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Many people think that next to the winter holidays, the summer is the worst time to sell a home. I have to disagree! Just this weekend – a holiday weekend – I negotiated a contract on a Society Hill townhouse, fielded a call from another agent looking for comp information as she was negotiating a contract, and my partner Gerry and I both showed homes. There is a definite market out there. In fact since June 20th, there have been 14 contract sales in Basking Ridge.
A few years ago, I wrote about selling your home in the summer months - now I have some additional tips for you:
Summertime means barbecues, outdoor fun and lots of sunshine, flowers and greenery. The commonality among all of those rites of summer is that they draw attention to a home’s landscaping and outdoor spaces. Homeowners who are selling their home in the summer months should make an effort to highlight their home’s usable outdoor space.
In addition, sellers with their home on the market during the summer should keep these considerations in mind:
- “Stage” your backyard so that buyers can envision themselves relaxing and entertaining there. Power wash your deck or patio as well as your outdoor furniture, replace worn-out cushions and make sure to have a few simple outdoor accessories.
- A fully landscaped yard will save buyers time and money. Ensure your front and back yards appear maintained by trimming overgrown trees and shrubs, and making sure your lawn is manicured regularly.
- Inside, keep your home cool for showings and Open Houses. Setting the air conditioner to a comfortable level, or using fans and opening windows to let in a cool breeze, will help buyers focus on your home and not how warm they are.
- Guard against heat-related smells by emptying all garbage cans and fully cleaning your home before any showings, focusing specifically on bathrooms, laundry rooms and kitchens
These tips will help ensure that as potential buyers are considering their options, your home will outshine the competition!
Good Luck and have a safe and happy Fourth of July!
Whether you’re thinking of buying a home with an in-ground pool or toying with the idea of having one built, there are many important considerations to take into account. In addition to significant installation costs for those building a new pool, all homeowners with a pool will need to be mindful of ongoing maintenance expenses as well as insurance and tax implications.
If a swimming pool is in your future, here are some things to keep in mind:
- Installation costs for a 600-square-foot concrete pool average around $30,000. Less expensive options include fiberglass shells and pools with liners; however, pool liners need to be replaced approximately every 10 years, raising ongoing maintenance costs.
- Other equipment you will need to maintain your pool include an energy-efficient pump, chemical balancing supplies, cleaning, and fees for opening and closing the pool for the season. A rule of thumb is homeowners should budget around $600 annually for maintenance in a seasonal swimming climate and between $15 and $25 per week in a year-round climate.
- Homeowners with a pool should increase the liability portion of their homeowners insurance policy from the standard amount. In addition, many underwriters require you to fence in the pool so that children can’t wander in unsupervised.
- There is no guarantee that adding a pool will add to your home’s selling price. Experts advise keeping building costs between 10 percent and 15 percent of what you paid for the house to help assure you don’t invest too much money that you won’t necessarily recoup on resale.
When we bought our house, a pool was absolutely not on my wish list. However the house that we found that also had all of the things that were on my wishlist ALSO had an inground pool. I have not regretted that pool one day that we have been here. The kids love it, my husband loves it, and love that they love it! I haven’t found the costs to be insumountable – except when we had it resurfaced it. But that’s not something that happens often. We do our own maintenance, but last summer we hired someone to help us get over an algae issue.
I have some great people to recommend for service and inspections:
- Keith Willard is Advantage Pools: 908-996-1274 (I have personally used Keith’s service)
- Mike at Super Pools – 908-688-3535 (several Basking Ridge families have recommend that I put Mike on my list; I have not met him myself.)
- Steve Lippy – 201-424-0483 (several Basking Ridge families have recommend that I put Steve on my list; I have not met him myself.)
For a pool inspection when buying a house with a pool, I have had clients use Jeff Lagenbach – (973) 669-0734 – with Perferred Pool Inspections.
If you are considering a move into or out of Basking Ridge, it’s a great time to buy. Search homes for sale or take a look at what has sold here in town. I also cover neighboring Bedminster and Bernardsville as well as other surrounding areas.
