Thanks for watching! Here are the links I talk about in the video! Watch the HGTV video I talk about in the video here! ua-cam.com/video/1KcHI0tXueQ/v-deo.html Watch the Declutter video I mention in the video here! ua-cam.com/video/t1_YV3pbc4M/v-deo.html ⭐ DOWNLOAD our FREE Seller's Playbook: bit.ly/SellerPlaybook73 🔥 ⭐ Need an Agent Anywhere in the Country? bit.ly/FindAnAgentTL
Hi Kati, My iPhone will not open the tiny url. Can you email me a link to the playbook please? I’ve tried everything, downloaded all kinds of workarounds, nothing! Thanks
On the OTHER hand...my sister and husband sold their house in CA. They did new flooring, new counters etc. A few weeks after close, they came by to pick up mail and the new owners were ripping everything out. She was shocked! Happens all the time. So as long as things are in good condition...let the new guys update to their heart's content!
Yeah, I guess. A house in my neighborhood just sold. The new lvp floors had just been put down a couple of yr's. ago. I thought they were beautiful. The new owner has ripped them out. Seems kind of obscene to me.
@@penelope5500 A house near me had beautiful hardwood floors, medium-tone oak. The buyers paid top-dollar for the house and ripped out the HARDWOODS and replaced them with different hardwoods just because they didn't like the color of the ones in the house. That's nuts. Oh, and they divorced a year later, sold the house and didn't make a DIME, and we live in a HOT market.
I agree. Every single condo that has sold in our community has been gutted. We aren't wasting a penny even on paint because they are going to redo it. We have nice laminate-wood flooring, granite counter tops (but the brown ones), scraped the popcorn ceiling years ago, and changed the fireplace to gas. They can paint it whatever color they want when they buy it. But we are in Southern California and places sell immediately.
In SoCal expect new owner to replace all lovely wood & install ugly white tiles, concrete as much yard as possible, use garage for storage of stuff, not cars. Entire house will be either replaced or gutted.
Yes I’ve seen this also. TV ideas are not necessarily public ideas. Tv messes their pants at “popcorn” ceilings, ceiling fans, or cheaper countertops. Or they install a claw foot tub(aakkk) at some point reality needs to be addressed.
I followed Katie’s “fake it, make it, take it” advice when selling the house my kids grew up in, built in 1996. It was dated with an original kitchen and bathrooms, with wood cabinets/ vanities. I had the first floor and the primary bedroom and bathrooms painted in sea Pearl- a warm greige. Th3 bedrooms all had carpet which I had steam cleaned. I painted one vanity, cleaned up the kitchen cabinets, and refinished the wood vanities in another bathroom. I did not replace dated floors or the laminate countertops. I made sure it was spotlessly clean, took out most of the furniture, and brought in decor I bought cheap on Amazon after searching for “ modern decor”. My real estate agent had a professional photographer with a drone. It sold in one weekend, with 4 offers more than the asking price. Could we have gotten a bit more? Maybe but the immediate sale was so WORTH it. The lack of stress and reduced ongoing costs made my life so much easier.
This sounds like my house except the roof windows and driveway need work and I have no money. Therefore, I am at a loss because I feel like that puts me out of the unpolished potential category.
@tonimurray2865 I feel you. We could use new windows though the existing ones are perfectly serviceable. The exterior is just starting to show it’s going to need painting and the kitchen is super dated. I do not have money to sink into all of those things prior to selling.
@@gretaeberhardt541 I guess we can still fake it till we make it and do as Ellen Foster has stated. Hopefully family can be a help and not a hindrance and let strategy dictate the tactics, hence the fake it till you make it! In my case, my immediate family has slowed the process, and at 67 i’m finding setbacks harder on the body but not to give up and press on, we go!
@@tonimurray2865 you can get the price on a new roof so you have actual numbers when buyers look at it. People tend to overinflate what things will cost. I intend to do just that on a property I am putting up for sale. I will offer to leave money on the table for the new buyer to use a roofer of their choice. The title company can hold the funds or give the deposit at closing. This allows owner occupied buyers (who generally are willing to pay more than investors) to have a new roof when they take over the property.
@@tonimurray2865 Hello Toni. Consider going to your bank and getting a loan to complete projects. I know it sounds crazy, But, my friend did just that. She repaired the roof, replaced 2 windows, She cleaned up the driveway, but left it as is. She painted the kitchen and living room. Then she got serious about decluttering and cleaning the home. It sold in 63 days. She paid off the loan and took the rest of the money and bought a townhome.
Nicely done! I’ve bought and sold tens of homes over the past 40 years, including personal residences and investment homes. I’ve never seen advice as level-headed and “appropriate” as what you have offered here. Good work!
I am so tired of buyers complaining about home prices when they expect HGTV ready homes. We are all busy. Expectations are no longer matching reality. It costs money and time to make the home HGTV ready so the seller expects to recoup that money and when the buyer comes back and expects further reductions, instead of negotiating up front, of course the seller gets upset. It's time for a reality check
Totally agree, the buyer should expect to enjoy the journey, with sweat equity, to MAKE the home look like HGTV. How in the world is a Seller spozed to know what every potential Buyer would want? It's unreasonable.
No everyone has the cash up front to do it, either! We ended up having to put what little we had into major repairs on our family estate. So it still looked a bit dated...but it was CLEAN! I deep cleaned every nook and cranny more than a pro houses cleaner would do...with attention to detail. 2 Story 3,000 sq ft house! The #1 remark we got from lookers was that it was clean. The cleanest home they had seen!
I’m so with you! Totally out of patience with these buyers! I just had 2 and both wanted bargain basement deals and when I asked their reasoning they said it’s dated! Only slightly needed updating and one was already $140,000. Under market value and only updating needed was kitchen appliances. The other one could use a fresh coat of paint and was already $30,000, below market value!
Nah they just expect homes that don't look dated. If your home was built in the 60s, 70s or 80s, the decor and the rugs shouldn't look like it. And then still wanting a high asking price of the amount of new builds in the area. No Mam! Sir!
Great video! The best advice I can give is 1) Once you decide to sell your home it is no longer your home. It's a house. Take the emotion out. 2) Listen to your agent, do what they say, and get out of their way. Let them do their job. Make it easy for them to do what you are paying them to do. If you do those two things the rest will fall into place.
I used to go a bit further... it's now a product. Until buyers get emotional about the purchase, they will simply consider it another product on the market.
When we sold our home of 27+ years, I prepared a binder with major facts about the house and community, including a page with dates of upgrades, appliance dates and all companies we had used for work or maintenance. It helped the agent and prospective owners. Carpet needed replacement, so we did - using builder's grade materials. That was torn out soon after the sales. We followed the staging advice of our agent. The home sold quickly.
I know when I sold my last home, you were still selling cookies door to door. But I was not getting buyers because builders were selling new homes with new appliances and fresh paint for the same price point as my 10 year old home. My landscaped yard added value that young buyers overlooked. So I raised the asking price. I immediately got what I called a “better class of buyers”. Before long I accepted an offer similar to the original listing price.
@@JessicaT-qp9uv as a buyer, if you can see past poor paint choices and horrid mismatched decor and too much furniture, you can get a great bargain because most buyers can’t see past the lack of decluttering and staging.
We saw the writing on the wall and started cleaning, clearing out, garage sales, donating, painting everything white, & renovating. Then four years later we put our house up and sold in a few weeks-no open house, Realtor priced it right🥰. We fixed everything on their list-it wasn’t too much money because we went through a list of our own before. We moved out with the help of a moving company, donating & large garbage bin, stored furniture, lived with a relative for a month. Bought in a 55+, put offers in on 2 homes, one house met our counter 🎉 4 years later-happy! Did it right before spring of 2020! Best decision ever🎉 Took so much stress off us at the age of 62, we retired early after buying a smaller home=smaller bills ❤ Sold in the Fall 😁🎃 A great Realtor really does make a huge difference!
That which you did in 2020 won't make financial sense anymore. To size down means buying in a not so great neighborhood and overpaying. You barely made it thru.
I totally agree about the declutter, I had so much stuff and after my husband died my daughter and her husband moved in with me, I asked them too as one of them got very sick, I gave them free reign to decorate the way the way they would like. Well the difference is Amazing! I never thought my home could look this good. Loving it 🩷🩷🩷🩷
Um, your buying a used house. I’m not “updating” it so that it’s new. The heating/cooling, appliances and electrical system will work and be up to code. You want 2024 decorating? Hire a decorator after the purchase to paint all the walls grey, put in fake wood floors and white plastic kitchen cabinets. You don’t get a “personally” decorated used home. I have a three bedroom, three full bath house right outside NYC on a beautiful piece of land in a suburb with an A+ school system. If any of the HGTV crowd are able to afford it, they can HGTV decorate it themselves. I’m busy too.
I'm also not on board with the idea that you have to chase trends if you want to sell your house. I have cinnamon-colored shaker cabinets and granite countertops...and no backsplash. And I'm keeping them that way. I'll likely replace the handles since the old ones are pretty beat. When I look at the "have to"s for my 5-10 year timeframe, I'm thinking replacing the heat pump (which is 7 years old), water heater (once it hits 10 years) and that's about it for major systems. I'll likely replace appliances before then anyway. I'll paint the entire interior, and replace the carpet if deep cleaning won't do it. The house was renovated in 2015 and the idea that you have to redo your kitchens and baths every 10 years is absurd. To spend $75K to get $25K more for my house is nuts. I do my maintenance and pre-emptively replace things when necessary. I also plan to buy, then sell. I have no mortgage and can borrow against assets + get an equity line on the current house. I have a friend who's a very good realtor and specializes in staging.
It's not about chasing trends, it's about appealing to the masses and mainstream. The right price will sell any home. The question is do you want to maximize the value of your home, or do you just simply want to offload it. I'm a Realtor in the MD/DC marketplace. I always give sellers the choice of maximizing the value in which case it will involve many of the suggestions Katie states. I also provide them the opposite extreme of as-is and requesting they simply do their dishes ,and oh yeah please put your toilet seats down. 🤦♂️🤦♂️ We can sell the home either way, but the sales price could be tens or hundreds of thousand dollars difference. Ultimately it's the sellers call. Do they want ease and convenience at a much lower price, or with some time and investment to make 4-5x in return. No rights or wrongs. It's unique and personal to each person. Thanks for the great video Katie. 🎥🎥
@@KevinGrolig There's a lot of gray area between "appealing to the masses and mainstream" at any given moment and "just washing the dishes." Most people can't afford to, and don't WANT to, have to renovate their kitchens every 5-10 years because of "trends." Yes, it's good to avoid things like those glass backsplashes that were so popular a few years ago and look dated now. Subway tile used to be classic, and now I keep hearing it's "over." I am not going to take my beautiful real wood cabinets that were installed in 2011 (yes, they are shaker style) and paint them white. (I hear white kitchens are "over" too). You see my point? Sure, I'll put new pulls on them because the ones I have are kind of beat. But the last renovation of my house (before I bought it) did everything in that oil-rubbed bronze, which is "out" now. Am I going to replace every doorknob and hinge in my house because black is trendy now and then have to do it again to chrome, or something else later? No I am not. Guessing the decorating taste of any individual buyer is a fool's errand. Of course if you last did your kitchen in 1975 you need to update it. If your kitchen is 1990s "Tuscanesque," yeah, it's going to look dated. Yes, you want to keep things neutral, and you also shouldn't be TOO trendy. But no, I'm not going to paint my real wood cabinets white when tomorrow white will be "dated" and everyone will want wood again. You know what I WOULD do? I might re-roof if the roof is 10 years old by then. I'd replace the heat pump and water heater. I'd put in new appliances if more than a few years old and I'd paint. I'd power-wash the front walk and driveway and plant some things even though I know they'll die next year. THOSE are the things that if they go, are a big expense for a new buyer.
