Posted by Amanda Bruen on 5/8/2018

Receiving a low offer on a home can be frustrating for a seller. But, you’re likely to see at least one or two offers on your property that are lower than you would like.

Right now, the housing market is filled with young professionals burdened with student loans, rising costs of living, and stagnating wages. So, it’s no wonder that they’re trying to save money anywhere they can.

In today’s post, we’re going to talk about what to do when you get a low offer so you can set yourself up for a sale that you’re happy with.

Don’t refuse outright

The first thing to know about low offers is that they can sometimes turn into something that both you and the buyer are happy with. Many successful home sales started at a number that the seller considered too low, but--through negotiation--was brought to a higher price and better deal overall.

Many sellers are uncomfortable with the idea of negotiation. Most people seldom negotiate prices unless they are buying a car, and even then would prefer to avoid the hassle.

For others, negotiation is a normal part of everyday life. Flatout refusing an offer, especially if you aren’t receiving many other higher offers, could be a missed opportunity.

Compare your asking price with similar homes nearby

Odds are that you and your agent have already done your research and found an asking price that is comparable in your neighborhood. But home prices fluctuate. To reassure yourself that your asking price is fair, take another look at homes up for sale that are around the same age and size of your home.

Take time to craft a counteroffer

Once you’ve had time to talk the offer over with your family and real estate agent (and maybe vented a bit), it’s time to come up with a counteroffer.

There are a few options for making a counteroffer that don’t involve significantly lowering the amount you stand to gain from the home sale. First, you could offer to relieve the buyer of some of the closing costs, such as paying for the inspection. Or, if you planned on leaving new appliances in the home, you could lower your asking price but take the appliances when you move.

Weigh your options

If the buyer still won’t raise their offer close to your asking price, it’s probably a good time to move on and rethink your sale strategy.

Take some time to consider the sale as a whole. If you aren’t receiving many other offers, it might be time to consider lowering to price or rethinking your marketing plan. You might consider repainting and taking new photos, or changing up your listing to highlight some other features of the house.





Posted by Amanda Bruen on 5/7/2018

This Single-Family in Newburyport, MA recently sold for $460,000. This Colonial style home was sold by Amanda Bruen - Cameron Prestige.


18 Dove St, Newburyport, MA 01950

Single-Family

$459,900
Price
$460,000
Sale Price

5
Rooms
2
Beds
2/1
Full/Half Baths
Beautifully renovated home featuring a spacious open floor plan & tons of natural light! This home has the blending of old world charm, coupled with modern amenities. This 2 bedroom, 2.5 bath, antique Colonial has undergone a complete transformation. New heating, tankless H2O, electric, plumbing, windows, roof, kitchen, flooring and amazing woodwork, as well as custom moldings, & deep attention to the finished details. Gourmet kitchen features custom cabinetry, granite counters, and stainless steel appliances! Expansive living room with recessed lighting. Spacious, modern bedrooms with great closet space! The private back yard is flat & fenced. A perfect spot for summer entertaining. Great opportunity to join the prestige Newburyport neighborhood! Prime location less than a block away from a waterfront park. Off street parking near downtown restaurants, & shops. 1/4 mile from high school. This home is truly one that you don't won't want to miss out on.

Similar Properties





Categories: Sold Homes  


Posted by Amanda Bruen on 5/3/2018

Many of us will move home several times throughout our lives. Whether it’s relocating for work, needing a bigger house for children, or a quiet place to retire to, it’s likely that the home you live in now won’t be yours forever.

 As a result, many homeowners wonder what they can do to ensure their home will have a high resale value when the time comes to move on.

 The good news is that there are a lot of things you can do now that will give you a good return on investment when it comes to selling your home later. However, there are a few factors that affect a home’s valuation that are out of your control. We’ll talk about all of those factors below. So, read on for a list of the factors that affect your home’s resale value.

 The age of your home

Your house may not complain about it, but it isn’t getting any younger. Homes tend to slowly decrease in value over time. A home built in the late 1970s, even if it’s well taken care of, most likely won’t sell for the same price as a 15-year-old home.

There is one exception to the rule, however, and that is historical houses. Homes that are a century old can sell for top dollar because of the craftsmanship and history that the house contains.

Admittedly, this is a niche market, as many people just want a safe and efficient home to live in. However, there are some homebuyers who will put in a bit of extra work around the house for the chance to live inside of a piece of history.

Smart renovations

When you’re upgrading your house it’s important to remember how that upgrade will pay off years down the road. Some renovations will almost always give a good return on investment such as a finished basement or attic and improving efficiency via added insulation or replacing windows.

Renovations that match a very specific decorative taste or style could come back to haunt you. This includes bathroom sinks, kitchen cabinets, countertops, and other expensive projects that are subject to the next owner’s taste. While these upgrades can give a good return on your investment, they’re more likely to be successful if they fit the current trends of style and craftsmanship.

