Luxury Selling: How to Qualify Potential Buyers to Ensure They Can Afford Your Home

Posted in Home Seller Tips by Michigan Real Estate Expert on October 22nd, 2021

Luxury Selling: How to Qualify Potential Buyers to Ensure They Can Afford Your HomeLuxury estates can be a challenge to sell. The more expensive a home is, the less potential buyers there are. The biggest hassle is going through the process with people who can’t actually afford the home, only to have it fall apart at the last minute.

Here are some ways to make sure the property is only being viewed by qualified buyers.

Only Accept Offers From Buyers Who Are Pre-Qualified From A Lender

One of the only ways to guarantee a buyer will be able to afford a luxury home is to let the bank do the work on your behalf. By only accepting offers from people who have been pre-qualified by a lender, it allows the seller the peace of mind of knowing that every offer is a legitimate one.

Luxury Agents Will Have Vetted Their Clients

Working with a real estate agent with a specialty in luxury properties is one way to make sure the vetting process is handled effectively and legally. These agents do not have time to waste with people who can’t afford a home in this price range and they will have a roster of clients who are not only looking for a new luxury house, but can afford one. Talk to the neighbors and see who their buying agent was. This will give an idea of which professionals are working with clients who can afford the neighborhood.

Use Broker Open Houses Over The Traditional Open House

Hosting an open house in a luxury home is a dangerous prospect. There is no way of knowing how many visitors can actually afford the home and how many just want to look around to see how the other half lives. On top of that, it’s a serious safety risk as luxury open houses bring out potential thieves to case the place and see what the security is like.

For luxury sellers a broker open house is the best course of action. These open houses are closed to the public and only available to brokers who have clients that are looking for a luxury home.

There are more luxury homes on the market than buyers and standing out is important if you want to sell quickly. Trying to sell a home like this on your own is a disaster waiting to happen. Make sure to talk to real estate agents in the area who deal with luxury properties until you find one you are comfortable with. Contact your local real estate professional today for more information.

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Dealing With Stress Related To A Home Sale

Posted in Real Estate by Michigan Real Estate Expert on October 21st, 2021

Dealing With Stress Related To A Home SalePutting a house on the market can be a major life decision. Even though there might be a bit of a change during this time, there are ways to deal with the stress. Even though home showings, negotiations, and constant phone calls from real estate agents can be a lot to handle, there are a few tips for dealing with the stress. What do homeowners need to know if they are selling a home? 

Choose The Right Real Estate Agent

First, homeowners must make sure they choose the right real estate agent. Think about the goals during the home sale. Is the goal to sell the house as quickly as possible? Is the goal to sell the house for as much money as possible? Maximizing the value of a home may take some time, so homeowners need to find a real estate agent who can work with them to meet their goals. Always make sure the real estate agent has time to commit to the listing before signing a contract.

Always Do Homework

Even after partnering with a real estate agent, there is still a lot of homework that homeowners need to do during this process. Homeowners need to take a look at comparable properties in the local area to see how much their house might be worth. Then, homeowners also need to take a look at their house and see if there are any red flags that need to be addressed. There might be some repairs to handle before the home gets put on the market. Finally, homeowners also need to consider every offer thoroughly. For example, homeowners should make sure a buyer that requires financing has a pre-approval letter. 

Be Prepared To Adjust

Finally, homeowners should be prepared to adjust during the process. There is a middle ground between being too flexible and staying firm. For example, if a buyer is asking for a lot of repairs, homeowners might want to make some of the repairs but not all of them. Working with a real estate agent can help homeowners make sure they are making a wise decision. There are some offers that should be dismissed right away, but some potential homebuyers might be worth negotiating with. 

 

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Selling Your Home? Don’t Skip These 3 Essential Steps or Your Sale Will Suffer

Posted in Home Seller Tips by Michigan Real Estate Expert on October 15th, 2021

Selling Your Home? Don't Skip These 3 Essential Steps or Your Sale Will SufferIf you want to sell your home quickly — and for the most profit — you can’t just list it and cross your fingers. Successful sales are well-planned sales, and there are several ways in which you can make sure your own home sale turns out as you’d like it to.

1. Know Your Target Market

What kind of people are buying homes in your area? Is your neighborhood popular among new families, retirees, young singles? Do a little research to see what type of buyers are typically attracted to the area, and figure out how your home caters to their lifestyle. Marketing is one of the most important aspects when it comes to a successful home sale, and knowing who to target is the first step.

Once you have learned a bit about your potential buyers and what they’re looking for, use that information to guide the rest of your sale preparations. Consider what you’ve learned about their wants and needs and carry that into any renovations you do, your listing, and your open houses. Make your home one that your buyers really want to live, and you just might find yourself in the midst of a bidding war!