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that our generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 54.
Safest approach i feel to go about it is to diversify investments. By spreading investments across different asset classes, like gold, silver, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Melissa Terri Swayne turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
The people that I know over 60 do not look like they are on their last leg like the ones highlighted in this video. I find the frail and weak pics that are often used to portray older people are off putting. Lots of people are growing older gracefully, look healthy, and are vibrant.
Realtor here. When I started as a brand new agent, I met an agent who'd been doing this for 30 years, was not part of a team, and regularly attended technology and marketing training classes. His clients were not treated as though. They were a number and an assembly line. His years of experience commitment to ongoing training sales, track record and personal hands-on approach Consistently produced amazing successful results for his clients. He was a one man show, with preferred vendors, about 80 years old. I would just advise any potential seller to interview more than one agent and don't work with anybody just because they're well known in the community. Also ask the agent if there is any cost or benefit of improving versus selling as is.
My son was able to buy a house in his budget during the crazy days of 2022 because it showed poorly online. The colours were dark. The carpet was crumpled. Things were outdated. But the roof, windows, hvac had been updated. The day after they bought the carpet was pulled up ( hardwood underneath) and the entire house was painted a light neutral colour. What a difference. Good for my son but the buyer could have done those two things and would have much more interest. As you said, the online photos are the first showing.
I wish I could send your videos to my neighbor. She just put her home on the market and it is wildly overpriced. The carpet is old, several rooms have wallpaper, the furniture and appliances are probably 15-20 years old and the "art" she has consists of wooden plaques and dried flowers. But she is also extremely emotionally attached to the home. She and her husband rehabbed it from the ground up with the help of her father, friends and neighbors. They raised their children in that home. It is a beautiful home and well maintained but the interior needs updating, and I don't think she understands what younger people are looking for in a home. Great advice you are giving to older people trying to sell homes!
There is a buyer for every home is my motto. Some people do nothing to an older home that needs updating and it sells. Some people can see beyond the decor. Might take a little longer but there are buyers that aren't looking for move in ready. They WANT to rehab it to their own liking.
@@laurie6332 I am all about rehabbing, but her home is priced $60K over the highest comp in our neighborhood. The issue here is price versus rehab that needs to be addressed. If she wants anything near the price she is asking, it's gonna take some work.
I listened to this for a long time and it never did get to the 10 most important things,,,,, on and on and on about how wonderful you are. great. that is not what I clicked on this to hear!
You might want to reconsider your comments regarding older real estate agents. Age discrimination in the workplace is very common, and making generalizations about real estate agents based solely on their age is not appropriate.
She was just telling it like what's going on in "this market". I'm selling a 600k home and just LAST WEEK, interviewed an agent (70ish) that has sold homes in the City I live in for 50 years. I have known of him for 43 of those years, and has been successful, but out of the market for the last 10 of those years. He told me his "target fee was 6%" (selling only). I asked him if he might consider negotiating that, to meet some of the other brokers around. He replied: "If they discount your fee, will they discount the job they do for you? I'm good at what I do - I stand firm on my fees." He, obviously, was totally out of touch with the current times. He would not budge. We went with a top 5% listing agent with the top Brokerage firm around, at 2.25% listing fee. Many times the older real estate agents have rested on their laurels....while making it very well, without "changing anything"; however, buyers are looking for such a different scenario nowadays, and I've found that if agents aren't keeping up, they appear to be "outdated themselves".
I've rented and flipped a few homes in Pittsburgh area for 30 years. Kati is hitting the bullseye on all topics. No fluff in her videos, straight to point, no B.S.
Before I listed my house, I paid for my own inspection. This gave me the opportunity to address any concerns that might come up later. By the time I listed, I was able to provide a copy of the inspection report (and proof of repairs) to potential buyers. I think it helped alleviate the fear/stress some buyers may feel. Also - make sure your buyer has a pre-approval letter (or cash) in hand before you accept the offer.
Thank you! This is excellent! My husband and I have owned 6 homes in seven years(it’s a hobby of ours to fix houses and resale for profit) we love doing this but you are right it is very stressful. How ever, I want to tell everyone who reads this if they take your advice completely….your home will sale! Thanks again for such awesome information! 👏👍😃
How touching. You have a good heart. You also share from the heart. I look forward every week to your videos as well as two other realtors. You are very genuine. I had a great realtor when buying my home. I can tell you would have done a good job for me as well. Thanks so much! I appreciate you.
The two items we asked for was major electrical and minor roof repairs. I gave heard of stories of ridiculous requests like a knob on a washing machine missing etc.
Hello Kati, I appreciated this video. As a senior hoping to sell next year, this tips will definitely come in handy. I am still getting used to the sticker shock of home prices and realizing even if I get top dollar for my home, the next home will be smaller. Decluttering is a must.
@@ladismorgasbord1574 decluttering before listing will make yoir actual move sooo much easier and cheaper although I threw or gave away sooo many things I saved on moving costs and also stree also you may need some new furnishings even if majorly downsizing I did need a few things for my smaller new place also
Excellent video and I will confirm what you said about loans to retirees. We purchased a condo a year ago and the bank gave us a very hard time with the mortgage process. We are retired and had more than enough in our investment accounts but without an income, we did not check off their rigid requirement boxes. After jumping through one hoop too many, I asked my husband, "Why are we putting ourselves through this? We have the money to pay cash," and we were done. It was worth it to get the bank nonsense and stress off our backs and also, to save a lot of money on BS fees and interest. No regrets!
I sold my house of 25 years. I had a great agent, Robin Miller of Remax in the Boston area, She gave great advice, which I followed. Got a great price. And I am so much happier in my new place, having shed literal tons of old, no longer needed possessions.
As a buyer, I absolutely hate it when the seller’s agent is there. I want to take my time and get a good feel for the home. If the seller’s agent is present, I just get in and get out as fast as possible.
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Consider reallocating from real estate to other reliable investments like stock, crypto or precious metals . Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice, but it may be wise to invest, as cash isn't ideal in this period.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
Young, trendy buyers can make any house they are lucky enough to buy into their own home themselves. They should be happy to get any house they can afford and then make any changes they want over time or none at all and make do. That's true today and absolutely in the past; this is nothing new.
@@Ann-sf6od In the late 1970s (in the middle of nearly 10 years of massive, unchecked inflation) as a single mother with minimal child support, I bought an old house (1947), old fuse box and leaky basement included; it did have a new roof. Over 7 years I paid to upgrade the electrical, sand and refinish the carpeted-over oak flooring, and minimally upgrade the kitchen and baths to suit me. I also did tons of work myself, including all the painting, some landscaping, planting, installing shelving, and laying vinyl flooring in the baths, kitchen and entry hall; there was much more. I paid to install storm windows and central air conditioning; it had no AC at all. Later, I had half the basement built out into a bonus room after I had to pay a massive amount to have a trench drain installed to drain the outside source of the leaking. All while raising a child, working, doing all the yard work and housework and cooking and shopping, and no help from anyone other than just enough for a down-payment to buy the house which was a godsend that most people don't have. I inherited just enough from my grandmother (born in 1890) whom I had taken care of in my tiny apartment until she died, also while trying to work and raise a child. I sold the house after 7 years for double what I paid for it, partly due to inflation. If you really want something you will work to make it happen, one way or another. Do it while you are young because you cannot conceive of how aging will rob you of energy beginning after age thirty which I was when I bought the house. Don't waste it partying and having fun.
Here in Texas, I see so many homes listed that have every room a different color, heavy, old dark furniture, and drapes with swags and animal trophies everywhere. You just can't get the best offers with all that to deal with. Sellers are still attached to their houses and ca'n't get into the mindset of "neutral and depersonalized SELLS!" and the right price, of course.
What part of Texas are you in? I live just outside of Houston and see many houses like you describe sell quickly and for close to asking or above. I even see brand new multi-million dollar houses being decorated like this--and they sell! The "old money" aesthetic is hugely popular here, at least for the more expensive homes. Anything under 350 seems to be more neutral and depersonalized.
Yeah right. I sold my house as is and then I was supposed to fix cement that costs me 2 grand. In the end, I felt like my real estate agent was in cahoots with the buyer's agent and they only cared about their commissions. Another stressor is the mortgage company that send you reems of things to sign. When you are selling and buying at the same time, it can cause a mental breakdown, then you have to coordinate your moving company while the mortgage company keeps changing your closing date.
Same issue and my agent was asking me to consider the buyer’s situation. I had put $25,000 into the house removing carpet and redoing the original 1950s hardwood floors, did get rid of the vinyl type counters and found some inexpensive granite that looked like a marble, the installer sealed it, had new fixtures put in, new vanity in one bath, painted the other. New hardware, medicine cabinet and light. But I was still trying to decide if I wanted to stay in the house but finally decided against due to the traffic noise all day and much of the night. Also painted every room and removed wallpaper. It sold to a young guy who worked all day and probably was busy and out at night so the noise wouldn’t matter and in good area just had a busy street two houses down. It sold rapidly, probably could have gotten more money. I held to the min price even though I had multiple buyers but found out the agent was telling them it was sold. These people came to my door and told me this. I was so mad. But what could I do, it would have cost more to sue her and the company. She told me to do a huge cab repaint that did a terrible job, she said they were great company. She wanted me to spend $3k to have a closet put in a twin room, I staged it that way. She also was like 40 minutes late to open house. She was going to bring refreshments and did. Thank goodness at least I baked cookies which made it smell nice and everyone liked them. Now had I left like she said to do before the time, those people that showed up would have been mad no one there. I really felt like she was working with the buyer and his agent to get them that house. I mean when people come to your door and tell you these things and when. She found this out she really pushed for him. She was also about to run out of the contract and knew I wouldn’t use her again. I should have just told her to do you know what. Do not let an agent bully you into something that doesn’t feel right. Get another agent if you feel they are helping one buyer more.
WORK WITH YOUR TITLE COMPANY AND SELL YOU HOME YOURSELF! I NEVER PAY AGENTS TO DO SOMETHING I CAN DO! SAVE BIG $$$ BY SELLING YOURSELF! YOUR TITLE COMPANY WILL DO ALL THE PAPERWORK! HAVE THE BUYER PAY ALL CLOSING COSTS TOO!
@xavierminchello8431 Depends on the area and depends on the situation. My sellars are netting usually half a million dollars more through my efforts. But in lower priced areas, i have seen it.Wear the title company might have been a good route for some people. Usually in lower price areas.This might be a good strategy.Definitely not in higher price areas where the marketing can make hundreds of thousands of dollars of difference and or if you're an air in an area that is prone to lawsuits. As long as. You don't sign through coercion.It's always a good idea to interview multiple agents and see if they can offer any benefit to selling it yourself.You don't know what you're missing out if you have a good agent versus a bad agent or do it yourself unless you interview
I just went through the process to get a bridge loan and I was "pre-qualified." The final approval depends on what exact property I want to buy, but I've done the preparation and I'm ready to go.
I have heard from numerous people that the housing market is so tight that you don't have to do anything and it will sell rapidly and that new homeowners change the paint, carpet, etc. to fit what they want for style.
