Tip Tuesday: Preparing Your Home for Sale – Neutralizing

The next topic in our “Tip Tuesday” series of posts on Preparing Your Home for Sale is NEUTRALIZING:

  1. Be cautious about selecting colors when painting or replacing carpeting. Your objective here is to make your home appeal to the largest possible buying segment. Ask yourself, “How many of the available buyers would be able to move into your house and have their furniture fit in and not have to replace the carpeting or repaint the walls?” Position your home on the market to be as livable as possible to as many people as possible, and allow the buyer to mentally picture the home as theirs.
  2. Forget your personal taste…the “market” is always demand driven. The average buyer will have a hard time looking beyond blue carpeting and bold wallpaper. Consider replacing unusual or bold colors with neutral tones. Two coats of white paint may be the best investment you ever made!

Remember, these weekly posts will guide you through the process of preparing your home for sale in order to achieve the highest possible sales price in the least amount of time. We will concentrate on areas like: (1) Repairing, (2) Cleaning, (3) Neutralizing, (4) Space Management, (5) Atmosphere and (6) Staging.

So look for more home selling tips on Tuesdays and if you are thinking of selling your home this year, please reach out to The Belt Team and let our 50+ years of experience in real estate work for you!

703-242-3975 | Info@TheBeltTeam.com | Contact Us

Be sure to follow our blog, as well as our pages on Facebook & Instagram and our YouTube channel, to get our updates on the real estate market, community happenings and much more!

Tip Tuesday: Preparing Your Home for Sale – Cleaning

The next topic in our “Tip Tuesday” series of posts on Preparing Your Home for Sale is CLEANING:

  1. Make sure every area of the home sparkles and shines! Every hour spent will be worth it. Would you rather buy a clean car or a dirty one? Would you hurry to buy a pair of shoes with mud on them?
  2. Clean all windows inside and out. This helps make the house sparkle.
  3. Clean all carpeting and area rugs…along with tile and wooden floors.
  4. Clean and polish all woodwork. Pay particular attention to the kitchen and bath cabinets.
  5. Make sure all light fixtures are clean and shining!

Remember, these weekly posts will guide you through the process of preparing your home for sale in order to achieve the highest possible sales price in the least amount of time. We will concentrate on areas like: (1) Repairing, (2) Cleaning, (3) Neutralizing, (4) Space Management, (5) Atmosphere and (6) Staging.

So look for more home selling tips on Tuesdays and if you are thinking of selling your home this year, please reach out to The Belt Team and let our 50+ years of experience in real estate work for you!

703-242-3975 | Info@TheBeltTeam.com | Contact Us

Be sure to follow our blog, as well as our pages on Facebook & Instagram and our YouTube channel, to get our updates on the real estate market, community happenings and much more!

Tip Tuesday: Preparing Your Home for Sale – Repairs

Thinking of selling your home but aren’t sure how to get it ready? Well…we’re here to help! This is the first in a series of “Tip Tuesday” posts about Preparing Your Home for Sale.

These posts will guide you through the process of preparing your home for sale in order to achieve the highest possible sales price in the least amount of time. We will concentrate on areas like: (1) Repairing, (2) Cleaning, (3) Neutralizing, (4) Space Management, (5) Atmosphere and (6) Staging.

Today’s topic is REPAIRS:

  1. The rule of thumb is, if something is in need of repair, fix it! There are probably many small things in your home that you have simply become used to over time…things that you have been promising yourself that you would attend to. Well, now is the time. The buyer will mentally add up the cost of repairing all those minor flaws and end up with an amount that is generally much higher than what it would cost you to do the repairs. And if there are too many items, even if they are not costly, the buyer may choose to buy another home. Many buyers do not have the time or “know-how” to make simple repairs. And because our marketplace is so competitive, they have come to expect a near-perfect property.
  2. Repaint.  If paint is in good condition, check for peeling.  Remove dated wall paper if not in style.
  3. Large repairs: In today’s climate of open disclosure & professional home inspections, the rule is “Treat a buyer better than you would treat yourself.” Repair any problems with major systems. It is to your benefit to address these kinds of issues up front rather than to have to re-negotiate.

So look for more home selling tip on Tuesdays and if you are thinking of selling your home this year, please reach out to The Belt Team and let our 50+ years of experience in real estate work for you!

