Mistake No. 4: Having Home Viewed By Unqualified Buyers

What is a Pre-Qualified Buyer? Well, simply put, it is the initial step in the mortgage process and is a simple determination of the creditworthiness of a potential buyer. It’s fairly simple; a potential buyer provides a lender, either online or on the phone, with an informal (not based on credit report) overview their finances (Income vs. Debt). A lender then provides the buyer an idea of how much mortgage they may qualify for. So, Mr. & Mrs. John Doe now know what price range they should look in (ex: $200,000) There are no costs involved in prequalification. The procedure is quick and easy and based solely on the information the buyer provides to the lender, a pre-qualified amount is not a sure thing, but it does let the buyer know what their limits are.

So, let’s say Mr. & Mrs. J. Doe did not pre-qualify, but they are ready to buy and just love your home in that neighborhood. So they call a Realtor and ask to view the home. Your home is currently listed for $275,000. You get a one hour notice from Mr. & Mrs. Doe’s agent that the family will be traipsing through your home this morning. Inconvenient, however, you don’t want to lose a prospective buyer. But did you?

In this economy, a showing requirement should be preapproval to ensure the people entering your home are shopping in the range they can afford. (Some Realtors won’t put a buyer in their car and drive them all over town with these gas prices, without knowing what they qualify for, but some do). You can request your Realtor to not show the home to unqualified buyers. Your agent is working for you and your best interests and will advise you whether or not it’s a good idea, or a bad idea, depending on the specifics of your home and local market.

While written proof cannot be obtained, your Agent can request that other agents not show your home to unqualified buyers. This is perfectly acceptable if the request is coming from you, the client.

Call our office and speak to a Realtor® for more information!

Next Mistake……..Limiting Your House Showings

 

 

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Mistake #3 – Being Dishonest

Being dishonest never pays.  Disclosure laws exist, but vary state to state.   A seller risks losing a potential sale by hiding something they know is wrong with their house.   When it’s found, inevitably during the Home Inspection, your buyer will wonder what else you are not telling them.

Bottom line, honesty, as always, is the best policy.

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Mistake No. 2: Overpricing Your Home.

Ah….pricing your home right.   No subject could be touchier.  Although no one can place a value on the “home” you have built over the years, in order to sell, an asking price must be reached.  Your homes asking price cannot be based on what you need to net financially.   This usually never works, as the sales price is determined by the market, not you.

Setting your asking price too high may be the #1 mistake a seller can make. This will affect the amount of agents and buyers who will consider looking at the home and you will experience very few showings and probably no offers.   In
contrast, a slightly-below-market asking price significantly increases buyer activity and may even generate multiple offers!

It is the job of your Realtor to determine a fair asking price.  This is done with a Comparative Market Analyses (CMA).   A CMA is an evaluation of certain market indicators of sold homes, current listings, pending sales and withdrawn or expired listings.  By reading indicators such as square footage, construction date, amenities, condition and location, a sales price for listing purposes can be reached.

Call us today for your CMA!

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Avoiding Common Mistakes For Sellers

In today’s market, selling your home is tough enough.  Certain mistakes can cost you a favorable deal or worse yet, any deal at all!   In today’s blog, we will discuss the top mistakes and provide tips to assist to make your home more “sellable”.

Mistake:  Failing to “Prep” the Home.

A polished home will make a buyer feel more at ease that they are purchasing a home that has been well maintained.  This appeal may allow your home to possibly sell faster.  Make the home more appealing to buyers by increasing curb appeal.   Ensure the yard and home’s exterior is well maintained throughout the time the home is on the market.   Keeping it edged and cut, Trim hedges, weed lawns and flowerbeds, and prune trees, regularly.  Paint the front door.  Clean and align gutters and check around the home for loose shingles, boards, window sills, etc.. and do a little spruce up.

De-Clutter!  When a prospective buyer is viewing your home, they imagine their belongings fitting in the home and picturing themselves living there.  That’s hard to do when the home is filled with all your cherished memories and all the trinkets from your family vacations.  Depersonalize and de clutter as much as possible.  Box up some of the family photos.  (When the home sells, you’re going to have to pack them up anyway, just get a head start.)  Clean out the closets, cabinets and garage.  Have a yard sale and use that cash to invest in a small storage unit for a few months for larger items that you prefer to hold onto.

Give the home a detailed cleaning. The home, now de-cluttered, will appear brighter.  If time is an issue, any of our Realtors can recommend a cleaning service.  It’s worth the investment.  If needed, repair any holes or damage to drywall.  Remove tattered wallpaper and paint with neutral colors like soft beige or off white.  Spruce up the paint on walls in heavy traffic areas.

Finally, keep the dishes out of the sink and the counters clean and free of clutter on a day to day basis.  Most buyers reach there first impression within one minute of viewing the home.  Make sure that impression is a good one!

Stay tuned to the blog for our “next mistake”…..Overpricing your home!

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Tri-Cities…we’ve made the news!

We are always looking for interesting and trending happenings within Real Estate and our local community in our Distinctive Properties blog.   We have been blogging lately about the low interest rates and how there has never been a better time to buy a home!  So imagine the treat I received when I saw the cover story in the Tri City Herald that read:  “Home Buying Picks up in the Tri-Cities” and the cover story picture…A Distinctive Properties Inc. sign reflecting the name of one of our top Agents, Realtor Susan Bond!

The story involved a gentleman by the name of Brant Truman who apparently was reading our blog recognizing he should buy before these historically low rates start rising again!

