My New Blog

Sellers often have difficult decisions to make when preparing their homes for sale. In addition to de-cluttering and staging there may be other substantive repairs to consider such as a new roof or needed upgrades to bathrooms and the kitchen.

Generally, if the work being considered needs to be done in order to bring the home into line with others on the market the repairs should be done by the seller prior to listing. Things that won’t increase a buyer’s price viewing window are best left incorporated into the initial price point decision.

While sellers can deliberate on which home renovations and repairs can be delayed they should know that, for the basics, a “no compromises” slogan should be their motto.

With the proliferation of TV programs targeting the real estate industry most people are now very conversant on the basics needed to get a home into “show shape.” Sell This House, Designed to Sell, and others have done a very good job proving the importance of removing clutter, generalizing the décor, and using vignettes to clearly define space.

The reality for many home sellers is that it can be difficult, if not impossible, to thoroughly accomplish this and force features of their home to take center stage. There may simply be an overwhelming amount of “things” and it may be impossible to redecorate while they continue to live in the home.

When sellers find themselves in this unfortunate situation, vacating the house may be a good thing to consider. Once the house is vacant, repainting, carpeting, and staging becomes easier and less stressful on the homeowner. It is also easier, and generally less costly, to affect needed changes in style when the house is vacant and workers do not have to work around the occupants.

And in those instances where there are children or pets it can be even more important to give serious consideration to vacating the home prior to listing. Let’s be honest- a family that manages to keep a home in show shape with kids or pets is a candidate for the Superhero Hall of Fame.

From a financial standpoint the numbers would seem to suggest that listing a vacant and properly staged home makes sense and deserves serious consideration. A properly priced home in great show shape usually generates a maximum amount of interest in the first few weeks on the MLS. An acceptable offer can often be negotiated within 30 days and close under 75.

So, if a homeowner is forced into an interim housing situation the rent paid for 90 days while the home is being marketed would be an expense they would add to the ongoing mortgage payment on the vacated home. But, the total cash outlay needed would likely be significantly less than the cost associated with a home on the market for 6 or 7 months.

Viewed objectively it readily becomes evident that vacating and staging can be a viable option to living in a home throughout the listing process.

Selling doesn’t have to be stressful and giving serious consideration to the moving timeline can go a long way towards ensuring lower blood pressure along the way. So, while sellers are thinking about the repairs and renovations to do before listing they should also give serious consideration to a “vacate and stage” strategy for the basics.

We are now within a few weeks of having the home buyer tax credit expire and those who wish to take advantage of this once in a generation program need to be a bit concerned if they aren’t currently under contract. To be eligible buyers need to have an accepted purchase agreement in place no later than April 31, 2010 with the transaction closing before July 1.

Last year a huge number of buyers tried to qualify for the tax credit program but didn’t start the process until a couple of weeks before the expiration. Then they were spared when Congress decided to extend the program. Unfortunately, it doesn’t look like there will be another extension.

When you take a realistic look at the process time line you can see where new buyers that are just starting might be in for a very unpleasant shock.

Assume you start looking for a house and it takes two weeks to find a suitable candidate. If it takes a week to get the agreement accepted you are already out three weeks. As of this writing there are five full weeks until the first deadline which is getting the purchase agreement signed by all parties.

The bottom line is that if you have realistic hopes of qualifying for the home buyers tax credit you should already have been to the bank, chosen a Realtor, and started looking at houses. If you haven’t as yet done all these things you’d better get going because time is running out.

A recent search for Sioux City residential homes for sale in most price ranges paints a pretty bleak picture. At this time last year there were almost 200 more listings on the MLS. Days on market has fallen, on average, over 40 days while the total number of pending listings hasn't. Less inventory plus a shorter sale cycle coupled with the same number of pending contracts means less system wide desirable active listings.

From a practical point this means fewer homes from which buyers can choose. The well upgraded, properly priced listing doesn't last very long and often elicits multiple offers on the first listing day. Some buyers experience a month long search in which few new listings appear in their preferred price point. Very frustrating for both buyer and Realtor.

I'm a bit surprised, actually, at this recent dearth of inventory in Sioux City. With the restructured tax credit for homebuyers expanding to include existing homeowners (that have been in their primary residence for 5 years) one would think that quite a few would be taking notice and using this time to move up. They may be, in fact, but if they are, it's not yet impacted inventory levels.

The process of selling your home can be both intimidating and filled with anxiety. However, it looks as though it might be worth taking the plunge right now with the lack of inventory on the market. In the simpliest of terms, there just isn't much competition out there right now and it will be very interesting to see if things change as we move past the Holidays and into 2011.

Ever stop to think about the fun activities in our area? As someone who's lived in a wide variety of places I've always been surprised at how many people will travel thousands of mles to see a regional attraction when they've not seen those in their own town.

If you're a resident of Sioux City have you been to Trinity Heights? This larger than life religious tribute is more than simply amazing. And the surrounding landscaping and flora makes this a "must see" attraction for just about anyone. Even if you're not very regligous you have to be impressed with the display.

Floyd Bvld. is a major thoroughfare that runs along the entire length of town. But, have you been to the Floyd Monument overlooking the river? It has to be the best vantage points in town to view either the city or the river (the picture on our main splash page is taken from the monument.)

Then there are the many places along the Missouri River that offer so many recreational opportunities. It would be quite impossible to mention them all, but it's safe to say that there is something for everyone.

So, before you schedule that next trip out of the area you may want to consider some of the attractions we have right here in Siouxland. In addition to saving a boatload on money for gas you just might also have a great time.