5 Things to do when showing your home on short notice

When your home is on the market you never know when the phone is going to ring and with perspective buyers eager to enter your home. Hopefully they give you a few hours but often time they are sitting in your driveway with their agent calling off the real estate sign.

Over the years I have put together a list of items that really matter to buyers, and the things they notice most about a not so open house ready home.

1. Get rid of obnoxious smells: I'm talking gym socks and kitty litter here. If you don't have the time to do the full overhaul. Make sure if nothing else the house doesn't have any linger smells. Clean out the cat box, and use a disinfectant spray on the not so great areas of your home. Note: be careful not to overdo it.

2. Do the dishes: If you have leftover yuck in the sink, buyers may think that you don't care for the home or that you don't keep up with regular maintenance. Plus, dishes can lead to stinky odors. Give the counters, stove and table a quick wipe.

3. Walk the house: Being mindful of thing lingering on the floors. Through trash away, put laundry in the hamper, and kid’s toys and backpacks into the appropriate area. The buyer may not notice that you have not vacuumed in a few days if the home seems for the most part clean. While you are walking around turn on the lights of the rooms that you have checked and picked up. This way you know the room has been addressed.

4. Tidy up the Bathroom: Again if you have limited time the wipe down the mirrors and the counters in the bathroom. Most of all close the toilet lid and shower curtains. This will give an allusion of the bathroom being cleaner than it actually is.

5. Clean the floors: If you find you have a just a few minutes left before the buyers walk in the door, grab a broom or vacuum and touch up the high traffic areas. This will put the icing on the cake and make an award winning first impression.

Now grab the kids and the pets, hop in the car and give the buyer a little time to explore.

How to pick a good Home Inspector

In Utah it is not mandatory to have a home inspection before buying. I think it is absolutely insane. So, why would you get a home inspection in the first place, what do they inspect and how much do they cost? These are all questions that I get on a daily basis.

A home inspection will not only give you peace of mind but it will also tell you if there are any major problems with the home. I take back the peace of mind for now… Actually if you pick a good home inspector they will scare the holy S*** out of you. That being said I always tell my client to keep an open mind. That we are really looking for big ticket items. Every house has little things that need to be fixed. Just think of where you live now.

So, what do home inspectors inspect? That’s a great question. While, every home inspection company is different they all have a “so and so” point inspection. One of the companies that we often use Pillar to Post boasts a 1600 point visual inspections. The home inspector will inspect from the ground up. This includes but is not limited to plumbing, heating, air conditioning, electrical, and appliance systems, as well as observation of structural components: roof, foundation, basement, exterior and interior walls, chimney, doors, and windows. It takes most inspectors roughly 2-3 hours for the inspection.

Then the inspectors takes an additional half to full hour to explain to the potential new buyer any item that need to be repaired and any safety issues that should be addressed. As I said before I always tell my clients to look for the big stuff that stuff that will drain your bank account like the furnace, water heater, foundation, electrical, and roof. Every house at one point or another will have a little leak under the sick or an electrical outlet that needs to be replaced. These are nickel and dime items.

A home inspection generally costs $250-$500 without adding any additional services. The service is normally based on the square footage and age of the home. Occasionally if the home is located outside of the service area they will charge an additional location fee. The company will also ask if you would like any additional services like mold, meth, radon, or infrared inspection. Additional test will add to the bill fast, most of the additional test will run you $90-$150.

Picking the right home inspector can be challenging; we as agent find a few that do an exceptional job and put them on our preferred vender list. In Utah home inspectors are not required to have any certification or licenses, less of a business license. So, as the home buyer you should ask the question

Do you have any Certification to be a home inspector?

How long have you been in this business?

Do you have any background in construction or home building?

Are you going to be inspecting the house or does someone you employ do the inspection? Are your employees certified?

What is included in the inspection?

Do you give me a report on the spot? Does it have pictures?

Will you physically show me where the problems are?

Will you show me where the water and gas shut off valves are, and anything else that I should know?

What kind utilities would you like me to make sure are on before you come?

What sets you apart from the competitors?

If comes down to not wanting to fork over the dough. Do your homework before going forward with purchasing. Have a friend or family member do a visual inspection.

Here is a good list of items that will make it a lot easier to have peace of mind.