Well, he isn’t the only one!  A local chain Real Estate agency reported its best May for listings in its history and according the National Association of Realtors, residential home sales are up (10%) this past month then they were the same month in 2011 and the National median sale price increased the same month compared with the same month last year.   With mortgage rates at a historic low and the competition among home sellers making prices more competitive, again……there has never been a better time to buy!

Truman did suggest interested buyers start with finding a good real estate agent. Give us a call today!  We provide “Distinctive Service for Distinctive Clients!”

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Memorial Day in Kennewick

As a military spouse and daughter, I have a strong sense of patriotism. My family and I observe Memorial Day regularly and my son, a Civil Air Patrol cadet, also has the strong sense of patriotism he and his fellow cadets routinely participates in remembrance ceremonies. I felt obligated to mention this important holiday to all that is not a religious holiday, but an American Holiday. And after all…We are all Americans!

Memorial Day, originally called Decoration Day, is a day of remembrance to take some time to honor those, both past and present, who serve and protect our country. Memorial Day was officially declared on May 5, 1868 by General Logan, Commander of the Grand Army of the Republic and was first observed on May 30, 1868, when flowers were placed on the graves of Union and Confederate soldiers at Arlington National Cemetery.

The first state to officially recognize the holiday was New York in 1873. By 1890 it was recognized by all of the northern states. The South refused to acknowledge the day, honoring their dead on separate days until after World War I, when the holiday changed from honoring just those who died fighting in the Civil War to honoring Americans who died fighting in any war. Although officially not declared until 1868, there is evidence that women’s groups in the South were decorating graves as far back as the Civil War.

To help remind Americans of the true meaning of Memorial Day, the “National Moment of Remembrance”   was passed on Dec 2000 which asks that at 3 p.m. local time, for all Americans “To voluntarily and informally observe in their own way a Moment of remembrance and respect, pausing from whatever they are doing for a moment of silence or listening to “Taps”.

Now that you know, you can celebrate. Here are a few activities happening in Kennewick on Memorial Day:

Riverview Heights Cemetery in Kennewick – 10th and Olympia will feature a Memorial Service starting at 9am Monday.

Desert Lawn Cemetery in  Kennewick, 10th and Union, will have a large Memorial Service beginning at 11am Monday.

Sunset Memorial Gardens, on the Bypass Highway in Richland, will have their Memorial Service starting at 11am Monday. Throughout the weekend, Sunset will also feature the flying of 1,000 flags at the cemetery in honor of Veterans. I attended last year and it was quite remarkable to see!

Columbia Memorial Gardens, just off Lewis St. in Pasco by 24th St. 10am special Memorial Day service Monday.

Thank you to all those who served!

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Free Slurpees from the Slurpee Capital of the World Today!

In case you hadn’t heard……..Kennewick aimed to hold the claim to fame….”Slurpee Capital of the World”  in 2008, a title which has been held by Canada  The owner of the Clearwater Ave franchise declared Kennewick the slurpee capital of the world in July 2008.

The honor goes to the market area with sales of the highest number of “cups on average per store.  While Canada had the “highest number of cups on average per store, in July 10, 2009, A United States representative of 7-Eleven reported that Kennewick sells more Slurpees per day than any store in the world!    In July 2011, Canada was again named “The Slurpee Capital of the World” by 7-Eleven.

While the controversy continues on who reigns Slurpee Surpreme, you can head on over to your nearest store and get a FREE 7.11 oz Slurpee from 11am – 7pm, today 5/23 only.

Today’s treat is in celebration of a new product, slurpee lite.  A Sugar Free variety using Fanta Sugar-Free Mango.

I will see you there!

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Kids Dig Rigs This Weekend!

From kids age 2, to the kid of in the 85 year old, all will want to visit Columbia Park this Saturday for “Kids Dig Rigs”.    Monster trucks, fire trucks, tanks, tractors, and classic cars will be on display from 11 a.m. to 6 p.m.near the Playground of Dreams in Columbia Park, Kennewick, WA.  Rides will be available on the Wheels of Freedom monster truck  as well!

Tickets cost only $7 which can be purchased at Ranch and Home in Kennewick, but if you are one of the first 1,000 kids to enter, Children’s Hospital in Seattle is picking up the bill!  You can get tickets at Ranch-N-Home on Columbia Center Boulevard in Kennewick.

All proceeds benefit pediatric services at Kadlec Regional Medical Center.

Vroom! Vroom! Hope to see you there!

~Your friends at Distinctive Properties.  www.distinctiveprop.com

 

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Construction has begun!

Look out the window!  Construction has begun on the new Kennewick General Hospital facility in Southridge off 395 in Kennewick, an excellent and convenient location for medical care.

The current Hospital, located off 10th in downtown Kennewick is more than 60 years old.  The waiting rooms are small and overcrowded, not nearly adequate for our growing city.

Kennewick is growing and so is the need for medical care.  Over the past 4 years, the hospital has hired 36 new physicians and in 2011, KGH served 40,693 patients.  The walk-in, after-hours pediatric clinic – the only one in the area – served 2,684 patients.

This new facility will allow KGH to continue to provide more patients rooms and departments to ease the overcrowding in the current location, as well as increase service availability in other departments, such as ER, Surgery and Birthing.

The new facility will be 200,000 Sq. Ft. and have 74 beds and will be three stories high.  This extra room will allow for the Emergency Room to increase in size from 14 to 27 rooms, in addition the Intensive Care Unit which will double from 6 beds to 14.

The new facility will have a medical office building with physician’s services that is expected to open before the main hospital.

Construction of the new facility will create 250 living wage construction jobs. Once the facility is open, it will create more than 100 new, permanent jobs.

Construction is estimated to take 24 months at a cost of $112 million.

Great news all around for the Tri Cities!

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