Getting the House Ready to Sell

Getting Your House Ready to Sell
Disconnect Your Emotions


When conversing with real estate agents, you will often find that when they talk to you about buying real estate, they will refer to your purchase as a "home." Yet if you are selling property, they will often refer to it as a "house." There is a reason for this. Buying real estate is often an emotional decision, but when selling real estate you need to remove emotion from the equation.

You need to think of your house as a marketable commodity. Property. Real estate. Your goal is to get others to see it as their potential home, not yours. If you do not consciously make this decision, you can inadvertently create a situation where it takes longer to sell your property.

The first step in getting your home ready to sell is to "de-personalize" it.

Make Your Home "Anonymous"


If there is a new home sales tract near your home, go visit. It doesn't matter what size the homes are. What you will find are some wonderfully (but sparsely) furnished homes that anyone could live in -- with the emphasis on "anyone." They are anonymous. There may be a baseball glove in the boy's room, but no family photos on the walls.

There may be "personality" - but no person.

The reason you want to make your home "anonymous" is because you want buyers to view it as their potential home. When a potential homebuyer sees your family photos hanging on the wall, it puts your own brand on the home and momentarily shatters their illusions about living in the house themselves.

Put away family photos, sports trophies, collectible items, knick-knacks, and souvenirs. Put them in a box. Rent a storage area for a few months and put the box in the storage unit.

Do not just put the box in the attic, basement, garage or a closet. Part of preparing a house for sale is to remove "clutter," and that is the next step in preparing your house for sale.

Uncluttering the House


This is the hardest thing for most people to do because they are emotionally attached to everything in the house. After years of living in the same home, clutter collects in such a way that may not be evident to the homeowner. However, it does affect the way buyers see the home, even if you do not realize it.

Clutter collects on shelves, counter tops, drawers, closets, garages, attics, and basements. You want as much open clear space as possible, so every extra little thing needs to be cleared away.

Take a step back and pretend you are a buyer. Let a friend help point out areas of clutter, as long as you can accept their views without getting defensive. Let your agent help you, too.

Real Estate News!

National Housing Survey: What America Thinks
by The KCM Crew on May 23, 2011 · 1 comment

in For Buyers,For Sellers



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inShareShare427inShareEach quarter, Fannie Mae releases their National Housing Survey. They survey the American public on a multitude of questions concerning today’s housing market. We like to pull out some of the findings we deem most interesting each time it is released. Here they are for the most recent report:

The Most Important Reasons to Buy a Home
When we talk about homeownership today, it seems that the financial aspects always jump to the front of the discussion. However, the study shows that the four major reasons a person buys a home have nothing to do with money. The top four reasons, in order, are:

It means having a good place to raise children and provide them with a good education
You have a physical structure where you and your family feel safe
It allows you to have more space for your family
It gives you control of what you do with your living space (renovations and updates)
The Home as an Investment
Though most people purchase a home for non-financial reasons, everyone realizes their is a money component to homeownership. Here is what they said on this issue:

66% of the general population (and 71% of homeowners) believe that homeownership is a ‘safe’ investment. This is the first time since the studies inception in 2003 that this number increased.
57% believe that homeownership has more potential as an investment than any other traditional asset class.
67% think that now is a good time to buy a home
Rent vs. Buy
We are always interested in the difference people see in renting vs. owning.

65% of renters have aspirations to someday own their own home
74% of renters think that owning is superior to renting (up 6% since the last survey)
96% of homeowners see homeownership as a positive experience (3% see it as a negative experience) while 82% of renters see renting as a positive experience (16% see it as a negative experience)
92% of homeowners live in a single family residence while 48% of renters live in a multi-unit building
Bottom Line
Our belief in the value of homeownership grows each time this survey is released.

