Thomas Murphy - Pine Shores Real Estate



Posted by Thomas Murphy on 11/22/2015

What do buyers want in a home? Is it location? Is it size? Could it be an endless list of amenities ? According to a survey done by The National Association of Homebuilders, they want all of the above. According to the survey, buyers say they want a home that is approximately 2,000 square feet. Unfortunately, only one-third of the current homes on the market have 2,000 or more square feet of livable space. Most homes are nearly 40 years old and don't have many of the amenities buyers want. So what is a seller to do? If your home is smaller than what most buyers want, play up on your homes good points. Here are some other features buyers want that could help overcome the objection to the homes smaller square footage. Location: Buyers may consider a smaller home if it's located in the best school district or in a great commuter location. Possibilities: A smaller home may have potential for expansion, making the home suddenly more appealing. Great space: The home may not have the square footage buyers want, so show off the space it does have. Remove any furniture that doesn't complement the home, making the home seem spacious and uncluttered. If your home is smaller than what many buyers want, emphasize the amenities that it does have. Help buyers see the potential in your home. Don't let them rule it out just because its current condition doesn't meet all of their needs.    





Posted by Thomas Murphy on 11/15/2015

Did you know that staging your home to sell will get your more money and sell your home in less time? If you are considering selling your home you may want to hire a professional trained in home staging to get your home in tip top shape before hitting the market. You could also implement some of the tips from the pros to transform your house into every buyer’s dream. Here is how to get your home in ready-to-sell condition: 1. Clear out the clutter Show off your home to the would-be buyers not your stuff. Clear out your clutter by reducing knickknacks, decluttering bookshelves, and removing personal items including photos from your home. 2. Let in the light Let the natural light in by opening the shades and pulling back the curtains. During a showing, turn on all the lights inside and outside of the home. Don't forget to turn on the lamps, the soft light can be very inviting. 3. Use neutrals Paint your walls in neutral shades, it will make the space will feel bigger. You can add pops of color with artwork, area rugs and linens. 4. Stage a setting Stage rooms in your home to appeal to buyers. If you have a formal dining area set your table for a dinner party.Take your master bath and turn it into a spa-like retreat with fresh towels, jars of pretty bath salts and unscented candles. 5. Stop the smell Don't try to cover up odors with fancy sprays or candles. Neutralize odors by opening the windows and letting fresh air into your home. Try sprinkling baking soda in the bottom of trash cans and place a box of it in the fridge to absorb unpleasant odors. 6. Clean thoroughly You may think your home is clean but look at it from a buyer's point of view. Clear out the fridge, dust the light fixtures and scrub the grout. Would-be buyers will be going through every square foot of your home. 7. Show off your space Make the rooms feel more spacious by removing a few pieces of furniture. Put pieces that are rarely used in storage, then rearrange what’s left to maximize each room’s space. 8. Don't forget the outside Start with the house number, make sure it is clean, straight and easy to read. Go for simple, clean and easy to maintain landscaping. Prospective buyers will also be interested in the garage and shed so don't forget to clean those too.





Posted by Thomas Murphy on 9/20/2015

It is common question that real estate professional get; what is my home worth? Unfortunately, it is a question that does not have an exact answer. There are ways to determine about what your home is worth. You may find online estimates that say one thing but is that a true test of what the market will bear? So, how can you really determine what your property is worth? 1. Consider Solds-Look at other comparable homes in your area that have recently sold. This will give you a good idea what buyers are willing to pay. 2. Consider Under Agreements/Pendings-Although it is difficult to tell what a home has sold for before it closes you may be able to tell the demand in a price range. Look at the asking price of the home and how long it was on the market. If you see a trend of homes going under agreement quickly you may assume they are going closer to the asking price. 3. Consider Active Listings-Real estate is about competition just like any other commodity. It is important that your home be competitively positioned against other comparable listings. The asking price is a part of the marketing plan of the home. 4. Online Values-Be wary of online estimates. The very definition "online" takes the human factor out of determining the value.  A computer program cannot take into account the nuances of location, home style and home condition. 5. Sell It-The only way to know a home's true market value is to sell it. At the end of the day a home is only worth what a buyer is willing to pay.  





Posted by Thomas Murphy on 9/13/2015

Rates are low, prices are right, and now is a perfect time to think about investing in real estate. Many would-be investors think real estate is a way to quick riches. Rapid monetary returns are usually not the case. However, the rewards can be substantial if you are willing be patient, do the necessary homework, and make a few good decisions along the way. Before you start investing in real estate, here are a few things to consider: • Start small: Don't go large on your first investment. Take on a smaller investment first so you have the opportunity to make some mistakes that won't cost you large amounts of money. Investing is a learning process. • Don't overpay: Do your research on your potential investment. Do full a full property evaluation; research the location, have a home inspection, and look into any liens and owed taxes. Always conduct an in-depth property analysis before negotiating any terms. • Consider the margins: Paying the bills on an investment property is different than paying for your personal residence.  When you buy an income property to rent, you're calculating how the income (rent payments) will help pay the mortgage and operating costs. • Know your partners: Having a bad partner could be your biggest downfall. Try to team up with a more seasoned real estate investor to learn the ropes. It is also important to be comfortable with your partner. Like all other businesses, real estate investing, requires a well thought out plan if you want to succeed. Weigh all the risks involved in real estate investing and develop a plan on how you will manage and overcome them before you get started.  





Posted by Thomas Murphy on 8/23/2015

Trying to buy and sell a home at the same time can be tough. Sometimes these buyers and sellers are referred to as being in a sandwich because they are in the middle. The reason this can be difficult is because there is no guarantee that your new home will close at the same time as your old home. Selling and buying a home at the same time is possible but you will need help. Here are a few tips on how to get into your home while closing on your own home: 1. Hire a real estate professional. This is almost an impossible task without having a seasoned professional by your side. There are lots of details that go into selling and buying and an experienced real estate professional will know just what to do to get you to both closing tables. 2. Sell first, and then buy. This is probably the easiest and safest plan. List your home for sale and secure a buyer. You can either close on your home before purchasing another one, or ask the buyer for a contingency to allow you time to find a new home before closing on the previous one. There are many advantages to selling first, it allows you to know how much you can spend on a new home, and you don’t have to worry about temporary financing. 3. Try to schedule the closing date on the purchase of your new home on the same day, but after the closing on the home you are selling. This way, you can stay in your present home until you move into your new one. Bottom line, when it comes to selling and buying a home use the expertise of your real estate professional. Your plans may change depending on your circumstances and your local market.