6 Reasons Your Home Won't Sell

Are you ready to sell your home and want it to have a great first impression on the market? Or maybe your home has been listed for a few weeks or months, and you can't figure out why it won't sell, and you know your agent is working hard to market it. I’ve listed below the top 6 reasons your home may not make a good impression and end up stagnant on the market.

1. IT'S OVERPRICED

To be clear, an overpriced home is the #1 reason a home won't sell. We often times want our homes to be worth a lot more than we may see based on the data, but if you put your home on the market for the number you wish it will bring instead of the price it actually needs to be, your home can sit on the market for months without getting a single showing. If you're thinking you need to price high to leave room for negotiations, statistics show that views for your property, for buyers in your price range, can drop a whopping 90% if it's priced too high. Discuss with your broker or me what the market says the value of your home is, then price it competitively to potentially get a bidding frenzy instead of low offers or having it expire.

2. LOW SHOWING AVAILABILITY

Making sure the house is clean and having to leave on a daily basis for buyers to tour the home may get a little overwhelming, but it is crucial to have open availability to have your home shown. You could end up missing out on the perfect buyer if you decline too many showings. The longer it sits on the market, the less value buyers will see in it. Talk with me or your broker about having a 24-hour notice period if the extra time is needed, but make sure your home is available to be shown as often as possible.

3. CLUTTERED SPACE

Buyers want to walk into a house and envision their lives in that home. This is difficult to do if your home is cluttered with personal belongings. They are instantly given the feeling of invading someone else's personal space, instead of the satisfaction of being able to see a future in your home. Make sure your property is clutter free before putting it on the market; and store away any family photos.

4. UNPLEASANT ODORS

If you smoke or have pets, it's easy to get used to the smell to the point that you don't even notice it anymore. But it's important to understand that the scent can be picked up by new people visiting your home, and it can really turn them off from making an offer. Before a showing, make sure to dispose of any garbage, don't cook fish or other strong-smelling food, and ensure the home is freshened up so there are no pet or smoke odors.

5. UNWILLING TO MAKE REPAIRS

Selling your home as-is may sound appealing at first but being unwilling to make repairs could cost another mortgage payment that far exceeds the cost of repairs if you refuse to work with the buyer on their requests and the home goes back on the market again. It's wise to be open to repair requests, and simply go over with your agent what you can afford to do and make a reasonable counter offer during the repair negotiations.

6. UNWILLING TO NEGOTIATE WITH BUYERS

It's important to have an open mind about requests that will come from buyers when it comes to purchasing your home. These requests can come in the form of price negotiations, repair requests, or even requests to cover closing costs or home warranties. With your agent on your side advising you of the best steps to take, it's best to be open to working with the buyers on some of their requests to ensure a successful closing.

Residential Property Disclosures

Residential Property Disclosures

When selling your home, you're obligated, by law, to disclose certain information about your property.

 Most states require that all sellers complete a written property disclosure form. Majority of the forms have a required set of questions that must be answered.

THE BASICS

Most states require sellers to complete this form when listing for sale. Nearly all of the questions are a basic yes/no/unknown response. The questions will address material facts, major defects, special disclosures, and federal disclosures. All forms vary by state and require different information.

MATERIAL FACTS

These include the age of the property, it's condition, known problems, and defects. These are all of the information that would influence a buyer's decision to purchase your home. These disclosures require you to address known defects, things that are reasonably apparent, to ensure you don't knowingly hide a major defect.

MAJOR DEFECTS

All major defects MUST be disclosed. For instance, fire or flood damage. If your home's electrical system isn't up to code, and you're aware of this, it must be shared with potential buyers. Repairs you have completed, as well as improvements and upgrades, should be noted as well.

Since all states have varying federal and special disclosure laws, it's imperative that you reach out to a local real estate agent or in the Illinois Tri-State Area I’m happy to assist you to get assistance with the sale of your home. I will have a copy of the required disclosures and can assist you to ensure you don't find yourself in hot water, legally, if an important disclosure isn't shared with buyers.

