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We
have an extensive library of literature on every aspect
of selling a home that we would be happy to e-mail,
mail, or fax to you. If you would like additional information,
please describe what aspects of selling that you are
interested in and email
us.
We specialize in helping sellers get the highest price
for their homes. We do this not only through our skillful
negotiation and proactive marketing, but by listening
to your situation and helping you decide what can be
done to prepare your home to get the highest price possible.
Before you spend money preparing your house for sale,
have the Tahoe Dream Team come over and help you decide
what you should and should not do in order to get the
highest price and return on the sale of your home.
Tax Implications of Selling a Home
Selling a home can have a major impact on your federal
and state tax returns. We recommend that you consult
your accountant prior to selling your home to make sure
that you are taking advantage of any beneficial tax
laws and that you are achieving your long range financial
goals. The Federal Taxpayer Relief Act of 1997 says
that when you sell your home you can keep, tax free,
capital gains of up to $500,000 if you are married filing
jointly or $250,000 for single taxpayers or married
taxpayers who file separately. To qualify for the exclusion,
you must have used the home as your principle residence
for at least two of the prior five years. It is not
a one time tax exclusion. You can use the exclusion
as often as you meet the qualifications.
How Much Is Your Home Really Worth?
Your home's market value is an important factor in a
long list of financial decisions, including but not
limited to; selling the home, refinancing your mortgage,
borrowing against your equity, buying homeowner's insurance,
calculating the expected return on remodeling costs,
managing your other investments, estate planning and
so on. The trick is figuring out how much your home
is worth and remembering that how much you paid for
it months or even years ago, is not relevant to its
current market value. Pricing decisions should be grounded
in reality rather than wishful thinking.
Even if you're not planning to sell your home right
away, the Tahoe Dream Team is willing to prepare a free
Comparable Market Analysis (CMA) for you as a marketing
service with the goal of getting your business whenever
you do decide to sell. A CMA shows the prices of recently
sold homes that are comparable to yours and the prices
of comparable homes currently for sale on the market.
As market savvy Realtors, the Tahoe Dream Team can give
you a rough idea of what your home would be worth, given
its size and condition and local market conditions.
Four strategies to help you determine how much your
home is worth:
| 1. |
Abandon your personal point of view.
How much will a ready, willing and able buyer
be willing to pay for your home? Buyers don't
care how much you paid for the home, how many
memorable moments you and your family shared in
the home, how much cash you need for the down
payment on your next home or how much time and
money you've invested in your home's hardwood
floors, fresh paint, lush landscaping or other
improvements. |
| 2.
|
Do
your own market research.
Go to the Tahoe Dream Team’s Search All
Listings page and put yourself in the buyers’
shoes. What home could you buy similar to yours
and at what price? Try to make an impartial assessment
of how other homes compare to yours in terms of
location, size, amenities, and condition. Assuming
all the asking prices were the same, would you
buy your home or someone else's? |
| 3. |
Calculate
the price per square foot.
The average price per square foot for homes in
your neighborhood shouldn't be the sole determinant
for the asking price for your home, but it can
be a useful starting point. Keep in mind that
various methodologies can be used to calculate
square footage. TIP: Price per square foot is
a time-honored method of real estate valuation
and not a bad rule of thumb. However, it doesn't
account for a choice location, a good view, a
move-in-ready home, or personal criteria. You
should factor in how the property was measured
and whether the square footage includes the garage
or other detached buildings on the property. Typically
the square feet listed in our Multiple Listing
Service does not include the garage. |
| 4. |
Consider
market conditions.
Are home prices in your area trending upwards
or downwards? Are homes selling quickly or languishing?
Will your home be on the market in the spring
home buying season or the dead of winter? Are
interest rates attractive? Is the economy hot
or cold? Will you be selling in a buyer's market
or a seller's market? |
Getting the House Ready
A house that "sparkles" on the surface will
sell faster than its shabby neighbor, even though both
are structurally well-maintained. From experience, the
Tahoe Dream Team knows that a "well-polished"
house appeals to more buyers and will sell faster and
for a higher price. Additionally, buyers feel more comfortable
purchasing a well-cared for home. If what they can see
is well maintained, what they can't see has also probably
been maintained.
How much should you spend? Be sure to consult with the
Tahoe Dream Team before spending money to improve your
house. The Tahoe Dream Team can help you analyze cost
and return of home improvements prior to sale to help
you get the highest dollar for your house with the least
money out of pocket. We can help you decide repair priorities
for every budget.
Before you put your home on the market, there are some
things you can do to differentiate your house among
the competitors. When preparing to put your home up
for sale, your first concern is the home's exterior.
If the outside, or "curb appeal" looks good,
people will more than likely want to see what's on the
inside. Keep the lawn and landscape nicely manicured.
Trim the bushes and season permitting, plant some flowers.
Be sure your front door area has a "Welcome"
feeling. A fresh coat of paint on the front door looks
great. Sweep the porch and the front walkway.
Remember, whether it be carpet, paint, or tile, neutral
colors are best. There will always be certain people
who don’t like certain colors and once buyers
see things they don’t like, they often have a
difficult time looking past these items to the rest
of the house. We can help you choose colors and fixtures
that are popular with today’s buyers.
Of all the rooms inside your home, pay special attention
to the kitchen and bathrooms. They should look as modern,
bright and fresh as possible. It is essential for them
to be clean and odor free. A fresh coat of paint just
may do the trick. Have any leaky faucets taken care
of.
Clear out the clutter. Real estate agents say buyers
won't purchase a home they can't see. If your home has
too much furniture, overflowing closets, crowded kitchen
and bathroom countertops or lots of family photos or
collectibles on display, potential buyers won't be able
to see your home. Get rid of anything you don't need
or use. Clear out personal items, such as pictures,
and keep things as neutral as possible. This will help
potential buyers to imagine themselves in your home.
Since you want your home to look as spacious as possible,
remove any excess or very large furniture. Make sure
that table tops, dressers and closets are free of clutter.
Don't use your garage, attic, or basement to store these
extra things. These areas also need to have the impression
of space. Instead, put them into storage. Make sure
walls and doors are free of smudges and look for anything
that might indicate a maintenance problem, such as cracked
windows, holes in the wall or stained ceilings.
Make all necessary repairs. Buyers expect everything
in their new home to operate safely and properly. Picky
buyers definitely will notice and likely magnify minor
maintenance problems you've ignored for months or even
years. Leaky faucets, burned-out light bulbs, painted-shut
or broken windows, inoperable appliances and the like
should be fixed before you put your home on the market.
These repairs may seem small, but left undone they can
lead buyers to question whether you've taken good care
of your home.
Always look at your home from the buyer's point of view.
Be objective and be honest. Get a buyer's-eye view.
Walk up to your home and pretend you've never seen it
before. What do you notice? How do you feel about what
you see? Does the home seem inviting? Well-maintained?
Would you want to buy this home? Your answer should
be an enthusiastic “Yes!” |
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