Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com Rochester Real Estate | LOCAL Homes For Sale | Homes for sale in Rochester, NY, LOCAL Rochester real estate listings, market data, REALTOR® info, and high quality content updated every 15 minutes! Wed, 25 Jun 2025 11:50:30 +0000 hourly 1 https://wordpress.org/?v=6.7.2 https://www.rochesterrealestateblog.com/wp-content/uploads/2016/11/cropped-SITE-LOGO-512-x-512-1-32x32.png Top 10 Challenges When Selling A Home – Rochester Real Estate | LOCAL Homes For Sale https://www.rochesterrealestateblog.com 32 32 June Home Maintenance Checklist: 40+ Must-Do Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/june-home-maintenance-checklist-summer-prep/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20501 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> May Home Maintenance Checklist: 30 Essential Tasks to Prepare Your Home for Summer https://www.rochesterrealestateblog.com/may-home-maintenance-checklist/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20484 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> April Home Maintenance Checklist: How To Prepare Your Rochester NY Home For Spring https://www.rochesterrealestateblog.com/april-home-maintenance-checklist/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20364 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> March Home Maintenance Checklist: Get Your New York Home Ready for Spring https://www.rochesterrealestateblog.com/march-home-maintenance-checklist/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=20338 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Buy a House in New York https://www.rochesterrealestateblog.com/buy-a-house-in-new-york/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19906 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Sell a House in New York https://www.rochesterrealestateblog.com/sell-a-house-in-new-york/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19905 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Risks of Buying a Non-Warrantable Condo In New York: What You Need to Know https://www.rochesterrealestateblog.com/non-warrantable-condo/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19796 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Builders Should Know About Spec Construction Loans In New York https://www.rochesterrealestateblog.com/builders-spec-construction-loans/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19795 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Moving To The Finger Lakes Region Of New York | Guide To Relocating To The Finger Lakes https://www.rochesterrealestateblog.com/moving-to-the-finger-lakes-region/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19875 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Navigating the Numbers: The Pros and Cons of Using Online Home Value Estimators For New York Real Estate https://www.rochesterrealestateblog.com/pros-cons-online-home-value-estimators/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19794 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Role of Location in Home Valuation In New York https://www.rochesterrealestateblog.com/role-of-location-home-valuation/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19768 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Lowe’s vs U-Haul: A Review of Truck Rental Companies https://www.rochesterrealestateblog.com/lowes-vs-uhaul/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19758 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Understanding the Importance of a Seller’s Property Condition Disclosure https://www.rochesterrealestateblog.com/property-condition-disclosure-statement/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19632 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What are Delayed Showings and Negotiations in Real Estate In New York? https://www.rochesterrealestateblog.com/delayed-showings-negotiations/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19547 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 8 Viable Tactics to Selling Your Home and Moving Out of State https://www.rochesterrealestateblog.com/selling-home-moving-out-of-state/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19542 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Unconventional Methods for Selling a House: Thinking Outside the Box https://www.rochesterrealestateblog.com/unconventional-methods-for-selling-a-house/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19519 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Sell My House Off Market: Pros and Cons Explained https://www.rochesterrealestateblog.com/sell-house-off-market/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19503 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What is PITI and How Does It Affect Your Mortgage https://www.rochesterrealestateblog.com/what-is-piti/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19498 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Set A Home Renovation Budget https://www.rochesterrealestateblog.com/home-renovation-budget/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19490 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Does A Co-Borrowers Credit Scores Affect A Home Purchase? https://www.rochesterrealestateblog.com/co-borrower-credit-score/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19474 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> New Construction Final Walk-Through Checklist: Ensuring a Seamless Home Inspection https://www.rochesterrealestateblog.com/new-construction-final-walk-through/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19458 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Essential Tips for Pumping a Septic Tank: What You Need to Know