If you have any questions with any forms or questions about how to get started selling your home please reach out and I am happy to happy with any questions you have. 

FALL LEAVES BRINGS SOLD SIGNS!

FALL LEAVES BRINGS SOLD SIGNS!

Summer has come to an end and you probably are thinking you've lost the opportunity to sell and need to wait till next summer. But that's far from the truth! Although it's not as hectic and crazy with the swarm of buyers on the market, the fall season brings out the most serious of lookers. They are the pool of buyers that waited out the summer frenzy to find their perfect home in the fall, and you don't want to miss these buyers! They are ready to make a move, today! And selling in a slower period does not equate to less money. That's a misconception that home owners have based on untrue data that floats around. With ME, and your home being priced correctly, you can get a great deal selling your home during the fall season. And might actually prefer it.

Here are the top 3 benefits to listing during the fall season:

1.   Serious Buyers - Let's be honest, if buyers are out during the busy season, looking for homes, they are serious and ready to buy. Although the summer brings in a large crowd, that crowd contains a lot of people that are excited by the season and fall into the "trend" of house hunting. These people end up not really being serious about the process and tend to hold off for another time. If people are investing time to look during the fall season, they are more likely to be interested in actually buying your home, instead of touring it.

2.   Less Competition - Selling in the fall isn't something many families can accomplish due to personal schedules. That's why a significant amount of homes get listed during the summer season. Which means that summer time brings in a lot of competition. Selling in the fall means the potential house next door that has slightly more perks that may have been listed during the summer, doesn't make your home sit stagnant, since everyone wanted your neighbor's house. It also doesn't devalue your home because of the house that could go up next door that could be underpriced in your neighborhood and draw all of the attention. With a slower season, you get dedicated attention to your property, which increases the chance of a sale.

3.   Easier to Find Your Dream Home - Not only do you get to benefit from a slower season during the selling process, but you can also benefit on the buying side. With less competition on your dream house, you can get a better deal. The summer brings a lot of missed opportunities for buyers on their dream homes, because they go off the market instantly. This will give you the opportunity to get your home on the market and take your time to find the right one to resize into. A much calmer pace to the transaction will make it less stressful, and everyone all around happier. Don't feel rushed into buying a home overnight during the summer, it could turn into a headache. If you want a far more peaceful transaction, that has calmer pace, then selling during the fall is perfect for you.

Don't let your dreams come to an end just because summer has, contact me today to find out how to get your home of your dreams listed or get your home priced right to sell on the market today.

Achieving Feng Shui

Achieve Feng Shui In Your Home

If you take the time to dig into the philosophy around Feng Shui, you'll understand that it doesn't come off as esoteric as one my think. It's based around the simple practices to make

 a home feel healthier and a lot more organized. It also helps you to connect to your home, in a way that can affect your mood and well-being. Feng Shui is as common as "spring-cleaning," or decorating to make a home feel much more comfortable.

This ancient Chinese tradition can be incorporated into your own home. It can be done in a modern holistic approach, while still honoring the age-old traditions that come with Feng Shui.

 It's not about transforming the structure of your home, but instead making it to evolve into a space that refreshes your home - and in turn your health. The following Feng Shui tips will do a little more than just bring some harmony into your home, they can potentially increase the value of your home's selling price.

Let's get into to the best Feng Shui decorating tips for your house below!

1. Slow Down Your Home's Energy Flow:

The back door and the front door have a direct line of sight, that means the energy in the home, or the chi, will flow through the home too fast. Instead of it going straight out of the back

door, you want it to undulate throughout the whole home in a graceful and even manner. The best way to slow down this flow is to place a pattern rug on the floor in front of the front door,

add artwork on the walls or add a round entry table to the foyer space.

2. De-Clutter Your House:

Decluttering your home may seem like an obvious enough solution, we can all be guilty of letting our content accumulate in our home, that may not have a specific function. Clutter is more

than just unappealing visually, it's an anchor for the energy in a home. An excessive amount of clutter can stop you from having clarity of thought, and even weigh you down emotionally.