Excellent video. We sold our house about 5 years ago. We learned the hard way about #9. Only my husband was receiving social security and I had retired. We were quite hard pressed to get a mortgage big enough to carry us until we sold our existing home. I had to sell some investments to satisfy the builder and still have enough cash on hand to cover the down payment. As it turned out I only needed the mortgage for about 5 weeks but it was still very difficult to get the financing. I was lucky 5 years ago because I was able to get a 3% mortgage. Now, at 6 1/2%, financing the new mortgage would be even more challenging.
I feel like you were talking directly to me! We’ve been in our home 30+ years and talking about moving closer to our grandkids. So the #10 rule definitely spoke to me, thanks for your terrific advice! 😊
I plan to sell my 2017 home early next spring. Prior to listing, I plan to have my own inspection performed on my property. That way I can address any potential issues, so there should be no surprises.
I am being told by my Listing agent that the Buyer's lender will use their own inspection; therefore I shouldn't spend the money to have one done. Why would I want to get an inspection done? Does anyone have an answer?
@@dlemmon1276 true, the buyer is entitled to obtain their own inspection. However, I don’t like surprises, and if there is anything that needs attention, I prefer to do it on my own time, instead of being rushed. Not to mention, I have the time to select those subcontractors to perform any necessary repairs. If I were looking for a property and saw that someone took the time to have it inspected prior to sale, I would understand that they are very proactive, and serious about their price.
@@dlemmon1276 yes, it is true that the buyer has a prerogative to do their own due diligence during the inspection period. However, I wish to be proactive about any necessary repairs as it will give me time to acquire bids and select my own subcontractors. I have been on the other side of this when you have two weeks to make repairs, and you were at the mercy of whom ever can do it fastest.
Great Video with great ideas, as we are looking to list the house next summer, we decided that in previous house purchases closing simultaneously is to much stress. As we will relocate out of state we are going to sell, then we will rent back where we are going for now to look around and see what area we want. The biggest unknown was this new law about commissions but you have somewhat explained it. Now for real estate agents the town we are next to that has the agents is only 30,000 people so we are doing our homework. So thank you for your videos.
Really appreciate your advise. My roadblocks still have no solution. How do you make the updates if all your money is in the house? (House is paid but no disposable income to update.) Do you just leave money on the table and get whatever you can in AS IS condition? Where do you move to? Saw your video about buying on contingency and it doesn't sound like a good option.
The biggest "deferred maintenance" on my home is something I can't do anything about. It's tree roots under my driveway. And the tree is on my neighbor's property. I've been told by my arborist that jackhammering up the concrete, laying rebar, etc. will involve cutting tree roots, which will likely kill the tree. The neighbors do not want to remove the tree. This is why the people I bought it from didn't redo the driveway. To make matters worse, it's cracked and heaving, largely because when it was poured decades ago, there were no expansion joints done.
@@KatiSpaniak Not if tree roots being cut will kill the tree on the neighbor's property. We aren't talking about branches. We're talking about the roots.
It seems that the flip-side is that you neighbor owes you for the destroyed driveway. But it is possible that the prior owners did get compensated and pocketed the money and the stuck you with the problem.
Only a state-licensed attorney can help. But I'm a Realtor and good neighbor. Any chance the drive could be removed and replaced with stones or pavers with planted ground cover between (checkerboard style) or even just high quality gravel or crushed granite with edging left/right that would contain it? That attorney can guide you about any disclosure needed if you sell. Check you deed restrictions/zoning, too, as to any limits to driveway materials. One more thing!😂 That heaving may be a trip hazard in the eyes of your insurance company, so safety needs to be considered. Good luck!
Great video! My question is, aren’t we still in a sellers market? The video is leaning more towards a buyers market. The area I live in is still in a sellers market. Most homes are only on the market for a week and sellers are getting multiple offers. And I am sure most of the houses have not been updated, prepped and staged.
I sold several homes. Moved a lot. Some homes I did a lot to the homes, some I did nothing due to time constraints or had already moved out of the State. Every home sold in a timely manner even in 2009 when every home in America was up for sale or foreclosed on. No matter what the condition of a home, there is always a buyer out there. Get a presale inspection. Get ahead of those things that need to be taken care before being sold.
I aged 10 years in the 1 year it took to prepare my house for sale, getting rid of my crap, buying another house. Probably the most stressful year of my life. Everything went wrong. If i had it to do over i would have done the cleanup/preparation over a 2 year period. Great vid.
I laughed when you said that today's buyers know everything because they did their research and then you used the example of Google Earth. If you look up any street view image of my home it is more than 3 years old (the images have a 2021 date on them) and my house doesn't look anything like that now. New siding, different colors, trees removed, all new landscaping. Perhaps these people aren't as smart as they think they are.
google updates their picture of my house about every six months........ so I guess it depends on where you live. I live in Northern California in a hot and trendy real estate market........... all the children and grandchildren of rich bay area types want to buy in my little city because the houses are cheaper than the bay area, but the schools and shopping are fantastic............ so google accommodates by updating the pics.....
If I could give this video more that 1 thumbs up, I would. This is exactly my situation. My house is 60 years old and still has the orange and red shag carpeting with original hardwood underneath. We moved in 30 years ago and did a bunch of stuff then. The mechanicals have been updated but...everything else??? I downloaded your Seller's Playbook and will use that as a guide.
My former house had that same carpeting! Have the carpets pulled up. You'll be amazed at how good the floors underneath look. They may just need a good cleaning, not complete refinishing. I had the floors refinished, but I had already moved out. My realtor handled hiring the guys to do these kinds of fixes; I just had to pay their bills.
My property is located in a desirable historic neighborhood.thankfully, most young buyers want an imperfect house because they can’t buy in the neighborhood with perfect conditions. There are very few starter homes and even those are just beyond a first buyer’s reach. Ive already started working on my repair, maintenance and enhance punch list. I’m definitely prepared for the inspection regarding price or term modification. Still hiring a realtor because without one, all my ideas are could be wrong. I need their expertise!
Superb video. We've seen over and over and over and over that family/friends get too attached and lose the reality perspective. Important things to share: 1) The memories are in your heart and scrapbooks/albums and if not, then it never mattered. 2) A house is a PRODUCT. It is a manufactured PRODUCT made of lumber, concrete, wiring, tile, glass. It is NOT a sentient being- let go...
The info you provided is very helpful, especially because my husband and I will probably sell our home within the next 5 years. (Looks as if we have a lot to do in that timeframe!). However, I did not enjoy all the cut-aways to young people walking thru a house, older homeowners looking anxious, homeowners meeting with their realtor, etc. A few of those could be fine, but in my opinion, there were too many of those cut-aways. I don’t need to see those to understand what you’re saying.
I’m a new sub. Great advice. Love your energy. Please correct the following: Fewer showings. Not less showings. Showings is plural so it’s fewer not less.
Our daughter (36) and husband hate the beautiful woodwork in our house (24 years old). We will be selling in the spring but will not change out or paint the woodwork.
Don't stress, there are also a ton of 60+ BUYERS like me, who appreciate Real Wood. I actually can't stand white painted MDF woodwork and cabinets, it just says "cheap" to me.
Thankyou! I will be looking for a home in the next few years and would LOVE to find one with the original unpainted woodwork. I'm sure I'm not the only one.
Once someone paints the woodwork, it's basically gone forever... these kids were raised with everything being disposable. They don't understand quality if it hit them in the head.
House I grew up was built in mid 60's ,3 bedroom i level ,the whole family used 1 bathroom.. My bath day was Tuesday , with 7 brothers ,sisters .not what new buyers are looking for ..🤠
Same here. My parents home was about 1000 sq ft 3/1 with NINE kids. I laugh when a young couple, on HGTV “don’t have enough space” in a 2500 sq ft home with 2 or 3 kids! HA! 🙄
I grew up with a mom, dad, sister and I and ONE bathroom. We made it through, but was very happy when my sister spent the night with a friend. Kids today don't want anything uncomfortable, the least bit inconvenient, so they grow up with unrealistic expectations - we used to call it being "SPOILED"
I would say "Maybe that's why they can't afford homes," but that's not entirely true. The small ranches and capes built in the postwar era (1946-1965) have mostly been torn down or expanded. In the 1970s, the raised ranch/bilevel was popular and today people detest that style. Now, to the extent the single-family homes are being built, they are all either enormous -- at least 2500 square feet and well over a half-million dollars in a LOWER cost area -- or they are tall skinnies, four to a lot, with no yard and shared driveways -- and very little actual living space, never mind the "entertaining" space that the HGTV-influenced buyer wants. Where I live, it's all about higher density, so SFHs are for only the wealthy, and for everyone else it's 3-story garage-faced ugly "townhouses" or rental-only "Texas donut" apartment buildings.
We have an older home on acreage. We have repaired and upgraded, but it always needs more. Yes, we have clutter! So, it seems like it will be too much stress to sell this one and find another. Doubtless, many potential sellers are in the same position. This pits a huge cobstraint on the housing supply.
They want to show photos to their friends who will say "wow, it's beautiful". Yep, buyers nowadays are shallow and want a house that strokes their shallow little ego.
Next time we ever sell anything we will sell by ourselves because we are tired of realtors only caring about the commission . We have not had very good experiences with them. Fed up!
I sold my home for downsizing in 2021 at age 63 . My Realtor ( also she is a friend of 20plus years) told me I would get about $600K ( or $650k if I was lucky, "as is" , which sounded fine at the time... but... she followed it up with "if you invest about 100K in renovations and improvements, we can list it for$1M. A no brainer, right? I ended up investing $110K , and it sold for $1.18M . Just the difference in that "before/after" completely paid for my new home ( which I love even more) IN FULL including all options that I wanted that the builder offered. I became privy to info Realtors know about buyers perception, and the woman in this video is absolutely correct. I made an EXTRA HOUSE by a $110K investment ! Sure, your house may "sell" as is , but your bottom line is WELL worth the improvements. This woman definitely knows what she's talking about!
@@CP-nf9my I live in a hot area so my house is now close to a half-million dollar home. I could put $110K into it and it would still not sell for $1.18 million in my neighborhood.
@@CP-nf9my As you probably know, housing varies for what you get in different locations, for where I live , this isn't uncommon. What one should spend of course depends on the situation and what the best for their particular outcome is. If a house is $3M then maybe they would spend much more than I did, or if $150K house then much less. Mine was simply due to appreciation in the area. I only paid $255K for it, a mid range property at the time. My point is, some people don't want to follow a Realtor's advice about sprucing up for a better return, to the detriment of their pocket book. Tapping into home equity is a wise route for many if they don't have whatever cash needed on hand, as It produces a more profitable bottom line when house sells. A good Realtor knows what needs done , it's their job to get the homeowner the best bottom line. Wise sellers follow that advice.
@@jillcnc Yup. I live in an approx $400,000 +/- neighborhood. An older neighborhood where one builder built the entire neighborhood "back in the day" in three or four different styles (not cookie cutter houses). One neighbor put a ton of money into selling, and sold it for almost $800,000. I don't know what buyers were thinking because never, ever will they be able to recoup how much they paid for it. The market might be hot now, but the housing markets flip flop all the time. Houses are over priced right now, but they will come down eventually. No matter how long the people who paid $800,000 live in their house, they are still living in a $400,000 neighborhood. They over paid because the sellers put too much money into it to get top dollar, and the buyers bit. It doesn't change that all the other houses in this neighborhood are all assessed at approx the same price. I can't see how they could ever sell that house for $800,000. again, no matter how hot the market is. I do wonder how long it will take them to find that out. It was a win for the seller. Buyers not so much in my opinion.
Thank you so much! This was very informative for this 65-year-old senior. Our problem is we are sitting on a $1m home but have only SSI as income. I don't know what we are going to do.
