Do's and Don'ts of Homebuyer Incentives

Thursday, May 17, 2012

Tags: Homebuyer Incentives, www.MyReynoldsTeam.com, The Reynolds Team, Vero Beach Real Estate, Dale Sorensen Real Estate, Scott Reynolds, Home Seller

Homebuyer incentives can be smart marketing or a waste of money. Find out when and how to use them.

Be sure you're sending the right message to buyers when you throw in a homebuyer incentive to encourage them to purchase your home.

When you're selling your home, the idea of adding a sweetener to the transaction-whether it's a decorating allowance, a home warranty, or a big-screen TV-can be a smart use of marketing funds. To ensure it's not a big waste, follow these dos and don'ts:

Do use homebuyer incentives to set your home apart from close competition. If all the sale properties in your neighborhood have the same patio, furnishing yours with a luxury patio set and stainless steel BBQ that stay with the buyers will make your home stand out.

Do compensate for flaws with a homebuyer incentive. If your kitchen sports outdated floral wallpaper, a $3,000 decorating allowance may help buyers cope. If your HVAC system is aging, a home warranty may remove the buyers' concern that they'll have to pay thousands of dollars to replace it right after the closing.

Don't assume homebuyer incentives are legal. Your state may ban homebuyer incentives, or its laws may be maddeningly confusing about when the practice is legal and not. Check with your real estate agent and attorney before you offer a homebuyer incentive.

Don't think buyers won't see the motivation behind a homebuyer incentive. Offering a homebuyer incentive may make you seem desperate. That may lead suspicious buyers to wonder what hidden flaws exist in your home that would force you to throw a freebie at them to get it sold. It could also lead buyers to factor in your apparent anxiety and make a lowball offer.

Don't use a homebuyer incentive to mask a too-high price. A buyer may think your expensive homebuyer incentive-like a high-end TV or a luxury car-is a gimmick to avoid lowering your sale price. Many top real estate agents will tell you to list your home at a more competitive price instead of offering a homebuyer incentive. A property that's priced a hair below its true value will attract not only buyers but also buyers' agents, who'll be giddy to show their clients a home that's a good value and will sell quickly.

If you're convinced a homebuyer incentive will do the trick, choose one that adds value or neutralizes a flaw in your home. Addressing buyers' concerns about your home will always be more effective than offering buyers an expensive toy.

Reprinted with permission of the National Association of Realtors®. Copyright 2010. All rights reserved.

The Reynolds Team of Dale Sorensen Real Estate is very experienced with the tough negotiations that are custom in the current real estate market. Having a trusted real estate professional working for you will help bring you a successful outcome during negotiations. Consisting of three full time agents and one assistant, The Reynolds Team has the expertise to help guide you through negotiations so that you get a fair price for your home. Contact Scott Reynolds by phone 772-321-2113, e-mail Scott@MyReynoldsTeam.com for more information. The Reynolds Team consists of Scott Reynolds, Realtor; Shane Reynolds, Realtor 772-321-4119; Janice Reynolds, Team Assistant. Visit our newly redesigned website www.MyReynoldsTeam.com to learn more about us!

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Pricing Is Not Everything, But It Is Important!

Monday, April 16, 2012

Tags: The Reynolds Team, Scott Reynolds, Seller, Homes for sale, Vero Beach Real Estate, Home Pricing, Buyer

To get the highest and best for your home including a short market time, a lot of items must be in line.

1.) Pride of Homeownership. Keep all of the small items working correctly and looking their best. Replace light bulbs, make sure the door bell works, the driveway and pool deck are clean, the A/C filter is changed regularly, walls are free of nicks or are freshly painted and carpets are clean. It's the small, everyday details that often go overlooked but can bring piece of mind to a buyer because they see that your home is being maintained.

2.) Pre-Inspection. It's not a bad idea to have your home pre-inspected, especially if it is a second home or rarely used. You can head off any potential problems during the selling process if you take care of them before you put your home up for sale. Talk to your Real Estate Agent to see if one is recommended.

3.) Showing Your Home. Often I describe showing your home as though you are going to be entertaining. Make sure the house is clean, the lights are on, the doors are open (as long as it's not a hot summer day), the pool fountain is on and background music is playing. It always helps to set the right mood!

4.) Marketing. There is a lot to talk about here. It's important to know who your buyer is and target the marketing towards that buyer. Whether it's a second home, waterfront, luxury, retirement or first time home buyer, all have different needs and lifestyles so the marketing of your home should reflect it. Second, photos are extremely important in attracting buyers to want to come and see your home. They should be clear, attractive, have the proper lighting and show the best attributes of your home and neighborhood. Third is marketing exposure. Offline marketing such as print advertising and brochures should be in color. Online marketing should have a detailed description of your home with multiple photos sent to all of your Real Estate Company's global affiliates and referral networks.

5.) Negotiation. There is more to negotiating than just price. You and your agent should have a negotiation plan in place.

6.) Pricing. Correctly pricing your home right away is very important and when combined with all the items listed above should net you a quick offer. If you are priced too high then you will help your competition sell their home. You need to be priced in line with the market and your neighborhood.

