Summer Sale Tips and Tricks in Ann Arbor

Posted by Toth Team Worldwide on May 10, 2014

Spring and summer alike bring Ann Arbor residents outside to enjoy the weather and kiss the long winter goodbye. Selling your home this summer is not only a good decision due to market conditions, but also because more foot traffic occurs during the summertime. Kids are out of school and families prefer to relocate during this time before school starts. Keep in mind that even though this is a seller-friendly market, you still need to keep your home in tip-top shape in order to sell. Follow our tips below in order to create a summer friendly home for incoming buyers.

Keepin’ it Cool

Prospective buyers are usually ready to buy and buy quickly in the summer due to relocation and wanting to buy before the school year. This means that little things will either win them over or turn them away, due to how quickly they need to make a decision. Make it easy for them to choose your home by creating a comfortable and cool summer atmosphere. Adjust your air conditioner so the temperature is more comfortable inside than outdoors, or use portable fans to increase air flow. The point is to keep the air inside circulating so your visitors will want to take time to explore your home and its features.

Going Green and Staying that Way

Make your home look welcoming and warm by keeping the lawn mowed and trimming shrubs. A simple trick to add dimension to your front yard is to cut your lawn on the diagonal. Plant flowers to give your property an inviting appearance. This maximizes the curb appeal and creates interest.

Bright Whites

You want to show off your home to its full potential and in order to do so, the lights should be kept on. Another way to brighten up your home is to re-paint in neutral tones or whites. This is an easy fix that does double duty to brighten up your home and create a clean palate for buyers to make their home. If you have heavy drapes, remove them since they make a room look smaller. Pull-up blinds or use tie-backs to let in more sunlight in.

Summer Decor

If you have painted the walls neutral colors or whites then a great way to bring in some color is through accents such as pillows, bowls, flowers or picture frames. Just a pop of color goes a long way and an easy way to incorporate natural tones is placing house plants throughout. Blues and greens go well with neutral tones and create a serene atmosphere for incoming buyers. Sheer curtains and textured throw pillows can add emphasis to any room. Combining other elements such as mirrors to add more light and new patio furniture for summer entertaining make the home more welcoming.

Flexible Summer Schedules

In the summer even though children may be out of school, the parents will necessarily have all the time in the world to look at homes. Everyone from incoming grad students and professors to relocating families and young professionals has schedules all over the board. Ready yourself for this by creating a short-notice plan. This plan will include a system as to what to do when you have the opportunity for a last-minute showing and will include where to stash kids or pet toys for example. Pre-planning and organizing your home will allow for these situations. Some buyers schedules make it necessary to look at homes at twilight or later in the evening after dinner, so be flexible about scheduling showings. Most buyers feel much more comfortable if the owner isn’t around so make that happen as much as possible.

Selling your home this summer will be a breeze if you take the right steps. If you and your agent have priced the home wisely, prepared your curb appeal and made necessary updates, you are well on your way to selling your home. Make sure to not forget the little details mentioned above, because in the end, they make all the difference. If you have more questions about selling your home this summer, please don’t hesitate to ask. Our Definitive Guide to Selling Your Home is also an excellent way to fill in the blanks of the selling process.

Ann Arbor Real Estate is Top Investment Option

Posted by Toth Team Worldwide on April 30, 2014

Ann Arbor has been a mainstay for growth and opportunity over the years, and today is no different. The technology business is booming, the University provides constant growth and new construction is all around. Nationwide the rising home prices and agreeable interest rates have created the perfect environment for sellers this spring and summer. Even more so, those hoping to sell their home and either move up or downsize are staring into a market filled with opportunity. The news is saturated with headlines announcing the return of real estate as a top investment for the middle class and millionaires alike.

The chart above shows that over the years real estate investments prevail with a steady return on investment. If you plan to own your home or use it as an income property for at least ten years, then any fluctuations in the market usually prove to work through the ups and downs. The bottom line is, if you are interested in selling, but are not sure, pay attention to the buzz. The real estate market is a perfect environment right now for sellers and the numbers are there to prove it.