https://www.rochesterrealestateblog.com/pumping-a-septic-tank/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19450 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Can You Submit Multiple Offers On Homes At Once – A Legal And Ethical Analysis https://www.rochesterrealestateblog.com/multiple-offers-on-homes-at-once/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19414 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Get Your Home Photo Ready for Real Estate Listings https://www.rochesterrealestateblog.com/real-estate-photo-ready/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19409 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does a Home Builder’s Warranty Cover? https://www.rochesterrealestateblog.com/home-builders-warranty/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19394 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> July 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/july-2023-rochester-ny-real-estate-market-update/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19403 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Who Pays Real Estate Commission When You Buy or Sell a Home https://www.rochesterrealestateblog.com/real-estate-commission/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19366 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Quitclaim Deeds: What You Need to Know https://www.rochesterrealestateblog.com/quitclaim-deeds/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19358 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Know About Selling a Home As Is for Cash https://www.rochesterrealestateblog.com/selling-home-as-is-cash/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19347 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Know if My House Has Paranormal Activity https://www.rochesterrealestateblog.com/is-my-house-haunted/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19342 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Why Find The History of a House https://www.rochesterrealestateblog.com/find-history-house/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19316 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> June 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/june-2023-rochester-ny-area-real-estate-market-update/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19313 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does a Real Estate Lawyer Do? https://www.rochesterrealestateblog.com/real-estate-lawyer/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19181 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> May 2023 Greater Rochester NY Area Real Estate Market Update https://www.rochesterrealestateblog.com/may-2023-rochester-ny-area-real-estate-market-update/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19162 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Know About Buying a Home For The First Time https://www.rochesterrealestateblog.com/buying-home-first-time/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=19058 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> <strong>What Should a Buyer Look For at a Home Inspection?</strong> https://www.rochesterrealestateblog.com/what-look-for-home-inspection/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18983 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Companies That Buy Houses For Cash Reviewed https://www.rochesterrealestateblog.com/companies-buy-houses-for-cash/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18889 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Does Home Staging Work and What is The Cost? https://www.rochesterrealestateblog.com/does-home-staging-work/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18814 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What to Avoid When Getting a Mortgage https://www.rochesterrealestateblog.com/avoid-when-getting-mortgage/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18797 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> <strong>5 Options For Replacing a Roof Reviewed</strong> https://www.rochesterrealestateblog.com/replacing-roof/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18771 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are Restrictive Covenants in Real Estate? https://www.rochesterrealestateblog.com/restrictive-covenants/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18714 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Can The Court Force The Sale of Your House in Divorce? https://www.rochesterrealestateblog.com/court-force-sale-divorce/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18693 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Real Estate Agent vs. Broker: What&#8217;s The Difference? https://www.rochesterrealestateblog.com/real-estate-agent-vs-broker/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18650 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Determine Square Feet In Your House For More Accurate Property Estimates https://www.rochesterrealestateblog.com/determine-square-feet/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18167 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 3 Things That Often Results in a Real Estate Agent Getting Sued https://www.rochesterrealestateblog.com/real-estate-agent-sued/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18133 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Top 5 Types Of Home Inspections Buyers Should Consider https://www.rochesterrealestateblog.com/5-types-home-inspections/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18119 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Pros And Cons Of Rent To Own Homes: What You Need To Know https://www.rochesterrealestateblog.com/pros-cons-rent-own-homes/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18104 