7.) Transaction Management. So you followed all the items above and have a contract on your home. Now you need to hold on to it. Most home sales will have an inspection and appraisal (even cash sales). Having the proper systems in place are critical for a successful home closing. Speak to your agent about their transaction management systems.

If you are thinking about selling your home, our Team has the experience and will think "outside the box" to get your home sold in this tough real estate market. Call Scott Reynolds 772-321-2113 or email Scott@MyReynoldsTeam.com for more information. The Reynolds Team consists of Scott Reynolds, Realtor; Shane Reynolds, Realtor 772-321-4119; Janice Reynolds, Team Assistant. Visit our newly redesigned website www.MyReynoldsTeam.com to learn more about us!

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Things Sellers Do That Buyers Hate.

Thursday, March 29, 2012

Tags: The Reynolds Team, home buyers, Vero Beach Real Estate, Home Sellers, Dale Sorensen Real Estate, Scott Reynolds

After many years of working with buyers to find their dream home, we have run into many circumstances that make it an easy decision for buyers to move on and not consider a home. Sellers, here is a brief list of things that do not leave a positive impression on buyers.

1. Photos-lack of or misrepresenting. The majority of buyers search for homes on the internet so multiple attractive photos are important to catch their attention. Listings with poor quality or no photos are quickly passed over. Buyers think the reason for not having any photos is because the home is in poor condition. Conversely, when buyers see beautiful photos of an immaculate home they expect it to look the same when they come to see it. If you are going through the trouble to stage your home for photos, keep it that way for buyers. Otherwise, it puts the question into a buyers head, "what else am I being mislead about?"

2. Stalking Sellers-buyers hate being followed around a home by a homeowner pointing out every little detail. While it is great to see pride of ownership, buyers want to feel comfortable enough to explore the home on their own and express their true feelings. Most people do not want to offend the proud seller so they will give positive feedback even though they never intend to buy the home. The best advice is to leave the house and let the buyer explore the home to see if it best fits their needs.

3. Roaming Pets-things get real exciting when buyers enter a house and the cat or dog darts out forcing everyone to chase after him and corral him back into the house. Buyers want a stress-free experience when looking at a home so it is a good idea to take your pet out with you or contain them in a kennel during showings. It will allow for the buyers to really look at your home instead of worrying about trying to keep your pet inside.

4. Surprises-nowadays distressed sales have become more prevalent. Sellers may be forced to sell and therefore aren't going to be as accommodating or have the house in good condition for showings. Walking into a home and finding sellers asleep in rooms, cooking or dressing makes buyers want to run out of the house. It makes everyone uncomfortable when they feel as if they are intruding on a home.

The Reynolds Team works full time and has the knowledge and experience to help guide you through the home selling process. We want to make sure our clients homes have the best chance of selling in today's real estate market. Contact Scott Reynolds 772-321-2113 or Scott@MyReynoldsTeam.com for more information. The Reynolds Team consists of Scott Reynolds, Realtor; Shane Reynolds, Realtor 772-321-4119; Janice Reynolds, Team Assistant. Visit www.MyReynoldsTeam.com to learn more about us!

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7 Tips for Staging Your Home

Thursday, March 22, 2012

Tags: Scott Reynolds, Vero Beach Real Estate, Staging Your Home, Selling Your Home, The Reynolds Team

Make your home warm and inviting to boost your home's value and speed up the sale process.

The first step to getting buyers to make an offer on your home is to impress them with its appearance so they begin to envision themselves living there. Here are seven tips for making your home look bigger, brighter, and more desirable.

1. Start with a clean slate

Before you can worry about where to place furniture and which wall hanging should go where, each room in your home must be spotless. Do a thorough cleaning right down to the nitpicky details like wiping down light switch covers. Deep clean and deodorize carpets and window coverings.

2. Stow away your clutter

It's harder for buyers to picture themselves in your home when they're looking at your family photos, collectibles, and knickknacks. Pack up all your personal decorations. However, don't make spaces like mantles and coffee and end tables barren. Leave three items of varying heights on each surface, suggests Barb Schwarz of www.StagedHomes.com in Concord, Pa. For example, place a lamp, a small plant, and a book on an end table.

3. Scale back on your furniture

When a room is packed with furniture, it looks smaller, which will make buyers think your home is less valuable than it is. Make sure buyers appreciate the size of each room by removing one or two pieces of furniture. If you have an eat-in dining area, using a small table and chair set makes the area seem bigger.

4. Rethink your furniture placement

Highlight the flow of your rooms by arranging the furniture to guide buyers from one room to another. In each room, create a focal point on the farthest wall from the doorway and arrange the other pieces of furniture in a triangle around the focal point, advises Schwarz. In the bedroom, the bed should be the focal point. In the living room, it may be the fireplace, and your couch and sofa can form the triangle in front of it.

5. Add color to brighten your rooms

Brush on a fresh coat of warm, neutral-color paint in each room. Ask your real estate agent for help choosing the right shade. Then accessorize. Adding a vibrant afghan, throw, or accent pillows for the couch will jazz up a muted living room, as will a healthy plant or a bright vase on your mantle. High-wattage bulbs in your light fixtures will also brighten up rooms and basements.