 

Thanks a bunch and if I forgot anything please let me know.

Kitty | 801-550-4640 | Kittynberry@gmail.com

Will an agent take less then the "going rate" for commissions?

Q: How do you find an agent that will take less than the "going rate" for commission, without insulting them?
We would like to sell our home and have enough money "leftover" to buy another. Yet with the commission rate locally included in the price we are asking to much for the house and there isn't much wiggle room to work with prospective buyers.
  
A:  I guess the first question to address is how much it really costs to sell your house. Commission rates in Utah are typically 6%, you pay an additional 1% for sellers title, and up to 3.5% (3% is typical) in seller paid buyers closing costs. A few other costs may have your head spinning when a buyer’s asks for a home warranty or repairs. 

Let's dive into these percentages even more and figure out where all the money actually goes. The 6% agent commissions are broke down like this. The listing agent gets half 3% and the buyer’s agent gets the other half 3%. Then with our 3%, the money gets split like this 1/3 goes to the brokerage that we work for, 1/3 goes to Uncle Sam, and the last 1/3 gets split between expenses like: gas, advertising, printing expenses, open house costs, and finally our monthly bills. 

Next are seller’s title fees. There are so many different ways to count your chickens when it comes to pricing out title cost, that being said every time I have a client that wants me to breakdown and find out who is the best price. It comes down to about $65 difference across the board.  The government regulates these guys so heavily that you should pick a title person that is good at what they do, who loves there job and has a lot of experience.   

Now we get into what I think is the best place to negotiate and save money. Sellers paid buyers closing costs. Yes it is exactly what you think it is. You are paying for the buyers title and there mortgage initiation fees. Why would you do this you ask, because the buyer didn't want to spend the time or efforts to save money? I love negotiating this on both sides it really fires me up to help my client out. Can you get 5, 6, or even $7,000 free money for your buyer? Yes. Does the seller have to pay for the buyers closing cost? No. It's a win lose situation. When I have a seller that is on the cusp of short sale or going to need to bring money to the table, I always tell the buyer’s agent, sellers permitting, that there is no money for repairs or closing cost. If the buyer needs them that bad, then the buyer’s agent needs to stack them on top of the purchase price. This makes it a win win. Buyer gets the money they need for closing cost; and seller doesn’t have to forfeit their equity.  

Last point repairs and home warranties. With the exception of the repairs that come back on the appraisal. I think this is a good place to save some money. It’s like the icing on the cake for a buyer. It’s not really needed for the cupcake to be good. Just don’t agree to it.
All that being said I think that there are a lot of different places to save money. I always worry about agents that are willing to take a smaller commission, what the seller is missing out on? Are you really going to get top rate service? Is the agent going to negotiate the best price for you, or are they going to just get the job done.  I always recommend sellers to do their homework before they choose an agent. You should ask yourself do you have similar morals, values, and expectations. What are the services that the agent is going to provide? How long are does it normally take in this market for a house to sell? How is the best time and form of communication? Is the agent a full time agent or do they have a day job and sell real estate on the side? Does there schedule and your schedule match up?
Is what I’m trying to say is do your homework; a lot of time you pay for what you get. We as agents for the most part are human can compromise and want the best for everyone. I personally access commissions on a case by case base. So, the answer is yes. Try and come to a good compromise with the agent if they are taking a discount. Offer to schedule your own showing appointments, buy refreshment’s or bake cookies for the open house,  the best thing you could offer is using them as your agent when you purchase a new home, or help them with referring your friends and family.

Super funny video on lending

This video is awesome for the new home buyer.

5 Things You Should Do When You Move Into a New Home

1. Change locks
Unfortunately, you can’t assume the keys you’re holding are the only keys to your home that could exist out there. Play it safe and have all the locks changed as soon as you can.
2. Re-program garage door opener
Again, it’s better to be safe than sorry when it comes to the security of your new home. Most garage door remotes have a reset button that you can hold down to reprogram the opener. If you want more concise instructions, note the make and model of the opener and contact the company to walk you through the steps.
3. Install new batteries in smoke alarm and carbon monoxide detector
You have no way of knowing when the batteries were last changed and if the home has been unoccupied, it’s probably been awhile. Test the alarm and detector and put new batteries in each. This investment of time and a few dollars is well worth it, given the stakes.
4. Replace furnace filter
Most manufacturers recommend that a furnace filter be changed once a month during the heating season to ensure the most efficient performance. While there are higher-quality filters that may not require monthly replacement, it’s still a good idea to check the filter monthly and, of course, replace it when you move into a new place.
5. Check with the County Assessor
The most important thing you should do when you move into a new property here is to check with the county assessor to see if your home is assessed at.  When your new assessment comes in July, I can help you use your purchase price to protest your taxes if they are assessed hired than your purchase price.