Give us a call if you have any questions about your local market in or around Ann Arbor, or are hoping to sell over the summer. Our Definitive Guide to Selling Your Home is also an excellent resource for first-time home sellers or those needing to fill in the blanks.

How to Sell Ann Arbor’s Fixer-Upper Properties

Posted by Toth Team Worldwide on April 26, 2014

Sellers in Ann Arbor, MI typically prepare a home for sale by making needed repairs and painting. Occasionally more expensive updates such as new carpeting or kitchen counter tops are necessary, as well as fine tuning landscaping for maximum curb appeal. Not all sellers have the financial resources, physical ability or will to fix up their home in order to market it competitively with the rest of the updated homes in their area. In Ann Arbor, the real estate market is strong enough to include fixer-upper listings as part of a healthy selection of real estate inventory.

Pricing a Fixer-Upper

In order to get a quick sale at the best price for a fixer-upper, it is important to select a real estate professional who meets the needs and expectations of sellers of this type of property with honesty, understanding and respect. Real estate agents are vital in these situations in order to pool all resources to set the best price. The correct pricing of fixer-upper properties is even more important than the pricing of homes that are more marketable because there are fewer buyers and less financing options in this category. A comparative market analysis using nearby, comparable homes in better condition will then allow you to make realistic allowances in the asking price. When pricing a fixer-upper offsetting deficiencies is necessary in order to arrive at an effective asking price.

Market to the Right Buyers

There is a special group of home buyers who are interested in making a home their own. Fixer-upper buyers are not just looking for bargains, they know they are going to customize whatever home they buy and many other factors are more important than fancy amenities. Most fixer-upper buyers have a good understanding of structure and repair costs. In order to find these buyers your agent should prepare a marketing plan catered to buyers specifically willing to do some work in their new home in exchange for a price that reflects these needed changes.

Things to Remember:

Price the home competitively: The target market for fixer-uppers includes knowledgeable buyers who understand the cost and work involved in renovating property. A home that is fairly priced will be seriously considered.
Make the property as inviting as possible: Clean the interior and get rid of offending odors. Mow lawns, trim bushes and sweep the porch for curb appeal and pleasant entry.
Be open and honest about defects: Prior to listing your home, get a home inspection in order to provide a detailed and honest approach to informing buyers.

Selling a home as a fixer-upper is the most feasible path for some property owners. Quick and clean sales as fixer-uppers will produce the best outcomes for sellers who are unwilling or unable to repair the homes themselves. If you are still unsure if these sales can garner a price you are happy with please don’t hesitate to contact us with questions or concerns. If you are still researching the the home sale process in general, check out our eBook: The Definitive Guide to Selling Your Home.

4 Reasons Why Springtime is for Sellers

Posted by Toth Team Worldwide on April 8, 2014

Why is Springtime 2014 for Sellers?

When selling a home, many people obsess about curb appeal or paint colors to boost home value, but these things are trivial when compared to the real determinate of value: time. Experts in real estate across the United States say the outlook for home sellers is highly positive this spring, and Ann Arbor leads the way. With the price of homes increasing along with new rules for borrowers, buyers are anxious to purchase quickly. If you’re thinking about selling your home, now is the time.

1. Rising Home Prices

The average residential price in Ann Arbor jumped 22 percent from last year. This time last year the median price was $227,500 and rose to $240,000. The residential property assessments and taxable values for 2014 increased the average home values for a 6.1 percent rise from springtime of last year. In other words, prices are rising and you have a much better chance this year of getting a price you are pleased with over last year.

2. Low Inventory

A drop in available houses for sale has buyers in a scramble to find the right house. This trend will start to decrease sales, not because there are no home buyers, but because there are no homes to buy. Inventory usually begins to rise in January and February; however, this year it’s down 22 percent since March. The harsh winter could have prevented sellers from listing, which is causing a shortage of homes. The number of active buyers waiting for the right home far outnumbers the available homes for sale.

