How to receive multiple offers on your home

This winter has been a cold one, however the spring real estate market is already blooming. For the last year home owners have been hesitant to put their homes on the market, resulting in low inventory for home buyers to look at.  Feeling as though they have not seen enough homes to make an offer some buyers are just waiting for more homes to come on the market to make a decision on which ones to place an offer on. Other buyers have lost out on a home they truly love because there were multiple offers and they lost out.

So you may ask yourself, how can my home have a better chance of receiving multiple offers? Here’s how.

1. Have you home priced right. It is not a sellers market just yet, and the buyers who are out there are still looking for value when they buy their next home.  As a result you need to make your home appealing to as many buyers as possible through your pricing strategy. I am not suggesting you price your home below market value, but rather ensure that your home is not priced over market value.  It will deter buyers from even walking in your home. If you home is listed at market value more buyers will be inclined to view and subsequently place an offer on your home.

2. Make your home a value. Speaking of making your home seem like a value I can’t emphasize enough how important it is to make your home show ready. Many millennials out there are looking for a home they can move right into. Before putting your home on the market make minor repairs that will make a big difference when your home is shown. Paint every room, de-clutter, keep your home clean, replace broken tiles, re-grout tiles, update antiquated appliances etc. You need to demonstrate to buyers that your home is worth what you are asking for it.

3. Hire an agent who has a buyer pool. Some buyers have been looking for 6 months to a year already trying to find their dream home. By hiring an agent who has an established, ready and willing to purchase buyer pool, your agent may be able to bring buyers to your door with offers just days of being on the market.

Following just simple steps will help you take advantage of the buyers who have been holding off on placing offers, and hopefully will bring multiple offers to your home this spring.

What Buyers Want to Know About Mortgages

We have spent the last couple of years in a buyer paradise.  Interest rates on mortgages have been at historical lows, going as low as 3 %.  The winds are shifting and we are anticipating mortgage rates to increase to 5%-6% by this time in 2015.  Buyers should also be aware that new regulations are going into effect in 2014, and some lenders are implementing new standards for approving loan applications.

My White Plains, Coldwell Banker Office is have a meeting tomorrow January 16th 2014 just to discuss mortgages. Agents are fielding many questions about what buyers should anticipate in terms of interest rates for 2014, how the new mortgage guidelines will affect buyers, what kind of credit will be available, and how changes to interest rates and availability of loans will affect home sales.   We are having expert mortgage representatives explain what to expect in 2014.

Since there is a wide range of information we could obtain, I want to know what YOU, the consumer, are confused about when it comes to mortgages, what you would like more information about, and what mortgage interest rates mean for you.

Leave me a comment and I will be sure to find the answers for you!