Living in South FloridaRecently posted or modified blog posts in the category - Selling Your Homehttps://www.thehaighgroup.com/blog/Copyright TheHaighGroup.com2023-02-13T07:59:11-07:00tag:thehaighgroup.com,2012-09-20:242322 Tips to Help You RelocateHere are two helpful tips to make sure your move goes smoothly.
Looking to buy a home? <a href="https://www.thehaighgroup.com/property-search/search-form/" target="_blank" aria-label="Search All Homes For Sale - opens in new tab">Search All Homes For Sale<br /></a>Looking to sell a home? <a href="https://www.thehaighgroup.com/sellers/free-market-analysis/" target="_blank" aria-label="Get a Free Market Analysis - opens in new tab">Get a Free Market Analysis</a>
So you’ve decided to relocate. It’s an exciting process, but there are a couple of things you need to keep in mind to make sure everything goes smoothly. Let’s talk about them:
1. Make sure things are set with your job. If you shake things up with your career, it could jeopardize your mortgage. For example, don’t retire while in the process of relocating. If you want to move while maintaining your mortgage rates, you must have a written note from your employer’s HR department that confirms you can work from home. You can also prove to your lender that you are making a lateral career move when you relocate. A good example of this is a nurse moving to a new hospital.
“
Local lenders tend to work better and faster than the big banks.
”
2. Try not to work with a big bank. If you plan on working with a bank like Wells Fargo, Chase, or Bank of America, I recommend you reconsider. As a listing agent, I know that these big banks tend to have poor customer service, poor communication, and bad timing. Every listing agent has had a closing period take forever because a big bank is lagging behind. Local lenders tend to work better and faster, so consider asking around for a trusted lender when you move.
Hopefully, these tips will help your move go smoothly. If you have any questions about today’s topic or anything else, please call or email me. I am always willing to help.
2021-10-15T07:13:00-07:002021-10-15T08:18:04-07:00Alexander Haightag:thehaighgroup.com,2012-09-20:22464Should You Sell to an iBuyer?Here’s what you should know about iBuyers and how they operate.
Looking to buy a home? <a href="https://www.thehaighgroup.com/property-search/search-form/" target="_blank" aria-label="Search All Homes For Sale - opens in new tab">Search All Homes For Sale<br /></a>Looking to sell a home? <a href="https://www.thehaighgroup.com/sellers/free-market-analysis/" target="_blank" aria-label="Get a Free Market Analysis - opens in new tab">Get a Free Market Analysis</a>
Today’s topic is iBuyers. What are they? How do they work? Should you sell to one? You might not be aware of the term, but I’m sure you’ve come across an iBuyer or two.
An iBuyer is someone who comes to you trying to buy your home, usually in cash. They will then turn around and resell your home. You’ve probably seen signs that say “We’ll buy your house” or got a postcard in the mail with the same message. That’s an iBuyer.
The biggest iBuyer program out there is Zillow Offers. They use their platform to put up ads and work with hedge funds to buy homes.
iBuyers are looking for homes with built-in equity, so if you work with one of these people, there are both benefits and drawbacks. If you need a quick, easy cash sale, selling to an iBuyer may be the right move for you. However, it’s important to understand that you’re not going to sell your home to an iBuyer for full price.
“
If you have the cash to become an iBuyer yourself, go for it!
”
Do you want to buy a home as an iBuyer? If you have the cash to buy the home directly, go with it. If you know the title is clean and there are no serious issues, it could end up being a bargain. However, I suggest working with a real estate agent to ensure you don’t fall into any pitfalls during the process.
If you know what you’re getting yourself into and you’re selling because you want an easy, clean transaction, an iBuyer can work for you. Just know that you’re probably going to leave a lot of money on the table.
If you have questions for me about iBuyers or anything else related to real estate, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.2021-07-15T12:19:00-07:002021-07-16T07:38:53-07:00Alexander Haightag:thehaighgroup.com,2012-09-20:181944 Misconceptions Sellers Shouldn’t Buy Into Don’t believe these four misconceptions about our seller’s market.
