Thomas Murphy - Pine Shores Real Estate



Posted by Thomas Murphy on 1/26/2014

Is your house a listing loser? Have you been on and off the market for years? There are many factors that influence whether a house sells or not. While most people will point directly to price, that may not be the only reason why a home sits on the multiple listing service without showings or offers and ends up on the expired list. Here are just a few of the reasons why homes don't sell: 1. Price The most common reason and usually the biggest factor is price.  Often a home is priced too high because sellers have unrealistic ideas about what their home is worth. Other sellers insist on basing the price of their home on their own personal financial situation and not the market. Even if a seller is willing to adjust the price of a home after listing it too high, it is the original asking price that matters. Pricing a home competitively will ultimately yield a higher sale price. 2. Location, location, location It is true location matters. Even the nicest house cannot always overcome a bad location. Homes that are on busy roads, close to high tension wires, power plants, waste-treatment facilities or other objectionable locations will struggle to sell. The only way properties in undesirable locations sell is when the seller understands that the asking price is significantly lower than similar homes in prime locations. 3. Having the nicest home in the neighborhood It may feel good to have the largest or nicest home in the neighborhood but buyers won't appreciate that. Buyers are not only paying for the home but also what is around it. If your home offers much more than other homes in your neighborhood you will have a tough sale. 4. The decor A home should appeal to almost everyone. So if your home has loud wallpaper, brightly colored walls, or an outdated kitchen it will be a turn-off. Most buyers won't be able to look beyond the 1970s kitchen and see the good qualities a home has to offer. 5. A dysfunctional floor plan The addition you added on may be your pride and joy but when the buyer looks at it they see it as a barrier to a sale. Many homeowners add additions or change the floor plan of their home to suit them. They were not thinking that it might not be okay for a future buyer to walk though a bedroom to get to the family room addition. This sometimes applies to older homes as well, smaller rooms and lack of storage does not top a buyer's wish lists. 6. Too many repairs If the home needs a lot of repairs, the buyer sees a money pit. Today's buyer is much more reluctant to take on a lot of renovations. 7. Bad Marketing This can be the agent's fault as much as the seller's fault. Are there agents who could do a better job marketing a home? Of course there is. Often times, the agent is limited by the seller's willingness to help. Agents that are forced to show photos of messy, outdated homes on MLS are not starting off on the best foot. There is only a small percentage of buyers who are able to see past the mess and cosmetic issues. 8. Unavailability Sellers sometimes do not make their home available for showings and this can hurt the sale of the home. Buyers have tight schedules and often want to view homes at inconvenient times. Sellers must try to accommodate as many showings as possible. You never know who the buyer will be or when they will want to look at the home.





Posted by Thomas Murphy on 11/24/2013

If foreclosure is looming you may feel helpless. It is possible to still sell your home and avoid foreclosure. You must sell it quickly and that is not always easy. Here are some tips to get aggressive, and get your home sold fast. Price it right! Don't try to squeak out the extra dollar price the home aggressively among the competition. This often means pricing the house low. You are trying to sell the home as fast as possible so every last dollar isn't worth it at this point. Make sure to get real about what your home is worth. A Comparative Market Analysis (CMA) will outline properties similar to yours that have that recently sold, are pending and are currently on the market. Some experts suggest going 10% below that last sold price in your neighborhood. Communicate with your lender. You will need to get the go ahead from your lender on how low you can go. If you owe more than your home is worth complete a short sale application with your lender. Ask your lender to give you some indication of how low a sale price they will accept. Selling your home quickly and avoiding the black mark of foreclosure on your credit report is the goal. It may be hard to accept thousands less than what you paid for your home but you will be better off in the long run.