3. New Mortgage Rules For Borrowers

The Consumer Financial Protection Bureau issued new mortgage rules in January 2014 that are meant to decrease the risk of defaults and foreclosures. Home buyers must now prove they have the income and assets to afford the payments for the life span of the loan. The average rates for a fixed 30-year loan are predicted to rise 5.5 percent by the end of 2014, and this makes it more difficult for home buyers to meet the financial requirements to purchase their dream home. The good news is you now know you are working with serious buyers who are financially ready for the process.

4. Home Buyers are Eager to Purchase Now

Buyers aren’t competing with investors this year and find themselves left with prices that are increasing steadily. Locally and across the United States, buyers are looking to beat the rising prices. Household incomes are at a standstill, so buyers want to purchase a home sooner rather than later. With more buyers than homes for sale, the time your house remains on the market is an average of 60 to 130 days.

With inventory down, buyers are finding it difficult to locate the home of their dreams. They are paying higher prices the longer they wait. Property values and prices are up and the real estate market is saturated with more buyers than sellers. The forecasting firm Capital Economics predicts the price gains will slow four or five percent this year.

Since there is still low inventory and prices remain higher, the time to sell really is now. There is less competition and a high demand for the homes on the market. If you are interested in listing your home or hearing more information about the Ann Arbor real estate market, please do not hesitate to contact us. If you are still researching, feel free to check out our Definitive Guide to Selling Your Home.

2013 Recap for the Ann Arbor Area Real Estate – Insight by Ann Arbor Area Real Estate Experts

Posted by Toth Team Worldwide on January 21, 2014

2013 Recap for the Ann Arbor Area Real Estate Market. Here is a recap of a very active year in residential and condo sales in the Ann Arbor real estate market.

In real estate, you will often see or hear the Median Price vs. the Average Price in the reporting of statistical data. The Median Price represents the middle of a specific group. Place the amounts or the numbers of the selected group in value order and select the middle number. If there are two middle numbers you average those two. If we used the Average Price, all it would take to influence a large change, up or down, would be one very high or one very low priced home to skew the results. Therefore using all the data and selecting the Median price will provide a more accurate depiction of our local price levels. The median price, therefore, provides a real-time market overview.

The Residential and Condo sales volume (above) showed strong sales at the end of the 2nd quarter and holding through the 3rd quarter. The last quarter slowed to April and May levels with a steady selling period to finish out the 2013 calendar year. Throughout the 2013 calendar year, inventory was low. There are plenty of qualified buyers out looking for homes and condos. If you are thinking of listing your home or condo, this is the time to speak with the Toth Team to get your questions answered. With inventory low, prices in many areas have been rising.

Below, the highest Median Monthly Sales Price for Residential properties was $234,950 in June. The Condo Median Prices remained steady with January and June showing the highest priced median selling months at $160,000.

In our particular charts we are looking back at the Monthly Sold Volume and the Median Monthly Sales Price for 2013. Information has been gathered from the Ann Arbor Area Board of REALTORS stats.

To search for homes visit www.HomeSearchAnnArbor.com

Stay abreast of the market with your smart phone: www.HomeSearchAnnArbor.com – get mobile! Find all homes and condos in our Washtenaw County area.

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Kathy Toth and Team are Washtenaw County, Michigan real estate experts who will guide home buyers and sellers through the entire real estate process. Our extensive knowledge of Washtenaw County areas, combined with decades of expertise in the local real estate market is extremely valuable to helping you achieve your goals. For quality service and personal attention during your real estate transaction, contact Kathy Toth and Team for all your home buying and selling needs.

We want to be your real estate agents!

Ann Arbor Area Board of REALTORS Year-End Sales Report – All Positive!