703-242-3975 | Info@TheBeltTeam.com | Contact Us

Be sure to follow our blog, as well as our pages on Facebook & Instagram and our YouTube channel, to get our updates on the real estate market, community happenings and much more!

Why Waiting To Sell Your House Could Cost You a Small Fortune

Many homeowners who plan to sell in 2022 may think the wise thing to do is to wait for the spring buying market since historically about 40 percent of home sales occur between April and July. However, this year’s expected to be much different than the norm. Here are five reasons to list your house now rather than waiting until the spring.

1. Buyers Are Looking Right Now, and They’re Ready To Purchase

The ShowingTime Showing Index reports data from more than six million property showings scheduled across the country each month. In other words, it’s a gauge of how many buyers are out looking at homes at the current time.

The latest index, which covers November showings, reveals that buyers are still very active in the market. Comparing this November’s numbers to previous years, this graph shows that the index is higher than last year and much higher than the three years prior to the pandemic. Clearly, there’s an influx of buyers searching for your home.

Why Waiting To Sell Your House Could Cost You a Small Fortune | MyKCM

Also, at this time of year, only those purchasers who are serious about buying a home will be in the market. You and your loved ones won’t be inconvenienced by casual searchers. Freddie Mac addresses this in a recent blog:

“The buyers who are willing to house hunt in a winter market, when there are fewer options, are typically more serious. Plus, year-end bonuses and overtime payouts give people more purchasing power.”

And that theory is proving to be true right now based on the number of buyers who have put a home under contract to purchase. The National Association of Realtors (NAR) publishes a monthly Pending Home Sales Index which measures housing contract activity. It’s based on signed real estate contracts for existing single-family homes, condos, and co-ops. The latest index shows:

“…housing demand continues to be high. . . . Homes placed on the market for sale go from ‘listed status’ to ‘under contract’ in approximately 18 days.”

Comparing the index to previous Novembers, while it’s slightly below November 2020 (when sales were pushed to later in the year because of the pandemic), it’s well above the previous three years.

Why Waiting To Sell Your House Could Cost You a Small Fortune | MyKCM

The takeaway for you: There are purchasers in the market, and they’re ready and willing to buy.

2. Other Sellers Plan To List Earlier This Year

The law of supply and demand tells us that if you want the best price possible and to negotiate your ideal contract terms, put your house on the market when there’s strong demand and less competition.

recent study by realtor.com reveals that, unlike in previous years, sellers plan to list their homes this winter instead of waiting until spring or summer. The study shows that 65% of sellers who plan to sell in 2022 have either already listed their home (19%) or are planning to put it on the market this winter.

Again, if you’re looking for the best price and the ability to best negotiate the other terms of the sale of your house, listing before this competition hits the market makes sense.

3. Newly Constructed Homes Will Be Your Competition in the Spring

In 2020, there were over 979,000 new single-family housing units authorized by building permits. Many of those homes have yet to be built because of labor shortages and supply chain bottlenecks brought on by the pandemic. They will, however, be completed in 2022. That will create additional competition when you sell your house. Beating these newly constructed homes to the market is something you should consider to ensure your house gets as much attention from interested buyers as possible.

4. There Will Never Be a Better Time To Move-Up

If you’re moving into a larger, more expensive home, consider doing it now. Prices are projected to appreciate by approximately 5% over the next 12 months. That means it will cost you more (both in down payment and mortgage payment) if you wait. You can also lock in your 30-year housing expense with a mortgage rate in the low 3’s right now. If you’re thinking of selling in 2022, you may want to do it now instead of waiting, as mortgage rates are forecast to rise throughout the year.

5. It May Be Time for You To Make a Change

Consider why you’re thinking of selling in the first place and determine whether it’s worth waiting. Is waiting more important than being closer to your loved ones now? Is waiting more important than your health? Is waiting more important than having the space you truly need?

Only you know the answers to those questions. Take time to think about your goals and priorities as we move into 2022 and consider what’s most important to act on now.

Bottom Line

If you’ve been debating whether or not to sell your house and are curious about market conditions in your area, let’s connect so you have expert advice on the best time to put your house on the market.

Contact The Belt Team at 703-242-3975 | Info@TheBeltTeam.com | Contact Us

4 Tips To Prep for Your Home Sale This Fall

4 Tips To Prep for Your Home Sale This Fall | MyKCM

Even in a hot sellers’ market like today’s in which homes are selling so quickly, it’s still important to make a good first impression on potential buyers. Taking the time upfront to prep your house appropriately can bring in the greatest return on your investment.