Feng Shui isn't focused on having a perfectly styled home, but instead, provide a happier and healthier environment. Be sure to have the correction organization throughout your home.

From paying bills, to recycling content, and even something as simple as a designated spot for your keys. It'll help you feel less frazzled and feel more efficient in your day to day routine.

3. Front Door Path Must Be Kept Clear:

The front door in a home is an important factor to Feng Shui. It's the main portal through which the energy from outside will enter into your home. You want to make sure the energy flows

 uninterrupted through the front door, without "metaphorically" running into a wall. Keep your front door area free of clutter and consider installing a mirror near the front door. This can

 hold the meaning that you are expanding the energy in the space, which in turn expands the opportunities within your life - and prevents you from feeling limited.

4. Balancing the Five Elements:

Whether present physically, or symbolically, the five elements you can find in a home are earth, fire, wood, metal, and water. The fire element can be brought into a home with warmer tones,

 or physically through a fireplace and burning candle. You want to ensure there is a balance between all of the elements. People can easily be drawn to an element that can cause an imbalance

 in their life. For example, if a person were to find themselves rather aggressive, they'd want to avoid a large amount of fire elements - such as a bright red wall. If a person is lacking motivation

in their life, it'd best suit them to add more fire elements. Look at the elements within your home in a symbolic manner and see what you need to change to create a more balanced emotional life.

5. Remove Any Negative Symbolism:

From books to traffic signs, symbolism bombards us daily. In everyday life, we are guided by the symbolism that surrounds us, which is enhanced even more so within our homes. An intimate

 environment represents an individual's fears and challenges. If you have trouble finding clarity, see if you have a lot of stuff cluttered in your home. If you have low self-esteem, check to see

 if mirrors are hung too high, which equates to you never measuring up. If you find yourself unable to get out of the single life, do you surround yourself with single decor? I.e. single vases,

 single chairs, single person in pictures/art. Figure out the challenges you face on a daily basis in your life and look at the symbols the content in your home hold, to understand what changes

 need to be made. 

6. Maximize the Natural Light:

Natural light can make a person much happier and more positive. You want to enhance as much natural light in a home as possible, which can be done by placing mirrors directly across from windows to help reflect the light throughout your space. 

If you or someone you know have any questions regarding Real Estate, please don't hesitate to message or call me. I'm here to make the process an easy one for you.

From "I DO" to #SOLD

FROM "I DO" to #SOLD

Newlyweds are saying "I do" to each other and equate to over half of first time home buyers that are also saying "I do" to their dream homes.

 It makes sense! When you put two hearts together, the time comes to find a home to nourish that love. A home that brings two of your places together, and makes it one. If you and your spouse are ready to fall in love with the perfect house together, here are five tips to make sure the process goes smoothly, and you come prepared.

1.     YOUR WEDDING BUDGET: Your wedding is a one-time event that shouldn't be less than what you'd imagine. It's a beautiful time to put all your dream pieces together. However, it's best to sit down and find out ways you can shift the budget to help with your down payment for a home, if you plan to purchase. The average couple spends a little over $20,000 on their wedding. Even a savings of $5000 from your wedding budget can help with owning the perfect home.

2.     WEDDING GIFTS: Wedding bliss comes with wedding gifts. Let's admit, one of our favorite times during the wedding season is all the gifts that come pouring in! Have any friends or family pitching in cash? Save that to put towards your down payment. And depending on the generosity of your gifts, you can even open an account dedicated to your down payment, that friends and family can gift to.

3.     GET PRE-APPROVED: One of the least brought up conversations in relationships is the credit and financial history of your soon-to-be spouse. Get together with a lender to go over both of your histories to know what needs to be done to put you guys in a position own together. In some cases, only one person can get approved, while the other can't. If you want to put both of your incomes toward the cost of the house you want, talking to a lender early on can ensure you are prepared to make the right moves.

