8 Mistakes to Avoid When Listing Your Home for Sale

When listing your home for sale, you have a lot on the line. A single mistake could cost you the sale of your home, particularly when you do something that drives away potential home buyers before they ever see your home in person.

Some of the biggest mistakes sellers make are actually small in the grand scheme of things. So what pitfalls should you avoid when you’re putting your home on the Ohio real estate market.

1.) Including a virtual tour. Virtual home tours don’t let people experience the full spectrum of your home’s details. There are too many “little things” that can cause potential buyers to scratch your home off the list without giving it a second thought, and a virtual tour can highlight all of them.

2.) Being careless about your listing photos. Good listing photos don’t include personal items, clutter or boxes. It’s okay to have a photo with your furniture in it (a dining room table set for a dinner party is a great way to show that your home is perfect for entertaining, for example), but a curio cabinet overflowing with collectible trinkets is probably a bad idea. Further, your listing photos need to be sharp, clear and in-focus – and they need to be high-resolution.

3.) Allowing yourself to be emotionally involved in the transaction. It’s probably a good idea to start viewing yourself as a third-party businessperson when you put your home on the market, and that means looking at the entire transaction in black-and-white terms. If you’re emotionally involved in the sale of your home, you won’t be able to make the most rational decisions. For example, the color you chose last year for the bedroom might not be right for the new buyers; if you’re emotional about it, you may resist the idea of repainting because that was the color that worked for you.

4.) Setting a price based on what your home is worth to you, rather than what the market will bear. Again, emotional detachment is important here. We all want to make a profit on our homes, but when you’re selling your house, you need to be mindful that what you think it’s worth and what it’s actually worth may be two very different prices.

5.) Trying to hide big problems. Smart buyers will have a home inspector check out the property, so if you’ve hidden a big issue, it will come out then (and it will probably cost you the sale). You can either fix the issues before you put your home on the market or give buyers a credit for fixing it themselves.

6.) Neglecting to stage your home. You don’t have to hire a professional home stager, but you do have to minimize clutter, fix small issues and in some cases, apply a fresh coat of paint. You want people to envision their belongings in your home, but they can’t do that if your home has an extremely “lived-in” look.

7.) Not going out of your way to accommodate potential home buyers. It’s not easy, but you need to clean your home and make it show-worthy every time someone wants to see it… even if it’s inconvenient for you.

8.) Working with the wrong Realtor. Take time to carefully choose a Realtor with a proven track record of listing homes and selling homes in your area. Enlist the help of a real estate professional who has extensive knowledge of the local real estate market and sales expertise.

Are You Ready to List Your Home For Sale?

Ohio Real Estate Guys
28 E Rahn Rd #213
Kettering, OH 45429
(937) 490-9743

Buying A Home? Mortgage Rates Still Low; Increasing Soon

Are you in the market to buy a home in the near future? If the Federal Reserve raises interest rates, will that affect your decision to obtain a home loan and buy a house in 2015?

As the Federal Reserve signals it’s intention to raise interest rates, borrowers are scrambling to get deals done now. There’s been a big influx of home loan applications in 2015, driven by people looking to either buy a home or refinance their current home in order to lock in lower interest rates.

On average, a 30-year home mortgage loan fetches a 3.8% interest rate now, according to Freddie Mac. That number is down from a year ago when interest rates were closer to 4.3%. The Federal Reserve cut rates to historic lows in 2008 in part to reset the housing market, which collapsed when the housing bubble burst.

With the Federal Reserve likely to raise interest rates this year, it will force a mortgage rate hike, experts say. That said, it’s uncertain if that will cause a decrease in home sales in the U.S. housing market.

The 10 Mortgage Commandments When Buying A Home

Home Loan or Mortgage Loan in Dayton Ohio

When buying a home and applying for a mortgage, you should always follow a few important rules. Once you’ve been pre-approved for a home loan, searched homes for sale, submitted an offer to purchase and have an accepted contract, you must now secure the mortgage loan.

Just because you have a pre-approval letter from a mortgage professional (lender) doesn’t necessarily mean that you are able to secure the mortgage loan and close on the home. Remember this: your home loan is never secured until you’ve actually closed on the home. In order to ensure you’re home loan process goes as smoothly as possible, please follow these 10 commandments.

1) Thou shalt not change jobs, become self-employed or quit your current job.
2) Thou shalt not buy a car, truck or van (or you may be living in it).
3) Thou shalt not use charge cards excessively or let your accounts fall behind.
4) Thou shalt not spend money you have set aside for closing costs.
5) Thou shalt not omit debts or liabilities from your home loan application.
6) Thou shalt not buy furniture for your new home before closing on your new home.
7) Thou shalt not originate any unnecessary inquiries into your credit.
8) Thou shalt not make large cash deposits into your bank account.
9) Thou shalt not change banks, bank accounts or financial institutions.
10) Thou shalt not co-sign a loan for anyone.

If you’re buying a home in Dayton Ohio or surrounding areas and would like to speak to a mortgage banker please contact Matthew Edwards at Citizens Home Loans of America, Inc. | NMLS# 1026303 | OH# LO.024146.001

Matthew Edwards – Mortgage Banker
7601 Paragon Road #202
Dayton, OH 45459
(937) 607-3741