Here’s some notes for the punch list how to maximize the sales price with minimal cost:
Should You Sell Your Home as Is, or Spring for a Renovation? Here’s How to Decide
Down load This report takes a deep dive into the reasons a homeowner remodels, the outcome of taking on projects, and the increased happiness found in the home once a project is completed. It also contains:
The typical cost of 19 remodeling and replacement projects, as estimated by members of the National Association of the Remodeling Industry
How much appeal each project is likely to have for buyers.
How much estimate that homeowners can recover on the cost of the projects if they sell the home.
See what neighbors are selling their house, how much it’s listed and sold. Contact to receive free up to date sales activity customized to your house and see how much your neighbors sold their home.
Curb appeal plays a significant role in tackling any outdoor project. Among REALTORS®, 94 percent have suggested sellers improve their curb appeal before listing a home for sale. When working with a residential seller, 99 percent of NAR members believe curb appeal is important in attracting a buyer (79 percent very important, 20 percent somewhat important). Ninety-seven percent believe curb appeal is important to a potential buyer (66 percent very important,
31 percent somewhat important).
Top Home Renovations that deliver the
Highest Return on Investment
Home Renovations That Deliver the Highest Return On Investment
Homeowners and renters remodel, redesign, and restructure their home for a variety of reasons. This report takes a deep dive into the reasons for remodeling, the success of taking on projects, and the increased happiness found in the home once a project is completed. It also contains:
• The typical cost of 20 remodeling and replacement projects, as estimated by members of the National Association of the Remodeling Industry (NARI)
• How much appeal each project is likely to have for buyers, according to REALTORS®
• How much REALTORS® estimate that homeowners can recover on the cost of the projects if
they sell the home.
Thirty-five percent of U.S. homeowners would rather move to another home than remodel their current home. Fifty-five percent of owners in suburban areas and 52 percent of owners in urban areas say they would be willing to remodel their home. This jumps to 70 percent for owners in rural areas.
When consumers remodel, it is to upgrade worn-out surfaces, finishes, and materials (34 percent); because it is time for a change (18 percent); and to add features and improve livability (15 percent).
REALTORS® are asked to rank interior projects in terms of their appeal to buyers. Complete kitchen renovation, kitchen upgrade, HVAC replacement, and new wood flooring topped the list.
REALTORS® also ranked projects in terms of the expected value at resale, without regard to price. Again, complete kitchen renovation, kitchen upgrade, HVAC replacement, and a new master suite topped the list.
REALTORS®’ rankings matched closely with what homeowners themselves said. NAR calculated a Joy Score for each project based on the happiness homeowners reported with their renovations. Interior projects with a Joy Score of 10 were complete kitchen renovation, closet renovation, full interior and individual room paint, kitchen upgrade, and basement conversion to a living area.
Finally, REALTORS® provided an estimate of the likely dollar value each project would add to the house at resale. In comparing that dollar value to the estimated cost of each project provided by NARI members, a Recovered Project Cost percentage was calculated. For interior projects, the highest percentage cost recovered was from new wood flooring at 106 percent, hardwood flooring refinish at 100 percent, HVAC replacement at 85 percent, and insulation upgrade at 84 percent.
While not all measurements yield the same outcome, there are some similarities and patterns to be found.
Curb Appeal Landscape Maintenance
How to Improve Curb Appeal, attract more Buyers and Sell for higher price.
One of the most important aspects of a home's resale value is its curb appeal. This guide provides tips you can use to help your clients improve their home’s curb appeal, along with some common mistakes to avoid when getting a house ready to sell.
NALP members report curb appeal is also very important to the majority of consumers when they hire a professional to tackle a project. According to a 2016 survey of NALP members, most new business is brought to landscape professionals because the homeowner does not have time to care for their lawn/landscaping (66 percent), the homeowner does not have the expertise to care for their lawn/landscaping (65 percent), to ensure the lawn/landscaping looks healthy to host a big life event (30 percent), or to ensure the lawn/landscaping looks healthy for the sale of a home (21 percent).
Seventy-four percent of REALTORS® have suggested sellers complete a landscape maintenance program before attempting to sell, and 17 percent said the project most recently sealed a deal for them, resulting in a closed transaction.
Consumers’ Viewpoint After Completing the Project:
• Top reason for doing the project: time for a change – 28 percent
• Second most common reason: to add features and improve livability – 24 percent
• Most important result: beauty and aesthetics – 39 percent
• Seventy-five percent said they have a greater desire to be home since completing the project, 59 percent have an increased sense of enjoyment when they are at home, and 63 percent feel a major sense of accomplishment when they think of the project.
