Tag Archives: Buyers

Selling your home in Boulder…do you want to sell it or keep your pets happy?

By Michael Hughes  October 1, 2010

Are you trying to sell your home in Boulder? Does your house smell like dogs, cats or gerbels in any form?  Are cat boxes out? Has the dog made the backyard a non negotiable obstacle course? Clean it up!  Now! Is your home safe for buyers to be there, with your pets, when you are not there?

We all love our pets but a couple things every home seller must be brutally honest about – are my pets stinking up my home and making it hard for buyers to see or concentrate on my home? More specifically:

1. Are there pet stains on your carpet?

Does your house smell like dog pee, cat poop or hamster?  If it does, clean it up immediately, deodorize it or move it.  Have your carpets professionally cleaned or replaced.  Clean the cat box the backyard and the hamster cage daily!  This is not an option if you want to get your home sold.

2. Is your home safe for buyers to be there, with your pets, when you are not there? If the answer is Yes – you are good to go.

Your hamster is cozy in his cage and his wheel is well oiled with WD40.  Your cat is happy to nap on the bed and is not an escape artist ready to dart out any time the door opens.  You don’t have to make buyers wait for you to run home and get the pets ready.  As the saying goes time kills deals, even a little time and if the buyer can’t see the home it is soon forgotten.

If the answer is No, then consider the following.

Make a safe area in your home where you can temporarily confine your pet – so they are safe and visiting buyers are safe.  Crate your dog and confine your cat. Sometimes even cats attack surprised home buyers, check this out:

Of course we love our pets – But Potential Buyers May Not

If your pets are large, vicious, scared, overly affectionate, pee when visitors arrive, or have any behavioral or personality or physical characteristics that might put someone off, consider relocating them to a safe environment.  Perhaps your mother-in-laws house. Just temporarily,  until your home sells.   Put them in the laundry room, or in the kitchen with a baby gate.  Or in the backyard. Just think about how much easier it is buyers to see your home when it is convenient for them, rather than when it is convenient for your pet(s).

I can help you. If you have questions about this article or anything give me a call anytime. Michael Hughes-Fuller Sotheby’s International Realty 303-359-6627 or you can visit my website at www.BolderRealEstate.com

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Home Buying 101-The Cliff Notes

By Michael Hughes  January 29, 2010

Buying a home need not be difficult. I have been doing deals since 1996 and multiple deals later, each deal is unique and require different skill sets. No two deals are alike because of circumstances of buyer and seller and house, etc.

If you have a solid job and a good credit rating there is no problem with financing.

Find a professional Realtor with experience.  Realtors also have tools to help you get the most up to the minute information on active and new listings.  Often times I find I will know about a house going on the market a week or two before it goes on the market.  I can set up a password protected or regular MLS search so you can see what is on the market and what is coming.  Give Michael a call today.

Get pre-approved by a reputable lender.  A couple of very competent individuals Amanda at WR Starkey Mortgage and Jennifer Asbury over at Wells Fargo-Private Mortgage Banking.

Seeing homes.  I suggest 6 or fewer per day. After that it becomes a blur.  I love hearing what you do like as well as what you don’t like about each house.  I give you a summary of what we will be seeing to take notes on, ask questions and communicate likes and dislikes.

After viewing and narrowing your choice for homes down to one. it will be time to make an offer.  Before the offer is made I will research what is on the market as well as what has recently sold nearby to confirm the offering price.  Now it is time to evaluate the seller, what they owe, how many days on the market, what do I know about their motivation and what was the starting price, has anything changed in the neighborhood since they went on the market. With this in mind we create an offer stratagem.

Once the strategy is in place your Realtor will prepare a written offer.  Your Realtor will advise you on reasonable and achievable dates, contingencies, inclusions, exclusions, financing (unless cash), and any additional provisions unique to this particular property.  Once the offer is finished the buyers sign and date the agreement.  The offer is then delivered to the listing agent for review.