Menomonee Falls Memorial Day Parade

Village News
Posted on: May 4, 2011
Memorial Day Parade Route/Closures
Residents and visitors to Menomonee Falls:

On Monday May 30th, 2011 between the hours of 9:45 am and 12:00 pm, STH 74/Main St between Pilgrim Rd. and STH 175/Appleton Ave. will be closed to all vehicular traffic to allow for the safe passage of Memorial Day Parade participants. In addition, no motor vehicles will be allowed to enter or exit residences along the parade path during this same time period.
The parade route begins on Main St. at Harrison Ave. and travels west on Main St. to Grand Ave. It then continues north on Grand Ave. where it terminates at the bridge over the Menomonee River just east of Woodlawn Dr. If you live on the parade route and anticipate a need to access your vehicle during this timeframe we suggest you park it on a nearby side-street prior to 9:00 a.m.
Your cooperation with these guidelines is greatly appreciated and will help ensure the safety of all parade attendees and participants. Enjoy the parade and have a wonderful holiday weekend.

Sergeant Matthew Lewek
Police Department Event Coordinator

Wauwatosa Framers Market Update!

Notice About 2011 Tosa Farmers Market Hours
Submitted By Tosa Farmers Market

Posted: March 22, 2011

The Tosa Farmers Market is pleased to announce our newly extended hours for the 2011 Season! We will be open every Saturday from May 21 through October 15 from 8 a.m. to 1 p.m. Be sure to stop by the market each week this season for fresh fruits and vegetables, delicious local food, live entertainment, educational workshops, and much more. Spread the word!



PLEASE NOTE that the timing of the 2011 Tosa Farmers Market, as printed in the 2011 Farm Fresh Atlas of Southeastern Wisconsin, is in error. The time reported in the atlas is 1 p.m. to 6 p.m., which is incorrect. Again, the correct hours are 8 a.m. to 1 p.m. each Saturday.



For more information about the Tosa Farmers Market, visit us online at http://www.tosafarmersmarket.com or follow us on Facebook and Twitter.



See you at the market!

New Listing

4200 W Rivers Edge Cir 17
Brown Deer, WI 53209-1168

$54,900

List Price:

$54,900.00 

Property Type:

Condominium  

County:

Milwaukee 

Total Rooms:

4 

Bedrooms:

2 

Full Baths:

1 

Half Baths:

1 

Garage Size:

1.0 

Garage Type:

Attached 

Pets Permitted:

No

Condo Name:

Rivers Edge 

Condo Fees:

$259 

Condo Fees Include:

Central Air, Common Area Insur., Common Area Maint., Heat, Hot Water, Pool Service, Recreation Facility, Replacement Reserve, Sewer, Trash Collection, Water 

Misc Interior:

Cable TV Available, Patio/Porch, Priv. Outside Entry, Storage Lockers, Walk-In Closets 

Common Ammenities:

Laundry Facilities, Near Public Transit, Outdoor Pool, Tennis Court 

School Dist.:

Brown Deer  

High School:

Taxes:

$1,927.00 

Tax Year:

2010 

Pets Permitted:

No 

Body of Water:

Milwaukee River 

Access Type:

River 

MLS Number:

1196841 

PIN Number:

Hot Line:

262.814.1400 

Listing Company:

Shorewest - Menomonee Falls 

25 Biggest Real Estate Mistakes

HGTV has brought together some of the top real estate experts to compile the definitive list of the biggest mistakes we all make when buying and selling our homes.

Do not buy a house based on its current decor.

25. Buying a House for Its Decor
Remember that you are buying the house, not the things inside it, so make sure you see beyond the decorations and look at the bones of the home. Focus on the floor plan and the square footage. You also might want to measure the dimensions and graph out how that's going to work with your belongings.

