Why Wont' My House Sell In?
You’re trying to sell a Sacramento house that just won’t sell?
And yet – the news says the real estate market is heating up. The media is practically shouting again about multiple offers, high demand, and record-setting prices.
So where’s your contract?
These tips could be just what you need to help you sell your home.
Why won't my house sell in? - 6 Tips To Cure It
1) Get Good Help.
Just like before, there are novice agents and investors rushing into the booming market trumpeting that they know what they’re doing. But they don’t. They’re getting hit hard with the nuances of financing, deal structure, and evaluation. Seriously, chances are good that real estate is your biggest investment – don’t trust just anyone’s advice. If you want great results, partner with the pros.
2) Don’t make too many improvements.
Too often we see over-improved properties – those where the owners have gone too far. Even with the best of intentions, exceptional craftsmanship and true artistic talent, it’s incredibly challenging to exceed what the market is paying. Plus, most buyers want to add their own custom touches. Get rid of all the clutter and think “neutral”.
3) Do make necessary improvements.
Unfixed stuff scares buyers. Show that you’ve been a responsible property owner and get all the little details fixed. Don’t leave gaps in the trim or plates off of the switches. Get it inspected by a professional home inspector, and show off the healthy home report. This goes a long way towards establishing confidence that they’re making a good purchase.
4) Style and design matters.
Curb appeal is as important as the inside – so don’t neglect one part of the property to improve the other. Give buyers a cohesive impression of great style. Paint the walls, update the landscaping, and most of all – keep it immaculately clean. Consider hiring a professional designer to help tastefully stage the property.
5) Pricing matters a lot.
If you’re getting a lot of showings but not a lot of offers, you might not be too far off in price. If your best efforts to advertise your property aren’t making the phone ring, you’re probably overpriced.
6) Every property will sell – sometime.
There’s no magic formula – but there’s no substitute for experience.
I Inherited a House, What To Do? - Should I Rent or Sell It?
First, we’re so sorry for your loss. This can be a very challenging time for many reasons, and dealing with property ownership is tough at the best of times.
You’re thinking, “I inherited a house, what to do with this house?” Should I rent it? Should I sell it? How should I sell it? Tons of options open for you, but… … we can help.
We’re seasoned investors in real estate, and we’re looking to buy several houses each month in the Sacramento area. Every month we get calls from those who have inherited a house and are looking to sell the house… so the info below are some tips to help you navigate the process.
Here’s a few important considerations to help you make the right decision:
1) Make sure the mortgage is paid.
This may sound obvious, but if the person who left you a property also had a mortgage (unless it had no mortgage and was paid off, which is great!), you have to pay it (assuming you want to keep the property). Some banks will allow you to assume the loan, while others may force you to refinance into a new loan. If you don’t qualify for a new loan, renting may not be an option for you.
2) The investment is only as good as the manager.
If dealing with brokers, maintenance, tenants, rent collection and all the nuances of property management isn’t the best use of your time, hire a professional to help you or cash out now. Some people who inherit homes decide to keep the house and rent it for extra income. That’s a great strategy for sure. You just need to be prepared to manage the property and the hassles that can go along with tenants and toilets.
3) Property ownership costs money.
It’s rare to see a building that’s been perfectly maintained. Most inherited houses need major improvements. Consider hiring a professional property inspector to give you a detailed rundown on what you’ll need to do within the next five years, along with estimated costs. Surprises are very, very expensive.
4) Selling a property for top dollar costs money.
If you don’t want to deal with making repairs, updating kitchens, improving landscaping and overall cleanup, don’t worry. We buy houses for cash, as-is.
5) If the market will continue to grow faster than your other options, hang on to the investment.
We can help you analyze the value of your property today versus the long-term benefits of renting. If you can use the equity in your property in another way that outpaces the performance of the real estate market, you should. If you don’t have anything better to do with the money and the neighborhood is rising in value, hang on – real estate can be a great investment if you know how to correctly read the market.
6) Uncle Sam wants a piece of the action.
Don’t forget to discuss your inheritance with tax and legal professionals before you take action. There are major property and income tax consequences that will dramatically impact the cost of owning your investment.
7) Consider all your options.
In certain situations we may be able to help you structure a lease-option agreement that allows you to rent and sell at the same time – capturing the best of both worlds. These kinds of deals can be complicated, but our investment experience can help you win.
8) Compare a few scenarios.
We’ll help you determine prices for any property near – if you sold it today without doing any work, the highest price the market will bear, and the projected value of keeping it as a rental (along with the costs).