Should I Make Repairs Before Listing My Home?
Recently, a lot of sellers have been asking me, “Should I make repairs before listing my home?” The short answer is yes. While we’re still in a seller’s market, the truth is that there aren’t as many buyers as there were during the peak a few years ago. The good news is that buyers still looking to purchase a home in this environment are very serious about moving. However, due to higher interest rates and home prices, your property needs to be in great condition to stand out. That’s why today, I’m sharing three things you can do to get your home in perfect market condition before selling: 1. Have a pre-listing meeting. Meet with your agent before you list to go over which repairs are really worth it. Not every fix is worth your hard-earned money, so invest in repairs that will improve your home’s condition and net you a higher return on your investment. It might be worth it to pay for a pre-inspection before you list. This way, you can find exactly what might turn buyers away and fix it before you hit the open market.“Home inspections are often nerve-wracking for sellers, but they don’t have to be if you do repairs before listing.” 2. Choose between cosmetic and high-maintenance repairs. Most repairs fall into one of two categories: cosmetic repairs and high-maintenance repairs. Cosmetic repairs are usually optional and won’t be a sticking point in negotiations. However, they can net you a higher return on your investment. High-maintenance repairs take longer and require a larger investment, but they often fix major issues that need to be addressed if you want good offers from buyers. 3. Proper repairs expand your buyer pool. The condition of your home is the most important factor you can control when selling because it expands your buyer pool. In today’s market, there are fewer buyers due to interest rates and higher home prices; however, you can still attract a lot of demand with a property in good condition. If you do the proper repairs, you’ll have more offers coming in from better-qualified buyers. Work closely with your agent to create a strong marketing strategy, and you might even create a bidding war and naturally drive up your price. I always recommend sellers do repairs before listing, but it’s more important in this market than it ever has been before. If you’re wondering which repairs are worth doing or want to discuss a pre-listing strategy, just give me a call or send me an email. I’d love to hear from you! Want to work with me? Here are some ways to get involved. The place where you can trust my experience and expertise to get the answers you need. Book a Free Phone Consultation Looking for a Home in Denver? Search the entire MLS for your Denver home.Search the MLS Subscribe now to get my latest insights and tips to sell or buy a house. Latest Housing Market Insights
Should I Pre-Inspect My House Before Selling?
One of the most common questions I receive lately is, “Why are so many homes falling out of contract in our market?”. The reality is that the current market environment presents more challenges, and we’re witnessing a higher fallout rate of contracts. Approximately 35% of properties that go under contract are being terminated and returned to the market as active listings. For perspective, the fallout rate from 2013 to 2019 was around 15%, and during the pandemic years of 2020 to mid-2022, it was just 9-10%. One of the most common reasons is at the inspection stage, where buyers and sellers can’t agree on repairs, or buyers decide they don’t want to take on the project themselves. Sellers would benefit from a pre-inspection to identify and correct major issues before listing, which could prevent this sticking point. That being said, you can still sell quickly in this market; you just need to put in a little work. That’s why I always recommend my sellers do a pre-listing inspection if they want to spend as little time on market as possible. Here are three key benefits of pre-inspecting your home: 1. You can hit the market with a clean product. The bottom line is that homes in better condition sell faster and for more money. Think about your pre-inspection like certifying a used car. Certified cars are a more desirable product, so people will be willing to pay more money faster. On the other hand, buyers will try to draw things out and get every opportunity in negotiations if your house is an unknown quantity. “If you take care of issues upfront, buyers won’t ask for concessions at closing.” 2. You can fix major issues before hitting the market. A pre-inspection will help you find any “dealbreakers” you need to take care of ahead of time, which will protect your sale. 3. Pre-inspections give you leverage at negotiations. When you have a better product, you can ask for more concessions. Whether you want a quick sale, more money, or better terms, you need leverage to get what you want. One of the worst things that can happen during negotiations is for your buyer to use repairs as a negotiating point. By addressing issues upfront and creating more demand for your home, you can go into negotiations with a stronger position and get what you really want. Hopefully, you understand why pre-inspections are so important. If you want to sit down for a pre-listing consultation, just call or email me. It’s 100% free, and there’s no obligation to hire with me if things don’t work out or you change your mind about selling. I look forward to hearing from you!
The M.O.R.E. Podcast
The M.O.R.E. Podcast Laura Melquist & Shantell Quintanar are local Realtors, coaches, entrepreneurs and "The Mother's of Real Estate". Their podcast focuses on anyone who is looking to grow in Real Estate, Entrepreneurship, Philanthropy, Wealth Building, Relationships and Family. We invite you to listen and join our tribe of amazing individuals in our local community! Episode 1, “Meet the M.O.R.E.”, OUT NOW!YoutubeApple PodcastsSpotifyFollow on Instagram Watch the Video **New episodes out every Monday at 7:00AM MDT** Throughout the season there will be many special guests, including non-profit organizations, successful entrepreneurs, our preferred vendors and those making a positive impact in our community! Please see below for a Sneak Peek of a few of our upcoming "Special Guests" this season. Upcoming Special Guests include: Lauren Varner; Partner of Varner Faddis Elite Legal Dave Umphress; Owner of the Flourish Network Scott Stephenson; Veteran Lauren Klayton & Angela Layman; Clarity For Your Chaos Toby Archuleta; Owner of Caliber One ConcreteAlexsandra Griego; Owner of Get Your Beauty On Know someone impacting the community in a positive way? Call us! We would love to connect and see if they may be a potential fit as a special guest on our podcast!
3 Reasons Your Home Might Not Be Selling
Are you struggling to sell your home this summer? As we transition from the spring to the summer housing market, inventory is increasing in our area. More people need to sell, so if you expect your house to fly off the market like it’s April, you might be in for a rude awakening. The good news is that you don’t have to settle for a drawn-out home sale. By taking the right steps, you can still receive top dollar and sell quickly in this market. Here are three things you can do if your home isn’t selling: 1. Make sure your price is right. Since more homes hit the market during the summer months, the market rate for your house might be changing. Double-check comparable properties, especially those that have hit the market recently, to see if you need to make an adjustment on price. Your real estate agent can also run a comprehensive market analysis, which will give you a more complete picture of where your home stands in the current market. 2. Address condition and accessibility. The two biggest issues buyers have with homes in this market are condition and accessibility. Right now, buyers want to put as much money down as possible so they can lower their monthly payments. This means they don’t have a ton of money for repairs, so make sure you’ve addressed major issues before getting to negotiations. Next, make sure your house is as available as possible for showings. The more showings you have, the more offers you’ll receive, and the better deal you’ll ultimately get. 3. Reexamine your marketing strategy. Depending on your real estate agent, your marketing strategy might be out of date. We are no longer in the red-hot pandemic market, and you need a more aggressive strategy to be successful. If your agent isn’t doing effective follow-up with buyers, advertising your property online, or guiding you through the market, it might be time to find another Realtor. If your home is struggling to sell, please call or email me for a copy of my marketing plan. I can also run a comparative analysis on your house to check if it is priced correctly for your market. I look forward to hearing from you! Want to work with me? Here are some ways to get involved. The place where you can trust my experience and expertise to get the answers you need. Book a Free Phone Consultation Looking for a Home in Denver? Search the entire MLS for your Denver home.Search the MLS Subscribe now to get my latest insights and tips to sell or buy a house. Latest Housing Market Insights
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