Quick word from Bettina,

(I could not resist to put my two cents in)

OK...we all hear the new of what is happening. The Stock market is making extreme jumps and we are right before an election. Every time I turn on the telly I only hear negative news and not much advice on what can be done.

Most of the time I don't even turn on the telly, it has become to depressing. Working in partnership with a large Nationwide Loss mitigation company I now even see how any Real estate Agents are just giving up.

Well, I am not. I am here to stay and here are some quick Ideas on what to do when you do have to sell you home in a touch market.

Bettina Settles

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How do I price my home?

Bettina Settles 10/15/2008

Q: I’m about to put my home on the market. What factors should I consider when determining how much to list it for?

A: The ten main factors that influence the value of your home are:

1. Interest rates: The lower the interest rates, the more buyers can afford to pay.

2. Supply and demand: Are ’for sale’ signs springing up all around the neighborhood? If there are a number of homes similar to yours on the market, consider them your competition. What can you do to set your home apart and make it desirable for a majority of potential buyers? On the other hand, a small number for sale can result in competing bids that send prices up.

3. Economy: Is the economy improving or sliding? This will affect buyers’ confidence in their ability to manage debt.

4. Location: Are you in a desirable neighborhood, with key services such as schools, doctors, and shopping nearby? Are there factors that make your neighborhood less desirable, such as environmental issues or traffic problems?

5. Condition: Have you updated features and kept up with repairs? Is the house clean? Does your house make a good first impression? (This is called "curb appeal.") How much can you reasonably do to fix it up for sale?

6. Timing: Do you need to sell quickly or can you choose your time?

7. Size: Will your home appeal to a growing family or to those who are downsizing?

8. Amenities: Does it include features that are popular, such as low-maintenance landscaping or granite counter tops?

9. Terms: How flexible are you with respect to the sale? What’s excluded? If you are downsizing and have substantial equity, have you considered offering financing? Carrying financing can make your home very appealing and help you sell for the maximum price.

10. Attitude: How committed are you to selling now?

To determine your home’s value:

• Research the housing market in your area. Browse the Internet, local newspaper ads and free ’For Sale’ publications. Visit open houses in your neighborhood to get a general idea of the current market.
• Get a comparative market analysis (CMA) from a REALTOR®. A CMA compares homes that are currently available and those that have sold in your neighborhood in the past year. The more similar the features -- square footage, number of rooms, lot size, etc. -- and the more recent the data, the more accurately it reflects the current market. Don’t confuse listing price with sold price -- the most important factor in the CMA. REALTORs® usually do CMAs for home sellers at no charge.
• Have your home appraised. An appraisal estimates your home’s market value. A lender will require an appraisal to finance a prospective buyer. For residential properties, a professional appraiser will either compare your home to similar properties that have sold in the area or, for new properties, estimate how much it would cost to replace the existing structure if it were destroyed.

To maximize your home’s value:

• Eliminate clutter and clean. The more you can clean your home and keep it tidy, the easier it will be to show, and the more buyers who will see it at its best.
• Paint and repair. First impressions count. Improve the appearance of your home with a coat of fresh paint. Take the time to fix any dripping taps, broken tiles or cracked widow panes.
• Consider hiring a home stager. A professional home stager can help you enhance the selling potential of your home by showing you how to arrange your home to appeal to buyers. Whether it’s rearranging furniture, minimizing belongings, lending you accessories or renting furniture, they work with you to show off your home’s best features. Many will also coordinate hiring professionals to do cleaning, painting and minor repairs.

What’s the right price?

Generally, aim for your list price to be within 2.5 to 5 percent of what you expect the selling price to be. Pricing strategies vary with the market. If it’s sluggish, price lower. If it’s active, price close to your expected selling price to stimulate competing offers.

Remember, your home is easiest to sell when it’s first listed. During the first couple of weeks, you’ll get a flurry of interest on the part of agents eager to preview it for their clients. If you price it too high and they can’t sell it, your home may linger on the market and become old news. Prospective buyers may think you’re becoming desperate and lower their offers. As a result, you could end up having to accept less than you normally would have received.

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Newsletter Archive

2nd quarter 2008

1st quarter 2008

4th quarter 2007

3rd quarter 2007

Easy no cost seller ideas to sell you home when you are in trouble.

Bettina Settles 10/15/2008

Money is tight and you are faced with having to sell you home but you do not have any money to fix or repair the home? Home then will have to be sold AS-IS. 

Here are several things you can do to give your home the best chance to sell quickly even if it needs repairs. 

Think of what you can do and not what you can’t do…… 

None of them cost you any money they maybe make you some money! (OK one maybe will but only if you have no other option) 

1. In the sellers disclosure identify what needs to be repaired. Better to disclose then to hope they will not see.
2. Start clearing out and start selling stuff you do not need, look in every nock and corner.
3. Take down all your personal pictures and notes from the walls, desks, tables and refrigerators. Buyers are not interested who is in the house they want to know about the house.
4. Vacuum all the carpets all over the house, under the bed under the couch and chairs.
5. Deep clean all of the bathrooms, and the Kitchen. Do not forget behind the stove and under the refrigerator. People will pull the shower curtain to see how clean the shower is.
6. Take a damp sponge and clean off all the finger smudges of the walls by the light switches and other places you can find. Don’t scrub hard be very gentle.
7. Clean out overstuffed closets and if you can put the excess in to storage or sell it.
8. Organize your kitchen. Get rid of the junk drawer (we all have one)
9. Clean off the kitchen counter top. You keep it filled you tell buyer that you do not have enough room to put your stuff away or the other message you might give them………………………ell it will take me months to move out!...................... …………………………….I have to much stuff to move!!.....................................
10. Clean out the garage and when you have to sell some of the stuff you have do it!! Otherwise put it in to storage. Do not use the garage as storage unless you are planning on telling the buyers that the house is too small and has not enough storage.
11. Clean up the yard!!!
12. Mow the yard and keep it trimmed!!!
13. Ask friends or family members if they maybe have some plants you could plant in your yard when you have none.
14. Clean your windows and open the curtains to let light in!!!

All this stuff unless you need to put stuff in to storage will cost you no extra money you would not spend anyway. All what this will cost you is your time and effort to get it done.

The fast you can sell your home the faster you can get back on track and the faster you might be able to get in to a new home, the longer it takes the larger will the shortfall be. In this case time is money!!!!

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Selling a Home is a Team Sport.

Bettina Settles March 24th 2008

……and you the seller have a very important part.  

Houses can only sell when the selling Team works together and you are as the seller you are part of the team. Nothing new but now let me explain you what I mean with this.

 Your part is to make sure that your home put’s its best foot forward. Without this very vital contribution to the Team the rest of the Team will not have it easy to do their part.

 The Marketing part of the selling is done the time right after you are signing the Listing contract and most of the REALTORS® will advertise the house online and with fliers that are available in the flier box right in front of the house.

 One of the seller’s parts of the Teamwork is to de-clutter the house and to put their personal possessions away during showings.

 Now the Buyer who has read the web advertising and has looked at the pictures of the home that has been posted online and reads the property remark:” Roomy home, with ample storage” goes through the house and now finds the kitchen full with clutter and stuff and the toothbrush dirty in the sink or dirty laundry on the floor.

 I know this is a drastic example but this is to show how important is a seller in part of the selling team.

 The REALTOR® is there to help as a coach to get the team to the finish line and to the goal and everybody is a vital part of the team.

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Bettina Settles Realty LLC

Office Phone: 317-508-0627,

Fax: 317-883-0830

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Website: www.BettinaSettlesRealty.com

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