Whether you’re doing some much-needed spring cleaning or de-cluttering in advance of selling your home, it is inevitable that you will wind up with many items that you’d like to get rid of. As they say, your trash may be someone else’s treasure, so think carefully before just throwing all of your unwanted items in the garbage.
There are many ways to give your stuff new life, and help the environment while you are at it. In fact, Consumer Reports recently provided suggestions to its readers looking to recycle larger household items.
- Many charities such as Habitat for Humanity, Goodwill and the Salvation Army will accept donations of appliances, furniture and other household items. Here in Basking Ridge the Commmunity Service Center does furniture pickups on Wednesday evenings and Saturday mornings. It’s really easy!
- A website called Earth911.com offers solutions for recycling a variety of items, such as mattresses, electronics, building materials, hazardous waste and more.
- The Yahoo group – Somerset Freecycle – is another avenue to donate stuff; it’s also a great place to find second hand items that you might not even know you need!
- If you don’t mind paying a small fee, services such as 1-800-Got-Junk will remove your “junk” and make sure it is recycled, donated or disposed of responsibly.
- There is a chance you can even earn some cash for the things you no longer want. Try listing items on Craigslist so local buyers can come to your home to pick up what they have purchased, saving you the hassle of shipping.
Only three properties closed here in town in the last week:
- 31 Countryside Drive – a one bedroom condo – listed for $197,000 closed for $1888,000
- 266 Potomac Drive – a two bedroom condo in Spring Ridge – listed for $248,500 sold for $232,500
- 3 Witherspoon Lane – a three bedroom town house in Amherst Mews listed for $849,000 closed for $825,000.
Several mortgage reps that I work with have published weekend specials – including a 30 Year fixed FHA at 5% (must have credit scores of at least 660).
If you are considering a move into or out of Basking Ridge, please contact me and so I can help get you started. Or click here to search homes for sale in Basking Ridge.
Is it summer yet?
The sun is out today – it might be cold, but let’s think ahead a few weeks…there is no better time than now to prepare for a season full of outdoor entertaining. An outdoor kitchen is one of the hottest trends in backyard living. Ranging from a simple barbecue island to a full kitchen with specialty appliances that allow homeowners to do all the food preparation outside, there are a variety of ways to create your own outdoor gathering spot.
Here are some things to consider when planning an outdoor kitchen:
- It is very important to choose appliances that are designed for outdoor use. For example, outdoor refrigerators need to maintain consistent temperatures in an unstable environment, and also need to be weatherproof so they hold up to the elements.
- It is equally important to ensure that there is adequate ventilation for appliances. For example, built-in refrigerators are front-vented so they require little to no clearance on the top, sides, and rear of the unit, but freestanding models require at least one inch of ventilation on all sides.
- Don’t forget to factor in additional costs for adding electrical outlets, and running a water supply line or a drain system.
- The safest bet is to select a licensed and insured installer. Not only will they be aware of any do’s and don’ts, you will also have peace of mind knowing that you are working with professionals who will stand behind their work if something goes wrong.
Looking for something fun to do tonight?
The William Annin School production of Disney’s Camp Rock is this weekend. I understand that there are still tickets available at the door!
Weichert sent out a communication yesterday that we can share with our sellers to help increase the chances that their home will sell. I’m not posting it in it’s entirety becauase I’ve covered that information so frequently here on the blog. But, I do want to repeat the fact that it’s the little things that matter…so, if you are planning to put your house on the market and you don’t want to do a lot of prep, please at least remember the small stuff: Review all parts of your home for areas that require minor repair. Small things such as peeling paint, a dirty lightswitch cover or a leaky faucet are usually easy and inexpensive to fix, yet help make buyers feel your home is well cared for.
If you’re looking to make major fixes, kitchen and bathroom updates tend to be the most valuable. You can also review the updates and modifications that will get you the best bang for your buck.
What’s available for sale in Basking Ridge? What has recently sold in Basking Ridge? Contact Jennifer Blanchard for more information on the market in Basking Ridge.