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Smart Things To Do Before Moving That Will Help Ease Your Transition https://www.rochesterrealestateblog.com/things-before-moving/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18084 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Become a Real Estate Agent https://www.rochesterrealestateblog.com/become-real-estate-agent/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=18071 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Renting A House Or An Apartment: Which Is The Better Option https://www.rochesterrealestateblog.com/renting-house-apartment/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17871 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The 5 Most Important Factors To Consider When Buying A House https://www.rochesterrealestateblog.com/5-factors-buying-house/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17851 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Buyers And Sellers Need To Know About An Appraisal Gap https://www.rochesterrealestateblog.com/appraisal-gap/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17827 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Pros And Cons Of Renting With Roommates – What You Need To Know https://www.rochesterrealestateblog.com/renting-with-roommates/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17794 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 6 Things You Should Know About Buying Land https://www.rochesterrealestateblog.com/things-know-buying-land/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17773 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Long Should Home Sellers Wait To Respond To An Offer On Their Home? https://www.rochesterrealestateblog.com/home-sellers-wait-respond-offer/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=17745 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Buy A House With A Low Credit Score https://www.rochesterrealestateblog.com/how-to-buy-a-house-with-a-low-credit-score/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16819 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Things To Consider When Shipping A Car https://www.rochesterrealestateblog.com/things-to-consider-when-shipping-a-car/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16248 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Home Depot Truck Rentals: What to Know Including Pricing https://www.rochesterrealestateblog.com/home-depot-truck-rentals-what-to-know-including-pricing/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16156 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 16 Things To Do Before Listing Your Home For Sale https://www.rochesterrealestateblog.com/16-things-to-do-before-listing-your-home-for-sale/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16138 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Biggest Home Inspection Mistakes to Avoid https://www.rochesterrealestateblog.com/biggest-home-inspection-mistakes-to-avoid/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16112 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Your Credit Score Impacts Your Ability To Buy A House https://www.rochesterrealestateblog.com/how-credit-score-impacts-buying-house/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16086 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Winter Home Selling Mistakes | 7 Errors Made While Selling A House During The Winter https://www.rochesterrealestateblog.com/top-winter-home-selling-mistakes/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16051 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Winter Home Buying Mistakes | 11 Errors Made While Buying A House During The Winter https://www.rochesterrealestateblog.com/winter-home-buying-mistakes/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=16013 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Address Change Form Should I Use At The Post Office? https://www.rochesterrealestateblog.com/address-change-form-post-office/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15981 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Does Contingent Status Mean in Real Estate? https://www.rochesterrealestateblog.com/what-does-contingent-status-mean-real-estate/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15956 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> DIY Renovation Ideas For Your Backyard https://www.rochesterrealestateblog.com/diy-renovation-ideas-backyard/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15937 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Rent Your First Apartment Guide https://www.rochesterrealestateblog.com/how-to-rent-an-apartment/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15931 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Tips For Selling A Home Virtually https://www.rochesterrealestateblog.com/tips-selling-a-home-virtually/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15907 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Complete Winter Storage Checklist For Your Belongings https://www.rochesterrealestateblog.com/winter-storage-checklist/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15885 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Waive My Home Inspection When Buying A House? https://www.rochesterrealestateblog.com/should-i-waive-my-home-inspection/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15870 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Biggest Self Storage Companies Reviewed https://www.rochesterrealestateblog.com/biggest-self-storage-companies/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15836 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Earnest Money and House Deposits Explained