Posted by Toth Team Worldwide on January 17, 2014

The Ann Arbor area Real Estate news just keep getting better. The Ann Arbor Area Board of REALTORS has just published the year-end, December, 2013 statistical report. Positive price improvements across the board with more listings and multiple offers being presented. The Ann Arbor, Washtenaw County, Real Estate Market is described as robust by our local board. We are grateful for our positive housing recovery in Washtenaw County. Here are some of the highlights below.

The year-to-date Average List Price is up 16% over last year with a year-to-date average list price of $254,260. Comparing December 2012 to December 2013 the List Price is up 8.6%. The number of listing over the year increased by 5.5% which is exactly what we are looking for – an increase in listings. If you are considering putting your home on the market this is a great time to give us a call. Do you want to know what your home is worth? Call today for a free market analysis on your home or property. Contact us by email at Kathy Toth and Team. Dec 2013 Housing Stats Updated.

Stay abreast of the market with your smart phone: www.HomeSearchAnnArbor.com – get mobile! Find all homes and condos in our Washtenaw County area.

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We want to be your real estate agents!

12 Tips to Selling Your Ann Arbor Home Before the Holidays

Posted by Toth Team Worldwide on December 6, 2013

Winter is upon us in Ann Arbor, and that means cold and snow. It can be difficult to drag potential home buyers out to your property to give it a look, so you need to do everything in your power to make your home as appealing as possible. While the task is daunting, get in the spirit of the season and you can accomplish wonders in just twelve days. Here are 12 tips to selling your home before the holidays:

Day 1: Find an Agent & See How They Can Sell Your Home

Finding the right real estate agent is complex and subjective, but it’s the first thing you should do. Interview possible agents and find out how successful they are, how much of a commission they command and what methods they use to market your home. Starting things off with the right agent makes everything that much smoother.

Day 2: See What Your Home is Worth

Your agent can help with this step. Combine their recent market analysis with your own research into recently sold homes. Look at the sale values for homes of a similar size and location as yours. This should give you an idea of what prices you can expect to draw interest.

Day 3: Decide on a Listing Price

If you set your price too high, you’ll fail to attract any buyers at all. Set it too low and you’re throwing away money. Talk with your agent to set a competitive price that will attract buyers to leave the comfort of their current homes to come check out yours.

Day 4: Make any Necessary Repair

Broken tiles, leaky faucets, warped floorboards, chipping paint — these are all common in older Ann Arbor houses, and they’re all problems that require time and money to solve. Invest this money yourself and you’ll make your home look more enticing to buyers. People want to buy homes that are in good condition, not fixer-uppers.

Day 5: Clear the Clutter in Each Room

No, you can’t just shove your stuff in a closet. Closet space in older Michigan homes is at a premium, so buyers will check to see what you have available. Clear out as much as you can, either boxing up, selling or donating what you don’t need. You’re moving once you close the sale, and clearing out clutter helps prepare. Also, you should get rid of any clutter lying around the house, including toys on the bedroom floor and papers stacked in the home office. Minimize things and your home will appear more spacious — a quality home buyers look at.

Day 6: Arrange Furniture in a way that sells

Avoid cluttered rooms. Never leave a room empty. Make sure traffic flow works. The layout in some of these old homes can be odd, so play around with furniture until you get a layout that feels right.

Day 7: Stage the Bathroom

No one lives with a spa bathroom, but everyone wants to think they can. Spice up your bathroom to attract buyers. Hide or remove your personal items, clean everything up, and spruce up the decor. A little hardware goes a long way.

Day 8: Stage the Kitchen

What applies to the bathroom applies to the kitchen. Clean up the appliances, hide your counter-top machines and display the selling points. If it has a window, emphasize natural light. If it’s cramped and small, make sure it’s well lit and gleams.

Day 9: Enhance the Curb Appeal

If it snows, clear the driveway and sidewalks, salt them, and avoid marching through the yard. Make it as picturesque as possible. If it hasn’t snowed yet, clear leaves and make the lawn look neat.

