Ask the Realtor: David Garves (Sponsored)
Feb 10, 2016 09:58AM
By David Garves, Broker/Realtor with TheMLSonline.com
Broker/Realtor David Garves
“Ask the Realtor” is a monthly segment and sponsored by Broker/Realtor David Garves (dgarves@TheMLSonline.com)
thinking of selling my home. What is the most important thing I need to know?
A: As a realtor, I'm obligated to say "the number to a good realtor.” Assuming you already have that, I'd say price and costs associated with selling your home. Every seller has a unique purpose for selling their home. For some it's downsizing. While others need more space, for others it's a job change or life change that creates the need to sell. For most though, finding out the net proceeds from a home sale is where they need to start. This is different than knowing a home value or what the home will sell for in the current market.
Looking at the sales price and then factoring in costs of sale (paying off mortgage, realtor commissions, taxes, seller requested closing costs... ) would be among the first and most important things to consider to see if your bottom line meets your purpose for selling.
BOTTOM LINE - The bottom line
is the most important thing you need to know, in most cases, to assure your
purposes of selling will be accomplished.
Q: How does being near a school impact the value of my home?
A: In most cases, being near a school will not impact value the way that size, type, home improvements, and other factors may. Also, there is no price adjustment on a lender appraisal for location near a school to impact appraised value. It could however, make the home more sellable and allow the home to sell near the top of the price range and more quickly.
Most homes have many great selling points and it's up to the realtor to market these to potential buyers. While the fist waving, gray haired, "hey kids, get off my lawn!" yelling old man may NOT value a home located near a school, a young family who is active in the community and active with their kids will absolutely find this location desirable. For homes near a school, it's important that the realtor listing the home knows how to use technology, marketing, and his network to reach people who would value the homes selling points.
BOTTOM LINE - While there will
not be an actual value adjustment for a home located near the school, a strong realtor
will use the location to better market the home, resulting in a more favorable
Q: When is the best time of year to buy a house?
A: The best time to buy a home will depend on what's most important to the home buyer.
Because upward price movements happen most often in the spring and early summer months, home buyers who want the most affordable prices will most likely find them during the winter months. While typically lower supplies during the late fall and winter months, there are also fewer buyers to compete with which keeps sale prices lower and the opportunity to negotiate a favorable price higher. During these winter months however, the snow has come and there's less opportunity to evaluate the condition of exterior items on the home including: roof, landscaping, slope of yard, central air units, etc. Because of this, home buyers who want the most assurance their new home is in top condition will buy in the spring-summer.
BOTTOM LINE - Each home buyer will need to first determine their objectives in buying a home and then they will be better able to answer the question.
For questions regarding the Maple Grove real estate market, contact Broker/Realtor David Garves call/text: 763-221-5834 or email dgarves@TheMLSonline.com. Do you have a question for the “Ask the Realtor” segment? Email firstname.lastname@example.org
Read more about the Maple Grove housing market here:
Maple Grove new listing supply started off very quickly in 2015 as the warmer than usual spring brought home buyers out early. Maple Grove home owners responded with a fresh supply of homes. Read More »