https://www.rochesterrealestateblog.com/earnest-money-house-deposits-explained/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15760 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Moving Mistakes To Avoid https://www.rochesterrealestateblog.com/moving-mistakes-to-avoid/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15568 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Mortgage Myths | Demystifying Common Home Loan Misconceptions https://www.rochesterrealestateblog.com/top-mortgage-myths/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=15102 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> First-Time Home Buyer Mistakes to Avoid https://www.rochesterrealestateblog.com/first-time-home-buyer-mistakes/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14815 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 10 Tips For Adding Appeal To Your Home This Summer https://www.rochesterrealestateblog.com/10-tips-adding-appeal-to-home-this-summer/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=14237 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Exploring The Merits of Smart Home Technology When Selling a Home https://www.rochesterrealestateblog.com/smart-home-technology-selling-a-home/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13782 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top Frequently Asked Questions From Home Sellers https://www.rochesterrealestateblog.com/top-frequently-asked-questions-home-sellers/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2424 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> First Time Home Buyer Programs In Rochester NY &#8211; Updated January 2025 https://www.rochesterrealestateblog.com/first-time-home-buyer-programs/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock http://rochesterrealestateblog.com/?p=580 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How New Doors &#038; Windows Can Boost Your Home Value https://www.rochesterrealestateblog.com/how-new-doors-windows-boost-your-home-value/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13643 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top 5 Things To Know When Flipping Your First House https://www.rochesterrealestateblog.com/5-things-to-know-when-flipping-your-first-house/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13574 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are The Best Mortgage Options for Self Employed Borrowers? https://www.rochesterrealestateblog.com/mortgage-options-for-self-employed-borrowers/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13450 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Top 10 Best Places To See Christmas Lights In Rochester NY https://www.rochesterrealestateblog.com/top-10-best-places-see-christmas-lights-rochester-ny/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=10236 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Are The PROs And CONs Of Multifamily Homes? https://www.rochesterrealestateblog.com/what-are-the-pros-and-cons-of-multifamily-homes/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13219 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> What Low-Cost Home Improvements Should You Make Before Selling Your Home? https://www.rochesterrealestateblog.com/low-cost-home-improvements-you-should-make-before-selling-your-home/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13114 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 15 Things Millennial Home Buyers Look At While Buying A House https://www.rochesterrealestateblog.com/15-things-millennial-home-buyers-look-at-while-buying-a-house/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=13028 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How Does A Fence Increase The Value Of Your Home https://www.rochesterrealestateblog.com/how-does-a-fence-increase-the-value-of-your-home/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12995 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Simple &#038; Low Cost Fixes To Make Your Home More Appealing To Buyers https://www.rochesterrealestateblog.com/5-simple-and-low-cost-fixes-to-make-your-home-more-appealing-to-buyers/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12779 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How To Improve A Homes Curb Appeal In Rochester NY https://www.rochesterrealestateblog.com/how-to-improve-a-homes-curb-appeal-rochester-ny/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12665 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 7 Ways to Create an Energy-Efficient Home While Conserving Your Budget https://www.rochesterrealestateblog.com/7-ways-create-an-energy-efficient-home/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12633 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Hiring Movers Vs. Moving Yourself | The PROs &#038; CONs Of Each https://www.rochesterrealestateblog.com/hiring-movers-vs-moving-yourself/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12592 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should You Pay Off Student Loans Before Purchasing a Home? https://www.rochesterrealestateblog.com/pay-off-student-loans-before-purchasing-a-home/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12531 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Should I Build A New Home Or Buy An Existing Home? https://www.rochesterrealestateblog.com/should-i-build-a-new-home-or-buy-an-existing-home/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=2497 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> Buying A Condo Vs. Renting A Condo | What Are The PROs &#038; CONs? https://www.rochesterrealestateblog.com/buying-a-condo-vs-renting-a-condo/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12402 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 