6. Set the scene

Lay logs in the fireplace, and set your dining room table with dishes and a centerpiece of fresh fruit or flowers. Create other vignettes throughout the home-such as a chess game in progress-to help buyers envision living there. Replace heavy curtains with sheer ones that let in more light.

Make your bathrooms feel luxurious by adding a new shower curtain, towels, and fancy guest soaps (after you put all your personal toiletry items are out of sight). Judiciously add subtle potpourri, scented candles, or boil water with a bit of vanilla mixed in. If you have pets, clean bedding frequently and spray an odor remover before each showing.

7. Make the entrance grand

Mow your lawn and trim your hedges, and turn on the sprinklers for 30 minutes before showings to make your lawn sparkle. If flowers or plants don't surround your home's entrance, add a pot of bright flowers. Top it all off by buying a new doormat and adding a seasonal wreath to your front door.

Reprinted with permission of the National Association of Realtors®. Copyright 2010. All rights reserved.

Consisting of two agents and one assistant, The Reynolds Team of Dale Sorensen Real Estate has the marketing and experience and will think "outside the box" to get your home sold. Call Scott Reynolds 772-321-2113 or email Scott@MyReynoldsTeam.com for more information. The Reynolds Team consists of Scott Reynolds, Realtor; Shane Reynolds, Realtor 772-321-4119; Janice Reynolds, Team Assistant. Visit our newly redesigned website www.MyReynoldsTeam.com to learn more about us!

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Now is the Time to Buy, and Here's Why!

Friday, March 16, 2012

Tags: The Reynolds Team, Vero Beach Real Estate, Interest Rates, Dale Sorensen Real Estate, home buyers, Sellers, Scott Reynolds

Mortgage rates are still at an all time low between 3.875%-4.5% for a 30 year fixed rate! Which means money is cheap to borrow. As a home seller, understanding the lending environment is a useful tool to show buyers the importance between costs and rates on financing. Sometimes it makes it a win-win for both sides. Now is a great time to take advantage of the still amazingly low interest rates because they will not stay at these all time lows forever!

Most homeowners now are selling out of necessity, meaning that if they do not need to sell, they are taking their home off the market and waiting until the market turns around. This combined with the steady home sales over the past year has caused home inventory to drop slightly so there are less homes available to choose from than a year ago. The good news for buyers is that prices are still decreasing and there are still plenty of great deals available!

The cyclical nature of the market shows that we are around bottom and will be headed up. Just look around, neighborhoods that once looked like ghost towns are starting to become more attractive and welcoming as people move into the once unoccupied homes. Once communities start becoming more inhabited and beam pride of ownership, they will become more desirable therefore causing home prices to increase (meaning we are headed up in the cycle). So why not buy now while we are in the bottom of the cycle and home prices are low?

Consisting of three agents and one assistant, The Reynolds Team of Dale Sorensen Real Estate has the expertise and resources to help you find the best home to fit your needs. Our Team will show you creative ways to maximize your budget, find the best values, and shop for a mortgage. If you are thinking about selling your home, our Team has the experience and will think "outside the box" to get your home sold in this tough real estate market. Call Scott Reynolds 772-321-2113 or email Scott@MyReynoldsTeam.com for more information. The Reynolds Team consists of Realtors Scott Reynolds772-321-2113 and Shane Reynolds 772-321-4119 and Janice Reynolds, Team Assistant. Visit our newly redesigned www.MyReynoldsTeam.com to learn more about us!

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Pending Home Sales in Vero Beach Soar!

Thursday, March 08, 2012

Tags: Vero Beach Real Estate, The Reynolds Team, Home sales, February Home Contracts, Dale Sorensen Real Estate, Scott Reynolds

The chart above shows that pending single family home sales in Vero Beach dramatically increased in February versus the same time last year. In February 2011 there were 174 homes under contract and in February 2012 there were 289 homes under contract. That is 115 more homes under contract which is a 66% increase!

Why the huge rise in homes under contract? Buyers are finding that home values in Vero Beach are a bargain. They have been able to sell their property in their hometown, freeing them up to make a purchase here in Vero Beach. These pending home contracts will result in higher home sales in March and April. This will cause the number of quality inventory to start to diminish which will begin putting some pressure on price increases!

Consisting of two agents and one assistant, The Reynolds Team of Dale Sorensen Real Estate has the expertise and resources to help you find the best home to fit your needs. Our Team will show you creative ways to maximize your budget, find the best values, and shop for a mortgage. If you are thinking about selling your home, our Team has the experience and will think "outside the box" to get your home sold in this tough real estate market. Call Scott Reynolds 772-321-2113 or email Scott@MyReynoldsTeam.com for more information. The Reynolds Team consists of Scott Reynolds, Realtor; Shane Reynolds, Realtor 772-321-4119; Janice Reynolds, Team Assistant. Visit our newly redesigned website www.MyReynoldsTeam.com to learn more about us!

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