2. Call In The Pros

When you sell your home without enlisting in the help of a professional, you open the door for significant mistakes to be made. Real estate professionals have the expert knowledge and experience that is needed to steer your home sale towards the best possible outcome. They can offer advice on listing price, marketing materials, open houses, offers received, and can take care of paperwork.

Attempting to do everything yourself may sound feasible, but you could sell yourself short by accidentally pricing your home too low, or you may be on the market forever if you price it too high. Mistakes in contractual paperwork could land you in hot water, and overall you’re more likely to experience stress during your home sale if you try to do it all yourself. Find a real estate agent that you’re comfortable with, and you’ll be more likely to get what your home is worth without the extra stress.

3. Fix It Up

Making sure that key renovations are up-to-date before selling your home is another crucial factor if you want to sell it quickly and profitably. Important things to consider include your kitchen, bathrooms, and roof, as buyers tend to scrutinize those areas the most during a walk-through. Make sure that everything is in good condition and looks presentable before listing — you don’t want potential buyers to see any red flags when looking at your property.

Ready to sell your home? Contact your local, experienced real estate professional today to make the most of your sale.

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The Top Ways To Add Storage To A Home

Posted in Real Estate Tips by Michigan Real Estate Expert on October 14th, 2021

The Top Ways To Add Storage To A HomeThere are many homeowners who are looking for help with storage. Even after moving in, many homeowners still have a lot of items they need to get rid of and this is where built-in storage solutions can be helpful. Even though some storage options might be pricey, there are inexpensive options available as well. Take a look at a few solutions below, and improve the storage situation. 

Use Space Under the Stairs

One option that many homeowners overlook is the space under the stairs. If there is a second story, there may be an area under the staircase that looks like a storage space. There should be plenty of opportunities to add a bookcase, a shelf, or even a cabinet. Even a few drawers can make a significant difference. 

Consider Going Under the Bed

Another option is to use storage space under the bed. If the bed is on a frame, there should be room to add a box or two. This could be a great way to create more storage space in the bedroom without adding another piece of furniture. There might even be opportunities to put the bed on risers, creating even more room underneath the bed. 

Use Tilting Drawers

Homeowners may want to get creative by adding tilting drawers. If there is an awkward location in the kitchen, a hinge solution might be the answer. What this means is that it is possible to pull the door out of the drawer and create additional storage inside the area. This is a great way to hide a garbage can or a recycling bin. Most contractors can add this type of storage relatively quickly. This could also be a great solution in the bathroom. 

Take Advantage of Sliding Storage

Homeowners also need to take advantage of sliding storage. This is a great way to get more room out of narrow spaces. For example, there might be room in the kitchen to add a sliding shelf that doubles as a spice rack. One possible location is the area between the refrigerator and the wall or counter. There might also be a small spot between the bathtub and the wall, which could act as a great shelf for linens.

 

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Keep Your Home Free From Clutter With These Helpful Unpacking Tips

Posted in Real Estate by Michigan Real Estate Expert on October 5th, 2021

Keep Your Home Free From Clutter With These Helpful Unpacking TipsThe thrill of purchasing a new home is unparalleled; however, once you close on the sale, the dreaded unpacking process begins. You probably did not realize just how much stuff you had until you had to pack it all up. Worse yet, you need to unpack it when you get to your new home. If you don’t unpack intelligently, your new home could end up disorganized and full of clutter. With this in mind, how can you unpack without leading to a tremendous amount of clutter in your home?

Get Rid Of Items You Do Not Need

As you go through the boxes, ask yourself if you are actually going to need the items as you unpack them. If you do not need them, consider donating them to a local charity. Just because you brought it with you does not mean that you need to keep them. Evaluate the items in your boxes, and discard them when not needed.

Unpack Room By Room

Hopefully, you labeled your boxes as you packed them up, so this is a perfect time to organize your items before you open the boxes. Furthermore, it is faster to carry the boxes to the individual rooms than to carry the individual items to their designated locations one at a time. If you unpack room by room, you can ensure every item has a place (and that every item is in its place).

Take Advantage Of Organizers

While unpacking your boxes is half the battle, the other half is using organizers to keep your belongings in the right spots. There are plenty of organizers you can use to keep your items in the right locations. Examples include bins, boxes, and trays. You can use them to organize your storage spaces, drawers, and closets. You can even use wire organizers that prevent your cords from creating trip hazards. Use every tool available to keep your rooms organized.

Prevent Clutter From Developing In Your Home

There are a lot of homes that develop a significant amount of clutter during the unpacking process, but your home does not have to look this way! When you start to unload those boxes, put these tips to work for you!