9 Money Saving Moving Tips | How To Cut Costs When Moving https://www.rochesterrealestateblog.com/9-money-saving-moving-tips/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12341 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> How to Create a Proper Home Maintenance Checklist https://www.rochesterrealestateblog.com/how-to-create-a-proper-home-maintenance-checklist/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12300 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> 5 Tips For Tenant Screening | How To Weed Out Bad Tenant Applicants https://www.rochesterrealestateblog.com/tips-for-tenant-screening/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12291 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Social Media Blogs For Real Estate From 2017 https://www.rochesterrealestateblog.com/best-social-media-blogs-2017/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12045 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Home Improvement Blogs From 2017 | Advice For Home Remodeling https://www.rochesterrealestateblog.com/best-home-improvement-blogs-2017/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12044 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]> The Best Mortgage Blogs From 2017 | Advice For Home Financing https://www.rochesterrealestateblog.com/best-mortgage-blogs-2017/ Tue, 10 Feb 2015 12:00:01 +0000 Kyle Hiscock https://www.rochesterrealestateblog.com/?p=12043 Top 10 Challenges When Selling A Home[/caption] One of the greatest things about being a real estate agent is the fact that no two transactions are the same.  This means that every day there are different things that arise with different transactions which makes it virtually impossible that a "dull" day exists in the real estate profession.  While this is one of the greatest things about being a real estate agent, that does not mean this is great for buyers and sellers. The fact is that because no two transactions are the same, there are different challenges that must be overcome.  When selling a home, there are many different challenges that can arise throughout the transaction and even before you've listed your home for sale.  There are many challenges when selling a home that are more common than others.  Challenges such as handling unrealistic home buyers and handling the emotions of selling a home are just a couple of the top challenges. Below are the top 10 challenges that home owners face when selling their home. Local Market Conditions Before you have signed an agreement with a local real estate broker or decided to sell your home "by owner" there are challenges that need to be overcome.  The local real estate market conditions can play a huge role in whether a home sells or not.  Before deciding to sell your home there are many local real estate market challenges that you should consider. Buyer's Market, Seller's Market, or Neither? Most have heard the terms "buyer's market" or "seller's market."  If not, a buyer's real estate market is one in which the home buyer's who are in the marketplace have an advantage over the seller's.  A seller's real estate market is the opposite. When selling a home, you should know what type of real estate market place exists in your area.  If your local real estate market is flooded with listings, also known as your competition, the probability is that your area is experiencing a buyer's market.  This gives the home buyers in the market place the opportunity to be more selective of the homes they want to look at which means there is a greater probability that your home will not be looked at.  This obviously is not the goal when selling a home. The possibility also exists that neither a buyer's or seller's market exists.  This is when the supply and demand for housing is relatively balanced with one another.  This means there are a good amount of homes available for sale and also a good amount of buyer's in the marketplace. Time Of Year Every local real estate market is different.  The time of the year when a home is listed can make a huge difference.  When investigating the local market conditions, the time of the year you decide to sell your home is one challenge that needs to be overcome. For example, generally speaking, the best time of the year to sell a home in the Webster, NY real estate market are the spring months (March, April, and May).  While the spring months maybe best for the Webster NY real estate market, these same months could be a poor time to sell a home in other states and real estate markets. The challenge of deciding when the best time to sell your home is one that is greatly impacted by your local real estate market.  There are some situations that exist where it maybe the best to sell your home during the fall and winter months and not wait until spring.  Bottom line, a challenge you may face when selling a home is your local real estate market. Handling Emotions If you didn't know that selling a home can be emotional, now you've been forewarned.  There are many emotions that can come with selling a home.  Excitement, uncertainty, nervousness, and stress are just a handful of emotions that challenge home owners when selling a home. Knowing how to handle the many emotions that come with selling a home is one of the top 10 challenges that you will need to overcome.  One tip to handling emotions when selling a home is that you are certain that you truly want to sell your home.  It isn't uncommon for a home owner to have seller's remorse when selling their home.  It's important to keep in mind when selling a home that it's a business decision and that keeping emotions out of any decisions is for the best. [caption id="attachment_2404" align="alignright" width="450"]Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home Choosing a Realtor and correctly pricing a home are two of the top 10 challenges faced when selling a home[/caption] Choosing A Realtor In every real estate market there are hundreds or thousands of real estate agents.  