Our Real Estate Blog
The bad news about selling your home is that there are dozens of mistakes you might make that could result in a lost sale, unnecessary price reductions, and delays in finding a buyer.
The good news is that the vast majority of seller mistakes are completely avoidable -- especially when you have an experienced real estate agent guiding you through the process and providing you with ongoing advice and marketing assistance.
Pricing and Perception
Setting too high of a price for your home is a common mistake -- one that's often difficult to recover from. Since "the clock is ticking" from the moment your home officially goes on the market, it's important to make the most of those first few weeks.
House hunters are often strongly attracted to homes that are advertised as being "just on the market." Those words can be very compelling because they imply newness, a limited opportunity, and scarcity. As the advertising industry has known for generations, consumers are drawn to products and services that are new, fresh, and in demand. However, just like yesterday's news or day-old bread, the longer a house is on the market, the less appealing it becomes.
According to a Zillow study, homes for sale priced around or slightly below market value are almost 50 percent more likely to sell within 60 days than those priced 12 percent or more above market value.
Working with a knowledgeable real estate professional can help make sure you don't lose that initial out-of-the-gate momentum by pricing yourself out of the market. They'll base their recommendations on a number of factors, including a comparative analysis of recently sold homes in your neighborhood .
Here's a house-selling mistake that most people probably don't know about: You might be losing potential buyers because you've chosen an "odd selling price." The National Association of Realtors points out that listings may sometimes be excluded from Internet search results if the asking price is just a few thousand dollars above a typical pricing range. "Buyers search real estate websites for price ranges, such as 'homes between $250,000- $300,000.' If you set an odd price to make your listing stand out, say $302,499, you may miss some of your best potential customers."
If you realize after a few weeks that you've incorrectly priced your house, it not only becomes necessary to lower the price, but you also have to contend with a lower perceived value among prospective buyers.
A few other words and phrases that tend to whet the appetites of prospects searching for their next home include "move-in condition," "landscaped," and "updated." Many people also like the sound of granite countertops, maple hardwood floors, and gourmet kitchens.
While it pays to know a little about pricing, home staging, and buyer psychology, getting advice and guidance from a seasoned real estate agent is usually your best bet for producing the fastest and most satisfying results in selling your house.
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Buying a home may seem like a smart financial move. However, it may not always be the right time or the right move for you. While buying a home is a great investment, you may not be ready to buy a home of your own. The following questions should help you to determine whether or not you are fully ready to buy a house in the near future.
How Much Money Do You Make? How Much Have You Saved?
buying a home is a significant expense. First, you’ll need quite a large sum of money for a downpayment and closing costs on the home. Second, to get approved for a mortgage, the lender will look at every part of your finances from your income to your assets. Once the home is purchased, you’ll also need quite a bit of capital for expenses including insurance, taxes, HOA fees, emergency funds, utilities, and furniture. You don’t want to buy a home only to be overwhelmed with costs. You want enough of a financial cushion to enable you to furnish your home, decorate your home, and not have a completely empty bank account. That’s why you should make sure that you do make enough money to buy a home.
How Much Debt Do You Have?
If you have established that your income is enough to buy a home, the next thing that you need to establish is that your debt isn’t too high. Before you enter into the adventure of homeownership, you’ll need to make sure that your bills are under control. These expenses include things like car loans, student loans, and credit card bills. Your lender will put your debt into consideration as a part of your entire financial picture. Your debt (including your proposed mortgage payment) should be less than around 36% of your gross income. Before you take the leap into buying a home, you’ll need to make sure that your debt is under control. If you need to take a step back and pay your bills down before you start house hunting, you should as it will make buying a home easier for you.
Are You Seasoned At Your Job?
In order to secure a mortgage for a home, you’ll need to show that you have been at the same job for a certain period of time. Your average income will probably be calculated based on how long you have been at the company and your job history. You should be able to explain any income gaps, changes in positions or companies. Otherwise, you’ll appear to be an unstable person to lend to. Lenders want to know that you’ll have a steady, stable income.
How Is Your Credit?
In order to secure a mortgage, you’ll need to have a good credit score. Check on your credit report when you begin thinking about buying a home. If your credit is on the low side, you’ll want to work on bringing that score up.
Over the years, science has been on the side of meditation. Faultfinders will tell you that it is just another New Age name for napping and spiritual hogwash, but that is not true at all. In actuality, science has proven you are better off when you meditate than your peers who choose not to. In recent times, a wealth of scientific research has been carried out to provide undisputed evidence that meditation indeed has healing properties. Take a look at the following health benefits of meditating below:
1. It slows down the aging process
Telomeres are tiny strings of DNA that shield the end of chromosomes. Naturally, these small strings tend to shorten over time as they perform their duty, and as they compress, aging takes place. In 2013, Harvard carried out research that measured the telomeres of 37 people. The result showed that the people who engaged themselves with meditation had longer telomeres than those who did not meditate.
2. It relieves chronic pain
The journal of pain reported a study examining the use of meditation on 89 patients with constant neck pain. Some of these patients were put on a home-based exercise program while the others were set apart to a 90-minute weekly guided meditation practice. The guided meditation practice proved useful in decreasing the pain in contrast to those who used the home-based exercise program.
3. It treats Addiction
In another study, 248 people practiced qigong meditation on a short-term alcohol and drug addiction treatment program. After the study period, the participants confessed to having less anxiety, self-control, and reduced craving.
4. It reduces stress
Several studies have shown that people who practiced loving-kindness meditation more often feel less stressed and can better deal with stressful situations. Also, people who practice loving-kindness meditation feel very confident about themselves and have a lesser probability of getting depressed.
5. It improves fertility
Meditation reduces stress, and science proves that reducing stress can improve the chances of a woman getting pregnant. An Oxford Journal study reports that the stress level of women decreases on the month of conception. Furthermore, in the International Journal of fertility, scientific research proves that couples who practice meditation while trying to conceive are less stressed and more fertile than couples who do not. Regarding these studies, being calm and relaxed plays a significant role in fertility.
6. It keeps the heart in good shape
Meditation helps prevent cardiovascular disease and strengthen heart muscles. A variety of scientific studies shows that people who meditate have lesser chances of developing heart failure, stroke, and blood pressure.
Meditation is an inexpensive way to manage stress and stay healthy. Go on YouTube to find videos tutorials on various meditation techniques or visit your local gym to inquire about taking a class.