24. Not Providing Easy Access for Showings
Make your house easily accessible to potential buyers. If there's nowhere to park or it's difficult to get into, buyers may just skip it and look at someone else's property.
23. Not Researching the Neighborhood
It's absolutely critical that you research the neighborhood before you buy. Check out the area, amenities and the school system to be sure that your address corresponds with the correct school district. Also attend a community meeting, if possible. You're not just buying a house, you're buying a piece of that real estate and the land around it.
22. Losing Money With Auctions
While the starting bidding price for a house on auction might be a good deal, it doesn't mean the final price will be. Make sure that you are very strict with your budget when you are bidding; do not go over your final price because you got wrapped up in the excitement of a bidding war. Another thing to keep in mind is that when you buy a property at auction, you aren't able to get any of the warrantees or guarantees, and you are not able to do a home inspection. Find out if the auctioneer is going to add those charges on top of the sale price as well as if there are any liens on the property. You could be responsible for paying the property taxes on that house you just bought, which could make what looks like a good deal into a really bad deal.
21. Trying to Make the "Hard Sell" While Showing
If you are selling your house, you really shouldn't be around at the open house. You might want to try to sell the place on all the reasons you think the house is great, but that might not translate to the buyer. If you leave, you allow the buyers to give unbiased objective feedback to the agent, which is only going to help you in the end.

You don't have to wait until the weather is nice to put your home on the market. That's a common real estate myth.

20. Waiting Until Spring to Sell Your House
Spring is the busiest real estate activity period, but that does not mean that people don't buy houses 365 days of the year. That doesn't mean you can't emphasize your home's seasonal amenities.

19. Treating Real Estate Like the Stock Market
When the real estate market is really hot and is appreciating really fast, people tend to look at it like it's the stock market. But playing real estate is nothing like the stock market; when you invest in real estate, you really need to take a long-term approach.
18. Failing to Market Your Home in Different Ways
Don't market your home with just a "for sale" sign. Explore other marketing tools as well. Talk to your real estate agent about the marketing that he or she will do. It's something that should be set up from the initial signing of a contract with an agent. Some homes have virtual tours and photographs online. If you choose to go that route, don't forget to include the floor plans. That way, people can see the layout of your home and know if it's right for them.
17. Not Thinking About Resale
When you are decorating and renovating your home, you need to think about what is going to appeal to a broad section of buyers when it comes time to sell it. Buying houses and being in the real estate market is like chess: You always want to look two or three steps ahead in the game.
16. Buying Without Actually Seeing the Property
It's really easy to buy a house without seeing it because of the Internet and virtual tours, but virtual tours can be deceiving. Plus, it's really hard to actually get a sense and feel of a home by only looking at it online. You need to actually walk through the place yourself. If that's just not possible, hire an inspector to go look at the property and provide you with an assessment.
15. Trusting Everything a Real Estate Advertisement Says
Don't assume every ad is fact. Learn to decipher real estate lingo. For example, "cozy" means small, and "as is" means it's a fixer-upper. If there are a lot of exclamation points in an ad, it's because there is so little to say about the place. Follow the old adage: If it sounds too good to be true, it probably is.
14. Picking the Wrong Agent
Treat meetings with agents like a job interview because that's really how it works. Keep in mind that the person is going to be working for you. Talk to your friends who've sold houses and had good experiences with their particular agent, and go to open houses and observe how that agent interacts with other people. It's also a good idea to meet with the agent in their office. It allows you to see how organized he or she is, what kind of environment they work in and whether that's conducive to being able to do a good job for you.
13. Not Hiring an Agent
There's a lot more to selling a house than just putting a sign on the front lawn. If you don't have an agent, you will not get on the multiple-listing service (MLS). That means that other agents are not going to know that your property is for sale. Another thing to consider is if you are willing to show the house each time someone wants to come by and look at it. If you do plan to sell your house on your own, be sure to have a lawyer present at the closing. It's really important to have someone on your side who understands all the complexities.
12. Buying the Most Expensive Home on the Block
The most expensive house will only depreciate in value over time, rather than appreciate, which is what you want. Also, those houses are often not the first house to sell because they are usually overbuilt to the neighborhood. It's absolutely critical that you research the neighborhood before you buy to find out what the price point should be.