A challenge that home owners face when selling their home is choosing a Realtor.  In every real estate market there are lots of real estate agents who are average, some that are terrible, and usually only a handful of top real estate agents.  In many real estate markets the statistic is that 85-90% of the business is done by 10-15% of the real estate agents.  That is a lot of business being done by a small number of professionals. So how can you overcome the challenge of choosing a top Realtor when selling a home?  One of the most important things you are educated on before choosing a Realtor are the common mistakes that seller's make when choosing a Realtor.  Knowing the importance of avoiding a "YES" man/woman, not choosing a Realtor who offers to list your home for the most amount of money, or because the real estate agent claims they will sell your home because of an open house is very important in the process of overcoming the challenge of choosing a Realtor. Another key to help overcome the challenge of choosing a Realtor who is a superstar is knowing how to properly interview prospective agents.  The fact is that some seller's will skip this step all together, which can truly be a mistake.  There are other home owners who do not know how to interview a Realtor when selling a home.  If you're properly educated on how to interview prospective Realtors when selling your home, this home selling challenge will be an easy one to overcome. Choosing a Realtor who is a "dud" can make the home selling process a monumental task.  Choosing a top notch Realtor and taking their advice and guidance can make the other 9 challenges seem extremely easy to overcome and may not be challenges at all throughout the home selling process. Pricing The Home Pricing real estate is a science that takes experience and practice to "master," even though it never can be truly "mastered."  Unfortunately when selling a home there is no crystal ball that can tell you what your home will sell for.  The pricing of a home is one of the challenges many home owners face when selling. Overpricing a home can lead to some devastating consequences.  The price that a home enters the market at is very important.  A home that is overpriced when entering the market generally will not receive many inquiries and/or showings.  The longer a home sits on the market the more and more a buyer begins to wonder what is wrong with the home.  There maybe nothing wrong with the home, but a home that lingers on the market begins to obtain a "stigma" that something is wrong with it. A home that is priced right from the beginning should get lots of activity and showings the first week or two it has been listed and possibly sold in that time frame as well.  Every home owner will face the challenge of pricing their home for sale.  Choosing a top Realtor who has experience and a strong record of success when it comes to pricing homes can make this challenge less strenuous. Getting The Home Ready To Sell A challenge the home owners face when selling their home is preparing it for sale.  There are many things that come to mind when getting a home ready to sell.  Depending on the condition of a home and the desire of the home owner, there maybe some items that need to be repaired or fixed prior to listing a home.  Just a few common items that home owners repair or fix prior to selling their home include peeling paint, roof leaks, and plumbing issues. Another challenge for home owners face when getting their home ready for sale is whether they should remodel or just move.  There are certain projects, like a $20,000 kitchen remodel that wouldn't make much sense to complete if you're planning on selling in a few months.  There are certain projects though that sometimes may make sense to complete prior to selling such as freshly painting the interior or exterior, swapping out some outdated light fixtures, or removing wallpaper.  These cheap, quick, and easy "improvements" can really make a home look better to potential buyers and possibly lead to a quicker sale. Nobody enjoys a foul odor, period.  Foul odors do challenge some home owners however.  When getting a home ready to sell it's important that you address any foul odors in your home.  One of the best ways to identify a foul odor is by asking the opinion of someone who is going to give an non-bias evaluation.  It's very common that a smoke odor or pet odor can deter a potential buyer from purchasing a home. [caption id="attachment_2408" align="alignleft" width="450"]Maintaining A Show-Ready Home Can Be Challenging Maintaining A "Show-Ready" Home Can Be Challenging[/caption] Maintaining A "Show Ready" Home Ask anyone who has recently sold their home if they enjoyed keeping their home in "show ready" condition.  The answer is going to be NO!  Preparing a home for showings is a time consuming project and is a challenge for any home owner who is selling their home.  Tasks such as keeping the rooms de-cluttered or making sure the counter tops are clean may seem easy, but after weeks of having to do so, it can really wear down a home owner. In addition to keeping the home de-cluttered and counter tops clean, many homes are staged to help minimize the time on the market.  The staging of a home in many cases can mean removing many items that you may use on a daily basis.  For example, that lounging recliner you like to read your favorite book in may now be in storage so that the living room space is maximized.  