4.     THE RIGHT AGENT: That's where I come in! For starters, I can connect you with a lender to ensure you guys are being watched over from the best recommendations. And it's an absolute joy to take the stress out of buying a home for my newlywed couples. We all know how stressful, although joyous, a wedding can be. To then jump into buying a house shortly after, well, it's certainly a lot to get through. But I can guide you through all the steps to make sure you end up with a house you love. Just think of me as a wedding planner, but for homes.

5.     NOW THERE'S TWO: Although some spouses are a match made in heaven, loving and adoring the same exact things, often that's not the case with most couples. You still are your own persons and have your own tastes. This is where the first step to comprise really begins. Spending a good bit of money on a place you both will love and call home. A happy marriage starts with a happy home, so be sure you both are considerate of each other's wants and needs in style and location, so you both are happy with the home you end up getting.

DON'T REPLACE YOUR AGENT WITH THE INTERNET

DON'T REPLACE YOUR AGENT WITH THE INTERNET!

With the influx of new technology and web based solutions, it isn't a surprise that everything is moving fast into the era of the internet. From sites like Uber to Grubhub, we generally can pull up our phones or laptops to order what we want with ease. And with every industry being revolutionized by technology, the same methods are "attempting" to be applied to the real estate industry. 

We could all agree that the simplification of the process through paperwork would be much appreciated by agents and buyers/sellers alike; but the attempt of replacing the agent by sites like Zillow and other third party resources, can lead to a snowball affect of disaster. Think about real estate being smack dab in the middle of fast food and a doctor. You can use your mobile device to quickly place your order for a $20 meal, but when it comes to getting a surgery, you'll want to put that phone down and visit a professional. Now think of your real estate agent being in the middle of all of that. You can use your devices to look for a home, look at market data the way you look at WebMD, knowing not to take it too seriously because you need a real professional's input, but it's fun and gives you a general idea of what to expect. But there in lies the issue, the data online is an oversimplified version of what goes into the process of buying and selling. The same way it oversimplifies medical diseases and surgeries, you'd still expect to get a professional's diagnosis.

Although a real estate agent isn't quite like a doctor, the industry in it's legalities, contracts, and processes is similar in the sense that it needs to be taken seriously. Looking for a house online and wanting to put an immediate offer on one can be exciting and fun, but the issues that require a professional's guidance comes after the initial contract is written up and the hard work comes into place to actually make the home your own. Same for sellers, if you decide to put your home on the market and want a website that will give you an automatic offer, how do you know you're not being taken advantage of in the price? But most importantly, how do you know you're not being taken advantage of in other aspects of the contract? Because there is a lot more to the sale of the home then just agreeing on a number. 

The next time you're digging through public sites for homes for sale, and getting instant home valuation estimates, keep in mind that this is a simple process to give you an idea of your market. A very general idea. But after you've found the perfect house, or after you've decided that the numbers make some sense for you to sell, call ME and I can make sure to give you a more detailed look into the market and assist you through the full process, not just the exciting first parts. Because it's going to be in the middle of a contract when the lending is falling apart, or negotiations can't be made on repairs and emotions are at an all time high, that you are going to wish you had put down your laptop and had an agent fighting for you by your side. Use the internet, have fun with it's amazing resources, but don't let it replace your agent. We aren't in an age, just yet, where technology can do everything a professional can. 

10 Chores to Do Annually!

10 Home Chores To Do Annually!

Sing me some graces, there is such a thing as over-cleaning! Here are ten chores around the home that you really only need to do annually, minus special circumstances. Let's dive in!

1. Curtains & Drapes

Unfortunately, we don't mean the dusting part. You'll want to dust at least once a month, but when it actually comes time to getting them cleaned, you only really need to do that once a year. You can take them in to get dry cleaned or follow the instructions on their tags if you choose to wash them at home. 