I've sold several properties myself as an owner and I'm not much on realtors in general, but that one out of 80 that actually do their jobs (sell in my case) are awesome! I think most do a pretty good job on the buyer's agent side of the fence. I sold some multi-family properties and used a local guy that specializes in that (who's older than dirt) and he was a rock star! While i didn't want to pay what I had to pay him, he did his job as we agreed and actually impressed me! He did it all! And I never gave him an MLS!! He brought the buyers and qualified deals. He actually never worked for me in this arrangement, he was acting as the buyer's agent. I don't get muddled up on that as experience has shown me neither matters that much to me. It's about what you want to happen and when you want it to happen, the rest is the reality that separates the two.....
VERY helpful. When I sold my home 25 years ago and bought another, I did my own staging, it was successful, pristine everything, including my better homes and garden yard. Now I am older, the house is a lot bigger, and the yard is very difficult to keep up. I tried hiring people for all of it, but getting them to do the work has proven not worth it at their pricing, especially when they don't show up. I am disabled now so I have to move. I don't know how to do this. Would I be better off selling to an investor company? My credit is over 800, but I don't work now. mechanicals, roof, windows, all new, but all but living/dining room and basement need painting. Flooring in the kitchen needs replacing (wood floors everywhere else) and one of the baths could use an update.
(Oops typos) Clean but dated is OK. Just start on one end and work your way across cleaning and decluttering. It will show as a well loved, respected, and cared for house even if it is dated.
27:42 So I think what you’re saying is the buyer’s agent shows the home. I’ve never personally even realized anyone expected the seller’s agent to be at every showing
It's expensive to have a seller's agent or representative at every showing, so in the sub-million market, the traditional commission isn't high enough to support that level of service. There are advantages to having the seller's agent present, such as turning on all the lights, opening shades, and the like. They can also be sure that at the end of the showing, all the water is off, the lights are off, and the doors and windows are all locked. They can also answer questions that come up, but shouldn't be hovering while the buyer's agent shows the house. The most important thing a seller's agent can say is that the seller is entertaining all offers.
I have explicitly told my parents that I will resent them even after they have passed if they leave my brother and I a bunch of clutter/junk/stuff to deal with. I have slowly been transitioning into a minimalist lifestyle. So having to deal with that would drive me insane.
My FIL left us his "hoarding house". It took a year to sort out, and even longer to fix. I'm not a minimalist, and neither is my husband. If we were, a big dumpster would have streamlined that process. We were just grateful to receive a free, PAID FOR house, worth way more than what we could have afforded! He didn't have to leave it to us. I think if my kids ever said something like that to me I'd figure they didn't need a house that bad.
Your perspective is exactly why, at age 66, I am a minimalist. While there may be other reasons to resent me when I'm gone, clutter won't be one of them. 😆
That is what happened to me. I found one in the same city. The home was that I wanted to purchase. Put 30% down. Was prequalified. Did plumbing electrical instruction and inspection. It off sort of kind of past, but when I did repairs to the work City and County came in and found out that it never should’ve passed so yes, there are untrustworthy realtors out there. Not all just a few.
So we live in a two-story (plus full basement) townhome with 2-car garage and wood-burning fireplace. It was a model home decorated in warm pastels-and still is. Wall-to-wall salmon-pink carpeting which we have loved but which is falling apart after 44 years. The kitchen sheet vinyl is worn through in spots but can’t be replaced without gutting the kitchen back to the studs, because the subfloor is damaged and warped and will need to be replaced (and the cabinets were poor quality and are literally falling apart). Now my husband (age 77) just lost his job and we are not able to afford a renovation. I love my old furniture and would want to move to a single-family home that would accommodate it. So decluttering is not in the cards. If I eventually were ready to sell, should I renovate regardless of the hit our retirement fund would take, or sell “as is” and take a lower price? I hate the thought of having to decorate and renovate according to someone else’s taste. I would like to put in hardwood floors and porcelain tile (maybe sheet vinyl in kitchen). I hate the thought of replacing my lovely pastel carpet with neutral carpet. We own our home so that’s no problem. We lived in an apartment for nearly 10 years before we bought our townhome and have never sold a home. The home overlooks a retention pond which is quite lovely but folks with small children might not want.
Those companies have a place in the market. If you have to off load quickly due to a divorce or death and don't have thousands of dollars for repairs or staging, sometimes their low ball price is better than trying to get it market ready. Even "as is" companies compete with each other because they all know (and we know) they are just going to polish it up with cheap repairs and paint and flip it. There are situations where someone needs an as is buyer. It's not always about getting the biggest buck.
I'm finding it hard to trust any real estate agent. What, exactly did they get sued for? They fix it so THEY win, every time. Not to mention they buy up all the good fixer uppers first before regular people can get to them, then they flip them for big bucks.
their association was sued because they had fixed the commission on real estate at 6% nationwide, paid by seller..... and if you didn't want to pay 6% and negotiated a lower commission, the other realtors shunned your property............ it was considered price fixing............ I personally, think it is utter BS that realtors commissions are a percent of price.... it's not like a realtor does more or less work to sell a $300k house than they do to sell a $900k house..... but the commission they receive is substantially different.......... and what exactly did they do that warrants $18k-$54k in commission? their fee should be a flat rate, period.
10 днів тому
@@monicahamm3353 Thank you for clearing that up. All realtors do is put your house on the MLS, put an ad in the paper, & perhaps hold a realtors lunch at your house or an open house. On TV they negotiate & advise clients but in my experience, all they do if present your offer & they probably sell you out by telling them what is your lowest number, how desperate you are, when you have to be out etc., because their personal goal is just to sell it. They don't care if it sells for a few thousand more--it doesn't affect their commission much. Plus, they get you to price it lower than it should be so they will have an easy time selling it. That's the same reason they want you to fix it up & stage it. The seller should not have to pay the commission, they should split it with the buyer.
Always a ton of great information in your videos, Kati! Is it helpful to consult a realtor before we redo our bathroom in our 70's home? We want to take out the spa tub and do a floor level shower in our master bath.
I’m not 100% sure, but in NY I don’t think you can sue the home inspector. I knew a couple of people that had inspectors that missed problems, but had no legal recourse. Sad.
Depending on the area, painting is not cheap. I had my whole house repainted (for us,not for resale) total cost was north of 25k for a 3 bdrm 2.5 bath house. In part this was due to having cathedral ceilings and lots of built-ins but still I wouldn't call that a cheap upgrade
Your agent should reach out. I lifted blinds up one time and they broke. I called the agent to tell her. She said not to worry because they were broken. However I would’ve paid if I needed to
I'm not dead yet! I am 75 and I got my 1800 SF home emptied, new flooring installed, painted inside and out, staged inside and out and on the market in a month. We got a cash offer in 2 days, 96% of our listing price, and our agent encouraged us to reject it. Then we got an offer on the 5th day, full price, and our agent convinced us the buyer was rock-solid. We signed, then 6 weeks later the buyer backed out right before closing. Back on the market 2 1/2 weeks now with no offers. The market has just turned south in our area, so we are lowering the price (against our agent's advice) $50K. I am thinking we don't have the right agent. He is the next-door neighbor and we don't want him to lose face in his own neighborhood.
Your buyer was that cash offer which he advised you to reject. I would say you already know the answer to the question of whether he is the "right agent." Sorry that happened, that's a real bummer.
I had a terrible experience trying to sell my home in August. There was a lot of bullying and lying on the buyers agents end and a lot of neglectful indifference on my agents part. I ended up not signing at closing, (the buyer missed his deadlines), and I’m ok to hang onto the house since I have 3% on my mortgage. I am considering writing up a complaint to my state’s Real Estate division. I’m so angry by the disrespectful and condescending way I was treated that I just can’t let it go. I already am $1000 out of pocket to have a lawyer draw up a mutual release form I was so distrustful of the agents and would not sign a cookie cutter, boiler plate mutual release sent by the agents. Is there anyway that a complaint sent to the MREC can come back to bite me after the fact?
When updating your home- should you leave built-ins ( bookshelves) in or remove them? I have a home from the 1950’s and it also has a built in corner cupboard in the dining room. I use it but when I redo the dining room I don’t know if I should take it out. Any advice?
Some very sound advice here but have to disagree on pleasing the young buyers market. It's not my task to present an HGTV looking house. The buyers can enjoy doing that for themselves. That's called sweat equity, and we're all busy, and all have the same time to accomplish whatever. Saying these buyers are "so busy today" is ridiculous. If you don't like it don't buy it. Others will put in their time and effort to make their vision a reality.
Well. We look for similarities. And I can tell in their communications with us. But ultimately it’s your gut that will be the deciding factor. We present three solid agents and you decide the personality you want to work with.
New buyers can be picky with what they want and the neighborhood they want SURE. People in hell want ice water. BTW I wanted those things too 20-30 years ago. You deal with what's available and make it your own,
Curious: WHAT IF we turned our home into a "Rental" for 6 months to a Year so that we could e.g. replace A/C, stabilize foundation, raise driveway, or etc which could reduce the cost of Some of those expenses via tax savings?
This is a big deal in my opinion. Renters can be difficult and they don’t care for your property the same as you. Better off consider a well priced property than suffer with renters.
Thanks for watching! Here are the links I talk about in the video!
Watch the HGTV video I talk about in the video here! ua-cam.com/video/1KcHI0tXueQ/v-deo.html
Watch the Declutter video I mention in the video here! ua-cam.com/video/t1_YV3pbc4M/v-deo.html
⭐ DOWNLOAD our FREE Seller's Playbook: bit.ly/SellerPlaybook73 🔥
⭐ Need an Agent Anywhere in the Country? bit.ly/FindAnAgentTL
I don’t want to pay a seller or a buyer agent. Too much to give it a way. 48 thousand to the seller this is insane!!
Hi Kati, My iPhone will not open the tiny url. Can you email me a link to the playbook please? I’ve tried everything, downloaded all kinds of workarounds, nothing! Thanks
@@edwinlopez8559sellerplaybook.com
my patio door is old and broken. my house is basically an as is......should i replace the door though? thanks Kati
@@theresahall1490 Have you taken the quiz in my playbook? If you are in restoration restored or concealable condition, probably not.
On the OTHER hand...my sister and husband sold their house in CA. They did new flooring, new counters etc. A few weeks after close, they came by to pick up mail and the new owners were ripping everything out. She was shocked! Happens all the time. So as long as things are in good condition...let the new guys update to their heart's content!
Yeah, I guess. A house in my neighborhood just sold. The new lvp floors had just been put down a couple of yr's. ago. I thought they were beautiful. The new owner has ripped them out. Seems kind of obscene to me.
@@penelope5500 A house near me had beautiful hardwood floors, medium-tone oak. The buyers paid top-dollar for the house and ripped out the HARDWOODS and replaced them with different hardwoods just because they didn't like the color of the ones in the house. That's nuts. Oh, and they divorced a year later, sold the house and didn't make a DIME, and we live in a HOT market.
I agree. Every single condo that has sold in our community has been gutted. We aren't wasting a penny even on paint because they are going to redo it. We have nice laminate-wood flooring, granite counter tops (but the brown ones), scraped the popcorn ceiling years ago, and changed the fireplace to gas. They can paint it whatever color they want when they buy it. But we are in Southern California and places sell immediately.
In SoCal expect new owner to replace all lovely wood & install ugly white tiles, concrete as much yard as possible, use garage for storage of stuff, not cars. Entire house will be either replaced or gutted.
Yes I’ve seen this also. TV ideas are not necessarily public ideas. Tv messes their pants at “popcorn” ceilings, ceiling fans, or cheaper countertops. Or they install a claw foot tub(aakkk) at some point reality needs to be addressed.