Neighborhood and town

One of the factors of home valuation that you have little control over is the town and neighborhood the house is located in. If there are closed down businesses, foreclosed and deteriorating homes then potential buyers might be turned off to the neighborhood.

Similarly, the town you live in has a lot to do with how much people are willing to spend. If you have easy access to interstate highways and large cities, highly rated schools, and good local infrastructure, then buyers are likely to take these into consideration when making an offer, as the average cost of a home in your town is likely higher than some surrounding towns.




Tags: home   resale value   valuation  
Categories: Uncategorized  


Posted by Amanda Bruen on 5/1/2018

Home values continue to rise. Many people use their home equity in order to get a bit more financial security. The home equity line of credit can have many different benefits for you. From home improvement projects to a much-needed vacation, you can get the funds that you need for whatever you wish. Turn to your home equity with some careful thought, however. You could end up owing more than your home is worth, which defeats the purpose of tapping into your home equity to begin with. 


Make Your Decision Smart


Your home equity can be a good thing to tap in to if you’re not planning on spending like crazy. Maybe you just want a little extra cash on hand for emergencies. You’ll be prepared for anything unexpected. This could be a smarter decision than just blowing a bunch of money on a vacation, for example. 


Some smart things that you can use your home equity for include:


  • Home renovations
  • Emergency funds
  • College education funds
  • Cash advance


These ideas are investments that can help you to achieve other goals. You should be sure that you’re able to pay the money back. These projects or financial endeavors are much more suited to smart spending than just randomly spending money, buying a car, or other things that will put you in serious debt.


Home Equity Fluctuates


As the market changes, the amount of home equity that you’ll have to tap into does as well. The state of the housing market can actually dictate to you how much money you’ll be able to get. If the market isn’t good, you could end up in the negative financially, so do your research. 


How To Get Your Home Equity


There are a few ways that you can draw from your home’s equity. The first rule that you should understand is that you cannot borrow more than 80% of what your home is worth. Take a full remortgage your home, giving you the full 80% amount that your home is worth in order to take a lump sum. Alternatively, you can take a cash-out refinance where you set the amount of money you’d like to take out of your home’s equity as you refinance the home. You can also take out what’s called a “home equity line of credit,” which allows you to use the amount of your home’s worth as a credit card of sorts. You borrow money as you need it.     


The biggest issue with refinancing is that of planning. It’s important to know why you’re refinancing and what you’re planning on doing with the money. Used wisely, home equity can really be a great financial tool.





Posted by Amanda Bruen on 4/25/2018

Summertime brings plenty of sunshine and lots of heat. Meanwhile, for those who plan to sell a house in the near future, it may be beneficial to list your home before summer arrives.

Ultimately, there are many reasons to consider listing your home before summer, and these include:

1. Homebuyers typically are active in the weeks leading up to summer.

Winter usually represents a slow period for homebuyers. But when spring arrives, homebuyers frequently jump at the opportunity to pursue their dream residences. As such, spring may prove to be the perfect time to add your house to the real estate market.

Often, it helps to perform home repairs in winter. This will ensure your residence is ready to add to the housing market in spring, which could increase the likelihood of a fast, profitable home sale.

You may want to conduct a home inspection in winter as well. If you hire a home inspector to evaluate your house, you can receive extensive insights into your home's condition. Then, you can prioritize home repairs and upgrade your residence before you list it.

2. You can avoid moving in hot weather.

Let's face it – summer brings extreme heat that can make it tough for those who are moving from one address to another. Lucky for you, selling your house prior to summer ensures you can avoid moving large, heavy personal belongings in hot weather.

Of course, if you need help with moving, it may be beneficial to hire a moving company. This business will go above and beyond the call of duty to ensure you can enjoy a seamless move, regardless of whether you sell your home in winter, spring or any other season.

3. There is no shortage of real estate agents at your disposal.

Selling a house can be difficult, particularly if you try to list your residence and promote it to potential buyers by yourself. Thankfully, real estate agents are available in cities and towns nationwide, and these housing market experts are happy to assist you at any time.

For those who want to find a top real estate agent, selling a house before summer may be ideal. Real estate agents will do everything possible to showcase your residence to as many prospective buyers as possible in the weeks and days leading up to summer. As a result, you could reap the benefits of a successful home selling experience.

Let's not forget about the guidance that a real estate agent offers a home seller, either. A real estate agent will provide recommendations and suggestions as the home selling journey progresses. Thus, if you're unsure about how to price your house, a real estate agent will help you determine a competitive initial asking price. On the other hand, if you're uncertain about how to respond to an offer to purchase your home, a real estate agent will help you weigh a homebuying proposal's pros and cons.

Take the first step to list your residence before summer – contact a local real estate agent today, and you can receive comprehensive assistance throughout the home selling journey.




Categories: Uncategorized  




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