464 Venito Dr., Biloxi, MS 39531
There are five common mistakes sellers make when listing their home that you need to avoid if you want to sell quickly and for top dollar.
Here are the five most common mistakes sellers make when listing their home:
1. Having the wrong pricing strategy. Basically, there are three pricing strategies you can follow when listing your home: pricing it above market value, at market value, or below market value.
Most sellers are inclined to price their home above market value, with the idea that they can leave room to negotiate downward. The problem with this strategy, though, is that it doesn’t generate buyer interest. Your home will just sit on the market for a long time, and you’ll eventually have to start making price reductions. On the other end, buyers will notice that your home has been on the market a long time and wonder what’s wrong with it, which will lead to them making lowball offers. After all is said and done, you typically end up selling below market value.
If you price your home at market value, you’ll generate some buyer interest and maybe even receive an offer or two, but you’ll still probably have your home on the market longer than you’d like and sell it below asking price.
The best strategy is to price your home below market value. In our low-inventory market, this is what gets buyers excited, and it can cause a bidding war to erupt over your home. Not only will you be able to choose between a variety of great offers, but your home will be off the market quickly.
We know how to market it properly and protect your best interests once you receive an offer and it’s time to negotiate.
2. Not hiring a real estate professional. A lot of sellers think that selling a home is as simple as listing it on the MLS and sticking a “For Sale” sign in the front yard, but that’s not the case. Make sure you hire an agent to help sell your home. We know how to market it properly and protect your best interests once you receive an offer and it’s time to negotiate.
3. Making unnecessary improvements. I see a lot of sellers make home improvements they don’t need to make and spend money they don’t need to spend before listing. For certain home improvements, you’ll only end up losing money by investing in them. If you want to upgrade your home before putting it on the market, consult with a real estate professional. Doing so will save you a lot of time and energy.
4. Not getting a pre-inspection. A lot of times, I’ll see a home go under contract only for the buyer to get scared off by a home inspection report with a laundry list of repairs that need to be done. In this situation, after that buyer walks away, the seller has to put their home back on the market and risk getting a lower offer from the next buyer. To avoid this, get an inspection done before listing your home. That way, once you do get an acceptable offer, you don’t have to worry about losing it because of the home inspection.
5. Not being flexible for home showings. Make sure your home is as available as possible for buyers to see. Allow your agent to put a lockbox on the front door so they can come and go as they please. The quicker your home is available to be shown, the better. Some sellers prefer to have a 24-hour notice for all showings, but if you do this, you might lose out on the perfect buyer due to their own time constraints. To help yourself be more flexible, keep your home show-ready at all times.
If you have any questions about this topic or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d love to help you.
Here are a few handy tips to enhance your Mardi Gras experience.
Today’s topic is a bit of a change of pace: I’ll be setting real estate aside and talking about Mardi Gras. ‘Tis the season, after all!
First, a little bit about the events and dates surrounding Mardi Gras: It kicks off on January 6 with what is known as “The Twelfth Night,” officially ending on “Fat Tuesday,” and bumping up against Ash Wednesday—which then leads to the 40 days of Lent.
If you’re not familiar with Mardi Gras’s origins, it may come as a surprise to you that New Orleans is not its birthplace. The first recorded Mardi Gras celebration was held by our eastern neighbors in Mobile, Alabama in 1703, long before New Orleans was established. It wasn’t until the 1800s that New Orleans began having parades of their own.
Today we have over 20 Mardi Gras parades held up and down the Gulf Coast and as many as 500,000 people are expected to take part each year.
Our carnival association here on the Gulf Coast joined in the celebration in 1908 and held their first parade. Today we have over 20 parades held up and down the Gulf Coast and as many as 500,000 people are expected to take part each year.
But there’s more to Mardi Gras than just the parades: Social groups, known as “Krewes” put on parties and balls and are a fixture of the celebratory atmosphere.
If you’re a new resident of the area and you’re unfamiliar with Mardi Gras and all it has to offer, be sure to plan for a day parade and a night parade. My last piece of advice for newcomers: Make trying a king cake one of your highest priorities. They’re delicious and scarcely available outside of Mardi Gras season.