11. Not Setting a Realistic Budget
Just because the bank prequalifies you for a loan amount of $400,000 doesn't mean you can afford to make that payment every month. Before hitting the streets for a house hunt, you should sit down and make a monthly budget of what you spend every month. Come up with a number that you are comfortable spending on your mortgage payment, aside from those other expenditures. An easy way to do this is to take a third of your gross income and have that figure be the number you spend on the house. It is also a good idea to have six to nine months of mortgage payments in the bank, plus a little extra if you have any repairs that you might need to do.
10. Visiting the House Only Once
It's important to visit a house more than once because the neighborhood itself may be very different, depending on the day of the week and the time of day. It's also a good idea to go home and think about it, even sleep on it, before you go back again.
9. Not Being Pro-Active at Closing
The best thing to do when going into a closing is to get all the paperwork ahead of time. All that information should come from a mortgage broker or banker. They have what they call a HUD (Housing and Urban Development) One form that lists all the charges, and you can legally get it in your hands 24 hours before closing. Schedule the closing for in the morning, so you have a fresh mind and plenty of time to go over everything and to ask questions. The final walk-through is another imperative part of the process. You may want to have a home inspector accompany you.

Don't feel like you have to tackle major renovations before placing your home on the market. Touch-ups here and there, especially outside the home, typically do the trick.

8. Doing Major Renovations/Remodeling Before Selling
Minor upgrades usually have a higher return on your money than tackling major renovations before placing a home on the market. The main reason? Huge construction projects always cost more than you think they will, and they also take longer than you expect. The best place to spend money is outside. Research shows that increasing the curb appeal often returns the most value on your money. It's what gets buyers inside the house.
7. Skipping the Loan Pre-Approval Step
When you are pre-approved, the bank is saying, "we will give you a mortgage of up to this amount, so now all you have to do is find your home." Some sellers only allow real estate agents to show their house if someone has a pre-approved letter. That indicates that the shopper really is serious about buying a home.
6. Falling in Love With the First Property You See
Many homebuyers, particularly first-time homebuyers, fall into the trap of falling in love with the very first house that they see. You need to at least look at three more houses in the area to get an idea of what the comparables are in that price range. You want your real estate agent to show you homes comparable to what you saw. At the end of the day, re-evaluate.

Be sure to hire a home inspector to thoroughly check out a house you are interested in purchasing.

5. Buying a Home Without a Professional Inspection
There are a lot of things a home inspection can reveal about a property that are not visible to the naked eye. Be sure to hire someone who comes with a good referral basis, who's been in the business a while and knows what to look for. Look up the American Society of Home Inspectors and get a list of qualified home inspectors in your area. Once you find an inspector, insist that they compile a written report, complete with photos. Photographs are important because there are areas a home inspector will go that you might not look at.
4. Overlooking the Extra and Hidden Costs
Buying a home is not just about the money that you spend upfront; it's about all the rest of the money you have to spend beyond that. Find out what the property taxes are, what your water bill might be and what a standard electric bill is in that home, especially if you have electric heat instead of gas heat. You also need to factor in furnishings you may need to purchase before you can move in.
3. Buying What You Want, Not What You Need
Look at the space that you are already living in. It will help you to realize what you have been missing and what you need in your next home. Make a list of those needs and then ask your agent to start shopping based on those needs. On average, Americans live in a house for about nine years. Remember, you can always trade up a few times before you find the ultimate home.
2. Setting Too High of a Sale Price
As a seller, it's really important to do your research. To come up with your sale price, look up what comparable homes in your neighborhood have sold for. Figure out what the going price is and try to put yours right in the middle of that, unless you have something extra-special to offer. It's always better to price a home that way than to start too high and have to reduce. Once you reduce, it always looks like something is wrong with the home.
1. Failing to Showcase Your Home and Making Small Cosmetic Changes
When you are selling your house, you have to really look at it objectively and think about it from the viewpoint of the house hunter. Make minor enhancements to the house and maybe hire a professional stager to come and arrange your furniture. Staging is about decorating your house for the buyers' taste, not yours. A great place to start is with the front of the home and the main entryway. Home staging is designed to increase the potential selling price and reduce the amount of time the house stays on the market.