How Mortgage Rate Changes Impact Your Homebuying Power

If you’re thinking about buying or selling a home, you’ve probably got mortgage rates on your mind. That’s because you’ve likely heard that mortgage rates impact how much you can afford in your monthly mortgage payment, and you want to factor that into your planning. Here’s what you need to know.

What’s Happening with Mortgage Rates?

Mortgage rates have been trending down recently. In the last two weeks the rate on a 30 year fixed mortgage has dropped one full percentage point.  While that’s good news for your homebuying plans, it’s important to know that rates can be unpredictable because they’re affected by many factors.

Things like the economy, job market, inflation, and decisions made by the Federal Reserve all play a part. So, even as rates go down, they can still bounce around a bit based on new economic data. As Odeta Kushi, Deputy Chief Economist at First American, says:

“The ongoing deceleration in inflation, coupled with the Federal Reserve’s recent indication of potential rate cuts [in 2024], suggests an environment supportive of modest declines in mortgage rates. Barring any unforeseen circumstances and resurgence in inflation, lower mortgage rates could be on the horizon, but the journey towards them might be slow and bumpy.”

How Do These Changes Affect You?

When mortgage rates change, it affects how much you pay each month for your home loan. Even a small rate change can make a big difference to your monthly bill.

Take a look at the chart below to see how different mortgage rates impact your house payment each month for various loan amounts. Imagine you can afford a monthly payment of $2,600 for your home loan. The green part in the chart shows payments in that range or lower based on varying mortgage rates (see chart below):

Understanding how mortgage rates impact your payment helps you make better decisions.

How Can You Keep Track of the Latest on Rates?

A Realtor like John Foster has the expertise to help you understand what’s happening and what it means for you. They can provide tools and visuals, like the chart above, to show how rate changes impact your buying power.  Here are rates as of last week to give you an idea of the the information John receives every week from Lenders.  

You don’t need to be a mortgage expert; you just need a professional by your side. Someone who can help you make sense of the market and guide you through your homebuying or selling journey.

Bottom Line

If you have questions about the housing market, let’s connect. That way you’ll understand what’s going on and how to navigate it.  Call or text me at 770 722-7010.  I love to talk real Estate.

#mortgagerates #alpharettarealestate #cummingrealestate #suwaneerealestate #ldsagentinatlanta #homelight #opendoor

The Biggest Mistakes Atlanta Homebuyers

Are Making Right Now

By John Foster, Realtor with Keller Williams

Some Highlights

• Want to know the biggest mistakes Atlanta homebuyers are making today?
• They include everything from putting off pre-approval for too long, holding out for the perfect home, buying more than they can afford, and skipping out on hiring a pro.
• Let’s connect to make sure you have a pro on your side who can help you avoid these mistakes.  Call, text or email me today - john.Foster@kw.com or 770 722-7010

This chart shows the principle and interest for loans at various rates and amounts borrowed.  This does NOT include the amounts for escrowed items.  

John Foster, 

Your Family Realtor since 2003

770 722-7010

John.Foster@kw.com

Top 25 Reasons a Home Does Not Sell In Atlanta Ga

By John Foster, Realtor Since 2003

If you listed your home with a Realtor and the listing has expired (i.e. did not sell), it's completely normal to feel a mix of frustration and disappointment.  In Atlanta over the past 18 months about 25% of homes listed did not sell during the listing period.  That is even with a strong sellers market.

Understandably, you're probably wondering what may have gone wrong. What stopped your home from Selling?  Here are the top 25 items I look for when I am invited to look at a home after the listing has expired. 

First item on the list before listing the home again is to determine why it did not sell.  Here are my Top 25 items I look at when a listing expires:

Bottom Line

What To Do When Your House Doesn’t Sell

By Atlanta Realtor John Foster 

When a homeseller decides to sell their home they usually call a Realtor and put their home on the market.  When listing with a realtor the listing agreement usually has a 90 - 180 listing time period.  If the home does not sell during that time period the agreement "expires" .  Over the past 18 months about 25% of all homes listed expire.

