Tips for selling your home!

1. Declutter/Depersonalize/accessorize. First things first: Remove all clutter! Yes, 214 baby toys are clutter, as are cat and or dog toys, books, magazines, papers, refrigerator magnets, unfolded laundry. You get my point. You want your house in the best shape to sell it fast, so make it look organized and clean. Remove the personal pictures in your home and clean out your closets to make them appear larger. If you need to, start packing away your seasonal clothes. Now is the perfect time to clean out those closets and donate unwanted items to those who really need them. Once you have removed all the clutter you may think your house looks empty. A few well placed accessories (Odd numbers are preferable) will do wonders. When decorating, imagine a triangle and place objects at each point.

2. Create curb appeal- the outside of your home is the first thing a potential buyer will see, so make sure it's in tip top shape. Mow the lawn, hose down the walk ways, remove any cobwebs, clean the front door. To add a little wow factor, plant some flowers and purchase a new welcome mat.

3. Fix it up and Clean it up- make any repairs you have been putting off, as well as recaulking the shower areas and replacing any burnt out light bulbs (for the best lighting effect replace bulbs with at least 60 watt bulbs) don't forget to fill in any nail holes, wipe down the windowsills, clean the over (yes, they will look), bleach sinks and bathtubs, dust the blinds, clean the windows and last, but one never to forget...always make the beds before you leave.

4. Fresh up- let some air in. Open the windows for at least 10 minutes to eliminate any stuffiness. Cut up a lemon and run it through the garbage disposal to freshen up the kitchen, and add bleach to all the toilets. Invest in a scent burner and chose a scent like chocolate chip cookies or fresh apples, it will entice buyers.

5. Let there be light! Open the drapes and blinds and let the sun shine in. If you have a particularly dark room, purchase a floor lamp that will bounce light off the ceiling.

6. Bring the outside in- grab your garden sheers and go to town. Clip fresh cut flowers, twigs, fern stems, dried leaves, hand picked fruit, you name it. You will be amazed at how fresh and clean your house looks (and smells) by utilizing what you have in your own backyard.

7. Play that funky music- playing soft jazz can help create a soothing environment and camouflage neighbor and traffic noise.

8. Create groupies- a common misconception is that a room looks bigger if all the furniture is pushed up against the walls. To create a more inviting space, float the furniture away from the walls and create a cozy conversation area.

9. Be Switzerland- keep it neutral. Painting a room a fresh neutral color will help tone down any dated features in the space. Bold walls have a way of reducing offers and price, so it's best to go with neutrals. If you have any rooms with questionable colors, invest in a gallon of Roasted Sesame Seed or Oklahoma Wheat paint and get painting!

10. Color me beautiful - purchase some new throw pillows for couches and beds to freshen up the area. Get creative with art work: frame Campbell soup labels for kitchen art work, frame pretty wallpaper for art work in the living room, put some toothbrushes in a shadowbox for fun bathroom artwork.

Remember you can only make one first impression on buyers...make it your best! For any questions, feel free to contact Kimmie at 801-209-8787 or Kimmie@holmeshomes.com

Thing to consider about short sales…

1.    Sold “as is”:  Good luck try to find a short sale home that is move-in ready.  Since they are sold “as is” you have to have to money to spare for all the fixing up you will be doing.

   2. Response time is slow:  There is an unusual amount of paper work involved in a short sale that could delay the response times of any offers you put on the house.  Some buyers are lucky and can receive a response in a couple of weeks.  More often than not, buyers will have to wait months before hearing back from a lender regarding their offer.

3.    Lenders can change conditions of the contract:  Contracts can be changed at the last minute with short sales.  Be prepared for more negotiations as new laws get passed or as the market fluctuates if you work with certain lenders. 

4.    Closing costs are higher:  It is standard practice for buyer and seller to spilt certain fees, but when it comes to banks, not so much.  They will most likely not pay any closing costs, inspections or for a home warranty.

5.    If you have a home to sell:  Selling your existing home needs to coordinate with the purchase of your new home, if not, you could be out on the street.  It is next to impossible to coordinate the close of your existing home with that of a short sale.

6.    Banks need to approve the sale:  The banks would rather take a loss by letting the house sit,  than selling it less at a loss.

7.    Stringent Qualifications:  Inexperienced or unethical agents often talk sellers into listing their home as a short sell when the home owners don’t even qualify for a short sale!  Sellers must have a hardship and provide the bank with tons of evidence of the hardship to the lender before they will even consider if it will be approved for a short sale.  Some agent list homes as short sales without even talking with the lenders.

8.    Lenders aren’t naïve at the value of the home.  They will request a (CMA) Comparable Market Analysis and/or  a (BPO) Broker Price Opinions.  If the lender believes a better price can be obtained by taking the property back in foreclosure over a short sale, the lender may hold out for a higher price.  Lenders accept short sales when the home is worth the short sale price, which is market value!

9.    Some lenders won’t fund on short sales….simple as that

10.    Length of time to close: After months of waiting for your offer to be reviewed and more months of counter offers, (If your offer actually gets accepted) you are looking at waiting again.  You are on the lenders clock, not yours.

11.    Banks that hold the note on the short sale can be bought out by another bank, sell their current loans (short sales included) , go out of business…Then, where are you and more importantly where is your earnest money deposit?

12.    The banks don’t have to respond.  If they do respond by rejecting your offer, don’t bother increasing your offer $1,000.  Increase it to market value or forget it.