S P E C I A L S E C T I O N : R E A L E S TAT E
behalf. Ask friends and family for references of agents they’ve
used in the past. Look up their current listings to see if they align
with the type of home you want to buy or sell. This will also
indicate their knowledge of the market.
7 BUYING/SELLING: Get a second opinion.
When you have lived in your home for years, it’s easy to overlook
problems that potential buyers may spot right away. Have a
relative or trusted friend come over to spot any small fixes that
you can make prior to putting your home on the market to make
sure it’s in optimal condition prior to selling. When considering
buying a home, it’s also helpful to have someone who is not
buying the home go with you to take a look. He/she will be able
to point out potential issues that you may not see when trying to
make such an important decision.
8 SELLING: Ignore the housing market.
Don’t waste your time watching the housing market for the best
time to sell. According to Investopedia, “it doesn’t matter what
your home is worth at any given moment except the moment
when you sell it. Being able to choose when you sell your
home, rather than being forced to sell it due to job relocation or
financial distress, will be the biggest determinant of whether you
will see a solid profit from your investment.”
easier to satisfy a wider range of buyers’ desires for luxury, but be
sure to keep the colors neutral.
10 SELLING: Don’t spend earnest money!
Many sellers make the mistake of depositing and spending
earnest money before closing day. If the transaction doesn’t go
through or the buyer pulls out due to repair issues, it is up to the
seller to return the cash. It is recommended to have a real estate
agent or broker hold the deposit. Most buyers’ earnest money
will be held in an escrow account until the closing day, allowing
the money to remain untouched by either party.
9 SELLING: Will renovating always increase
my resale value?
Make conscious decisions when renovating your home. While
newer will entice potential buyers, be cognizant of what rooms
you update and how you do it. While updated kitchens will
increase the value of your home, be sure to appeal to a wide
range of tastes. A good place to start is with the appliances.
Realtor.com states that homes with stainless steel appliances sell
15 percent faster than those without. Updated bathrooms are
THIS SECTION SPONSORED BY
FUN FACT: Get the name and numbers.
Just when you think you’ve checked all the boxes for an easy sell
of your house, take a second look at your address. According to
Zillow, street names and house numbers matter! If you happen to
live at 666 Fanny Hands Lane, you may be out of luck (however
that particular street is in the United Kingdom, so you should be
safe). Innuendo-laden street names tend to not sell as quickly as
those like Thunder Road. American numerology says that 666
is bad luck and could decrease the value of your home by 2-3
percent. Also, steer clear of the number four, considered unlucky
in Chinese culture. Stick to the number eight, or include the
lucky digits 316 in your asking price!
Before entering the real estate market, educate yourself. The more
you know, the better your chances are for nailing down the home of
your dreams! n
Peters Township | June/July 2016 | icmags.com 71