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Top Considerations When Adding a Powder Room To A Home

Posted in Real Estate Tips by Michigan Real Estate Expert on September 30th, 2021

Top Considerations When Adding a Powder Room To A HomeA lot of potential buyers have a set number of bathrooms they need in their homes. Therefore, one of the possible ways to increase the value of a home is to add more bathrooms. It is possible to add a half bath to some homes. Even a small bathroom on the first floor can make a home significantly more attractive. At the same time, adding a powder room is not necessarily the best renovation project for all homeowners. What do homeowners need to think about before adding a powder room to the home? 

Consider The Space In The Potential Powder Room

Even though powder rooms do not take up a lot of space, homeowners still need to make sure the space is available. A powder room typically has a toilet, a sink, and a small mirror. Most powder rooms are approximately five feet by three feet. Homeowners must make sure they have enough space to add a powder room before they get started on the renovation project. 

Think About Where The Space Is Coming From

Homeowners also have to think about where this space is coming from. Is the space going to eat into a stairwell, impacting its integrity? Is the powder room going to take space from the foyer or the living room? The space has to come from somewhere, and homeowners need to ensure they are comfortable living without it. 

Map Out The Location Of The Pipes 

Of course, powder rooms also need to have a sturdy plumbing supply to power the toilet and the sink. Therefore, homeowners need to make sure there are pipes nearby. The closer the pipes are to the potential powder room location, the less expensive the renovation is going to be. If pipes have to be added to the area, the project will instantly become more expensive, eating into the potential profits on the sale of the home. 

Think Carefully Before Adding A Powder Room

Even though a powder room might be a good decision for some homeowners, it is not necessarily a smart decision for everyone. Everyone has to think carefully about the benefits and drawbacks before getting started. 

 

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Four Tips on Selling a Home With Pets

Posted in Real Estate Tips by Michigan Real Estate Expert on September 23rd, 2021

Four Tips on Selling a Home With PetsThere are more residential homes with pets in the U.S. than in any other country. However, that also means that the home also takes on the characteristics of the pet, including the smells, and that can make things a bit difficult when it comes time to sell that home. Homeowners with pets will have to work at removing any signs the pet has left behind. Here are four tips on how to do that.

Get Rid of the Obvious Evidence

As much as homeowners love their pets, when it comes time to sell a home any sign of the pet has to be removed. Don’t forget where the pet left their marks as well. Cats, for example, love to rub against specific locations to leave a scent. Fur and oil end up leaving a mark on the walls over time. Homeowners should look for and expect to make any sign of the pet’s presence disappear for a successful sale. This can be challenging if the you are still living in the home. The best way to approach removing the scent is to wait until you have moved out and deodorize and clean at that time.

Deodorize, Deodorize, Deodorize

Pets produce a distinct smell over time, but pet owners usually don’t notice it. Have a friend or neighbor come over after every cleaning to check if the pet smells are still there. People who do not own pets will notice pet smells immediately. The more sensitive the nose, the better. Homeowners should keep deodorizing the home until every pet smell is sufficiently purged. Then, bake some cookies on open house day.

Deep Cleaning

Anything with fabric, like carpets, will need to be deep cleaned. People with allergies will pick up on an animal’s fur right away. Animals also have a habit of leaving stains. Ideally, the house carpet should be replaced before a sale, but that’s not always practical. So, plan on a thorough professional carpet cleaning. Hard surfaces and walls should be fully washed and sanitized as well.

Don’t Forget the Backyard

If your pet likes to roam, the backyard needs help too. You should redo the landscaping and erase any sign of the pet’s presence. Dogs are the big culprit in this category. Fresh lawn and new flowers help a lot, and new bark is a great ground cover at low cost.

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An Overview Of A Smart Fridge: What To Know

Posted in Real Estate by Michigan Real Estate Expert on September 22nd, 2021

An Overview Of A Smart Fridge: What To KnowToday, technology has come a long way, and this includes refrigerators. There are many people who have smartphones, home connected devices, and smart TVs. Now, there are smart refrigerators as well.

While a smart refrigerator is still a relatively new addition to the market, this gives users more control over their fridges and how they work. For example, it is now possible for homeowners to use a smart fridge to send and receive information using an electronic screen on the exterior of the refrigerator. How does this technology work and why is it so important?

What Can Homeowners Do With The Screen On A Fridge?

There is a lot that homeowners can do with the information on their refrigerators. For example, they might be able to put digital notes on the fridge. That way, they do not have to worry about forgetting something important. Homeowners can also use this screen to watch TV when they are in the kitchen. This could save someone the trouble of having to put a TV in the kitchen. Then, homeowners can use their refrigerators to listen to music as well. Their refrigerators can also send an alert when the homeowner is running out of something or when there is low ice. Homeowners might be able to do all of this without opening the door.

