Stay or Go?

Home Improvement Ideas Worth Your Time Whether You’re Packing Up or Staying Put.

For those out there that love ALL of the seasons of Minnesota the colder months are the perfect time for do-it-yourself or affordable interior improvement projects that can give an older home new life. BUT – for those of you that are considering a move, the following list works for you, too–particularly if you’re looking for projects that can freshen up a space as you’re prepping to put it on the market.

Lighting
Replacing an ancient light fixture with a new design is an afternoon project that can have dramatic results. A new multi-bulb chandelier can turn a dark, forgotten space into one that is bright and renewed. Make sure to add a dimmer switch for maximum ambience control.

Paint
While changing wall colors might be an obvious cold weather project, keep in mind those old bookshelves, the fireplace, and even your kitchen cabinets which might be deserving of a new coat of paint. Hiding tired wood stains and adding dramatic color can completely transform the feel of a space. Make sure you sand previously-stained woods to make sure the paint sticks!

Plumbing
Those who love to work on puzzles in the colder months might also enjoy updating your fixtures in your kitchen or bath. Switching your kitchen sink faucet to a new, retractable model (or even a no-touch model) can make your kitchen work and look better. In a bath, a new faucet fixture combined with a new mirror or paint can breath new life into an old space.

Looking for more ideas? Try THIS ARTICLE from Netflix’ Bobby Berk. It’s got some great inspiration for updates that can help convert a house into a dream home. Need help with the work? LET US KNOW – we can recommend trusted contractors who can lend a hand.

 


As the leaves fall and colder weather moves in, many experienced homeowners ask themselves that annual question “Is this Minnesota winter really for me?” We’ve had many recent conversations with people going through this decision-making process. If we move, do we sell first or buy? Should we downsize to a condo or smaller home? Should we get the heck out of here and head to warmer climate? When’s the best time to put our home on the market?

The Kim Pease Team can help ask the right questions that will assist you in navigating your next move, whether that be, to a smaller home, a condo, or a move to another state.

Contact us if you or someone you know might need some guidance.

The Truth About Selling in the Winter

If you’re thinking homes don’t sell in the winter, think again.

 

  

Winter Buyers are Motivated.

In 2017, more homes sold in November and December than in July & August. People that are looking to buy a home during this time are motivated. They might have a pressing matter that is pushing them to want to close on a house quickly such as relocation or a major life change forcing them to move.

Less Competition & Faster Sales.

Overall, winter inventory is lower. That can mean quicker sales. In 2017, homes sold faster in November and December than in July & August.

 


Contact us if you or someone you know might need some guidance regarding the best time of year to go to market.


*Source: InfoSparks

Strategies for Multiple Offers

When a listing receives multiple offers the biggest offer is always tempting, but multiple offer scenarios need to be approached carefully by both the seller and the buyer. Sellers should be careful to review all details in every offer as the highest price is not always the sure bet. Same for buyers: make sure your big offer is smartly positioned and avoid some red flags that might scare off the seller.

Here’s a quick checklist:

Closing Cost Padding – The big offer price on page one may look high, but if the seller is asked to pay part of the closing costs that may go against the buyer for two reasons. 1) it reduces the overall net to the seller; and 2) with the inflated price a seller may get concerned about the house appraising and choose a buyer with a similar “net” price who has not padded the price with closing costs.

Financing Terms – Not all terms are equal. In order of preference: cash, more than 20% down, 20% down, 15% and so on. Better terms typically result in a smoother close.

Letters to Sellers – Be careful on this one. Before you provide a heart-felt letter about your beautiful family with two kids make sure you know the sellers’ situation. If they are divorcing, for instance, this letter may not have the effect you hoped for!

Inspections – Most buyers today still include an inspection on a home, but in any deal – particularly one with multiple offers – an offer that waives the inspection can be more enticing to a seller. Despite how common inspections are, even in older homes that might typically warrant an inspection, in a multiple offer situation the phrase “contingent on inspection” can send message of hesitance to the seller. A buyer can cancel during the inspection period for any reason, including “2nd thoughts,” and sellers know this. That said, before you consider removing an inspection to win a house, make sure you are confident in what you are buying, and have some dollars set aside for surprises that may come up. Or better yet, if you can, bring a contractor or an inspector with you to a showing – before you make the offer.

Waive the Radon Test and Do it After Closing – Radon tests are almost always included now during buyers’ inspections. A good listing agent will prepare a seller for the cost to mitigate upfront which can run from anywhere from $1,200-2,000. If a house shows up with radon this is almost always an automatic that goes back to the seller to put in a system. As a buyer, if you are willing to take care of radon testing after the closing, you could put your offer at a significant advantage, with it potentially not costing you anything since there is a chance that the radon levels are fine.

Ask Questions – We make sure to find out any information we can that can give our clients an advantage: What’s the seller’s situation? Is there a closing date that is preferable? Are there any other concerns of the seller? (i.e..they may not want to move the pool table, include it, so the seller doesn’t have one more thing on their list they have to worry about.

When market inventory is low, multiple offers are common. The guidance of an experienced team can be the difference that leads to a successful bid and smooth close. Contact us if you or someone you know might need some guidance.