim the hedges and perform assorted home exterior maintenance and upgrades. And if you need assistance with home exterior projects, you can always reach out to local home improvement professionals for additional help.
2. Eliminate Clutter
Although you may have collected a massive assortment of antiques, decorations and knick-knacks over the years, these items may do more harm than good when you decide to sell your house. In fact, myriad personal belongings scattered throughout your house could make it difficult for homebuyers to envision what life may be like if they purchase your residence.
Prior to listing your house, you should remove as much clutter as possible. You don't necessarily need to dispose of excess items, but it may be a good idea to rent a storage unit so you can store these items until your residence sells. On the other hand, if you no longer need certain belongings, you can sell these items at a yard sale or online or donate them to a local charity.
3. Hire an Expert Real Estate Agent
If you are unsure about how to proceed along the home selling journey, you may want to hire an expert real estate agent. That way, you can receive plenty of support as you navigate the home selling journey.
A real estate agent understands what it takes to list a house in a buyer's or seller's market. He or she will learn about you and your home and develop a plan to ensure you can maximize the value of your residence. And if you ever have concerns or questions about the home selling cycle, a real estate agent can respond to them.
Let's not forget about the assistance that a real estate agent will provide after you accept an offer to purchase your house, either. A real estate agent will guide you through the home closing process. By doing so, he or she will help you avoid stress as you finalize your home sale.
Prepare to list your house – use the aforementioned tips, and you can add your home to the real estate market and move one step closer to selling your residence.
Those men and women from the millennial generation are now the largest segment of first-time home buyers. A full 66 percent of people who are purchasing their first home fall into this age group. Not only that, but millennials also comprise more than one-third -- 34 percent -- of the overall home buying market. It's crucial that you learn how to appeal to them.
1. Opt for an Open Floor Plan
Today's millennials love to entertain and have guests in their homes. In order to accommodate their desire to offer people the best chance to mingle and get to see everyone, they prefer an open floor plan to separate spaces. This is especially true when it comes to the kitchen, living and dining areas.
2. Updated Bathrooms and Kitchens
Millennials prefer that the home they purchase has already been updated instead of them having to do it themselves. In many cases, this generation will have to use nearly all of their savings in order to put the down payment on their new home. This will leave them with little money to make any updates or improvements.
3. Low Maintenance
While opting for low-maintenance features has always been a driving force for many home buyers, there is no generation that has embraced this concept more enthusiastically than millennials. Instead of spending their free time doing chores and home maintenance jobs, millennials would rather be entertaining or exploring their neighborhood's amenities.
4. Add Home Office Space
Remote work isn't just the trend of the future. It's the way many millennials advance their careers these days. Carving out a dedicated space means that these young home buyers can simply move it and set up their work station without any lag time.
5. Invest in Home Technology
Not surprisingly, millennials tend to be very comfortable with technology. Not only that, but they expect to connect with technology at every juncture in their lives. Opting for smart home features can help them save money, keep tabs on their investment and enjoy access to Wi-Fi throughout the home.
6. Aim for Energy Efficiency
Millennials want to save money while also protecting the environment. Solar panels and smart thermostats are just two ways to help them do that.
Many of the above tips will also make your home more attractive to nearly everyone who is in the market for a new home. However, they'll hold particular appeal for those who are millennials.
If you’re trying to sell your home, there are many things you need to think about. One of the reasons that it’s wise to hire a realtor is that they can handle a lot of the difficult stuff for you. From home showings to phone calls to sealing the deal, your realtor will be with you every step of the way.
One thing that you can do to help your realtor out is trying to avoid things that will scare off buyers in your home. While some things are out of your control (we’re looking at you radon), you can check and remedy a lot of problems before a buyer even sets foot in your home.
Leaky, Aging Roof
Roofs last around 20-25 years. If it’s been forever since you have paid attention to your roof, you’ll need to take a second look before selling. Your buyer is going to either ask for some kind of rebate or go for a home with a newer roof. Roofs are one of the things that home inspectors often see the most problems with.
If your gutters are in disrepair, you might want to have them cleaned or replace them altogether. Faulty gutters are often what causes problems with the roof. If rain water or snow melt can’t properly drain from the gutters, more leaks may be found in the home.
If your appliances are outdated, consider replacing them. Buyers don’t want to move into a new home only to need to head out to buy a new refrigerator, range, or dryer. Buyers like things to be ready for them, and they’re willing to pay for it. You’ll definitely get a return on your investment when you buy new appliances.
Outdated Or Neglected HVAC System
It’s important to keep up with regular maintenance when it comes to your heating and cooling system. Keep it clean and keep regular maintenance appointments. These systems are costly to repair and buyers do not want to deal with these issues immediately (or ever if they could avoid them!) Get the HVAC system serviced before you put a for sale sign out front to keep your buyers happy throughout the inspection and sale process.
Your realtor will be a big help in assisting you to price your home right. They will perform a CMA (comparative market analysis) in order to help you find the sweet spot for pricing your home. An overpriced listing will make buyers wonder. A property must be priced right in order to get buyers through the door to even look at the home.