Interesting Property “Claws”…

1438207_43852058A family in Australia was recently able to sell their home with a little help from the family pet. Tiffany, the seller’s cat, so endeared herself to the children of potential buyers, one family offered $140,000 above the asking price, if Tiffany the cat was included in the deal.

That’s right! The buyers wanted to keep the cat and were willing to pay a handsome price for it. The sellers were sad to leave their pet behind, but said they anticipate a trip to the local shelter in the near future.

So, what’s the strangest thing you’ve ever negotiated into a contract?

Make Your Condominium Look Larger When Selling

CondoSelling a condominium can be a challenging task. There are many selling points such as low- or no-maintenance living and the close proximity of amenities. The challenging part can be maximizing the space and creating an environment that shows well to potential buyers. Here are a few tips on how to go from cramped to cozy in a small condo:

1. Paint – Light, Bright, and Consistent
Studies show lighter colors are often more inviting and give off the perception of a larger space. It’s also important to make sure the ceiling color is lighter than that of the walls; this “tricks” the brain into thinking the ceilings are higher.

Consider painting all your rooms the same color. Different hues in different rooms create the illusion of division, making spaces seem smaller and more segmented. One neutral color will create an open and flowing environment.

2. Let’s talk about the kitchen…
Keep things uniform. Update countertops, backsplash, and cabinet handles but make sure everything matches and stays in a light, neutral zone. Remember, you’re not making these changes to satisfy your own style or taste. You want buyers to be able to imagine themselves in this space, not feel like they’re invading your space. Continue reading

Northern Kentucky June Home Sales Up 6 Percent

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June was a strong month for Northern Kentucky home sales with a 6% increase as compared to June 2013.

June 2014 versus June 2013

  • 6.02% Increase in units sold (599 vs 565)
  • 6.88% Increase in sales volume
  • .81% Increase in average sold price ($163,510 vs $162,192)
  • -2.4% Decrease in median sold price ($142,500 vs $146,000)

January – June 2014 versus January – June 2013

  • 1.27% Increase in units sold (2,801 vs 2,766)
  • -0.06% Decrease in sales volume
  • -1.31% Decrease in average sold price ($152,349 vs $154,375)
  • -1.85% Decrease in median sold price ($132,500 vs $135,000)

The number of new listings has risen each month in 2014 with 2,806 current active listings. Although listing inventory is down as compared to prior years, the smaller number of homes available for sale has driven average selling prices higher.

Say What?! Phrases to Avoid When Selling Your Home

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It’s natural to be demanding and, dare I say, stubborn when it comes to selling your home. It is your home after all and you have probably invested a lot of time, money, and energy into it. It may be difficult to hear anything other than what you want to hear when it comes to listing, showing, and selling such a prized possession, but here are a couple of phrases to avoid if you don’t want to chase away potential buyers.

“I Just Don’t Have Time to Spruce Up the Yard”
Curb appeal is the home’s equivalent to firm handshake and eye contact. It will be the first, and possibly most important, impression your home makes on a potential buyer. If selling your home is your goal, making a good first impression should be a priority.

“I’m Not Moving My Stuff for Anyone!”
It can be quite a challenge to live in a home while trying to sell it. Being asked to remove personal photos or put away items you use every day can seem a bit demanding and intrusive. Despite the inconvenience, decluttering and depersonalizing your home can be a very important process, allowing potential buyers to picture themselves in the space instead of feeling like they are intruding on your space.

“We’re Not Budging on That!”
Most home sales don’t happen without a little negotiation. Unwillingness to negotiate on price, fixtures/appliances, or repairs can run off a potential buyer. It is important to remember there are likely more potential homes for the buyer than there are potential buyers for the home. The negotiation stage is a time when a knowledgable, skilled, and attentive real estate agent can be your best friend and strongest advocate.

Tips When Selling Your Home in Summer

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If you are selling your home this summer, here are 3 tips to help your home be more appealing to buyers:

Keep Your Home Cool
When buyers are touring your home you want them to be comfortable. Make sure your home is set to a cool temperature so that it is not stuffy. If you have ceiling fans, keep them on during showings.

Think Outside Living
People enjoy spending time outside during warmer months. If you have an outdoor living space such as a patio or deck, be sure to stage it. Read more about this here.

Curb Appeal
Summer is a great time to make your front yard shine. Have colorful perennials in pots or along a border in the yard, make sure the lawn is neat and trim, and shrubs need to be cut back and not block the view of the home’s exterior.

 

Southeastern Indiana Home Sales Increase by 23 Percent in May

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Home sales volume increased by 23% in May for Southeastern Indiana. Here is a breakdown of sales for the month for this region:

May 2014 versus May 2013

  • 23% Increase in gross sales volume ($14.3 million vs $11.4 million)
  • 15% Increase in home sales units (99 homes vs 86 homes)
  • 4.2% Increase in average sale price ($145,278 vs $139,813)
  • 9.1% Increase in median sale price ($140,000 vs $127,200)

Year To Date Sales: January – May 2014 versus January – May 2013

  • 2.0% Increase in gross sales volume
  • 6% Decrease in home sales units (381 homes vs 404 homes)
  • 8.21% Increase in average sale price ($135,934 vs $125,620)
  • 5.0% Increase in median sale price ($119,000 vs $113,500)

Sibcy Cline Sales: May 2014 versus May 2013

  • $220,625 average sale price ($80,000 above the board average)
  • $211,000 median sale price ($71,000 above the board average)

Sibcy Cline Sales: Year To Date Sales: January – May 2014 versus January – May 2013

  • $208,220 average sale price ($72,000 above the board average)
  • $167,000 median sale price ($48,000 above the board average)

 

Data: Southeastern Indiana Board of Realtors Home Sold Report, 6/4/14

Home Price Predictions Are Positive for the Next Five Years

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If you are thinking of buying or selling a home, you are probably asking, “Where are home prices headed in the next five years?” Here are some predictions:

Per the Home Price Expectation Survey:

  • Home values should appreciate by 4.5% in 2014
  • Average annual appreciation should be 3.94% over the next 5 years
  • Cumulative appreciation should be between 11-19.7% by 2018

Note: This survey includes the averaged results from 100+ national economists, real estate experts and investment strategists.

Article from: Keeping Current Matters