Included with the offer is a check for the earnest money.  This is a good faith deposit.  This check is deposited into a brokerage or title company escrow account.  Earnest money is negotiable but is typically around 1% of the offer price.  You can lose your money if you do not perform provisions in a timely manner or change your mind.  Your deposit will be returned if you are not approved for a loan or there is an inspection issue where resolution cannot be achieved.

After the contract is accepted by the sellers the major contingencies are loan approval, inspection resolution and title documentation.  This is a good time to lock in an interest rate with your lender.  Inspection is next and done soon after acceptance.  Either issues are resolved or the contract is terminated.  Next is clear title and exceptions and hoa covenants.

Appraisal is next.  If the house appraises under the value of the purchase price, the buyer has three options, re-negotiate with the seller, put additional money down to keep the loan to value ratios in line, or terminate the contract.

Right before closing is the time to do the final walk through.  Your Realtor will arrange this.  This is the time to make sure all inclusions are present and all inspection issues and any additional provisions have been finished.

Closing typically takes place at a title company.  Your Realtor will have already told you how much money to bring to closing in the form of a cashiers’ check or a bank wire. The title closer will guide the parties through the various documents that are signed.  After signing typically keys are exchanged and you are now the proud owner of a wonderful home.

If you have any questions about buying or selling real estate in Boulder please feel free to call Michael. You can also visit my website.  Please feel free to leave a comment.

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The Top Reason Your House Did Not Sell

The Top Reason Your House is Not Selling (The number 1 reason)

1.         The number ONE reason your home is not selling is,  your home is OVERPRICED. Optimistic buyers often say “there’s a buyer for every home.”  What they often leave off is the qualifier “at the buyers’ price.” The fact is that buyers, not sellers, ultimately determine the market value of a home. Overpricing is the most common reason homes do not sell. Price!  When you set a high price it sets an intention in motion. Most real estate agents and most qualified buyers will see your listing within the first 30 days. If it is overpriced by as little as 5% it will be duly noted and interest in your property will wane. Buyers will notice when it has been on the market for a substantial period of time it will become shop worn and potential buyers will start asking the all too common question about overpriced listings “I wonder what’s wrong with it?” Buyer code for let’s low ball them. If you do not drop your price, and soon, you will be doing what is called “chasing the market.” What you want to be doing is “leading the market.”  The other problem is once an offer is made your property may not appraise for the agreed upon asking price, thus throwing another wrench in the works. Often it is overcome by the seller coming down to the appraisal price or the buyer walking away from the deal. Competition to sell a home is high. Price it right to begin with and it will sell.

If you have questions about this article or anything Boulder give me a call anytime. Michael Hughes-Fuller Sothebys International Realty 303-359-6627 or you can visit my website at www.BolderRealEstate.com

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Obama signs New Buyer Credit and More… November 17, 2009

By Michael Hughes

Great news for Boulder County real estate. Congress approved the extension and expanded the homebuyer tax credit to further stimulate the housing market. The date has been extended to April 30th, 2010 (originally scheduled to end November 2009). The tax credit requirements have been expanded to include current home owners as well as first time home buyers, and it now includes people earning a higher income as well (up to $125,000 for singles and $225,000 for married couples compared to $75,000 and $150,000).
The tax credit amount can be up to $8,000 for first time home buyers and up to $6,500 for current home owners who decide to move. The amount is determined by the price of the house and by the purchaser’s income. The tax credit applies for homes purchased up to $800,000. There are plenty of homes in Boulder for sale at this price range.
As a current home owner, you qualify for the tax credit if you have lived in the house you now own, for at least five consecutive years within the past eight years. Even if you’ve owned property in the past you may still qualify as a first time home buyer if you have not owned your primary residence for the past three years. Call Michael Hughes to get an honest home evaluation to see what your home could sell for today, and what else is available for you in and around Boulder.
Hopefully the great interest rates we are experiencing will hold. Right now is the best time to buy, and if you need to sell it’s a good time to secure the increased number of buyers out there due to the tax incentives and low interest rates.
Contact us today if you or anyone you know needs real estate help….
e-Mail michael.hughes@sothebysrealty.com Direct 303-359-6627 Website:www.bolderrealestate.com

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