It’s February - and tomorrow is Ground Hog Day!! I have a feeling that the little guy is NOT going to see his shadow. Let’s just hope he doesn’t break his back when he climbs out of his hole and slips on all of this ICE!
I am gearing up for a busy spring market. While absorption rates are sort of high, I KNOW there are buyers out there waiting for new listings. My partners and I have buyers looking in several price ranges – we were out looking at Bedminster condos this weekend as well as townhomes in the Barons. We showed several center hall colonials last week and I have had several calls for Society Hill townhouses.
My message here is – if you are considering putting your house on the market, there isn’t any reason to wait until the snow melts!! I am confident that if a new colonial came on the market this week, I’d be first in line to show it to my qualified buyers!
Do you need help deciding when to list? Or what pricing stratgey to use? Contact me and we can talk through the details. I can help you understand the value of your home in today’s market.
Be careful out there tonight and tomorrow, it’s going to be slippery!
According to Remodeling magazine’s 2010-2011 “Cost vs. Value Report,” even despite the challenging economy, investing in your home still pays off at resale – and it doesn’t have to cost a lot. The report also showed that home sellers consider first impressions to be a top priority, with nine out of the top 13 projects being exterior replacements that contribute to curb appeal and help attract buyers.
Based on interviews with real estate professionals throughout the country, the Remodeling report found that the top two projects were also the least expensive. A mid-range entry door replacement returns more than 102.1 percent of project costs upon resale, followed by a mid-range garage door replacement, at 83 percent.
While considered upscale, the third-best project, fiber-cement siding replacement, has been a consistently high erformer, recouping 80 percent of costs this year, and also showing the smallest cost increase of any project (less
than 1 percent).
The right remodeling project, when done well, also has the potential to make for a quicker sale and reduce negotiations with buyers over perceived shortcomings. Click here to access the “Cost vs. Value” website, where you can download data for 80 cities.
Some additional numbers for those of you who are wondering about that kitchen and baths – - a minor kitchen remodel (refacing cabinets, changing out hardware, replacing oven and cooktop, changing countertops, painting trim and refreshing the floor) returns almost 73%. The addition of a deck also returns about 73%.
Surprisingly, according to this study a bathroom renovation returns only about 53%.
Please note that these numbers are based on national averages. I will admit that I have a hard time getting my head around these numbers – - I think there are too many variables… but I suppose that it’s all relative. Projects that improve first impressions allow the biggest bang for the buck and kitchens are more valuable that bathrooms.
Visit Basking Ridge Real Estate to see what’s selling in town – new kitchens and bathrooms or not!
I was hanging out on Trulia Voices again this morning and came across a question posted by Nancy in Little Rock. Nancy wanted to know “What is the first thing sellers should do prior to listing their home for sale” Nancy recieved 27 answers to her question – - but I thought the BEST answer came from a homeowner in New Orleans, NOT a realtor. I am repeating her answer here word for word (bold and italics are my additions) as I think it dovetails perfectly with the article I posted on Patch yesterday.
Louise replies:
“I’m a seller, and I already knew a terrific agent that I had worked with before. I got rid of half my furniture, boxed up all the clutter (having watched HGTV), and then went to see him because I *thought* I was ready. I wasn’t..
He came over to see the house, so that he could get realistic comps for me. After he saw what he was dealing with, he told me that the wallpaper (ALL over the house) would not be popular among buyers here and he suggested that all of it should go. While he said he was no good “at this decorating stuff”, he also said he had heard that painting in neutral earth tones seemed to help. He also noticed some repairs that needed to be done and said the house should be in perfect repair. And finally I already knew I had to recarpet the whole house, since the carpet was wildly colored and not neutral, stained, and over ten years old. He said that my curb appeal was great already so I didn’t work on that so much.
It took me a couple of months and over $9K to have workers get rid of all the wallpaper, paint in neutral earth tones, get a new neutral carpet throughout, and get all the repairs done and have a handyman search for other repairs (like kitchen draws that stick, and doors that are hard to shut, a ceiling fan that wasn’t actually working, and a million other little things that I hadn’t noticed because I was used to them) and fix them.