I followed Katie’s “fake it, make it, take it” advice when selling the house my kids grew up in, built in 1996. It was dated with an original kitchen and bathrooms, with wood cabinets/ vanities. I had the first floor and the primary bedroom and bathrooms painted in sea Pearl- a warm greige. Th3 bedrooms all had carpet which I had steam cleaned. I painted one vanity, cleaned up the kitchen cabinets, and refinished the wood vanities in another bathroom. I did not replace dated floors or the laminate countertops. I made sure it was spotlessly clean, took out most of the furniture, and brought in decor I bought cheap on Amazon after searching for “ modern decor”. My real estate agent had a professional photographer with a drone. It sold in one weekend, with 4 offers more than the asking price. Could we have gotten a bit more? Maybe but the immediate sale was so WORTH it. The lack of stress and reduced ongoing costs made my life so much easier.
This sounds like my house except the roof windows and driveway need work and I have no money. Therefore, I am at a loss because I feel like that puts me out of the unpolished potential category.
@tonimurray2865
I feel you. We could use new windows though the existing ones are perfectly serviceable. The exterior is just starting to show it’s going to need painting and the kitchen is super dated. I do not have money to sink into all of those things prior to selling.
@@gretaeberhardt541 I guess we can still fake it till we make it and do as Ellen Foster has stated. Hopefully family can be a help and not a hindrance and let strategy dictate the tactics, hence the fake it till you make it!
In my case, my immediate family has slowed the process, and at 67 i’m finding setbacks harder on the body but not to give up and press on, we go!
@@tonimurray2865 you can get the price on a new roof so you have actual numbers when buyers look at it. People tend to overinflate what things will cost.
I intend to do just that on a property I am putting up for sale. I will offer to leave money on the table for the new buyer to use a roofer of their choice. The title company can hold the funds or give the deposit at closing. This allows owner occupied buyers (who generally are willing to pay more than investors) to have a new roof when they take over the property.
@@tonimurray2865 Hello Toni. Consider going to your bank and getting a loan to complete projects. I know it sounds crazy, But, my friend did just that. She repaired the roof, replaced 2 windows, She cleaned up the driveway, but left it as is. She painted the kitchen and living room. Then she got serious about decluttering and cleaning the home. It sold in 63 days. She paid off the loan and took the rest of the money and bought a townhome.
Nicely done! I’ve bought and sold tens of homes over the past 40 years, including personal residences and investment homes. I’ve never seen advice as level-headed and “appropriate” as what you have offered here. Good work!
I am so tired of buyers complaining about home prices when they expect HGTV ready homes. We are all busy. Expectations are no longer matching reality. It costs money and time to make the home HGTV ready so the seller expects to recoup that money and when the buyer comes back and expects further reductions, instead of negotiating up front, of course the seller gets upset. It's time for a reality check
Totally agree, the buyer should expect to enjoy the journey, with sweat equity, to MAKE the home look like HGTV. How in the world is a Seller spozed to know what every potential Buyer would want? It's unreasonable.
Amen! Thank you!
No everyone has the cash up front to do it, either! We ended up having to put what little we had into major repairs on our family estate. So it still looked a bit dated...but it was CLEAN! I deep cleaned every nook and cranny more than a pro houses cleaner would do...with attention to detail. 2 Story 3,000 sq ft house! The #1 remark we got from lookers was that it was clean. The cleanest home they had seen!
I’m so with you! Totally out of patience with these buyers! I just had 2 and both wanted bargain basement deals and when I asked their reasoning they said it’s dated! Only slightly needed updating and one was already $140,000. Under market value and only updating needed was kitchen appliances. The other one could use a fresh coat of paint and was already $30,000, below market value!
Nah they just expect homes that don't look dated. If your home was built in the 60s, 70s or 80s, the decor and the rugs shouldn't look like it. And then still wanting a high asking price of the amount of new builds in the area. No Mam! Sir!
Great video!
The best advice I can give is 1) Once you decide to sell your home it is no longer your home. It's a house. Take the emotion out. 2) Listen to your agent, do what they say, and get out of their way. Let them do their job. Make it easy for them to do what you are paying them to do. If you do those two things the rest will fall into place.
@@lindawilson4625 soooo true
I used to go a bit further... it's now a product. Until buyers get emotional about the purchase, they will simply consider it another product on the market.
When we sold our home of 27+ years, I prepared a binder with major facts about the house and community, including a page with dates of upgrades, appliance dates and all companies we had used for work or maintenance. It helped the agent and prospective owners. Carpet needed replacement, so we did - using builder's grade materials. That was torn out soon after the sales. We followed the staging advice of our agent. The home sold quickly.
I know when I sold my last home, you were still selling cookies door to door. But I was not getting buyers because builders were selling new homes with new appliances and fresh paint for the same price point as my 10 year old home. My landscaped yard added value that young buyers overlooked. So I raised the asking price. I immediately got what I called a “better class of buyers”. Before long I accepted an offer similar to the original listing price.
I don't care how thw buyer feels. The right buyer sees it's potential and we agree on a price. You want something else, go find it and buy it.
Bingo! Thanks
@@JessicaT-qp9uv as a buyer, if you can see past poor paint choices and horrid mismatched decor and too much furniture, you can get a great bargain because most buyers can’t see past the lack of decluttering and staging.
Yes...I agree. Sell the bones and condition. Decorating is personal.
We saw the writing on the wall and started cleaning, clearing out, garage sales, donating, painting everything white, & renovating.
Then four years later we put our house up and sold in a few weeks-no open house, Realtor priced it right🥰. We fixed everything on their list-it wasn’t too much money because we went through a list of our own before. We moved out with the help of a moving company, donating & large garbage bin, stored furniture, lived with a relative for a month. Bought in a 55+, put offers in on 2 homes, one house met our counter 🎉
4 years later-happy! Did it right before spring of 2020! Best decision ever🎉 Took so much stress off us at the age of 62, we retired early after buying a smaller home=smaller bills ❤
Sold in the Fall 😁🎃
A great Realtor really does make a huge difference!
You are a dream client for any realtor!
That which you did in 2020 won't make financial sense anymore. To size down means buying in a not so great neighborhood and overpaying. You barely made it thru.
I totally agree about the declutter, I had so much stuff and after my husband died my daughter and her husband moved in with me, I asked them too as one of them got very sick, I gave them free reign to decorate the way the way they would like. Well the difference is Amazing! I never thought my home could look this good. Loving it 🩷🩷🩷🩷
Um, your buying a used house. I’m not “updating” it so that it’s new. The heating/cooling, appliances and electrical system will work and be up to code. You want 2024 decorating? Hire a decorator after the purchase to paint all the walls grey, put in fake wood floors and white plastic kitchen cabinets. You don’t get a “personally” decorated used home. I have a three bedroom, three full bath house right outside NYC on a beautiful piece of land in a suburb with an A+ school system. If any of the HGTV crowd are able to afford it, they can HGTV decorate it themselves. I’m busy too.
but if we want to sell our home, we can't have that attitude. Pacific Northwest here.
I'm also not on board with the idea that you have to chase trends if you want to sell your house. I have cinnamon-colored shaker cabinets and granite countertops...and no backsplash. And I'm keeping them that way. I'll likely replace the handles since the old ones are pretty beat. When I look at the "have to"s for my 5-10 year timeframe, I'm thinking replacing the heat pump (which is 7 years old), water heater (once it hits 10 years) and that's about it for major systems. I'll likely replace appliances before then anyway. I'll paint the entire interior, and replace the carpet if deep cleaning won't do it. The house was renovated in 2015 and the idea that you have to redo your kitchens and baths every 10 years is absurd. To spend $75K to get $25K more for my house is nuts. I do my maintenance and pre-emptively replace things when necessary.
I also plan to buy, then sell. I have no mortgage and can borrow against assets + get an equity line on the current house. I have a friend who's a very good realtor and specializes in staging.
It's not about chasing trends, it's about appealing to the masses and mainstream. The right price will sell any home. The question is do you want to maximize the value of your home, or do you just simply want to offload it.
I'm a Realtor in the MD/DC marketplace. I always give sellers the choice of maximizing the value in which case it will involve many of the suggestions Katie states.
I also provide them the opposite extreme of as-is and requesting they simply do their dishes ,and oh yeah please put your toilet seats down. 🤦♂️🤦♂️
We can sell the home either way, but the sales price could be tens or hundreds of thousand dollars difference. Ultimately it's the sellers call. Do they want ease and convenience at a much lower price, or with some time and investment to make 4-5x in return.
No rights or wrongs. It's unique and personal to each person. Thanks for the great video Katie. 🎥🎥
@@KevinGrolig There's a lot of gray area between "appealing to the masses and mainstream" at any given moment and "just washing the dishes." Most people can't afford to, and don't WANT to, have to renovate their kitchens every 5-10 years because of "trends." Yes, it's good to avoid things like those glass backsplashes that were so popular a few years ago and look dated now. Subway tile used to be classic, and now I keep hearing it's "over." I am not going to take my beautiful real wood cabinets that were installed in 2011 (yes, they are shaker style) and paint them white. (I hear white kitchens are "over" too). You see my point? Sure, I'll put new pulls on them because the ones I have are kind of beat. But the last renovation of my house (before I bought it) did everything in that oil-rubbed bronze, which is "out" now. Am I going to replace every doorknob and hinge in my house because black is trendy now and then have to do it again to chrome, or something else later? No I am not.
Guessing the decorating taste of any individual buyer is a fool's errand. Of course if you last did your kitchen in 1975 you need to update it. If your kitchen is 1990s "Tuscanesque," yeah, it's going to look dated. Yes, you want to keep things neutral, and you also shouldn't be TOO trendy. But no, I'm not going to paint my real wood cabinets white when tomorrow white will be "dated" and everyone will want wood again.
You know what I WOULD do? I might re-roof if the roof is 10 years old by then. I'd replace the heat pump and water heater. I'd put in new appliances if more than a few years old and I'd paint. I'd power-wash the front walk and driveway and plant some things even though I know they'll die next year. THOSE are the things that if they go, are a big expense for a new buyer.
@@KevinGrolig It's never 4-5 x in return.
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that our generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 54.
Safest approach i feel to go about it is to diversify investments. By spreading investments across different asset classes, like gold, silver, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Melissa Terri Swayne turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
Thanks, I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get.
The people that I know over 60 do not look like they are on their last leg like the ones highlighted in this video. I find the frail and weak pics that are often used to portray older people are off putting. Lots of people are growing older gracefully, look healthy, and are vibrant.
Realtor here. When I started as a brand new agent, I met an agent who'd been doing this for 30 years, was not part of a team, and regularly attended technology and marketing training classes. His clients were not treated as though. They were a number and an assembly line. His years of experience commitment to ongoing training sales, track record and personal hands-on approach Consistently produced amazing successful results for his clients. He was a one man show, with preferred vendors, about 80 years old. I would just advise any potential seller to interview more than one agent and don't work with anybody just because they're well known in the community. Also ask the agent if there is any cost or benefit of improving versus selling as is.
My son was able to buy a house in his budget during the crazy days of 2022 because it showed poorly online. The colours were dark. The carpet was crumpled. Things were outdated. But the roof, windows, hvac had been updated. The day after they bought the carpet was pulled up ( hardwood underneath) and the entire house was painted a light neutral colour. What a difference. Good for my son but the buyer could have done those two things and would have much more interest. As you said, the online photos are the first showing.
Your son done good!
