A Message to Our Clients Regarding COVID-19

Posted by Toth Team Worldwide on

What a crazy Spring it has been!

Our main concern is the health and wellbeing of our staff and clients. Thus, we are adhering to the CDC’s recommendations regarding social distancing and other precautions.

For all of our clients, it means we are prequalifying in a much different way by:

• Asking all parties if they have traveled prior to making an appointment

• Asking if they have had any illness or symptoms before we meet with them or show any homes

• Asking buyers to limit showings to a group of two

• All parties entering shall wear gloves, masks, and booties to minimize contact and  maintain distance  – complying with legal requirements.

• Asking the sellers to turn lights on & leave them on so this limits touching switches, etc.

• Disinfecting the office once a day so staff can work in a safe environment

• Conducting our team meetings & trainings virtually so the number of employees at the office is limited

• Offering all virtual tours online (our agents are happy to do a video prior to a personal showing)

• Reminding clients that closings will take longer as lenders are having issues keeping up due to refinances. We now have a limited number of appraisers wanting to continue to go in & out of homes across the country. Many offices are currently limiting their staffing

• Conducting most closings digitally at the client’s request (See more about Your Virtual Home Buying Process below.)

We are not sticking our head in the sand, but we are also not creating panic

Housing – buying, selling, and renting – is still a necessity. We still have clients who are moving to or from our market area. Despite all of the uncertainty, real estate as a whole is one industry that has not experienced a 30% drop.

Additionally, given that the real estate industry as a whole was much stronger at the onset of our current crisis than before the 2008 recession, we will emerge from this economic downturn stronger. Interest rates are at historic lows. There are still plenty of buyers looking to purchase. Until the government mandates a temporary cessation of business, we are 100% operational.

That said, we have seen a slowdown. This will likely continue for our industry, as well as other sectors of the economy. But, we will continue to support small businesses and our community to the best of our ability.

Please reach out to us with questions, concerns, or any needs that you might have.

Together, we will arise from this crisis stronger.

See below for more resources to help you through this time.

Resources:

SBA– Offering very low rates for businesses now in need

United Way (Washtenaw County)

Extensions For Tax Payments

Deferment on Student Loan Payments

Government Monies for Those Who Qualify

National Mortgage Payment Relief Efforts

 

Want to Buy a Home? Search All Homes

Want to Sell a Home? Get a Home Value Report

 

 

“

Together, we will arise from this crisis stronger

”

 

If you have any other real estate-related questions, feel free to reach out to our team via phone or email. We look forward to serving you.

Improving Your Home for Resale Value and Personal Enjoyment

Posted by Toth Team Worldwide on

How can you improve your home for resale value and personal enjoyment?

We’re joined by an expert today to give you an idea.

Want to Buy a Home? Search All Homes

Want to Sell a Home? Get a Home Value Report

 

If you’re a homeowner and you’ve found a fixer, what should you improve? Or if you have a house you want to get ready for the market, what should you do? Today we’re joined by Leslie Cascino, founder and principal designer of Bonnie Wu Design, to help answer these questions for you. To give you a guideline, we’ll show you a complete before/after redesign of a sample home she just completed.

Follow along in the video above to see the full tour. For your convenience, we’ve provided timestamps so you can skip ahead to various sections:

1:39 – Swapping the living room and dining room to improve the space for resale value

2:45 – Rebuilding the fireplace for resale value and personal enjoyment

3:37 – Adding square footage to the new living room

4:11 – How the windows at the back of the house extend the living space

4:33 – Opening up the kitchen to the rest of the house and orienting it toward the backyard

5:36 – Dropping the plywood panels and installing overhead lighting

6:17 – Converting the den into a home office and guest bedroom

6:58 – Creating the master suite

7:54 – Wrapping things up

If you have any home design questions for Leslie, go ahead and visit her website here.

If you have any other real estate questions, don’t hesitate to give us a call or send us an email. We’d love to help you.