2. House Gutters

Gutter guards can be a great investment, especially if you live around trees that shed all year long. These can keep your gutter cleanings minimal, generally about once per year. You'll want to do this in the autumn when all of the leaves from the trees have already fallen. 

3. Fireplace & Chimney 

After the winter, you'll want to give your fireplace a thorough cleaning. You can use a shop vacuum to clean up the embers. Make sure to wash down the fireplace tools as well. Go an extra step further and schedule an appointment with a chimney sweeper. 

4. Carpets

We wish we meant vacuuming, but that's pretty much a weekly or biweekly task for most households. In this case, we mean a deep clean. The best time to get this taken care of is right after summer. 

5. Outdoor Furniture

The best time to clean outdoor furniture is when you bring them out of storage for Spring. Of course, if messes up happen while you're using them, you want to clean the spots right away, so you avoid an accumulation of stains in a short period. 

6. Mattress

Mattresses have improved through the years but they still need a little bit of attention. At least once a year, give your mattress a thorough cleaning and change the position of it. 

7. Kitchen Cabinets & Pantry

Early November is a great time to clean out kitchen cabinets, drawers, and the food pantry to get them ready for the holidays. Do a section of cabinets at a time and empty them out completely. Wipe down the shelves and reline with shelf paper if needed.

8. Linen Closet

Just once a year, empty out your linen closet and give it a thorough cleaning. Take time to vacuum away dust and spiderwebs and reline any shelves. 

9. Garage, Basement, & Attic

No one is expecting you to have a perfect garage, basement, or attic. However, a good cleaning at least once a year can help you keep an eye on things, such as moisture or insect problems. It can also feel good to get rid of junk that tends to accumulate in these hidden spaces.

Leave the Big Chores to a minimum and when it comes time to sell/move you'll be one step ahead towards moving. 

Contact Me with any questions with all your Real Estate Needs! I'm always available to help. 

Debunking Myths of Home Buying

Debunking Myths To Home Buying

Finally ready to make the transition into home ownership? That's awesome, and in this exciting time you can be turning to friends and family for an insight into the process. However, there seems to be a circulation of misinformation spreading around, so I'm here to clear up a few myths. 

1. THE FIRST STEP IS SEARCHING FOR A HOME
You know the saying, "Don't put the cart before the horse," well that's important to remember when it comes to buying a home. You don't want to start looking for a house until you have gotten to sit down with a lender and discuss what the bank will qualify you for. If you fall in love with a house that's $250,000 and come to find out you're only qualified for $200,000 you can get your hopes crushed and waste a lot of time. Don't start the process on the wrong foot and make sure the numbers line up.

2. YOU DON'T NEED A REAL ESTATE AGENT
For starts, when buying a home, 99% of the time the buyer's agent gets paid by the sellers. That random 1% can be for odd circumstances. So you're getting to use the services of a real estate agent for free. Having a real estate agent on your side means you'll get to see homes that aren't as readily available on public searches, you avoid outdated listings and scammers (there are lots of them), and you have protection when it comes to navigating the legalities of contracts and buying a home. Why wouldn't you want an awesome negotiator working to ensure you get the best from the transaction? For FREE!

3. YOU CAN'T BUY A HOME WITH BAD CREDIT
Fortunately for some, this is a myth. Lenders and banks come by the hundreds of thousands and all though there are a few loan options, a lot of lenders can work with credit scores down to the low to mid 500's. Get in touch with me at Davis and Associates Inc., Realtors to help you connect with the right lender who can help you potentially approved. There is a lot of factors that go into approvals, but your credit doesn't have to be a sore thumb during the process. However, you will be doing yourself a favor if you connect with a credit repair specialist to at least get those numbers in the 600's. A better score will lower you interest rate.

4. YOUR DOWN PAYMENT HAS TO BE 20%
Think you have to sell an arm and a leg to buy a home? Not at all! An FHA loan only requires 3.5% while a conventional only requires 5%. There are a lot of programs that can potentially help you with down payment assistance or be 0% down mortgage. USDA and VA loans are the most popular 0% down programs. If you qualify, this can take a big chunk off the amount of cash you have to bring to the closing table. 