Looking to buy a home? <a href="https://www.thehaighgroup.com/property-search/search-form/" target="_blank" aria-label="Search All Homes For Sale - opens in new tab">Search All Homes For Sale<br /></a>Looking to sell a home? <a href="https://www.thehaighgroup.com/sellers/free-market-analysis/" target="_blank" aria-label="Get a Free Market Analysis - opens in new tab">Get a Free Market Analysis</a>
If you’ve been following my video blog, you'll know by now that we’re in one of the best seller’s markets that have ever existed. This obviously means sellers are in the driver’s seat, but there are four common misconceptions some sellers still believe that can negatively affect you if you believe them.
1. You should be more concerned about where to move to next. I know this sounds like belittling something that’s a really big deal, but sellers can dictate sale terms right now. I’m not saying you shouldn’t have an idea of where you’ll move to after selling, but you don’t need to find a specific house to buy because that house will be gone by the time your sale is complete. Instead, look at what your options are as far as buyers coming in. For example, if you need more time to find your next home, you can ask for a longer closing period or a shorter closing period with a leaseback agreement. The leaseback agreement doesn’t even have to cost you money (outside of the cost of legitimizing the agreement).<br /><br />
“
Not only do you need a Realtor to help you navigate a multiple-offer situation, but you also need them as an advocate throughout the rest of the home-selling process.
”
<br />2. The condition of the home doesn’t matter. The condition of your home is actually very important. Some sellers think they can list their homes in any condition. While you can do this, the home’s photos and video won’t be as good. Therefore, you won’t get as much buyer traffic. Without that extra traffic, your offers won’t be as high price-wise and won’t include the same favorable terms. So have your home in good condition before listing it—it has to smell good, look good, have clean surface areas, etc.
3. Price doesn’t matter. Just like with No. 2 in this list, price is actually very important. We have incredibly low inventory right now, and I’ve seen some astounding things as far as homes selling above what I thought they would. That said, I’ve also seen properties sit on the market, even vacant properties that were in good condition and priced remotely correctly. If you price your home too high, it will drive buyers away. If you price it properly, it’ll probably sell above your asking price anyway.
4. You don’t need a Realtor. I beg to differ on a number of levels regarding this misconception. You need a Realtor to sift through your offers, call the other agents, talk to the mortgage brokers, and find out who really wants to buy your house and who’s just playing around. Not only do you need a Realtor to help you navigate a multiple-offer situation, but you also need them as an advocate throughout the rest of the home-selling process.
As always, if you have questions about this or any real estate topic or are thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’m happy to help.2021-04-26T13:34:00-07:002021-04-28T08:21:32-07:00Candice Fontainetag:thehaighgroup.com,2012-09-20:17756Where Are All These Buyers Coming From?Our market is flooded with buyers—here’s where they’re coming from.
Looking to buy a home? <a href="https://www.thehaighgroup.com/property-search/search-form/" target="_blank" aria-label="Search All Homes For Sale - opens in new tab">Search All Homes For Sale<br /></a>Looking to sell a home? <a href="https://www.thehaighgroup.com/sellers/free-market-analysis/" target="_blank" aria-label="Get a Free Market Analysis - opens in new tab">Get a Free Market Analysis</a>
We are in an incredible seller’s market right now—inventory is historically low, properties are selling within days of being listed, and we have twice the typical number of buyers in the market. So where are those buyers coming from? It’s not from Canada, as they’re still on lockdown and people aren’t crossing the border.
We typically get a lot of buyers coming from the Northeast—New York, New Jersey, Pennsylvania, etc. Considering where they come from, it’s not hard to see why this is such an attractive area for them. For one, ours is a homestead state, meaning our property taxes can only increase by 3% each year. There’s also no income tax in this state, so those in the northeast who are retiring are moving here to avoid it.
“
Once we make more progress with the vaccine and the Canadian border opens up, we can expect an influx of buyers from there.
”
We also get buyers coming in from South Florida, including places like Broward, Palm Beach, and Dade Counties. They’re looking to take advantage of our great schools and hospitals, low traffic, and much more affordable price points.