I wish I could send your videos to my neighbor. She just put her home on the market and it is wildly overpriced. The carpet is old, several rooms have wallpaper, the furniture and appliances are probably 15-20 years old and the "art" she has consists of wooden plaques and dried flowers. But she is also extremely emotionally attached to the home. She and her husband rehabbed it from the ground up with the help of her father, friends and neighbors. They raised their children in that home. It is a beautiful home and well maintained but the interior needs updating, and I don't think she understands what younger people are looking for in a home. Great advice you are giving to older people trying to sell homes!
There is a buyer for every home is my motto. Some people do nothing to an older home that needs updating and it sells. Some people can see beyond the decor. Might take a little longer but there are buyers that aren't looking for move in ready. They WANT to rehab it to their own liking.
@@laurie6332 I am all about rehabbing, but her home is priced $60K over the highest comp in our neighborhood. The issue here is price versus rehab that needs to be addressed. If she wants anything near the price she is asking, it's gonna take some work.
I listened to this for a long time and it never did get to the 10 most important things,,,,, on and on and on about how wonderful you are. great. that is not what I clicked on this to hear!
You might want to reconsider your comments regarding older real estate agents. Age discrimination in the workplace is very common, and making generalizations about real estate agents based solely on their age is not appropriate.
She was just telling it like what's going on in "this market". I'm selling a 600k home and just LAST WEEK, interviewed an agent (70ish) that has sold homes in the City I live in for 50 years. I have known of him for 43 of those years, and has been successful, but out of the market for the last 10 of those years. He told me his "target fee was 6%" (selling only). I asked him if he might consider negotiating that, to meet some of the other brokers around. He replied: "If they discount your fee, will they discount the job they do for you? I'm good at what I do - I stand firm on my fees." He, obviously, was totally out of touch with the current times. He would not budge. We went with a top 5% listing agent with the top Brokerage firm around, at 2.25% listing fee. Many times the older real estate agents have rested on their laurels....while making it very well, without "changing anything"; however, buyers are looking for such a different scenario nowadays, and I've found that if agents aren't keeping up, they appear to be "outdated themselves".
Any agent's success is spelled out in the numbers -- but $$ and # of houses sold each year, not birthdays.
I've rented and flipped a few homes in Pittsburgh area for 30 years. Kati is hitting the bullseye on all topics.
No fluff in her videos, straight to point, no B.S.
It’s a real pleasure to listen to such a professional real estate agent as yourself. Outstanding advice.
Before I listed my house, I paid for my own inspection. This gave me the opportunity to address any concerns that might come up later. By the time I listed, I was able to provide a copy of the inspection report (and proof of repairs) to potential buyers. I think it helped alleviate the fear/stress some buyers may feel. Also - make sure your buyer has a pre-approval letter (or cash) in hand before you accept the offer.
Thank you! This is excellent! My husband and I have owned 6 homes in seven years(it’s a hobby of ours to fix houses and resale for profit) we love doing this but you are right it is very stressful. How ever, I want to tell everyone who reads this if they take your advice completely….your home will sale!
Thanks again for such awesome information! 👏👍😃
How touching. You have a good heart. You also share from the heart. I look forward every week to your videos as well as two other realtors.
You are very genuine. I had a great realtor when buying my home. I can tell you would have done a good job for me as well.
Thanks so much! I appreciate you.
The two items we asked for was major electrical and minor roof repairs. I gave heard of stories of ridiculous requests like a knob on a washing machine missing etc.
Hello Kati, I appreciated this video. As a senior hoping to sell next year, this tips will definitely come in handy. I am still getting used to the sticker shock of home prices and realizing even if I get top dollar for my home, the next home will be smaller. Decluttering is a must.
We are finding the next home will cost more than current one, and still be a lot smaller.
@@ladismorgasbord1574 decluttering before listing will make yoir actual move sooo much easier and cheaper although I threw or gave away sooo many things I saved on moving costs and also stree also you may need some new furnishings even if majorly downsizing I did need a few things for my smaller new place also
@@cherylanon5791 Same here. Kind of discouraging, but we need/want to move closer to our daughter. Our next home will cost more and be smaller.
Excellent video and I will confirm what you said about loans to retirees. We purchased a condo a year ago and the bank gave us a very hard time with the mortgage process. We are retired and had more than enough in our investment accounts but without an income, we did not check off their rigid requirement boxes. After jumping through one hoop too many, I asked my husband, "Why are we putting ourselves through this? We have the money to pay cash," and we were done. It was worth it to get the bank nonsense and stress off our backs and also, to save a lot of money on BS fees and interest. No regrets!
I sold my house of 25 years. I had a great agent, Robin Miller of Remax in the Boston area, She gave great advice, which I followed. Got a great price. And I am so much happier in my new place, having shed literal tons of old, no longer needed possessions.
As a buyer, I absolutely hate it when the seller’s agent is there. I want to take my time and get a good feel for the home. If the seller’s agent is present, I just get in and get out as fast as possible.
Yep. Totally
Being a 73 professional we are all busy people and always have been. Spending time on smartphone/computer does not equal busy.
lol! boy, if we want to sell our homes, we have to comply with the status quo - cringe and spend - to sell our homes :(
Thank you.
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Consider reallocating from real estate to other reliable investments like stock, crypto or precious metals . Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice, but it may be wise to invest, as cash isn't ideal in this period.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
Young, trendy buyers can make any house they are lucky enough to buy into their own home themselves. They should be happy to get any house they can afford and then make any changes they want over time or none at all and make do. That's true today and absolutely in the past; this is nothing new.
People now both have to work and have no time to redecorate
@@Ann-sf6od In the late 1970s (in the middle of nearly 10 years of massive, unchecked inflation) as a single mother with minimal child support, I bought an old house (1947), old fuse box and leaky basement included; it did have a new roof. Over 7 years I paid to upgrade the electrical, sand and refinish the carpeted-over oak flooring, and minimally upgrade the kitchen and baths to suit me. I also did tons of work myself, including all the painting, some landscaping, planting, installing shelving, and laying vinyl flooring in the baths, kitchen and entry hall; there was much more. I paid to install storm windows and central air conditioning; it had no AC at all. Later, I had half the basement built out into a bonus room after I had to pay a massive amount to have a trench drain installed to drain the outside source of the leaking.
All while raising a child, working, doing all the yard work and housework and cooking and shopping, and no help from anyone other than just enough for a down-payment to buy the house which was a godsend that most people don't have. I inherited just enough from my grandmother (born in 1890) whom I had taken care of in my tiny apartment until she died, also while trying to work and raise a child. I sold the house after 7 years for double what I paid for it, partly due to inflation. If you really want something you will work to make it happen, one way or another. Do it while you are young because you cannot conceive of how aging will rob you of energy beginning after age thirty which I was when I bought the house. Don't waste it partying and having fun.
Here in Texas, I see so many homes listed that have every room a different color, heavy, old dark furniture, and drapes with swags and animal trophies everywhere. You just can't get the best offers with all that to deal with. Sellers are still attached to their houses and ca'n't get into the mindset of "neutral and depersonalized SELLS!" and the right price, of course.
What part of Texas are you in? I live just outside of Houston and see many houses like you describe sell quickly and for close to asking or above. I even see brand new multi-million dollar houses being decorated like this--and they sell! The "old money" aesthetic is hugely popular here, at least for the more expensive homes. Anything under 350 seems to be more neutral and depersonalized.
Yeah right. I sold my house as is and then I was supposed to fix cement that costs me 2 grand. In the end, I felt like my real estate agent was in cahoots with the buyer's agent and they only cared about their commissions. Another stressor is the mortgage company that send you reems of things to sign. When you are selling and buying at the same time, it can cause a mental breakdown, then you have to coordinate your moving company while the mortgage company keeps changing your closing date.
Very stressful
Same issue and my agent was asking me to consider the buyer’s situation. I had put $25,000 into the house removing carpet and redoing the original 1950s hardwood floors, did get rid of the vinyl type counters and found some inexpensive granite that looked like a marble, the installer sealed it, had new fixtures put in, new vanity in one bath, painted the other. New hardware, medicine cabinet and light. But I was still trying to decide if I wanted to stay in the house but finally decided against due to the traffic noise all day and much of the night. Also painted every room and removed wallpaper. It sold to a young guy who worked all day and probably was busy and out at night so the noise wouldn’t matter and in good area just had a busy street two houses down. It sold rapidly, probably could have gotten more money. I held to the min price even though I had multiple buyers but found out the agent was telling them it was sold. These people came to my door and told me this. I was so mad. But what could I do, it would have cost more to sue her and the company. She told me to do a huge cab repaint that did a terrible job, she said they were great company. She wanted me to spend $3k to have a closet put in a twin room, I staged it that way. She also was like 40 minutes late to open house. She was going to bring refreshments and did. Thank goodness at least I baked cookies which made it smell nice and everyone liked them. Now had I left like she said to do before the time, those people that showed up would have been mad no one there. I really felt like she was working with the buyer and his agent to get them that house. I mean when people come to your door and tell you these things and when. She found this out she really pushed for him. She was also about to run out of the contract and knew I wouldn’t use her again. I should have just told her to do you know what. Do not let an agent bully you into something that doesn’t feel right. Get another agent if you feel they are helping one buyer more.
@@plips71755 100%
WORK WITH YOUR TITLE COMPANY AND SELL YOU HOME YOURSELF! I NEVER PAY AGENTS TO DO SOMETHING I CAN DO! SAVE BIG $$$ BY SELLING YOURSELF! YOUR TITLE COMPANY WILL DO ALL THE PAPERWORK! HAVE THE BUYER PAY ALL CLOSING COSTS TOO!
@xavierminchello8431 Depends on the area and depends on the situation. My sellars are netting usually half a million dollars more through my efforts. But in lower priced areas, i have seen it.Wear the title company might have been a good route for some people. Usually in lower price areas.This might be a good strategy.Definitely not in higher price areas where the marketing can make hundreds of thousands of dollars of difference and or if you're an air in an area that is prone to lawsuits. As long as.
You don't sign through coercion.It's always a good idea to interview multiple agents and see if they can offer any benefit to selling it yourself.You don't know what you're missing out if you have a good agent versus a bad agent or do it yourself unless you interview
I just went through the process to get a bridge loan and I was "pre-qualified." The final approval depends on what exact property I want to buy, but I've done the preparation and I'm ready to go.
I have heard from numerous people that the housing market is so tight that you don't have to do anything and it will sell rapidly and that new homeowners change the paint, carpet, etc. to fit what they want for style.
Excellent info for a 72 year old widow who will be selling in the next few years👍👍
Glad it was helpful!
Excellent video. We sold our house about 5 years ago. We learned the hard way about #9. Only my husband was receiving social security and I had retired. We were quite hard pressed to get a mortgage big enough to carry us until we sold our existing home. I had to sell some investments to satisfy the builder and still have enough cash on hand to cover the down payment. As it turned out I only needed the mortgage for about 5 weeks but it was still very difficult to get the financing. I was lucky 5 years ago because I was able to get a 3% mortgage. Now, at 6 1/2%, financing the new mortgage would be even more challenging.
Yep. This is exactly what I was talking about. Ridiculous
I feel like you were talking directly to me! We’ve been in our home 30+ years and talking about moving closer to our grandkids. So the #10 rule definitely spoke to me, thanks for your terrific advice! 😊
You are very welcome!!
I feel like you are talking to me. Thank-you for this video. I had no idea about today’s buyers. I am going to share this video with my husband.
You are so welcome!
Thank you for the advice and the download.
I wish you could do a talk on rural home sales.
I plan to sell my 2017 home early next spring. Prior to listing, I plan to have my own inspection performed on my property. That way I can address any potential issues, so there should be no surprises.