I hope to see you out there!
And if you or someone you know is in the market to buy, sell, or invest in real estate, don’t hesitate to give me a call or send me an email. I’d love to sit down and talk with you!
Transitioning from one home to the next isn’t one-size-fits-all. Sellers can decide which option is most tailored to their specific circumstances. Here are the three options.
There are three ways in which a seller can transition from their current home to a newly purchased home.
1. Buy a new home, move into the home, and sell your former home. For some, the biggest disincentive to doing this is the financial struggle. Not everyone has the financial means to purchase a home before putting their current home on the market and risk having to pay two mortgages in the meantime. This does tend to be the easiest option, though, because it means you, as the seller, can have a stress-free experience relocating your possessions to the new home and not have to worry about it when it comes time to list.
2. Sell the home and move into temporary housing. This is a popular way of transitioning. Here, sellers get their home sold and move into a short-term living space while in search of their next home—this could be an apartment, a relative, neighbor, or friend’s residence, etc. This gives the now-buyer more time to shop around and find a new home without a lot of stress. The downside? The two moves between the shorter-term housing and then later into the new home probably won’t be your favorite part about this option.
Be sure that you have a contract on your home: Sellers tend to be more skeptical of contingency offers without a contract on the buyer’s home.
3. Use a contingency option. In other words, we’d place your current home on the market and begin to shop for your future home all at the same time. In the event that we find a new home that’s in line with your needs before the sale of your home, the offer we write would stipulate that it’s contingent upon you selling your home. Be sure that you have a contract on your home: Sellers tend to be more skeptical of contingency offers without a contract on the buyer’s home. Seller contingencies are an option as well. If you receive an offer on your home first, you can make your agreement to sell contingent upon you finding a new home.
If you have any questions about what I covered today or you're curious about which of the three methods might be most tailored to your needs, I’d be happy to sit down and discuss it with you.
For help with any and all of your real estate needs or if there’s a topic you’d like to see covered in future videos, please give me a call or shoot me an email today!
What’s on the horizon for our local real estate market in 2019? We’ll explore this question in today’s market update.
Now that we’ve entered yet another new year, it’s time to reflect on current market conditions and, also, review a few predictions for what lies ahead.
First off, are we in a buyer’s market or a seller’s one? Well, given that we’ve currently got about 3.1 months’ worth of available inventory in Ocean Springs and approximately four months’ worth across the surrounding area, our market still technically favors sellers.
Technicality aside, current conditions don’t necessarily reflect those of a true seller’s market. Sellers are frequently making concessions in order to incentivize buyers, so, in other words, people on both sides of today’s transactions have a good deal of leverage.
Our 2019 market will present a largely equal playing field for buyers and sellers.
Moving on, it’s also important to consider the impact of interest rates. Rates are now solidly in the 5% range and don’t appear as though they’ll drop any time soon. This will impact affordability, especially in lower price ranges, but is unlikely to slow down our market, overall.
In fact, a recent study by CoreLogic found that Mississippi’s projected appreciation rate for 2019 is 4.6%. This is a far better rate than we’ve observed for the past few years and definitely indicates a strong market on the horizon.
The bottom line of this update is that our 2019 market will present a largely equal playing field for buyers and sellers.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.
There are a few different things that we want to talk to you about today. Stay tuned for a some exciting announcements.
As you may recall, back in July, I made the decision that it was time for my team to go independent. Today we’re proud to announce Expect Realty. I’ve chosen this name to reflect our No. 1 core value, which is to exceed expectations in everything we do. I thought this was a great way to remind everyone of what we do and what our mission is.
In addition to this exciting announcement, I also wanted to remind you of our upcoming Thanksgiving pie event. We’ve done this for the past few years, but we’d love for you to come pick up a giant apple or pumpkin pie and catch up with us.
If you haven’t received your postcard yet, reach out to us today.
You should have already received a postcard in the mail about the event, but if you haven’t heard about the event or reserved your pie yet, don’t hesitate to give us a call in order to RSVP.
In the meantime, if you or anyone you know is in the market to buy, sell, or invest in real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.