Here are four simple tips to make sure you maximize the sale of your house this fall.

1. Price It Right

One of the first things buyers will notice is the price of your house. That’s why it’s important to price it right. Your goal in pricing your house is to draw attention from competing buyers and let bidding wars push the final sales price up. Pricing your house too high to begin with could put you at a disadvantage by discouraging buyers from making an offer.

Your trusted real estate advisor can help you find the price for your home that reflects the current market value. Lean on your agent to help you with this crucial first step.

2. Keep It Clean

It may sound simple, but keeping your house clean is key to making sure it gets the attention it deserves. As realtor.com says in the Home Selling Checklist:

“When selling your home, it’s important to keep everything tidy for buyers. . . . Remember to take special care with the bathroom, making sure the tile, counters, shower, and floors shine.”

Before each buyer visits, assess your space and determine what needs your attention. Wash the dishes, make the beds, and put away any toys. Doing these simple things can reduce any potential distractions for buyers.

3. Make It Easy To Visit

Giving buyers the opportunity to see your house on their schedule can be a true game-changer. Buyers are less likely to make an offer if it’s difficult to plan a tour or they can’t easily fit it into their schedule. Making your house available as often as possible helps create opportunities for more buyers to fall in love with your house.

Rest assured your trusted real estate advisor will keep your health and safety top of mind when buyers tour your home. Agents use the latest guidance to stay up to date on any protocols and sanitization recommendations.

4. Help Buyers Feel at Home

Finally, it’s important for buyers to see all the possible ways they can make your house their next home. As the realtor.com article puts it:

“The goal is to create a blank canvas on which buyers can project their own visions of living there, and loving it.”

An easy first step to create this blank canvas is removing personal items – pictures, awards, and sentimental belongings – from your space. If you’re unsure what should be packed away and what can stay, consult your trusted real estate advisor. Spending the time on this step can pay off in the long run, as the 2021 Profile of Home Staging from the National Association of Realtors notes:

“Eighteen percent of sellers’ agents said home staging increased the dollar value of a residence between 6% and 10%.”

Bottom Line

To make the most of today’s sellers’ market, avoid the temptation to skip over the essential preparation steps. Let’s connect today to discuss all the ways you can maximize your home sale!

703-242-3975 | Info@TheBeltTeam.com | Contact Us

Wondering what your home is worth? Click Here for a FREE INSTANT home valuation!

The #1 Reason Not to Wait to List Your House for Sale

Many industries have been devastated by the economic shutdown caused by the COVID-19 virus. Real estate is not one of them.

Mark Fleming, Chief Economist for First American, just reported:

“Since hitting a low point during the initial stages of the pandemic, the only major industry to display immunity to the economic impacts of the coronavirus is the housing market. Housing has experienced a strong V-shaped recovery and is now exceeding pre-pandemic levels.”

Buyer demand is still strong heading into the fall. ShowingTime, which tracks the average number of buyer showings on residential properties, just announced that buyer showings are up 61.9% compared to the same time last year. They went on to say:

“Normally, real estate activity begins to slow down in the late summer, but this year it peaked in July, August and into September.”

There Is One Big Challenge

Purchaser demand is so high, the market is running out of available homes for sale. Just last week, realtor.com reported:

“Since the beginning of the COVID pandemic in March, nearly 400,000 fewer homes have been listed compared to last year, leaving a gaping hole in the U.S. housing inventory.”

The National Association of Realtors (NAR) revealed that, while home sales are skyrocketing, the inventory of existing homes for sale is dropping dramatically. Below is a graph of existing inventory (September numbers are not yet available):

The #1 Reason Not to Wait to List Your House for Sale | MyKCM

Homebuilders are increasing construction, but they cannot keep up with the high demand. Bill McBride, founder of the Calculated Risk blog, in discussing inventory of newly constructed houses, notes:

“The months of supply decreased to 3.3 months…This is the all-time record low months of supply.”

What does this mean for sellers?

Anyone thinking of putting their home on the market should not wait. A seller will always negotiate the best deal when demand is high and supply is limited. That’s exactly the situation in the real estate market today.

Next year, when the pandemic is hopefully behind us, there will be many more properties coming to the market. Don’t wait for that increase in competition in your neighborhood. Now is the time to sell.