The house looks 100% better and it is a joy to live in. Who knew? LOL I should have done this years ago. Anyway I’m glad I did it before listing because the competition here for buyer interest is fierce. After the work was done my realtor came back, took a look, and got some new, realistic comps for me and the next day we listed the house.
It may or may not be advisable to do all of this in your location with your particular housing market. But my point is, your realtor knows what sells and you need to line up a realtor that you want to use, get him over to your house, and listen to any suggestions he may have.“
I love that Louise was receptive to her realtor’s advice; that she was able to step out of the box and look at the house as if she was the next owner and to understand that her taste may not be universal. I’m willing to bet that she makes up that $9,000 investment with a contract price that is above what it would have been had she not neutralized and fixed the hidden defects (no matter how small).
Kudos to Louise! Best of luck with your move!
If you are considering a sale, I am more than happy to be your Louise! Let’s take a walk through your house and figure out what needs to be done. I will make recommmendations and show you the comps – before and after the changes that we discuss. We’ll decide together which repairs or improvements make sense and then I will show you the value of your home and together we will get it sold.
This morning my latest article was posted over at Basking Ridge Patch. I think the key points are the bullets in the middle of the article – it’s not easy to sell a house in today’s market. I do whatever I can to increase the chances that your home will sell but I need some help… so, take a minute to review the points and then click here so I can help you determine the value of your home in today’s market.
- Price your house right. Houses that are priced right sell within 30 days. In August, I wrote about the Multiple Listing Search research I did to support that statement. I still believe it’s true. And buyers need to realize that a house that’s priced right will sell. It might even spark competition among potential buyers — even in today’s market and especially in a desirable neighborhood such as Basking Ridge.
- Ensure that first impressions are perfect. This is critical — it’s critical that your photos are perfect and show a realistic picture of the home. And it’s critical that whatever the buyer sees first when he or she walks into the home, or even drives up the driveway and walks up the walk, there isn’t something that might cause a buyer to stop and think, “Hey, what else is wrong?” A buyer makes a decision to consider a home (not whether to buy it, but whether it makes the potential list at all) within the first few minutes of being there. Make that first impression count.
- Be flexible with showings. Don’t make it hard for a buyer to see your home. I understand that you still live there and that it’s hard to keep it neat and to skedaddle at the whim of every buyer…but you never know who is going to be “the one.”
- Keep the house clean and clutter free. And make sure it smells nice and is brightly lit. Some buyers can see past these things — but why take the chance?
- Neutralize décor. Remember, you are selling a house that will be someone’s home. You want to keep the pool of potential buyers as large as possible. Why allow the right buyer to rule out your home because they don’t like the wallpaper?
The hardest thing to do is to step out of your role of homeowner and put yourself into the role of the buyer. Walk through your house as if you don’t live there.
Try to think about it this way – you aren’t selling your home, you are selling a house that is going to be someone else’s home. I do not subscribe to the theory that you have to remove all personal belongings. I don’t like to show homes that are completely sterile, but I do believe that people need to be able to see themselves in the home! And that might mean that you need to change some things in ways that you won’t be comfortable with.
Contact me, I will try to make it easy!
Many families have started decorating for the holidays. Sellers with their home on the market during the holiday season shouldn’t feel the need to give up their holiday traditions. In fact, sellers should not forgo decorating their home for the holiday. People expect at least some decorations, plus they add warmth to a home.
The key is to decorate in a way that won’t turn off buyers, and the following tips will help sellers strike a good balance:
- Too many decorations mask a home’s selling points: architectural details, condition, location and price.
- Avoid too many personalized decorations. The goal is for buyers to visualize themselves celebrating the holidays in the home.
- Choose an elegant, neutral palette of fresh greens, silvers, golds and classic whites. Avoid too much red and green.
- Take down decorations within two weeks after the holidays
Happy Holidays
If you are considering a move into or out of Basking Ridge – now might be a good time to start looking into searching for a home! Review what has sold in Basking Ridge or contact me to make an appointment to discuss the market.