• Joy Score: 9.5
Overall Landscape Upgrade
Project Description:
• Install a front walkway of natural flagstone three feet wide and 30 feet long. Add two stone planters six feet long and two feet wide. Install five flowering shrubs and one deciduous 15-foot-tall tree. Mulch with landscaping bark.
Twenty-seven percent of REALTORS® have suggested sellers complete a landscape upgrade before attempting to sell, and 11 percent said the project most recently sealed a deal for them, resulting in a closed transaction.
Cost Recovery:
• Landscape Professionals’ cost estimate: $6,000
• REALTORS®’ estimated cost recovered: $5,000
• Percent of value recovered from the project: 83 percent
Tree Care
Project Description:
• To include three applications of tree fertilizer, regular spraying, trimming and pruning, as well as the removal of one 30-foot-tall tree by professional.
Forty-six percent of REALTORS® have suggested sellers provide tree care before attempting to sell, and three percent said the project most recently sealed a deal for them, resulting in a closed transaction.
Cost Recovery:
• Landscape Professionals’ cost estimate: $2,000
• REALTORS®’ estimated cost recovered: $2,000
• Percent of value recovered from the project: 100 percent
Consumers’ Viewpoint After Completing the Project:
• Top reason for doing the project: time for a change – 25 percent
• Second most common reason: to add features and improve livability – 24 percent
• Most important result: beauty and aesthetics – 31 percent
• Sixty-nine percent said they have a greater desire to be home since completing the project, 50 percent have an increased sense of enjoyment when they are at home, and 62 percent feel a major sense of accomplishment when they think of the project.
• Joy Score: 9.2
Landscape Lighting
Project Description:
• Installation of a standard 600w transformer and twenty LED lights.
Eleven percent of REALTORS® have suggested sellers add landscape lighting before attempting to sell, and only one percent said the project most recently sealed a deal for them, resulting in a closed transaction.
Cost Recovery:
• Landscape Professionals’ cost estimate: $5,000
• REALTORS®’ estimated cost recovered: $2,500
• Percent of value recovered from the project: 50 percent
Consumers’ Viewpoint After Completing the Project:
• Top reason for doing the project: to add features and improve livability – 51 percent
• Second most common reason: time for a change, upgrade worn-out surfaces, finishes, and materials, and just moved in and wanted to customize to personal tastes – all three with 11 percent
• Most important result: beauty and aesthetics – 40 percent
• Seventy-three percent said they have a greater desire to be home since completing the project, 60 percent have an increased sense of enjoyment when they are at home, and 59 percent feel a major sense of accomplishment when they think of the project.
• Joy Score: 9.6
New Patio
New Patio
Project Description:
• Install a backyard 18-foot-by-16-foot concrete paver patio, dry set over compacted gravel, and sand base.
Four percent of REALTORS® have suggested sellers add a new patio before attempting to sell, and two percent said the project most recently sealed a deal for them, resulting in a closed transaction.
Cost Recovery:
• Landscape Professionals’ cost estimate: $7,200
• REALTORS®’ estimated cost recovered: $5,000
• Percent of value recovered from the project: 69 percent
Consumers’ Viewpoint After Completing the Project:
• Top reason for doing the project: to add features and improve livability – 57 percent
• Second most common reason: to upgrade worn-out surfaces, finishes, and materials – 16 percent
• Most important result: better function and livability – 44 percent
• Eighty-four percent said they have a greater desire to be home since completing the project, 83 percent have an increased sense of enjoyment when they are at home, and 77 percent feel a major sense of accomplishment when they think of the project.
• Joy Score: 9.7
Outdoor Kitchen
Project Description:
• Install one inset grill, stainless steel drawers, ice chest, sink, 60 square feet of concrete counter top, made from veneered masonry stone.
Only one percent of REALTORS® have suggested sellers install an outdoor kitchen before attempting to sell, and one percent said the project most recently sealed a deal for them, resulting in a closed transaction.
Cost Recovery:
• Landscape Professionals’ cost estimate: $14,000
• REALTORS®’ estimated cost recovered: $10,000
• Percent of value recovered from the project: 71 percent
Fire Feature
Project Description:
• Install dry-stacked natural stone kits, gas burner with 10-foot diameter flagstone patio.
Two percent of REALTORS® have suggested sellers add an outdoor fire feature before attempting to sell, and less than one percent said the project most recently sealed a deal for them, resulting in a closed transaction.