Bottom Line

Contact The Belt Team today to get your house on the market at this optimal time to sell. Let our 50+ years of experience work for you! Info@TheBeltTeam.com | 703-242-3975 | www.TheBeltTeam.com

Wondering what your more is worth? Click below to be taken to our free home valuation site to find out!

Shhhh! What NOT To Say When Your Home Is On The Market!

Real estate markets around the country differ in terms of the protocol of how showings are handled. In some areas, homes are shown by appointment only with the listing agent present for every showing. In Northern Virginia, it’s customary for buyer agents to let Sellers know when they would like to show the home to their clients. The Seller then lets the agent in or the agent accesses the home through the lockbox that is placed on the door. (Appointment only listings exist, but unless the home is in the multi-million dollar luxury category, this can be a huge detriment to selling.)

This means Sellers are often home when agents come to show. We recommend that our Sellers leave during showings so Buyers can really picture the house as “theirs”. The other reason we recommend they leave is because it’s in their best interests NOT to discuss the following things with the Buyer Agent or the Buyers. Why? Because potential purchasers want to obtain the LOWEST price and BEST terms for themselves. And Buyer Agents represent them, not you.

The conversation might be a casual one. Just a meet & greet as you head out the door. But don’t get caught off guard and end up in the DANGER ZONE!

7 Things Home Sellers Should Not Say

7 Things Sellers Should NOT Discuss With Buyers (or Buyer Agents):

1. Reason for selling

2. Motivation/urgency to sell

3. Willingness to consider an offer less than the listing price

4. Terms under which you would sell

5. Relocation, timing, benefits & policies

6. Items of personal property which you “might” be willing to include in a sale.

7. Any confidential information that would serve to disclose your negotiating strategy.

For more tips about how to sell your home for the highest price, contact Terry Belt & The Belt Team. We are known nationally for our top-notch negotiating skills and Belt Team listings sell FASTER and for MORE MONEY than average. It’s why we are routinely recognized among the best Realtors in Northern VA, and rank in the top realtors in the entire state.

FREE – What Is My Home Worth?

Our mission is “Changing Lives For The Better“. If it’s time to change yours, call Terry Belt & The Belt Team at (703) 242-3975

Getting Your Home Ready to Sell!

getting your home ready to sell!

We recently received a question on our Facebook page that we think many more of our followers may be asking themselves. The Question:

question

This one question sparked a conversation between our CEO, Terry Belt & Partner Agent, Tom Hanton about not only painting, but staging & re-purposing as well. Be sure to check out the video here.

green wall

Green is fresh, green is fun, green is not everyone’s favorite color. Bold, unique, and funky colors are super cool, but they do not typically work for everyone. When you are listing your home you want someone to walk in and be able to picture themselves living there. You want them to imagine their furniture in your living room, their pictures hung on your walls, and they cannot do that if the wall colors clash with their plans. The best option in this scenario is to re-paint to a much more neutral color (taupe, light grey, beige, tan, etc.). Think model home. You want your home to be a blank slate for a buyers imagination to run wild!

taupe-living-room-sofa-collection

Welcome home! This house is bright, fresh (without being green), and clean. This is a prime example of a home that is ready to sell. If your walls are a neutral color like in the above photo you are in a good place. Our only tip here would be to pay attention to your base boards and moldings. Make sure they are a bright white. This small tweak will make the room appear much brighter and welcoming to potential buyers.

Painting is a very simple to-do when getting your home ready to sell, and it goes hand in hand with staging. The Belt Team has been in the industry for over 50 years and have formed relationships with some of the best stagers in the industry. We often coordinate consultations for our clients with our favorite stagers when we are trying to get their home ready for the market. Having a professional come in takes a lot of the stress off of you during an already stressful time. If your budget doesn’t allow for full staging, there is also the option of re-purposing. This is a simple fix when you’ve got the pieces, but they are not being used in the most optimal way. A professional stager can come in and re-purpose your furniture, decorations, etc. and create a scene that a buyer will be blown away by.

Below is an example of re-purposing a room! This was one of our past listings. When the room being setup as a bedroom was not working, our stager came in and suggested turning it into a recreation room instead. We got much better feedback with this setup from potential buyers.

Overall the decision to paint, stage, and re-purpose is 100% up to the seller. Your agent’s job is to help you make those decisions and suggest the best game plan for the quickest sale of your home. Like most things in real estate there is never a simple answer to most questions. We hope these few tips can help you consider the best options to get your home market ready!