After a while this can be very annoying and frustrating. Unrealistic Home Buyers A top challenge that home owners face when selling a home are unrealistic home buyers.  There are many ways that today's home buyers are unrealistic and why it is such a common challenge that home seller's face.  The most common scenario where a potential buyer is being unrealistic has to do with the offering price.  There are many potential buyers in the marketplace, whether a home is priced right or not, will want to offer a home owner significantly less than their home is worth.  Dealing with low ball offers is one of the top challenges seller's face when selling their home. Another challenge seller's face when it comes to unrealistic buyers relates to the condition of a home.  There are many buyer's who not only want to submit low ball offers but they also want the home to be in mint condition.  Many of today's buyers aren't interested in doing any work to the home they purchase.  This includes light cosmetic updating such as painting rooms and replacing carpeting.  This can be very frustrating to seller who prices their home to reflect the need of some minor cosmetic updating. "Passing" Inspections A frequently asked question from home buyers is whether or not they are able to have inspections on the home they are looking to purchase.  Buyer's are entitled to the opportunity to have many different types of inspections such as home inspections, pest inspections, or radon tests.  A top challenge that home seller's face is "passing" these inspections. When it comes to a home inspection, there are no guidelines to whether a home "passes" or "fails."  The buyer is the one who decides whether a home "passes" the inspections or not.  The reasons this is a challenge that home owners face when selling their home is because every buyer has a different opinion on what constitutes an acceptable or "passing" inspection.  Some buyer's will be alarmed because of a "double-tapped" circuit in the electrical box and others will not.  While this one example is a quick and inexpensive fix, there are some buyer's who will get scared off by a simple fix such as a "double-tap." One great way to overcome the challenge of a "passing" inspection is by having a pre-listing inspection.  Having a pre-listing inspection is only one thing that a seller should consider before listing their home for sale.  This gives a seller the opportunity to correct the items that a home inspector finds and can eliminate alarming the potential buyer of their home. Receiving A Satisfactory Bank Appraisal Depending on the financing a buyer will be utilizing to purchase a home, receiving a satisfactory bank appraisal maybe a challenge to overcome when selling a home.  Certainly if the buyer is purchasing a home with cash, this challenge will not exist. If the buyer is obtaining a mortgage from a lender, the bank must complete their appraisal of the home.  The bank appraisal not only can make a seller nervous but also the buyer and all parties involved in the transaction.  A satisfactory bank appraisal is one in which the appraiser is able to substantiate that the agreed upon purchase price between the buyer and seller of the home is in-line with the market value of the home. If the bank determines that the home's value is less than the agreed upon purchase price, this can create problems.  The necessity for a satisfactory appraisal is yet another reason why the pricing of a home is extremely important.  If the bank cannot determine the purchase price is in-line with the value, they are not going to lend the buyer more money than the home is worth. Closing The Deal Once all the above 9 challenges are overcome, closing the deal should seem pretty easy, right?  Wrong.  There are many things that can de-rail a real estate closing. A common issues that can happen prior to the closing is a buyer getting disapproved.  There are many things that a buyer can potentially do that can accidentally disapprove their mortgage.  While this is completely out of the seller's hands, it is still a possible challenge that must be overcome when selling a home. Other potential challenges other than a buyer getting disapproved for their mortgage can include items such as title problems or problems discovered from the instrument survey. Final Thoughts By having the knowledge that challenges will exist when selling a home can make a world of difference.  While many of the top challenges when selling a home are out of the home owners control, many of them are in their complete control.  The above top 10 challenges are the most common that you can expect, but remember that no two real estate transactions are the same, so it's possible others may arise. Other Home Selling Resources Are you thinking of selling your Rochester, NY home?  These 10 challenges are ones that have a greater probability of arising during the sale.  Knowing what to expect during the sale of your home is critical.  I'd love to share my expertise and knowledge on how to overcome these 10 challenges with you.  Contact me so we can discuss these possible challenges to selling your Rochester, NY home as well as any others that you can possibly expect.
Subscribe To Our Blog (it's FREE) & You'll Receive All The Top Real Estate Tips, Trends, News, and More in your e-mail inbox!: Delivered by FeedBurner
About the authors:  The above article "Top 10 Challenges When Selling a Home" was provided by the Keith Hiscock Sold Team (Keith & Kyle Hiscock).  With over 30 years combined experience, if you’re thinking of selling or buying, we’d love to share our knowledge and expertise. We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton, Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush, Honeoye Falls, Chili, and Victor NY. Visit our website at www.HiscockHomes.com.]]>