A third source of buyers in the Treasure Coast is California. California has a high state income tax, and the cost of living there is relatively high; lately, property values there are through the roof. The median price to buy a small, single-family home in the greater California area is $600,000!
If you have any questions about the market or real estate in general, don’t hesitate to reach out to me. I’d love to help.2021-03-30T09:07:00-07:002021-03-31T11:09:01-07:00Candice Fontainetag:thehaighgroup.com,2012-09-20:17132When Your Property Doesn’t Appraise…What happens if your property doesn’t appraise?
Looking to buy a home? <a href="https://www.thehaighgroup.com/" target="_blank" aria-label="Search All Homes For Sale - opens in new tab">Search All Homes For Sale<br /></a>Looking to sell a home? <a href="https://www.thehaighgroup.com/sellers/free-market-analysis/" target="_blank" aria-label="Get a Free Market Analysis - opens in new tab">Get a Free Market Analysis</a>
Right now, we’re in an incredible market where home prices are being driven up and sellers are in the driver’s seat. That said, many buyers still need a mortgage to get a property, and mortgages entail an appraisal. Sometimes buyers can waive an appraisal contingency, but more often they want to ensure that they’re not overpaying for the home.
As a seller, when an offer comes in on your home, first find out if the buyer is willing to do a non-appraisal contingency. If they are, then you won’t have to worry as much. However, supposing the buyer isn’t willing to do a non-appraisal contingency because you’re priced at the higher end of the market, what are your options?
“
You need to have a great agent who will help you negotiate with the buyer’s agent.
”
<br />Imagine you priced your property at $500,000 and the appraisal came in at $480,000, meaning that the bank wouldn’t lend any more than that for a mortgage. If it’s a conventional mortgage, the buyer can actually bring more money to the table if they’re willing and able. This is also why you need to have a great agent who will help you have a discussion with the buyer’s agent to see if they’d be willing to do a non-appraisal contingency. If they’re not, ask if they have the money to bring so that both parties could meet in the middle.
Another option is to do a second mortgage and provide owner financing back to the buyer. That’s not necessarily ideal for homeowners, but it is an option. There aren’t many agents out there who know how to do that, so if that’s a route you’re thinking about, make sure you find someone who knows what they’re doing.
If you have further questions about low appraisals or any other real estate topic, call or email us. We would love to help you.2021-02-16T10:31:00-07:002021-02-17T11:19:44-07:00Candice Fontainetag:thehaighgroup.com,2012-09-20:14097Q: Which Home Upgrades Should You Avoid?
If you want to add value to your home, avoid these three upgrades. <br />
Looking to buy a home? <a href="https://www.thehaighgroup.com/" target="_blank">Search All Homes For Sale<br /></a>Looking to sell a home? <a href="https://www.thehaighgroup.com/sellers/free-market-analysis/" target="_blank">Get a Free Market Analysis</a>
Many people want to increase the value of their homes before they sell. However, some of the most common things people think will add value actually do not. These are the main three home upgrades to avoid if you want to add value to your property:
1. Pools. If you want a pool for your family to enjoy, then by all means build one. However, you need to know that a pool will not add value to your home when it’s time to sell. Nevertheless, you will get some money back from this investment. For example, if you spend $30,000 to add a pool to your property, you would get about $15,000 back when you sell.
“
If you want to install something to protect your house, I suggest aluminum shutters.
”
2. Solar panels. These will lower the energy costs of whoever lives in the home, and some people feel they’re necessary to save the planet. If you live in the house for 15 years or more, solar panels will pay for themselves due to the extra energy savings. So solar panels could raise the value of your property to the buyer if they feel they’re important, but they still won’t add inherent value to your home.
3. Shutters, hurricane shutters, impact glass. If you want to install something to protect your house, I suggest aluminum shutters, which also lower your premium. You’ll likely get your money back for those. These other types of protection do guard your home but are more costly, and you won’t get all your money back. For example, for a 2,000-square-foot house, installing impact glass would be around $30,000, and you won’t see that returned when you sell.