Options for Sellers Whose Homes Don’t Appraise

Posted by Toth Team Worldwide on

If you’re a seller, what happens if your house doesn’t appraise?

Want to Buy a Home? Search All Homes

Want to Sell a Home? Get a Home Value Report

 

 

What happens if your home doesn’t appraise?

Here to help me discuss today’s topic is Steve Stork of Summit Funding. Steve has been working with us for about 10 years, and we consider him an expert on this subject. Together, we came up with a list of things that can happen if your house doesn’t appraise:

  • We can split the value.
  • We can ask the buyer to bring cash.
  • We can lower the price and then close.
  • We can choose not to close. More often than not, you’ll see a section on an appraisal report entitled “pending sales,” which refers to the comparable homes to yours that, like yours, are under contract. Because they don’t yet have a sales date, pending sales are not given any weight in terms of the value of your property. So, by calling that listing and finding out where these pending sales are in the process may give you some insight into a potential comparable you can add to the mix once it closes. At that time, you can send the appraiser back out to the home to reinspect the property and use the comparable to help calculate the overall sales value.
  • We can wait for more comps to sell if prices are going up.
  • We can also refute the appraisal if the buyer will cooperate. If you have any additional comparables the appraiser might have missed, you could bring those to the attention of the appraiser, possibly earning some value for your property.
  • We can ask the buyer to reapply with a different lender.
  • If it was an FHA appraisal, the appraisal sticks to the property for four months. Unfortunately, there’s no way to dispute that appraisal; you just have to wait until that period is over and to take another FHA offer.

 

“

Because they don’t yet have a sales date, pending sales are

not given any weight in terms of the value of your property.

”

 

If you have any questions for us, feel free to reach out. We are here to add value to your real estate experience.

How Pet Owners Can Still Sell Their Homes for Top Dollar

Posted by Toth Team Worldwide on

As a pet owner, there are three tips you must remember in order to sell your home for top dollar.

Want to Buy a Home? Search All Homes

Want to Sell a Home? Get a Home Value Report

 

How do you prepare your for-sale home if you have pets?

The good news is, many homebuyers are out there looking for a pet-friendly home. Two out of three of us have pets, and 61% of pet owners say they have trouble finding a home that’s a good match for their pet. In fact, a recent survey said that 31% of pet owners won’t make an offer on a home if it doesn’t suit their pet. In other words, if your home is attractive to pet owners, it will be available to a larger pool of buyers.

On the other hand, 67% of Realtors believe having a pet in your home makes it harder to sell. So what can you do? Here are the three top tips we recommend:

1. Repair any damage. Floors, walls, doors, and the yard are typical areas pets love to chew, scratch, and dig up. Repairing this damage is an investment that will pay for itself many times over because it will earn you a higher sale price.

2. Hire a professional to remove pet odors. Many pet owners are less sensitive to odors in their homes than prospective buyers are, which is why you should hire a professional cleaning crew to clean any carpets, rugs, or upholstery that have absorbed pet odors. Once you’re done cleaning, ask a friend or Realtor to perform a sniff assessment to see if the job is done.

3. Take your pet out during showings. Some people are afraid of animals. Others might be allergic. Regardless of the time, money, and effort you put into cleaning your home, many buyers may still be prejudiced if they know a pet lives there. Also, your pet might be scared with so many strangers in your home. Additionally, remove any pet objects such as toys, food bowls, or scratching posts.

 

“

You’ll be able to sell your home for top dollar,

whether your buyer is a pet owner or not.

”

 

By following these three simple guidelines, you’ll be able to sell your home for top dollar, whether your buyer is a pet owner or not. We cherish our pets and our homes, and we hope this merges both so you can have a hassle-free home sale as well. You can also find a pet sitter instruction form here.

If you have any other questions or concerns regarding your home sale, don’t hesitate to reach out to us. We’d love to help you.

How Do Agents’ Services Impact Commissions?

Posted by Toth Team Worldwide on

How do an agent’s services impact their commissions? Let’s discuss.