I am being told by my Listing agent that the Buyer's lender will use their own inspection; therefore I shouldn't spend the money to have one done. Why would I want to get an inspection done? Does anyone have an answer?
@@dlemmon1276 true, the buyer is entitled to obtain their own inspection. However, I don’t like surprises, and if there is anything that needs attention, I prefer to do it on my own time, instead of being rushed. Not to mention, I have the time to select those subcontractors to perform any necessary repairs. If I were looking for a property and saw that someone took the time to have it inspected prior to sale, I would understand that they are very proactive, and serious about their price.
@@dlemmon1276 yes, it is true that the buyer has a prerogative to do their own due diligence during the inspection period. However, I wish to be proactive about any necessary repairs as it will give me time to acquire bids and select my own subcontractors. I have been on the other side of this when you have two weeks to make repairs, and you were at the mercy of whom ever can do it fastest.
Great Video with great ideas, as we are looking to list the house next summer, we decided that in previous house purchases closing simultaneously is to much stress. As we will relocate out of state we are going to sell, then we will rent back where we are going for now to look around and see what area we want. The biggest unknown was this new law about commissions but you have somewhat explained it. Now for real estate agents the town we are next to that has the agents is only 30,000 people so we are doing our homework. So thank you for your videos.
Great video. Love your Empathy, Compassion & Passion! Great info too!
Thank you!
Really appreciate your advise. My roadblocks still have no solution. How do you make the updates if all your money is in the house? (House is paid but no disposable income to update.) Do you just leave money on the table and get whatever you can in AS IS condition? Where do you move to? Saw your video about buying on contingency and it doesn't sound like a good option.
The biggest "deferred maintenance" on my home is something I can't do anything about. It's tree roots under my driveway. And the tree is on my neighbor's property. I've been told by my arborist that jackhammering up the concrete, laying rebar, etc. will involve cutting tree roots, which will likely kill the tree. The neighbors do not want to remove the tree. This is why the people I bought it from didn't redo the driveway. To make matters worse, it's cracked and heaving, largely because when it was poured decades ago, there were no expansion joints done.
Anything on your property can be cut.
@@KatiSpaniak Not if tree roots being cut will kill the tree on the neighbor's property. We aren't talking about branches. We're talking about the roots.
It seems that the flip-side is that you neighbor owes you for the destroyed driveway. But it is possible that the prior owners did get compensated and pocketed the money and the stuck you with the problem.
Only a state-licensed attorney can help. But I'm a Realtor and good neighbor. Any chance the drive could be removed and replaced with stones or pavers with planted ground cover between (checkerboard style) or even just high quality gravel or crushed granite with edging left/right that would contain it? That attorney can guide you about any disclosure needed if you sell. Check you deed restrictions/zoning, too, as to any limits to driveway materials. One more thing!😂 That heaving may be a trip hazard in the eyes of your insurance company, so safety needs to be considered. Good luck!
@@countrysister700 great response!
Great video! My question is, aren’t we still in a sellers market? The video is leaning more towards a buyers market. The area I live in is still in a sellers market. Most homes are only on the market for a week and sellers are getting multiple offers. And I am sure most of the houses have not been updated, prepped and staged.
You’re right, but it depends on where you live.
I sold several homes. Moved a lot. Some homes I did a lot to the homes, some I did nothing due to time constraints or had already moved out of the State. Every home sold in a timely manner even in 2009 when every home in America was up for sale or foreclosed on. No matter what the condition of a home, there is always a buyer out there. Get a presale inspection. Get ahead of those things that need to be taken care before being sold.
I aged 10 years in the 1 year it took to prepare my house for sale, getting rid of my crap, buying another house. Probably the most stressful year of my life. Everything went wrong. If i had it to do over i would have done the cleanup/preparation over a 2 year period. Great vid.
Thanks. So sorry you had to go through it. Super stressful
I laughed when you said that today's buyers know everything because they did their research and then you used the example of Google Earth. If you look up any street view image of my home it is more than 3 years old (the images have a 2021 date on them) and my house doesn't look anything like that now. New siding, different colors, trees removed, all new landscaping. Perhaps these people aren't as smart as they think they are.
google updates their picture of my house about every six months........ so I guess it depends on where you live. I live in Northern California in a hot and trendy real estate market........... all the children and grandchildren of rich bay area types want to buy in my little city because the houses are cheaper than the bay area, but the schools and shopping are fantastic............ so google accommodates by updating the pics.....
If I could give this video more that 1 thumbs up, I would. This is exactly my situation. My house is 60 years old and still has the orange and red shag carpeting with original hardwood underneath. We moved in 30 years ago and did a bunch of stuff then. The mechanicals have been updated but...everything else??? I downloaded your Seller's Playbook and will use that as a guide.
Pull up that carpet and check out the condition of the hardwood floor and maybe polish it up if needed. 👍🏻
My former house had that same carpeting! Have the carpets pulled up. You'll be amazed at how good the floors underneath look. They may just need a good cleaning, not complete refinishing. I had the floors refinished, but I had already moved out. My realtor handled hiring the guys to do these kinds of fixes; I just had to pay their bills.
Pull up the carpet. You can always get a large area rug if the floors aren’t perfect
Remove the carpet ASAP! Even if you don't refinish the floors, just getting them cleaned and having hardwood is a plus.
My property is located in a desirable historic neighborhood.thankfully, most young buyers want an imperfect house because they can’t buy in the neighborhood with perfect conditions. There are very few starter homes and even those are just beyond a first buyer’s reach. Ive already started working on my repair, maintenance and enhance punch list. I’m definitely prepared for the inspection regarding price or term modification. Still hiring a realtor because without one, all my ideas are could be wrong. I need their expertise!
Superb video. We've seen over and over and over and over that family/friends get too attached and lose the reality perspective. Important things to share: 1) The memories are in your heart and scrapbooks/albums and if not, then it never mattered. 2) A house is a PRODUCT. It is a manufactured PRODUCT made of lumber, concrete, wiring, tile, glass. It is NOT a sentient being- let go...
The info you provided is very helpful, especially because my husband and I will probably sell our home within the next 5 years. (Looks as if we have a lot to do in that timeframe!). However, I did not enjoy all the cut-aways to young people walking thru a house, older homeowners looking anxious, homeowners meeting with their realtor, etc. A few of those could be fine, but in my opinion, there were too many of those cut-aways. I don’t need to see those to understand what you’re saying.
Thanks for the comments susan
I’m a new sub. Great advice. Love your energy.
Please correct the following:
Fewer showings. Not less showings.
Showings is plural so it’s fewer not less.
Do you recommend an inspection to find the things that you need to address before putting the home on the market, maybe long before?
Our daughter (36) and husband hate the beautiful woodwork in our house (24 years old). We will be selling in the spring but will not change out or paint the woodwork.
Good choice
Don't stress, there are also a ton of 60+ BUYERS like me, who appreciate Real Wood. I actually can't stand white painted MDF woodwork and cabinets, it just says "cheap" to me.
This new law about sales agent commission is pretty stupid. Buyers don’t have money to pay an agent to show them homes. There are many ways around it.
Thankyou! I will be looking for a home in the next few years and would LOVE to find one with the original unpainted woodwork. I'm sure I'm not the only one.
Once someone paints the woodwork, it's basically gone forever... these kids were raised with everything being disposable. They don't understand quality if it hit them in the head.
We just got a bridge loan, so they are still doing them.
House I grew up was built in mid 60's ,3 bedroom i level ,the whole family used 1 bathroom.. My bath day was Tuesday , with 7 brothers ,sisters .not what new buyers are looking for ..🤠
I'm sure someone will love your home since it won't be as costly!
Same here. My parents home was about 1000 sq ft 3/1 with NINE kids. I laugh when a young couple, on HGTV “don’t have enough space” in a 2500 sq ft home with 2 or 3 kids! HA! 🙄
I grew up with a mom, dad, sister and I and ONE bathroom. We made it through, but was very happy when my sister spent the night with a friend. Kids today don't want anything uncomfortable, the least bit inconvenient, so they grow up with unrealistic expectations - we used to call it being "SPOILED"
My dad designed and built our house in the 1950’s. Somehow he had the foresight to add a half bath. For which we all are eternally grateful. 😊
I would say "Maybe that's why they can't afford homes," but that's not entirely true. The small ranches and capes built in the postwar era (1946-1965) have mostly been torn down or expanded. In the 1970s, the raised ranch/bilevel was popular and today people detest that style. Now, to the extent the single-family homes are being built, they are all either enormous -- at least 2500 square feet and well over a half-million dollars in a LOWER cost area -- or they are tall skinnies, four to a lot, with no yard and shared driveways -- and very little actual living space, never mind the "entertaining" space that the HGTV-influenced buyer wants.
Where I live, it's all about higher density, so SFHs are for only the wealthy, and for everyone else it's 3-story garage-faced ugly "townhouses" or rental-only "Texas donut" apartment buildings.
We have an older home on acreage. We have repaired and upgraded, but it always needs more. Yes, we have clutter! So, it seems like it will be too much stress to sell this one and find another. Doubtless, many potential sellers are in the same position. This pits a huge cobstraint on the housing supply.
They want to show photos to their friends who will say "wow, it's beautiful". Yep, buyers nowadays are shallow and want a house that strokes their shallow little ego.
Next time we ever sell anything we will sell by ourselves because we are tired of realtors only caring about the commission . We have not had very good experiences with them. Fed up!
I sold my home for downsizing in 2021 at age 63 . My Realtor ( also she is a friend of 20plus years) told me I would get about $600K ( or $650k if I was lucky, "as is" , which sounded fine at the time... but... she followed it up with "if you invest about 100K in renovations and improvements, we can list it for$1M. A no brainer, right? I ended up investing $110K , and it sold for $1.18M . Just the difference in that "before/after" completely paid for my new home ( which I love even more) IN FULL including all options that I wanted that the builder offered. I became privy to info Realtors know about buyers perception, and the woman in this video is absolutely correct. I made an EXTRA HOUSE by a $110K investment !
Sure, your house may "sell" as is , but your bottom line is WELL worth the improvements. This woman definitely knows what she's talking about!
Renovating depends on the market, the prices and where you are located.
Not everyone has over a half million dollar home or 110K to spend on making it a million dollar one. Consider yourself lucky.
@@CP-nf9my I live in a hot area so my house is now close to a half-million dollar home. I could put $110K into it and it would still not sell for $1.18 million in my neighborhood.
@@CP-nf9my As you probably know, housing varies for what you get in different locations, for where I live , this isn't uncommon. What one should spend of course depends on the situation and what the best for their particular outcome is. If a house is $3M then maybe they would spend much more than I did, or if $150K house then much less. Mine was simply due to appreciation in the area. I only paid $255K for it, a mid range property at the time.
My point is, some people don't want to follow a Realtor's advice about sprucing up for a better return, to the detriment of their pocket book. Tapping into home equity is a wise route for many if they don't have whatever cash needed on hand, as It produces a more profitable bottom line when house sells. A good Realtor knows what needs done , it's their job to get the homeowner the best bottom line. Wise sellers follow that advice.