We’re here to provide value to you; we’re always here to help with your real estate needs. Reach out to us via phone or email if you have any questions about these upgrades or real estate in general. We would be happy to assist you.2020-07-21T12:19:00-07:002020-07-22T14:39:37-07:00Alexander Haightag:thehaighgroup.com,2012-09-20:10711Why You Should Consider Selling in the Winter<img src="https://assets.site-static.com/userfiles/2089/image/selling-in-the-winter-attracts-serious-buyers.jpg" alt="Selling In Winter Attracts Serious Buyers" title="Selling In Winter Attracts Serious Buyers" height="410" width="750" />
The season you sell your home can have an impact on how much you get for your home and how quickly it sells. The season that has the most success in selling homes is spring. This is a good time of year for families moving to new school districts and is also more convenient weather for moving. Because of this trend, most people will recommend waiting to list your home until after the winter is over. Avoiding the winter is a huge misconception in the housing industry and can cause homeowners to miss out on opportunities.
Selling in the winter can give you a few advantages. There will be fewer houses on the market since most people assume winter is a bad time to sell. This gives your home more attention. Potential buyers are always looking no matter the time of year. Keeping your house on the market in the winter might bring the right buyer to your door. Real estate agents also tend to be less busy during these months and commit more time to getting your home sold.
Studies have shown winter buyers are buying because they need to move right away either for a relocation or personal situation. They will want to close quickly and allow for a much smoother sale.
Bottom Line
If you need to sell your home right away, or have some time but want to see what is out there, consider listing in the winter. Most homeowners who are going to sell will list their home in the spring, making for a competitive market. The winter allows buyers who are in a hurry to move consider your home and sell for more money than you would have in the spring.2020-05-04T15:38:00-07:002020-05-04T15:39:35-07:00Candice Fontainetag:thehaighgroup.com,2012-09-20:10848So the Home Didn't Appraise - What Happens Now?
What if a property doesn’t appraise?
There are a few ways a transaction can unfold following this event, and how it impacts you depends on whether you’re a buyer or a seller and what your circumstances are. <br />
If you’re a buyer paying cash for the home, you probably don’t want to add an appraisal contingency because you’re already in a strong position to pay less than its market value and receive favorable terms from the seller. If you’re a seller in this situation, you’re probably OK with accepting a cash offer without an appraisal contingency because you’ll have a good idea of what your property is worth and you’ll be able to take advantage of other benefits this offer provides.
“Whether you’re a buyer or a seller, you want to work with an
Agent who understands both sides of the transaction.”
Let’s say you’re a buyer using financing to buy a $200,000 property, but you still have enough money down to make up the difference when the home doesn’t appraise. In that case, if you didn’t add an appraisal contingency in your offer, you can’t rely on being able to make up the difference to receive your loan. That’s why it’s always important to add an appraisal contingency in this situation. If you’re the seller here, you’d probably rather not see an appraisal contingency because that’s just one more hoop you have to jump through to sell your property.
A few months ago, I was representing a seller whose buyer was using a VA loan, which requires 0% down, but he still ended up putting 35% down. However, the appraisal came in at about $40,000 less than the list price. Since there was no appraisal contingency, the buyer was obligated to either close on the home or lose the money.
In my opinion, the buyer in this example didn’t have the best representation, so whether you’re a buyer or a seller, you want to work with an agent who understands both sides of the transaction. That’s what a good agent does.
If you have any questions about this or any other real estate topic or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d love to help you.2019-08-29T11:06:00-07:002020-05-20T11:07:36-07:00Alexander Haightag:thehaighgroup.com,2012-09-20:108525 Projects That Will Add Value to Your Home (Plus 1 That Won't)
1. Get your house professionally cleaned. Many of us live busy lives, and we don’t all have the time to get really detailed with cleaning, so it’s often worth the $200 to $500 cost to hire a professional to come clean your home. Buyers don’t want to see a house as a list of projects they’ll have to take on, so do this before listing to entice the best offers.