Day 10: Add Seasonal Touches

A few ornamental Christmas items can go a long way towards putting your buyers in the right mood. A couple of candles, lit before they arrive, can make your home smell inviting and pleasant. Be subtle and non-denominational, not garish.

Day 11: Prepare & Host an Open House

Advertise early and leave the rest to your agent. Having the seller present distracts buyers and leaves you prone to making excuses. Your house should be staged by now; trust your agent to handle the rest.

Day 12: Review Feedback from the Open House

If you don’t have a serious buyer, it’s time to revise your strategy. What made your house less appealing to buyers? Do you need to reduce the price? With the aid of your agent, you can use the open house feedback and repeat the process until your home sells.

Selling Your Home in Ann Arbor, MI

If you’d like more information about selling your home in the Ann Arbor area, read our free home seller’s eBook:

3 Reasons to get a Seller’s Home Inspection

Posted by Toth Team Worldwide on October 23, 2013

If you are an Ann Arbor homeowner looking to sell your property, you’ll most likely benefit from the significant rebound in the area’s real estate market in recent years. However, this still a competitive environment, so why not consider another way to get a competitive edge as you put your home on the market? Getting a “seller’s” home inspection before you decide to list your home for sale can help you identify any problems with your property (before any buyer ever finds it) and help you set yourself up for success. The last thing you want is to have any surprises during a purchase deal and drive off the buyer — all because there was something wrong with the house.

Here’s why you should get a seller’s home inspection before listing for sale in Ann Arbor:

Ann Arbor Homes for Sale — by Epiphany Kitchens

1. It’s a Proactive Approach to Problems

Should a home inspection uncover one or more issues, you and your agent can carefully consider strategy without the pressures that arise when an offer to purchase has already been signed by the parties. A seller may decide to fully rectify the problem by paying for a repair. The advantage with the seller’s inspection is that you’re not suddenly performing a repair under duress. Instead, you have the time to shop around for a proper combination of quality and price.

2. It Provides Pricing Advantages

If, on the other hand, your home inspector comes back with a clean report, this can work to your advantage. Armed with the good news, a seller may be more confident in asking a bit more for his or her home. Also, your agent can use the existence of a clean home inspection as a marketing tool. Many prospective home buyers feel the pressure of the process as it is. Many will actually gravitate toward homes that have been recently inspected by a professional.

3. It Helps Avoid Last Minute Surprises

It can be a huge advantage for a seller to not get caught “off-guard” when the buyer’s inspector returns with a report of problems. Buyers don’t like surprises any more than sellers do. In some cases, a bad result during the home inspection may cause them to walk. Although Michigan’s “full disclosure” laws mean that sellers mostly do disclose defects that they are aware of ahead of time, a buyer may nonetheless feel like they’ve been misled. Perhaps this explains why, in many cases, a buyer will try to reduce the price of the property by double or triple the actual cost of the needed repair. This can result in difficult and sometimes rancorous negotiations between the agents.

The alternative is to get a seller’s inspection at the outset, and to get everything out in the open from “day one.” Just the peace-of-mind gained can be well worth it. And finally, hundreds spent on a home inspection may translate into thousands of dollars more in your pocket at closing. Working out the costs of any problems uncovered in advance almost always turns out better for the seller.

Selling Your Ann Arbor Home

If you’d like more information about selling your Ann Arbor home, contact us or read our free home seller’s eBook:

Myths & Facts About Ann Arbor Home Appraisals

Posted by Toth Team Worldwide on October 21, 2013

When it comes to selling your home in the Ann Arbor area, you’ll be faced with tons of paperwork, home inspections, and a home appraisal. Often you won’t fully understand the process, which is why the home appraisal is one of the most hotly disputed parts of the process. Homeowners can feel that the bank or lender is trying to help the buyer rather than them — since their home is being judged on quality and value. To help separate fact from fiction, here are some common home appraisal myths debunked:

Myth 1: The Appraisal is Designed to Help the Buyer

One myth is that the main purpose of an appraisal is to ensure the buyer does not pay more for the house than what it is worth. In fact, the appraisal is meant to protect the lender. Lenders do not want to own an overvalued house any more than they want to give money for one. They want the best value like all other consumers.