Want to Buy a Home? Search All Homes

Want to Sell a Home? Get a Home Value Report

 

We’re on-site at the old Inca Ruins in Peru, so we thought we’d spice up today’s message on commissions by adding some footage of Peru’s breathtaking scenery.

To start, let’s define commissions. Commissions are a fee for service paid by the home seller and are based on a percentage of the total sale price. Different agents offer different services, which can include, but are not limited to:

  • Market analytics
  • Photography
  • Standard or trademark marketing plans
  • Videography
  • Staging
  • Geo-farming
  • Digital retargeting
  • Inside and outside sales
  • Calls to prospective buyers
  • And many more concierge services

If you’re curious about the range of services we offer, you’d like to see our commissions menu, or you have any other questions related to real estate, give us a call at (734) 669-0337 or send us an email at [email protected]. We look forward to helping you!

Sellers: Why a home Warranty? Presented by Toth Team

Posted by Toth Team Worldwide on

Stacey Kraft with Home Warranty of America is with me today

to answer some questions on all things seller home warranties today.

If you’re a buyer looking at a home warranty, click here!

Want to Buy a Home? Search All Homes

Want to Sell a Home? Get a Home Value Report

 

Today’s topic is an exploration into home warranties for sellers and Stacey Kraft from Home Warranty of America is joining us today to lend her expertise in this area. If you missed our first conversation about buyer warranties, take a look here!

Q: First, what is a home warranty?

A: Home warranties are going to cover the mechanical systems in your home, and there’s an acronym that will make it easy to remember each of them: P.E.A.C.H., which is broken down into Plumbing, Electrical, Appliances, Cooling, and Heating.

Q: If I’m a seller, why would I want all of that to be covered?

A: Protection for home sellers is necessary because hiccups can sometimes occur without warning, whether they’re mechanical or otherwise. The last thing a seller wants to worry about when their home is for sale is shelling out money for repairs.

Q: An example of that might be your hot water tank going out. What would a new hot water tank ordinarily cost?

A: I see claim notices every day, and on average, a water heater will run you about $1,000.

Q: A warranty, then, will give a seller peace of mind?

A: Yes, the security blanket that a home warranty offers gives the seller peace of mind, and not only that, it’s a good foundation for when the buyer takes over. Since we have free seller’s coverage on the home, we have a history with it.

 

“

Protection for home sellers is necessary.

”

 

Q. From the point of closing and beyond, how long will that coverage last for the buyer?

A: The new-buyer plans are for 13 months or you can buy a two- or three-year plan up front if you wish to.

Q. If an issue were to arise with the home, what would the seller do from there?

A: The seller will call our 800 number and file a claim. Then, our claims representative will set up a time for a contractor to come to the home and assess the situation. If it’s determined that the repair can be accomplished in a cost-effective manner, we’ll repair it. If the issue is beyond repair, we’ll replace the item.

Stacey and Home Warranty of America have always serviced our needs in a highly competent way, and have been quick to action in getting our claims addressed. Without a doubt, Home Warranty of America is a wonderful resource for you if you’re selling your home.

If you have any questions for Stacey, go ahead and give her a call at (248) 330-1076. And if you or someone you know would like help with any real estate needs, please give us a call at 866-OWN-THIS or email us at [email protected]. We look forward to hearing from you!

4 Ways to Make Buyers Fawn Over Your Home

Posted by Toth Team Worldwide on

If you’re ready to sell your home, there are a few things you can do in order to make buyers fall in love with it.

Want to Buy a Home? Search All Homes

Want to Sell a Home? Get a Home Value Report

 

Are you ready to make a move? There are four ways to make buyers fall in love with your home.

First, make it move-in ready—think clean, organized, and clutter-free spaces. Second, bring in some plants, because greenery adds instant style.  Third, up the “dream home” factor and highlight any unique features. Lastly, don’t forget to call your local Keller Williams agent!