Posted by Thomas Murphy on 6/9/2013

Kitchens are often the hub of the home and when it comes time to put your home on the market it is often said that kitchens and baths sell homes. A kitchen remodel can be expensive and time consuming. There are things you can do to give your kitchen a new look without spending a lot of money or time. Here are some inexpensive tips to get your kitchen in tip top shape in no time. -Upgrade your appliances Updating or upgrading your appliances will give your kitchen a fresh new look. You can start by ordering new doors or face panels from the manufacturer. If new appliances are in order you can find great deals at at discount stores. Many stores have scratch and dent appliances that may only have a small imperfection on the back of the appliance or in a place where no one would see it. This is a great way to save lots of money for more expensive appliances. -Pretty it up with paint New paint makes everything look clean and bright again. Choose a semigloss latex paint, which is easier to clean and holds up better in kitchens. Don't forget to paint the trim too. Clean and wash all the walls and trim before painting. This will ensure the paint adheres to the surfaces properly. -Get organized Even if you have the newest cabinets and appliances a messy kitchen is never attractive. Keep clutter at bay with drawer organizer for utensils, pot racks and pull out trays for cabinets. If you need more room in your kitchen, utilize empty walls. Add open shelves with some neatly placed bowls for a great decorative and storage alternative -Use the right lighting Replace flood lights with a brighter and cleaner looking halogen bulbs. Install under cabinet lighting for a new look. Use decorative lights over the kitchen table or island to set the mood. Older chandeliers can get an easy upgrade by placing small shades over the bulbs. -Refurbish the cabinets If your cabinets need a new look consider either refinishing them or giving them a lot of elbow grease. Cabinets easily build up with grease and dust. Use a cleaner with orange oil to get rid of the grime. Test a spot first before cleaning the whole kitchen. If the cabinets are worn, consider refinishing or repainting the doors and frames. Adding new drawer pulls, hinges and handles can also make a big impact. -Fix the floor An affordable way to have a do it yourself new floor is to install vinyl tiles. Vinyl flooring is easy to clean and durable. At less than $2 per square foot, you can put a vinyl floor in just about any kitchen for $500. Don't be afraid to spend a little money to achieve big results. Most minor kitchen renovations will recoup at least 83% of the cost and may even add value to your home.





Posted by Thomas Murphy on 4/21/2013

Are you looking to hire a real estate agent to sell your home? Here are some must ask questions of real estate agents before you sign on the dotted line. 1. Do you work full or part-time as a real estate agent? 2. How many homes have you sold in my area and what was the price range? 3. What is your average days on the market until a house goes under agreement? 4. How many sellers are you currently representing? 5. At what price do you think my house will sell in the current market? And why? 6. What is your advertising and marketing plan for my house? 7. Can I see a sample of your marketing? 8. What kind of communication schedule can I expect from you? 9. How long have you been a real estate agent and how much education have you received? Do you have any special designations? 10. Is your real estate license in good standing and have you ever been subject to a client complaint? 11. Why should I hire you over your competition? 12. Do you have a website? What kind of online presence do you have? Lastly, don't forget to ask for testimonials or references.





Posted by Thomas Murphy on 4/14/2013

You are about to make a big decision; putting your home up for sale but there are some very important things you need to do before the sign goes in the yard and you open your doors to potential buyers. Getting these things checked off the list will help get you to a quicker and more profitable sale. Here are some tips to get you started: 1. Sit down with your real estate professional. Come up with a game plan and set a realistic asking price. Make decisions about marketing and showing availability. Pre-scheduling meetings or times to catch up with your agent will help keep the lines of communication open. 2. Get your paperwork in order. Prepare a list of repairs, upgrades that have been done to your home. Assemble all maintenance records, warranty information and user guides for appliances in the home. If you do not have them many are available on the internet. It will show potential home buyers you care about your home. 3. Clean your home top to bottom. Wash the walls, shampoo the rugs, touch up the paint and get every cobweb from the corners. Remember your home will be looked at very closely and the last thing you want is a buyer to be turned off by a little dirt. 4. Organize and declutter everywhere. You have probably acquired quite a bit of stuff. Go through every closet, cabinet, and start clearing out. You may want to have a yard sale or donate unwanted items to charity. For the things that you must keep consider a storage unit. 5. Get a home inspection. Have a pre-sale inspection of your home. This will prevent any surprises and help you identify any problem areas in your home. Repairs can affect the ultimate sale price of your home. For problem areas, make repairs or get estimates. This will help you determine what the ultimate sale price or items you may need to be prepared to negotiate on. 6. Stage the home to sell. Hire a professional stager to dress your home for sale. You will want to stage the home inside and out. Research shows that staged homes typically sell for more money. Congratulations you are well on your way to a successful sale.