If your listing expired and your house did not sell, it’s very natural to feel a mix of frustration and disappointment. And as you’re working through that, you’re probably also wondering what went wrong and what you should do next.

If you still need to move and want to get it back on the market, here are some things to consider as you make plans.

Make Sure you Understand the Market

Was the market a buyers market?  A sellers Market?  Did the market change?  This is key in understanding how to market your home.  In a seller's market, there is a shortage of inventory (homes for sale) and home values are usually going up.  Buyer have limited choices of homes which affects how many options they have available to them.  In a buyer's market it is the opposite.  Lots of homes to choose from so they Buyers are more aggressive in offer price and what they ask for.  Why do they do that?  Because if one seller will not give them what they want other sellers will.

Watch interest rates - if they go up less buyers are interested in buying a home.  When they go down, are buying coming into the market.  

When pricing your home and when buyers show interest in your home, make sure you understand the market - this is a key to getting your home sold.  Make sure your next agent understands the market and how it impacts selling your home. 

Finally, understand our real estate market can change quickly.  Interest rates, jobs and number of homes for sale a key metrics to watch.

Was It Priced for Today’s Market?

Setting the right price from the start is key. While it might be tempting to try shooting high with your price, that can slow down the selling process big time. If your house was priced higher than others similar to it, it may have turned away buyers. And that’s likely why it sat on the market. As Rocket Mortgage explains:

“Buyer interest in your home is highest when it first comes on the market. That’s why it’s so important to start with the right price on day one. . . If you overprice your house, buyers may just raise an eyebrow and move on to the next listing without even coming for a showing. . . It can be easy to think your home is worth more but try not to let sentimental value color your judgment. Your home’s true value is whatever a buyer is willing to pay for it.”

Was It Easy for Buyers To Tour?

One of the biggest mistakes  you can make when selling your house is overly restricting the days and times when potential buyers can tour it. Even though it might feel stressful to drop everything and leave when buyers want to see your house, being flexible with your schedule is important. After all, minimal access means minimal exposure to buyers. ShowingTime advises :

“. . . do your best to be as flexible as possible when granting access to your house for showings.”

Was It Set Up To Make the Best Impression on Buyers?

If buyers weren’t interested in your house, it’s worth taking another look at your home through their eyes. Are there outstanding repairs that may be distracting them? Even if it’s a small thing, some buyers may see it as a sign the maintenance on the home is falling behind.

Just remember, you don’t always need to make big upgrades. Selective small repairs or touch-ups go a long way. Things like tidying up your landscaping, a fresh coat of paint inside, or removing personal items and clutter can work wonders in sprucing up the house for potential buyers. You could also consider staging the home.

Were You Willing To Negotiate?

If there were offers coming in, but you weren’t ready to negotiate, that may be another reason why it didn’t sell. While you want to get top dollar for your house, you also need to be realistic about what your house can net in today’s market. The market is still tipped in a seller's favor, but the supply of homes for sale is growing and buyers are feeling the sting of higher mortgage rates. So being willing to play ball can make closing a deal a whole lot easier.

Did You Trust Your Agent's Advice?

The biggest complaint Sellers have about their Real Estate Agent, per the National Association of Realtors, is Agents do not communicate with them.  You should have a weekly call with your agent at a minimum just to get updates.  If you agent offered advice, you to try the advice and how did it work?  The primary value a Realtor brings to a seller is their experience and advice so realize that advice is what you are paying for.   

Moving Forward 

If you still need or want to sell your home, get an expert's advice on why it didn’t sell.  Find a Realtor you trust and will rely on.  Evaluate your prior agent and you may  want to try again.  If you want to new set of eyes to look at your home and are going to interview agents to get your home sold, I would love to interview for the job of getting your home sole.

I specialize in Selling Homes that did not sell the first time.  Call John Foster at 770 722-7010 and request my FREE Book "HOW TO SELL YOUR HOME AFTER YOUR LISTING EXPIRES".