If you have any other questions or topics you want us to cover please do not hesitate to reach out!

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Should I list my home during the Holidays?

Should I list my home during the Holidays? This is a questions the agents on The Belt Team get a lot! Terry Belt, our CEO, & Tom Hanton have 11 reasons you SHOULD in fact list your home during the Holidays!

  1. People who look for a home during the Holidays are more serious buyers!
  2. Serious buyers have fewer houses to choose from during the Holidays and less competition means more money for you!
  3. Since the supply of listings will dramatically increase in January, there will be less demand for your particular home! Less demand means less money & longer time on the market for you!
  4. Houses show better when decorated for the Holidays! #curbappeal
  5. Buyers are more emotional during the Holidays, so they are more likely to pay your price!
  6. Buyers have more time to look for a home during the Holidays than they do during a working week.
  7. Some people must buy before the end of the year for tax reasons!
  8. January is traditionally the month for employees to begin new jobs. Since transferees cannot wait until spring to buy, you must be on the market now to capture that market!
  9. You can still be on the market, but you have the option to restrict showings during the six or seven days during the Holidays!
  10. You can sell now for more money and we will provide for a delayed closing or extended occupancy until early next year!
  11. By selling now, you may have an opportunity to be a non-contingent buyer during the spring, when many more houses are on the market for less money! Sell high and buy low!

Terry & Tom elaborate on this list in the video above. Be sure to check it out!

*List credit to Mike Ferry, North America’s Leading Real Estate Coaching & Training Company*

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OMG! What Realtors Say To Other Realtors About YOUR House

Home Selling Mistakes

If your home has been on the market, and it’s not selling as fast as you expected, it could be that your home is one of the ones Realtors are talking about to each other! (But don’t worry, these are all fixable issues!)

Here are some real life examples of “What Realtors Say To Other Realtors About YOUR House”:

1. “Interesting” MLS Descriptions:

Here’s a real example from our local MLS: “Basic rancher in good shape, but has working Single Father Decor“.

A Realtor friend posted this on Facebook and asked “I wonder if THAT was approved by the Seller?!

It may accurately convey the state of the home, but it doesn’t help you sell. It night be wiser to list your home with a professional who will provide a free consultation with a professional stager. Even if you don’t choose to hire the stager, she will provide you with no cost ways to prepare your home so you put your best foot forward.

2. Inaccurate MLS Entry:

If your home hasn’t been shown much, it could be that your agent entered it wrong in the MLS. Check out this Facebook post from another Realtor friend of mine:

Why My Home Isn't Selling

This happens a lot. Sometimes the number of bedrooms is wrong. Sometimes townhomes are listed as condos. Sometimes homes are listed in the wrong zip or city!

3. Oops, We Hid The Property Address:

Why My Home Isn't Selling

This could possibly be a tactic to get people to call, but we think it works in reverse. Most people will just go on to the next home for sale. Kind of hard to find an open house when you don’t have an address, right?!

4. Typos That Make You Cringe:

Why My Home Isn't Selling

Enough said here!

5. “Charlie” Is Home:

Why My Home Isn't Selling

The reaction above (even from “dog” people) is not unusual. (Here’s how we advise our clients if they are selling a home when they have a pet.)

6. Ugly Christmas Sweater:

Wallpaper Room

You should see the pictures agents post. If you think the paint or wallpaper in your home doesn’t need to come down, you might think again because your home may have been entered in someone’s Facebook contest for UGLIEST ROOM. (It’s kind of like the Ugly Christmas Sweater Party – except online.)

How Do We Fix This?

The one thing we see in common in most of the cases like the above, is that Sellers sometimes choose Realtors who are not full-time, who are not professional, who don’t work with professionals and/or who work solo without teams to handle the details.

If you’re selling your home, don’t be short sighted. Listing with your sister, your neighbor, your friend, or your local discount broker just might not be in your best interests!

You deserve the BEST Realtors in Northern VA to protect your asset. Call The Belt Team at (703) 242-3975 and ask about a FREE staging consultation with a professional stager, FREE listing photos from a professional photographer and FULL SERVICE from a professional team. Belt Team listings sell FASTER and for MORE MONEY than average.

Don’t be the house everyone is talking about, but no one is selling!

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