How to Improve Indoor Air Quality

How to Improve Indoor Air Quality
By Fred Larsen at www.pillartopost.com/saltlake


Our homes harbor more than just our families and possessions. Home is also where pollutants, allergens, and other irritants accumulate and thrive, with possible harmful effects on our health. There are simple steps homeowners can take to improve the air quality in their home and increase their comfort and well being.

HANDLE HUMIDITY

High humidity is one of the main contributors to mold and dust mite growth, both of which adversely affect indoor air quality. Keeping indoor humidity below 50% will help prevent further infestation, although once mold gets established it can continue to grow even at lower humidity. To reduce humidity levels in the home, always use ventilation fans in kitchens and bathrooms, make sure the dryer is vented to the outdoors, and address any leaks or condensation issues. Consider using a dehumidifier in especially humid locations such as basements, which usually have poor air circulation and are prone to dampness.

DUST UP THE DUST

Reducing dust in the home can also improve air quality. Dust can be comprised of pollen, mold spores, lint, animal dander and even bacteria. While it's impossible to completely rid a home of dust, there are ways to control it. Purchase a quality vacuum cleaner and use it regularly. Many vacuums are now available with HEPA filters that trap small particulate matter and keep it from being blown back into the room. Change or clean furnace filters regularly, according to manufacturer's instructions. High quality furnace filters are more expensive than ordinary types, but are more effective at filtering dust, pet hair, and other particles.

GO AHEAD AND VENT

Opening doors and window whenever possible can also help with indoor air quality. The home will have better air circulation and "breathe" better, and of course homeowners will enjoy fresh air on a nice day.

CHEMICAL SENSE

Many cleaning products are now available in less toxic and environmentally friendly formulations. Manufacturers have made significant improvements to these products over the last few years, and many "green" cleaners and detergents now do an equal or better job than their conventional counterparts. Dispose of old paint, pesticides, and other products so they aren't leaking fumes into your home. Homeowners should check with their local trash collection company for instructions on how to properly dispose of such items. Check for leaks or damage to packaged household products such as cleaners and solvents, and dispose of accordingly.

By taking these relatively easy steps, homeowners can truly make their home a breath of fresh air.

If your thinking about buying or selling or know someone who is please give me a call.

Kitty Berry
801-550-4640
kittynberry@gmail.com

The Wild Ride in Housing Prices

  The last 8 years have been a wild ride for housing prices.  Never has the local real estate industry faced such volatility.  From 2004-2007 the median sales price of a home increased by a stunning 57%.  In 2006 alone prices increased by a near farcical 27%.  The run-up in prices, however, was short lived.  By 2008 prices weakened and began a stead decline over the next 3 years of about 6% annually until 2011 when priced declined 9%; the second worst single year decline in housing prices in 60 years.  Only the 12% decline in 1958 was worse.  Prices finally hit bottom in 2011 at $204,600 inflation adjusted dollars.

 In 2012 prices finally turned as the median sales price of an existing home rose 6% to $211,000.  In inflation adjusted dollars the increase was little less than 4%.  Every city in the county with the exception of South Salt Lake, experienced increases in housing prices in 2012.  The double digit strength of prices in the last 6 months was very surprising.  With this recent uptick housing prices in Salt Lake County are now back to their 2005 level.  Nationally prices have fallen to their 1998 level.

  Housing prices have made impressive gains despite the drag from short sales and REO sales.  In 2012, short sales totaled nearly 1,600 homes; a 15% share of all homes sold.  While the number of short sales was increasing in 2012 REO sales were declining as financial institutions steered finally troubled home owners away from foreclosures to short sales.  Consequently, the inventory of foreclosure filing in Utah is shrinking.