Cost Recovery:
• Landscape Professionals’ cost estimate: $6,000
• REALTORS®’ estimated cost recovered: $4,000
• Percent of value recovered from the project: 67 percent
Consumers’ Viewpoint After Completing the Project:
• Top reason for doing the project: to add features and improve livability – 57 percent
• Second most common reason: just moved in and wanted to customize to personal tastes – 17 percent
• Most important result: adding more individual personality to the home – 33 percent
• Eighty-three percent said they have a greater desire to be home since completing the project, 66 percent have an increased sense of enjoyment when they are at home, and 68 percent feel a major sense of accomplishment when they think of the project.
• Joy Score: 10
Water Feature
Consumers’ Viewpoint After Completing the Project:
• Top reason for doing the project: to add features and improve livability – 63 percent
• Second most common reason: just moved in and wanted to customize to personal tastes – 17 percent
• Most important result: beauty and aesthetics – 38 percent
• Eighty-three percent said they have a greater desire to be home since completing the project, 79 percent have an increased sense of enjoyment when they are at home, and 81 percent feel a major sense of accomplishment when they think of the project.
• Joy Score: 9.8
Irrigation System Installation
Project Description:
• Installation and management of irrigation system for a lawn that is 2,835 square feet. No boring required.
Three percent of REALTORS® have suggested sellers install an irrigation system before attempting to sell, and only one percent said the project most recently sealed a deal for them, resulting in a closed transaction.
Cost Recovery:
• Landscape Professionals’ cost estimate: $3,500
• REALTORS®’ estimated cost recovered: $3,000
• Percent of value recovered from the project: 86 percent
New Pool
Project Description:
• Install an 18-foot-by-36-foot in-ground pool with gunite walls, 3-foot to 7-foot depth, standard filtration system. Include 3-foot-wide-by-4-inch thick concrete perimeter surround.
Less than one percent of REALTORS® have suggested sellers add a new pool before attempting to sell, and two percent said the project most recently sealed a deal for them, resulting in a closed transaction.
Cost Recovery:
• Landscape Professionals’ cost estimate: $57,500
• REALTORS®’ estimated cost recovered: $25,000
• Percent of value recovered from the project: 43 percent
Consumers’ Viewpoint After Completing the Project:
• Top reason for doing the project: to add features and improve livability – 44 percent
• Second most common reason: just moved in and wanted to customize to personal tastes – 26 percent
• Most important result: better functionality and livability – 46 percent
• Ninety-two percent said they have a greater desire to be home since completing the project, 83 percent have an increased sense of enjoyment when they are at home, and 79 percent feel a major sense of accomplishment when they think of the project.
• Joy Score: 8.8
The Last Minute Checklist
p Clear away any litter from in front of your house
p Make sure all outside bikes, toys, and gardening implements are
in their proper places
p Remove any pet debris
p Garage is empty of vehicles and garage door is shut
p (Winter) Snow and ice removed from sidewalks
p Trash cans are not causing the garage to smell
p Garage floor is swept
p All lights are on in each room and in the basement
p Start a fire in the fireplace, only if someone is home
p No lingering odors in the house
p Start coffee brewing in the kitchen
p Turn on soft music in the living room
p There is an unobstructed path through the house
p Open all interior doors
p Open the curtains and roll-up any blinds
p The house is at a comfortable temperature
p Vacuum and dust, if there is time.
p Close TV cabinet doors in the living room
p Remove any glasses and plates of food from rooms
p Put away any clutter in hallways, or on staircases
p Make sure there is space in entry closet to hang coats
p Remove any dead flowers from floral arrangements
p If china buffet has interior lights, turn them on
p Make sure kitchen appliances are spotless
p Take out any kitchen garbage
p Check that the pet “eating area” is clean
p Clear the countertops
p Put out new dish towels and tea towels and placemats
on the kitchen table
p Clear all dirty dishes into the dishwasher
p Personal items are hidden from view in the bathrooms
p Put out new bathroom towels
p Tubs and sinks are clean
p Shower curtains are pulled back
p Toilet seats are down
p Beds are made
p Clothing is put away
p Personal items are put away off the bedroom dressers
p Toys are picked up in children’s bedrooms
p Turn off any televisions
p Turn off any radios
p Turn off dishwasher
p Turn off washing machine and/or dryer
p All “Lasting Impressions” are in place
p Don’t forget the pets
p Don’t forget the children
p Relax. Go somewhere and have fun!!
Find out how much your House Value is worth with real data direct from the MLS, not Zillow estimates from tax records. Go to OwnLV.com to get a free customized home valuation. Plus bonus updates to market activity in your neighborhood every time a neighbor sells.
Seller Beware! Selling your home to an ‘iBuyer’ could cost you thousands Go to OwnLV.com to get free Home Seller’s Serious Cautions to consider before selling their house unrepresented.