Myth 2: Appraisers Use Formulas to Decide Home Values

Another myth is that appraisers use specific formulas like price per square foot to determine property value. In actuality,appraisers take several factors into consideration to judge a property. These factors include the property’s size, lot area, and the proximity of desirable community facilities such as good schools.

Myth 3: Clean Homes Get Better Appraisals

Realtors who want to sell might put in a lot of time “staging” the property. Staging means putting up new curtains, ensuring the house is swept and dusted, and using furniture to enhance the appearance of the property. The fact is, this does little to improve the appraisal of the house. Appraisers are trained to look for structural details, such as paint cracks, secure sink and lighting fixtures, and the condition of floor boards or carpeting.

Myth 4: Anyone with a Clipboard and Business Cards can be an Appraiser

If you think anyone can be an appraiser, consider this. Each state has minimum requirements to become a property appraiser. In Ann Arbor, each appraiser must pass an exam and pay a licensing fee in order to become an appraiser. Some trainees have to complete 2,000 hours of supervised experience before they can be their own appraiser.

The Home Appraisal & Selling Your Home

If you’d like more information about the home appraisal or selling process in Ann Arbor, contact us or read our free home seller’s eBook:

Michigan Association of REALTOR’S Published State-Wide August 2013 Stats and We Are Looking Good!

Posted by Toth Team Worldwide on October 17, 2013

The Michigan Association of REALTOR’S (MAR) compiles and publishes a monthly analysis of each of the 40 participating REALTOR Associations. Our local Ann Arbor Area Board of REALTOR’S submits our local stats to MAR each month. This is a great way to stay abreast of Residential Sales across our entire Pure Michigan State.

Ann Arbor has been holding very consistent. Our August year-to-date average price was $251,943 up from 220,738 last August 2012; a 14.14% increase. And our 2013 year-to-date price was up in August 17.59% from $217.175 last year to $255,384 in August this year. We are still improving – See the Ann Arbor Area Board of REALTOR’s report for September 2013. We still need far more listings. Just click here to find out what your home is worth and have a report sent directly to your email inbox. We have buyers ready, willing, and pre-approved to purchase their new homes.

Looking around Michigan, the areas by the water showed nice improvement this year, like for instance Emmet County Board in the northwest lower peninsula that includes Alanson, Bay Harbor, Conway, Harber Springs, and Petoskey fared very well with a 77.20% increase making their average price this year $402,325 up from $227,046 – a whopping Average Price increase of $175,279. Amazing. The number of total average sales was only up by 4 units but still an improvement. Take a look at some of the other areas I have highlighted below. The number of units may not be huge in some areas but the state is showing so many great signs of improvement. Check out these waterfront properties.

Click chart to view a larger image of the entire report.

Are you looking for some entertainment this weekend. Michigan plays Indiana a home game this Saturday, October 19, 2013 with a game start time of 3:30 pm ET. Go out on the Huron River, it’s not too cold yet. Canoe the Huron River. Not to soon to pick out your Pumpkins and set the theme for Halloween. You know what I mean – Just Have Some Fun ! !

Kathy Toth and Team are Washtenaw County, Michigan real estate experts who will guide home buyers and home sellers through the entire real estate process. Our extensive knowledge of Washtenaw County combined with decades of expertise in the local real estate market are extremely valuable in helping you achieve your goals. For quality service and personal attention during your real estate transaction, contact Kathy Toth and Team for all your home buying and selling needs.

View Our Listings | Like us on Facebook | Follow us on Twitter We want to be your real estate agents!

Kathy Toth and Team are your Ann Arbor Real Estate Experts at Keller Williams Realty.

Category: Seller Tools