@@jillcnc Yup. I live in an approx $400,000 +/- neighborhood. An older neighborhood where one builder built the entire neighborhood "back in the day" in three or four different styles (not cookie cutter houses). One neighbor put a ton of money into selling, and sold it for almost $800,000. I don't know what buyers were thinking because never, ever will they be able to recoup how much they paid for it. The market might be hot now, but the housing markets flip flop all the time. Houses are over priced right now, but they will come down eventually. No matter how long the people who paid $800,000 live in their house, they are still living in a $400,000 neighborhood. They over paid because the sellers put too much money into it to get top dollar, and the buyers bit. It doesn't change that all the other houses in this neighborhood are all assessed at approx the same price. I can't see how they could ever sell that house for $800,000. again, no matter how hot the market is. I do wonder how long it will take them to find that out. It was a win for the seller. Buyers not so much in my opinion.
Thank you so much! This was very informative for this 65-year-old senior. Our problem is we are sitting on a $1m home but have only SSI as income. I don't know what we are going to do.
Glad it was helpful! Join in Monday for our live session and I’ll talk this through
Thank you for all the information I learned a lot.
Glad it was helpful!
I've sold several properties myself as an owner and I'm not much on realtors in general, but that one out of 80 that actually do their jobs (sell in my case) are awesome! I think most do a pretty good job on the buyer's agent side of the fence. I sold some multi-family properties and used a local guy that specializes in that (who's older than dirt) and he was a rock star! While i didn't want to pay what I had to pay him, he did his job as we agreed and actually impressed me! He did it all! And I never gave him an MLS!! He brought the buyers and qualified deals. He actually never worked for me in this arrangement, he was acting as the buyer's agent. I don't get muddled up on that as experience has shown me neither matters that much to me. It's about what you want to happen and when you want it to happen, the rest is the reality that separates the two.....
MANY AGENTS JUST WANT TO SEEL YOUR HOMES ASAP! AND MOVE ON TO THE NEXT!
Thank you ! Now I have change my mind to go with a realtor
If a contract is presented with a buyer's agent fee does it become a counter offer if you change that fee?
Here in NY , don’t need to do any of this to sell a house. It’ll go in a week or less. However, One issue might be the gap money!
VERY helpful. When I sold my home 25 years ago and bought another, I did my own staging, it was successful, pristine everything, including my better homes and garden yard. Now I am older, the house is a lot bigger, and the yard is very difficult to keep up. I tried hiring people for all of it, but getting them to do the work has proven not worth it at their pricing, especially when they don't show up. I am disabled now so I have to move. I don't know how to do this. Would I be better off selling to an investor company? My credit is over 800, but I don't work now. mechanicals, roof, windows, all new, but all but living/dining room and basement need painting. Flooring in the kitchen needs replacing (wood floors everywhere else) and one of the baths could use an update.
(Oops typos) Clean but dated is OK. Just start on one end and work your way across cleaning and decluttering. It will show as a well loved, respected, and cared for house even if it is dated.
@@c.m.303 Thank you! What a relief!
27:42
So I think what you’re saying is the buyer’s agent shows the home. I’ve never personally even realized anyone expected the seller’s agent to be at every showing
It's expensive to have a seller's agent or representative at every showing, so in the sub-million market, the traditional commission isn't high enough to support that level of service. There are advantages to having the seller's agent present, such as turning on all the lights, opening shades, and the like. They can also be sure that at the end of the showing, all the water is off, the lights are off, and the doors and windows are all locked. They can also answer questions that come up, but shouldn't be hovering while the buyer's agent shows the house. The most important thing a seller's agent can say is that the seller is entertaining all offers.
I have explicitly told my parents that I will resent them even after they have passed if they leave my brother and I a bunch of clutter/junk/stuff to deal with. I have slowly been transitioning into a minimalist lifestyle. So having to deal with that would drive me insane.
My FIL left us his "hoarding house". It took a year to sort out, and even longer to fix. I'm not a minimalist, and neither is my husband. If we were, a big dumpster would have streamlined that process. We were just grateful to receive a free, PAID FOR house, worth way more than what we could have afforded! He didn't have to leave it to us. I think if my kids ever said something like that to me I'd figure they didn't need a house that bad.
Your perspective is exactly why, at age 66, I am a minimalist. While there may be other reasons to resent me when I'm gone, clutter won't be one of them. 😆
That is what happened to me. I found one in the same city. The home was that I wanted to purchase. Put 30% down. Was prequalified. Did plumbing electrical instruction and inspection. It off sort of kind of past, but when I did repairs to the work City and County came in and found out that it never should’ve passed so yes, there are untrustworthy realtors out there. Not all just a few.
Such great advice. Thanks so much for your hard work.
You are so welcome!
So we live in a two-story (plus full basement) townhome with 2-car garage and wood-burning fireplace. It was a model home decorated in warm pastels-and still is. Wall-to-wall salmon-pink carpeting which we have loved but which is falling apart after 44 years. The kitchen sheet vinyl is worn through in spots but can’t be replaced without gutting the kitchen back to the studs, because the subfloor is damaged and warped and will need to be replaced (and the cabinets were poor quality and are literally falling apart).
Now my husband (age 77) just lost his job and we are not able to afford a renovation. I love my old furniture and would want to move to a single-family home that would accommodate it. So decluttering is not in the cards.
If I eventually were ready to sell, should I renovate regardless of the hit our retirement fund would take, or sell “as is” and take a lower price? I hate the thought of having to decorate and renovate according to someone else’s taste. I would like to put in hardwood floors and porcelain tile (maybe sheet vinyl in kitchen). I hate the thought of replacing my lovely pastel carpet with neutral carpet.
We own our home so that’s no problem.
We lived in an apartment for nearly 10 years before we bought our townhome and have never sold a home.
The home overlooks a retention pond which is quite lovely but folks with small children might not want.
I’m 69. I keep my home up to date with current styles. You can do a lot of things pretty cheaply. But, this is a good video for this demographic.
Don’t sell your house to as is Companies they will lowball offers Beware
Those companies have a place in the market. If you have to off load quickly due to a divorce or death and don't have thousands of dollars for repairs or staging, sometimes their low ball price is better than trying to get it market ready. Even "as is" companies compete with each other because they all know (and we know) they are just going to polish it up with cheap repairs and paint and flip it. There are situations where someone needs an as is buyer. It's not always about getting the biggest buck.
🎉😅You have to smile about people crabbing about 6 1/2 percent rates. We paid 15 percent in the 1980's.😊
That’s correct! How did we manage! ? 😄
I'm finding it hard to trust any real estate agent. What, exactly did they get sued for? They fix it so THEY win, every time. Not to mention they buy up all the good fixer uppers first before regular people can get to them, then they flip them for big bucks.
their association was sued because they had fixed the commission on real estate at 6% nationwide, paid by seller..... and if you didn't want to pay 6% and negotiated a lower commission, the other realtors shunned your property............ it was considered price fixing............ I personally, think it is utter BS that realtors commissions are a percent of price.... it's not like a realtor does more or less work to sell a $300k house than they do to sell a $900k house..... but the commission they receive is substantially different.......... and what exactly did they do that warrants $18k-$54k in commission? their fee should be a flat rate, period.
@@monicahamm3353 Thank you for clearing that up. All realtors do is put your house on the MLS, put an ad in the paper, & perhaps hold a realtors lunch at your house or an open house. On TV they negotiate & advise clients but in my experience, all they do if present your offer & they probably sell you out by telling them what is your lowest number, how desperate you are, when you have to be out etc., because their personal goal is just to sell it. They don't care if it sells for a few thousand more--it doesn't affect their commission much. Plus, they get you to price it lower than it should be so they will have an easy time selling it. That's the same reason they want you to fix it up & stage it. The seller should not have to pay the commission, they should split it with the buyer.
Excellent content- thanks!
Glad you enjoyed it!
Always a ton of great information in your videos, Kati! Is it helpful to consult a realtor before we redo our bathroom in our 70's home? We want to take out the spa tub and do a floor level shower in our master bath.
Excellent video! Thank you!
Glad you liked it!
I’m not 100% sure, but in NY I don’t think you can sue the home inspector.
I knew a couple of people that had inspectors that missed problems, but had no legal recourse.
Sad.
Depending on the area, painting is not cheap. I had my whole house repainted (for us,not for resale) total cost was north of 25k for a 3 bdrm 2.5 bath house. In part this was due to having cathedral ceilings and lots of built-ins but still I wouldn't call that a cheap upgrade
Yikes
What happens if the buyer/buyer’s agent broke or took something from the house in a none companied showing?
Your agent should reach out. I lifted blinds up one time and they broke. I called the agent to tell her. She said not to worry because they were broken. However I would’ve paid if I needed to
Super good presentation. Thanks for all you do.
I’m building a new home to be ready around April 2nd 2025. When should I contact an agent and when should I put the house on the market?
Potential buyers need to check out noise levels around the homes they are interested in. If it's too much, it's a major reason why sellers sell.
When you refer out, do you get a refferal fee?
I'm not dead yet! I am 75 and I got my 1800 SF home emptied, new flooring installed, painted inside and out, staged inside and out and on the market in a month. We got a cash offer in 2 days, 96% of our listing price, and our agent encouraged us to reject it. Then we got an offer on the 5th day, full price, and our agent convinced us the buyer was rock-solid. We signed, then 6 weeks later the buyer backed out right before closing. Back on the market 2 1/2 weeks now with no offers. The market has just turned south in our area, so we are lowering the price (against our agent's advice) $50K. I am thinking we don't have the right agent. He is the next-door neighbor and we don't want him to lose face in his own neighborhood.
Your buyer was that cash offer which he advised you to reject. I would say you already know the answer to the question of whether he is the "right agent." Sorry that happened, that's a real bummer.
Do you provide staging as an agent? pay for appraisal before assisting the seller?
I had a terrible experience trying to sell my home in August. There was a lot of bullying and lying on the buyers agents end and a lot of neglectful indifference on my agents part. I ended up not signing at closing, (the buyer missed his deadlines), and I’m ok to hang onto the house since I have 3% on my mortgage. I am considering writing up a complaint to my state’s Real Estate division. I’m so angry by the disrespectful and condescending way I was treated that I just can’t let it go. I already am $1000 out of pocket to have a lawyer draw up a mutual release form I was so distrustful of the agents and would not sign a cookie cutter, boiler plate mutual release sent by the agents. Is there anyway that a complaint sent to the MREC can come back to bite me after the fact?
When updating your home- should you leave built-ins ( bookshelves) in or remove them? I have a home from the 1950’s and it also has a built in corner cupboard in the dining room. I use it but when I redo the dining room I don’t know if I should take it out. Any advice?
Are you moving? If you like them keep them. Or join our Facebook group and ask the group!
in this case, show the buyers how the space can be used. after all, you've found it useful.
Excellent!!!!! Thanks 🙂
Some very sound advice here but have to disagree on pleasing the young buyers market. It's not my task to present
an HGTV looking house. The buyers can enjoy doing that for themselves. That's called sweat equity, and we're all busy, and all have the same time to accomplish whatever. Saying these buyers are "so busy today" is ridiculous. If you don't like it don't buy it. Others will put in their time and effort to make their vision a reality.
how do we know that the real estate agent you refer from out of state have the same convictions you do?
Well. We look for similarities. And I can tell in their communications with us. But ultimately it’s your gut that will be the deciding factor. We present three solid agents and you decide the personality you want to work with.
What does this video have to do with seniors?
New buyers can be picky with what they want and the neighborhood they want SURE. People in hell want ice water. BTW I wanted those things too 20-30 years ago. You deal with what's available and make it your own,
Amazing video!
Curious: WHAT IF we turned our home into a "Rental" for 6 months to a Year so that we could e.g. replace A/C, stabilize foundation, raise driveway, or etc which could reduce the cost of Some of those expenses via tax savings?
This is a big deal in my opinion. Renters can be difficult and they don’t care for your property the same as you. Better off consider a well priced property than suffer with renters.