Content to be sent after receiving email: Realtor Code of Ethics: “When representing a buyer, seller, landlord, tenant, or other client as an agent, realtors pledge themselves to protect and promote the interests of his or her client. This primary obligation does not relieve the REALTOR of the responsibility of dealing fairly with all parties to the transaction.” This is a huge conflict of interest because they can’t have fiduciary duty to you and themselves at the same time.
What questions you should not disclose to an Ibuyer investor…
They says no commission but charge sellers more in hidden fees totally up to 7-10% of the final sales cost. Some IBuyers will charge the seller a cancellation fee after the seller realizes all the fees and repair charges results in the final price no where near the original offer.
Why are you selling….when do you have to move…. This information can be used as leverage against you in negotiations or even during contingence period to take more of your net proceeds. Image how you will be feeling a day before you close, expecting to be moving on with your life. Now image a week before closing the buyer says after the inspection the repairs are going to cost $25,000 more than estimated so if you don’t drop the price, they are canceling escrow. How would you feel then?
A profession experience agent representing you knows to negotiate these contingencies when you have the leverage, not when you are at your weakest. How can home seller can lose money while the transaction still in escrow after they thought it was an agreed upon price. They state it is the obligation of the seller to conduct their own due diligence in order to analyze and determine whether or not to accept the offer. They expect sellers to be oblivious to the terminology and jargon, and to fail to read between the lines. They aren't there to represent your best interests; they are a buyer who is determined to pay as little as possible for your home. These costs include the expenditures of purchasing and reselling the seller's home, as well as holding fees such as taxes, upkeep, and utilities. This cost is upwards of 7% (perhaps as high as 10%), which is higher than the commission paid to an agent by sellers. Offerpad states that the service fee is just 4-7 percent, but then goes on to say that you will also be responsible for all of the usual transaction fees associated with selling a house, such as the commission (another 3%), as well as the holding costs of utilities, maintenance, and taxes. They say they don’t charge commission but they charge service fees that add up to more than a commission would; without any service of representation to the seller. You pay more, get less. They find any reason to deduct money from their offer, and by waiting until after the seller has already signed the offer; the seller is legally obligated to correct everything, regardless of the cost. If they decline, the iBuyer will reduce their already low offer by a large amount. They will deny any further negotiations because they wrote the deal, and the unfortunate sellers are stuck. Which is why you don’t use the contract provided by one of the parties negotiating against you. The terms in the contract are written by the buyer for their advantage. In additional to the hme seller not having representation to navigate all the contingencies and inspections negotiations. Listing with a company that actually wants to buy your property is a problem. If they can buy a seller’s home for a profit, they are NOT motivated to help the seller get the highest price for their home by listing it. They will make no effort to help the homeowner sell, because the longer it sits on the market, the more appealing their low-ball offer looks as a means to “get it over with.” https://www.marketwatch.com/story/selling-your-home-to-an-ibuyer-could-cost-you-thousands-heres-why-2019-06-11 https://www.forbes.com/sites/alyyale/2019/08/16/study-shows-ibuyers-cost-home-sellers-thousands-is-convenience-worth-the-price/?sh=aa01d6b2269f Selling a home is not an easy process as the Ibuyer investors would like you to think. As simple as pushing a button; because they don’t represent your best interests. They negotiating against them. Get the convenience of having Personal Hands On Experience working for your best interests not against. More net profit, less risk to home sellers. rehabbing houses since the 90s Know how to access and estimate bids for repairs to prepare house for top sale price Know what to remodel and what to leave as is What agents don’t tell you about what sells your house and what marketing sells them Response about the agents that say top seller–don’t tell you team members with less experience will be the ones working on your transaction. “NAR statistics show that agents sell homes for more than a For Sale By Owner.” “Federal and state governments have laws that all sellers must comply with, even if you are unaware.” “An attorney charges by the hour, and you will therefore have to pay even if the transaction does not go through. I only get paid upon a successful sale!” Do you know how to screen buyers so unqualified purchasers aren’t wasting your time and going through your home?! Do you know the difference from prequalifed buyer vs preapproved? Do you know the difference from a real preapproval and one not worth the paper it’s written on? You’ll find out after 3 weeks in escrow when the deal fall through.
How much do realtors charge to sell a house
There are many steps in the process of selling a house and even more processes and costs when getting the top price for your house.
For a quick sale, the house can be priced aggressively and need to negotiate multiple counter offers where the difference in the sales commission would cost less than accepting the wrong offer. The highest offer is not always the best, especially if it can’t close.
The time and steps in this process
I want to sell my house for the highest price. This strategy would require find the right buyer that needs and wants the features in your house. This requires targeting a niche buyers market and buying targeted ads to get your house in front of buyers that are highest likely to make an offer on your house.