5. DOWN PAYMENTS ARE THE ONLY UPFRONT COST
This is one of the biggest misconceptions. There is a lot of cost that goes into buying a home, and that includes upfront costs. One of the mandatory ones are a termite and appraisal. If you are getting a mortgage, the home will have to appraise and get a letter stating there are no termites in the home. Termite can range between $25-$75 dollars. An appraisal can range from $300-$700 dollars. Aside from your down payment, you then have to pay for closing costs. And NO, they are not the same thing. Closing costs can range anywhere between 3-6% of the purchase price. In certain markets, this can be negotiated for sellers to cover by rolling into the offer price, but whether that decision is smart to do or not when it comes to landing your dream home will need to be discussed with an agent like ME.
Now that you have some knowledge to get the process started, get in touch with a me to help you get through the process smoothly.

 

How Interest Rates Affect You

The interest rate is the percent of principal charged by the lender for the use of its money. The principal is the amount of money lent. Banks pay you an interest rate on deposits because they borrow that money from you. Anyone can lend money and charge interest, but it's usually banks.

The Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panic led to the desire for central control of the monetary system in order to alleviate financial crises. The Fed's can raise, or lower interest rates based on the current climate of the U.S Economy. Their decisions can affect the cost of housing, cars, student loans and even the interest on your credit card — though not all necessarily right away. And when the Fed raises rates, all sorts of other expenses eventually tick up.

In general, movement of the Fed’s rate does not have a large, direct impact on long-term mortgage rates. But when the Fed’s rate goes up, banks find ways to pass their higher borrowing costs along to consumers, and because long-term mortgage rates are set in stone, they also factor in the anticipation of future rate increases.

The Federal Reserve  announced it would raise interest rates and steepened its outlook for hikes in 2019 and 2020.

After a two-day meeting, the Federal Open Market Committee unanimously voted to increase its benchmark fed funds rate by 25 basis points, to a range of 1.50% to 1.75%. It was the sixth rate increase since late 2015, as the US's central bank backed further away from emergency policies that helped heal the economy after the Great Recession a decade ago.

 The hot economy will continue to put upward pressure on rates. Rates are good right now as well as our growing economy currently. This is a perfect time to get your foot in the door on lower interest rates before they rise again. Locking in your rates secures your payments and future in your new home. A mortgage Rate Lock is a guarantee that the lender will deliver a specific combination of interest rate and points if the mortgage closes by a specified date. A point is a fee or rebate equal to 1 percent of the loan amount. Frequently, rate locks last for 30, 45 or 60 days, but they can be shorter or longer.

Many mortgage consumers wonder what the economy has to do with mortgage rates.

Summing it up with one word: everything.

 Mortgage rates tend to be higher when the economy is doing well. That’s because inflation takes off and investors seek higher returns than mortgage bonds can offer.

In June 2018, the unemployment rate rose to 4.0 percent. It was 3.8 percent in May, the lowest rate since April 2000, you must go back to the 1960s to see unemployment rates this low. There doesn’t seem to be any cracks in the economy. Recent tax cuts have fanned the fire, and companies are on a hiring spree.

There are several reasons to buy a home in today's market:

1.Robust Economy

2.Interest Rates are still low

3. A surge in Housing Market Inventory (more homes to choose from)

4. Great Mortgage Packages available, even for the first-time home buyer

One of the most listed reasons is pouring money into rent which ends up in the pockets of someone else instead of your own. Is it time for you to get out of someone else's home ?and into your own? If so, now is the time to take that step, a booming economy allows buyers ease of finding their perfect home more now than years before.

Contact Me, to see how buying a home can save you money and bring you great financial benefits too!! 

Kristi Fenton

Real Estate Broker

217-617-9083-phone

217-224-8100-office

Kristibroker@gmail.com - Email 

I want to extend the same friendly welcome to you also-with help purchasing or selling a home... so let's get started.