Major Appliance Companies Are Now Offering Smart Fridges

Today, there are numerous major appliance companies that are offering smart fridges. For example, GE offers an app that lets people know when the door is open, when the water filter has to be replaced, or when the ice maker is empty. LG offers a smart fridge that allows people to order groceries and turn on music. Samsung also has a Family Hub fridge that allows people to look up recipes and write notes before sending them to someone’s phone. Homeowners can also use this feature to create a new shopping list. All of this has the potential to change the way homeowners interact with their refrigerators moving forward. There are a lot of local stores that carry the latest in smart refrigerators, which could make a major difference when it comes to the daily routine in the kitchen.

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Popcorn Ceilings and the Trend to Remove Them

Posted in Real Estate Tips by Michigan Real Estate Expert on September 21st, 2021

Popcorn Ceilings and the Trend to Remove ThemDuring the 1970s, home building picked up on the idea of a cheap but effective way to reduce sound travel from one floor to the next: popcorn ceilings. Essentially, after the drywall was installed, a finisher would come in with a plaster mix and spray on the ceiling drywall for a bit of a lumpy effect. The disparate clumps and bumps not only created a texture to an otherwise flat-looking ceiling, they also helped break up sound waves. After being spray-painted in white, the ceiling texture essentially blended with the rest of the room to produce a finished look. Popcorn ceilings were such a common approach, entire home subdivisions had cookie-cutter ceiling work done by teams on new homes.

A Bad Memory From the Past

Today, popcorn ceilings are like sheet vinyl on flooring, relics of the 1970s decade and almost a trigger for a negative gut reaction from anyone who lived in that time period, particularly as a kid. Worse, prior to 1978, some of the material used to create the popcorn ceiling also included asbestos under the idea that it would improve safety and increase fire resistance ( disregarding the fact that asbestos is extremely hazardous to breathe once airborne).

Leverage for a Buyer, Vulnerability for a Seller

No surprise, anyone in modern times coming into a used home as a new buyer and owner will likely want to have the popcorn ceiling texture completely removed and redone. In some cases, during a buyer’s market, some prospects will actually want the seller to pay for the work to sell the home quickly.

Sellers should expect, at a minimum, that the issue will be used to argue for a lower price, at least in a normal market or where there is competition to secure a buyer. Only during a seller’s market will the presence of the popcorn ceiling pretty much be a non-issue for a quick sale.

While it might seem tempting to just have the owner scrape the ceilings and repaint them, it’s best to have a professional take care of the removal in a clean process. Especially if the home is older than 1978, the work could be hazardous and require specific steps for proper mitigation.

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A Complete Guide: What Is A Credit Freeze And Why Is This Helpful?

Posted in Credit Scoring by Michigan Real Estate Expert on September 8th, 2021

A Complete Guide: What Is A Credit Freeze And Why Is This Helpful?Due to recent changes in federal regulations, consumers are now allowed to freeze their credit free of charge. Prior to changes in these regulations, credit bureaus would charge consumers for freezing their credit. What does this mean, and why might someone want to do this?

Freezing Credit Restricts Access To Confidential Information

There are certain situations where consumers may need to have access to their credit reports. For example, they may be applying for a home loan or a car loan. There are other situations where consumers may not need access to their credit reports for an extended amount of time. In this case, it is possible to freeze the credit report to restrict all access. This makes it harder for hackers to access confidential credit information, preventing them from opening an account in someone else’s name.

Who Can Freeze Their Credit Reports?

All consumers have the ability to freeze their credit reports. Even some children may have a credit history, so it is possible for parents to freeze the profile of a child for a certain amount of time. This prevents hackers from stealing credit information regarding children as well. 

How Can Consumers Freeze Their Credit Reports?

It is relatively easy to conduct a credit freeze at any of the three major credit bureaus including Equifax, Experian, and Trans Union. All consumers need to do is request a credit freeze via a phone call,  letter, or an online request. The bureau has to comply, freezing someone’s credit report within one business day. Furthermore, consumers should be able to access free fraud alert services as well. That way, individuals will automatically be alerted if someone tries to open an account in their name. 

What Happens When Applying For A Loan?

If applying for a loan, consumers need to unfreeze their credit reports. Therefore, they should file a request with all three major credit bureaus. They will have to comply within one hour. Then, after the lender has the information he or she requires, consumers can simply request a credit freeze again. That way, they limit the opportunities of hackers who might be trying to steal confidential information and commit identity theft. 

 

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