2. Declutter the house. This is a very simple task that you can do at a low cost to give your home more saleability. Remove all the extra stuff you don’t need or use from your counters, floors, drawers, and any other place that tends to become a catch-all for sundry possessions.
3. Have the living room professionally painted. Depending on your budget, it’s a good idea to have a professional service come to fix the bumps, nicks, and holes in your walls and then repaint it. It’ll give your space a fresh appeal to buyers. Be sure to go with a color that is palatable to most people’s eyes; neutral colors fare better in home sales than the personalized colors that you enjoy. If you’d like ideas for popular palettes, reach out to us.
4. Put in a new kitchen. If you have $10,000 to $20,000 to spare, a renovated kitchen can take you far in your home sale.
5. Replace your carpet with tiles. Especially in Florida, carpet is kind of out of style. It’s fine in bedrooms, but for other areas, like the living room, many buyers like hardwood floors or tile; there’s now a kind of tile that looks like scraped wood. Carpets tend to trap dust and other soilage, making them hard to clean and remove odors.
6. Avoid putting in a swimming pool. Installing a pool in your home is not likely going to raise the value of your home. In fact, you’ll probably spend tens of thousands of dollars putting it in, but you’ll only get maybe half that back when you sell the home. Of course, you can always install a pool if that’s something that you and your family would love, but don’t do it if you’re trying to add value to your home.
“Installing a pool in your home is not likely going to raise the value of your home.”
If you have any questions about selling your home or would like referrals for contractors who can take care of these value-boosting projects, you are always invited to reach out to us. We’re here to help you.2019-05-31T11:17:00-07:002020-05-20T11:20:35-07:00Alexander Haightag:thehaighgroup.com,2012-09-20:10929Why a Listing Company Isn't What Matters Most to the Consumer
What matters most to a consumer is actually the agent—the person who is helping you price your property, take photos, and shoot videos with drones.
When I meet someone at a listing appointment, I like to ask if they remember what company listed the house when they bought it. Most of the time they are unable. Instead, they say they chose the house based on the school district it was in, the price range, or its square footage.
Beyond these factors, buyers also say tend to cite the listing photos they saw during their search as a catalyst for their purchase. This means that it was the marketing that affected them most. Pricing is 80% of marketing. If you have an overpriced listing, no matter how many showings you do, mailers you send, and nice photos you have, the place won’t sell.
With this in mind, it’s important to realize that the agent you work with also plays a vital role. They are there to explain the process and guide you toward the best possible decisions. When working with buyers, they help them find a property that fits their budget and search criteria. For sellers, agents provide helpful insight into the market. They also study comparable properties to help the seller effectively price their own home. Listing companies don’t do these things — the agent does.
When you list your property, regardless of the size of the company, it is added to the MLS and then syndicated out to Zillow, Trulia, Realtor.com, etc. These websites don’t recognize the company that it is listed with. They recognize that it fits within a certain price range, fits within a certain square footage, and has a particular number of bedrooms and bathrooms. The consumers then look at those advertising sites to see everything, regardless of the company.
When you interview agents, know that while there are great agents working for big companies like RE/MAX and Keller Williams, there are also great agents based out of brokerages you might not have heard of. The same goes for bad agents. Don’t interview agents based on their company. Interview them based on their personal experience. Do they explain the market analysis to you? Do they have great photos? Are they a member of the MLS? How many properties have they sold? These things are the more pertinent questions.
Now, why did I move to eXp? As a business owner, this company of 13,000 agents has a better business model for me and my family. Ultimately, eXp is an agent-owned company as opposed to a franchise or a mom-and-pop company. They are like the Uber of real estate in the sense that they are disrupting the norm.
This company has a great disruptive business model and since I’ve always liked to be on the cutting edge of what’s new, I joined them. In the end, I think that it’s better in a lot of ways for the consumer because of their emphasis on technology and my ability to put more of my own money back into my business.
If you have any questions about this or are interested in buying or selling, please feel free to contact me. I look forward to speaking with you soon.2018-10-02T11:26:00-07:002023-02-13T07:59:11-07:00Alexander Haigh