So much talk about climate change and sea levels rising, here’s my opinion.
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1 Mistake That Can Cost You Big Bucks When Selling Your Home
Do Not Be Too Critical of Your Home
More often than not, I come across homeowners who are more critical of their home than they should be. More so, when it comes to preparing their home for sale.
When I come across an owner with a list of repairs and upgrades for their home, I have to stop them from potentially losing money! This often happens due to the fact that when living in a home, the owner will notice every small detail and think it is a big one in need of fixing.
A good example is, when you have guests over at your home, it is almost out of instinct to say “excuse the mess!” even though your home may be super clean and organized. The same thing happens when preparing to sell your home.
RELATED: 4 Leading Home Projects Everyone is Doing
Get Expert Advise to Avoid Unnecessary Expenses
Do not fall into your critical perspective of your home and repair and upgrade every minor thing. Get an expert advise from a professional real estate agent on what are necessary repair expenses and what are not!
Avoid making the mistake of spending money to fix-up the home if at the end it will not make a difference at the time of sale.
In my many years of experience helping homeowners sell their home, I have been able to sell homes AS-IS and make the most profit for my client at the sale.
If you need guidance on what are necessary repairs for your home, contact me with no compromise or obligation! I am glad to help you make the right decisions to make the most of your home sale!
Curious to Know the Value of Your Home?
We are here to provide you a FREE assessment of your home to determine the true market value! Simply contact me with your information, and will send you the value right away, no obligation!
May Home Prices Up 4% As Inventory Dwindles
May 2020 Compared To May 2019:
Miami Single Family Home Stats
- Number of closed transactions are down 46%
- Median prices are up 4% from $360,000 to $375,000
- Available properties for sale is down 16% from 6,759 homes to 5,665
Miami Town-home and Condo Stats
- Number of closed transactions are down 61%
- Median prices are up 7% from $243,000 to $260,000
- Available properties for sale is down 8% from 15,893 properties to 14,705
Home prices and other stats differ from neighborhood to neighborhood. Get an accurate home valuation today!
Data provided by Florida’s Multiple Listings Services.
Ever Rejected a Great Deal In Case There’s Something Better?
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One Way to Get the Wrong Value on Your Home? Ask Your Neighbor!
“Hi neighbor, how much did you sell your home for?”
If you want to get the wrong value of your property, talk to your neighbors. When I speak to homeowners, I often hear the same story. They have spoken to a neighbor across the street and are being told they sold their property for “X” amount of money. Then, the homeowner follows up with a neighbor situated behind them. This neighbor also says that their property sold for a similar sum of money.
The homeowner then believes that their property is worth this magical “X” amount. At this stage, I immediately go to the county tax records. Ninety-nine percent of the time, the information provided by the neighbors are incorrect.
Now, I don’t believe that the neighbors are bad people who are intentionally trying to be misleading. My gut tells me that in most cases, these people are hyping up the results. As a way of appearing successful to others, they inflate the price. It’s human nature.
Long story short, If you’re trying to determine the value of your property by asking your neighbors, be sure to verify the data first so that you’re working with accurate numbers.
RELATED: 2 Reasons Zillow Gets Home Values Right, Half The Time
How to Determine My True Home Value?
A simple way to do so is by calling a local real estate agent who can verify this information in no time. We can help you determine the true value of your home with accurate sold prices in your neighborhood. Contact us today to find out with no obligation!
Home Improvements That Will Make You Lose Money
Choose your home improvements carefully
I recently got off the phone with someone who insisted on making home improvements with the goal of increasing their home value. While home improvements do help the value of your home, it is not always the case.
Now, don’t get me wrong, I love updating my home when I have the resource to do so! Making improvements is beneficial in keeping the home updated with your current taste in décor. Moreover, it also helps keep your home in good conditions to decrease the chances of any major repairs. I even made a post on Four leading home projects everyone is doing.
Now, how does it affect your home value when it comes to making improvements to sell? Well, if you are not careful on what you choose to do on your property, you may break-even or even worse, lose money.
Break even or lose money?
As a homeowner thinking of selling your home, your goal is to maximize profit! I mean, who does not want to make the most out of their sale? As a result, most homeowners believe their home needs to be top notch to compete in the housing market. Therefore, they start doing home improvements to make it the most presentable home possible.
Usually, what happens is that homeowners get carried away and truly believe these improvements will make a huge impact on their home value. The reality is, most times, it will not.
Depending on the updates and repairs, it may not be worth the work when it comes time to sell. In short, homeowners realize that the updates done did not deliver to their expectations and did not impact the buyers to pay more for it.
Why will home buyers not pay more for my home improvements?
Look, we all have great memories and a certain attachment to our homes. The improvements we make have always been with our family in mind. In the end, what we think of our own home is not what the buyers walking through will think. What they are thinking is not about the present, but of the future. They are thinking of how this home will fit their family needs and how to make it their own. Buyers will always want to change something or improve on something no matter how perfect we think our home is.
RELATED: How do buyers determine home value?
How to avoid losing money?
Therefore, the best way to approach this is by detaching from the home. Looking at the home like it was a product. So, with that in mind, do what is necessary to the property and not what you “feel” is the right updates to do.
If you are unsure of what home improvements to make to maximize the amount of money you make on your home when it’s time to sell, do not hesitate to reach out and ask me. I am happy to assist you in making the right decision!
Mario Avalos 