If you have any questions or if you’d like to get started with the home selling process, don’t hesitate to give us a call. We’d love to help you.

Pricing Your Home Correctly in Ann Arbor

Posted by Toth Team Worldwide on

Are you ready to sell your home?

Want to Buy a Home? Search All Homes

Want to Sell a Home? Get a Home Value Report

If you would like to sell your Ann Arbor area home this spring, you are most likely already thinking about what your asking price should be. If you’ve already had your home on the market for a while with no success, perhaps you’re wondering what you might be doing wrong. There are lots of pricing misconceptions, and Toth Team Worldwide Network is here to set the record straight!

The simplest breakdown is this: Price + Exposure = Sold. The price is determined by the value of your property. The value is determined by what buyers are willing to pay and what sellers are willing to accept in today’s market. Buyers make decisions based on what other similar properties recently sold for in your area.

The value of your home is not determined by what you paid for the house when you bought it, what you feel you need to get for the house, what you want to get for the house, what your neighbors say you should get for the house, what another agent says, or what it costs to rebuild today. If you price your home based on one of these factors, it may sit on the Ann Arbor real estate market with little to no offers.

It’s important to price your home to sell right when listing because the longer the home sits on the market, the less interest it will gain from potential buyers. On average, most offers are received in the first three weeks on the market. By the fourth week, they start to fall. This is when you’ll want to reevaluate your listing price. The longer your house sits on the market, the more price reductions you may have to offer. This could result in a value loss greater than if you had priced it correctly at the beginning.

 

“

Price + Exposure = Sold.

”

 

On average, 60 percent of potential buyers look at properties that are priced at market value from the beginning. If you price it 10 percent above market value, 30 percent of buyers will look at it. If you price it 15 percent above, only 10 percent will look at it. Similarly, if you price it 10 percent below market value, 75 percent of buyers will look at it, and so on.

When you work with Toth Team Worldwide Network to sell your house, we’ll give you examples of the competition, both active and recently sold. We also explain the pros and cons of listing over, under and at the suggested sale price. For example, at the suggested sale price, buyers will notice your home, your home will be found easier in searches, it will bring buyers in, and you won’t have issues with an appraisal.

Whether it’s a buyer’s market, seller’s market or balanced market also makes an impact on home prices. You can find more information about all of this, along with graphs to help you understand it, in this Pricing It Right pamphlet we’ve created for you.

4 Ways to Make Buyers Fall in Love With Your Home

Posted by Toth Team Worldwide on

Don’t wait to call your local Keller Williams agent.

Want to Buy a Home? Search All Homes

Want to Sell a Home? Get a Home Value Report

 

Are you ready to make a move? There are four ways to make buyers fall in love with your home so you can sell it quickly and for top dollar. First, make it move-in ready—think clean, organized, and clutter-free. Second, bring in some plants—greenery adds instant style. Third, up the “dream home” factor by highlighting any unique features. Lastly, call your local Keller Williams agent!

What Are Absorption Rates and How Do They Affect You?

Posted by Toth Team Worldwide on

Looking to sell your Ann Arbor Home? Get a FREE home value report

Looking to buy an Ann Arbor Home? Search all homes for sale

Ann Arbor is quickly becoming a very attractive place to live. We have one of the hottest real estate markets in the nation (the ninth hottest, to be exact).

We’re seeing 10% more homes listed this year, and they’re also selling for 2-3% more than they were last year. This means that you stand to make a nice profit if you choose to sell a home this year, and if you buy you can expect some nice appreciation on your investment.

6.9

One major factor to look at before you sell in Ann Arbor is the absorption rate. The rate right now is 6.5%, and this means that if no more new homes came onto the market, it would take 6.5 months for those homes to sell.

However, this is only part of the picture because certain neighborhoods and certain price ranges will be worth more than others. That’s why if you want more detailed information on this market you should contact us.

Now is the time to get into the market before it gets saturated with other buyers and sellers. Please reach out to me for more information.