I will sit down and take the time to talk off advice in a very straightforward way so you know what it takes to sell your home.  There are many reasons a home does not sell.  I find most sellers in this situation want to hear my honest opinion and what they should next. 

I always listen to the Seller's perspective and goals and offer tailored advice and effective strategies for re-listing your house to get it sold. As Better Homes & Gardens says, an agent should be your go-to resource in this situation:

“If you’re frustrated with the timeline of your sale, chat with your real estate agent. Agents want what is best for you and the sale of your home, and having open communication about any frustrations will be key.”

Bottom Line

It’s natural to feel disappointed when your listing has expired and your house didn’t sell. Let us connect to determine what happened, and what changes you should make to get your house back on the market and sold this time.  Call or text John Foster at 770 722-7010. 

If you are interested in selling your home and want to interview another agent, I use my Expired Merchandising Review form to figure out why homes do not sell. Usually takes less than 10 minutes after walking through the home.  If you are interested in this Free Service - just contact me at 770 722-7010.

Here are a couple Videos you may find helpful:

#Alpharettarealestate #cummingrealestate #suwaneerealestate #kcm #howtosellmyhome #homesellerguide #homesellersguide #ldsrealtorinatlanta #ldsagentinatlanta #atlantatemple #johnfosterrealtor #Alpharettahomesforsale #cumminghomesforsale #suwaneehomesforsale

Housing Market Forecast: What’s Ahead for the 2nd Half of 2024

As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales.

Home Prices Are Expected To Climb Moderately

Home prices are forecasted to rise at a more normal pace. The graph below shows the latest forecasts from seven of the most trusted sources in the industry:

The reason for continued appreciation? The supply of homes for sale. Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), explains:

“One thing that seems to be pretty solid is that home prices are going to continue to go up, and the reason is that we don't have housing inventory.”

While inventory is up compared to the last couple of years, it’s still low overall. And because there still aren’t enough homes to go around, that’ll keep upward pressure on prices.

If you’re thinking of buying, the good news is you won’t have to deal with prices skyrocketing like they did during the pandemic. Just remember, prices aren’t expected to drop. They’ll continue climbing, just at a slower pace.

So, getting into the market sooner rather than later could still save you money in the long run. Plus, you can feel confident experts say your home will grow in value after you buy it.

Mortgage Rates Are Forecast To Come Down Slightly

One of the best pieces of news for both buyers and sellers is that mortgage rates are expected to come down a bit, according to Fannie Mae, the Mortgage Bankers Association (MBA), and NAR (see chart below):

When you buy, even a small drop in mortgage rates can make a big difference in your monthly payments. For sellers, lower rates will bring more buyers back into the market, which can help you sell faster and potentially at a higher price. Plus, it may help you get off the fence, if you’ve been hesitant to sell due to today’s rates.

Home Sales Are Projected To Hold Steady

For 2024, the number of home sales will be about the same as last year and may even rise slightly. The graph below compares the 2024 home sales forecasts from Fannie Mae, MBA, and NAR to the 4.8 million homes that sold last year:

The average of the three forecasts is about 5 million sales in 2024 – a small increase from 2023. Lawrence Yun, Chief Economist at NAR, explains why:

“Job gains, steady mortgage rates and the release of inventory from pent-up home sellers will lead to more sales.”

With more inventory available and mortgage rates expected to go down, a few more homes are expected to be sold this year compared to last year. This means more people will be able to move. Let's work together to make sure you’re one of them.

Bottom Line

If you have any questions or need help navigating the market, reach out.

Considering Selling Your Home without an Agent?

If you are considering selling your home without using and agent consider the pros and the cons:

Pros:

If you sell your home yourself you can Save the Commission you would have paid your agent.  The question is what is your goal?  Is it to not pay a Realtor or to Net the Most Money or Avoid some of the stress and hassles that come with selling a home.

Even if you sell your home without an agent are you sure you are getting the most money for your home.  Did you know a home sold without using a Realtor sells for about 24% less than those listed and sold with a licensed real estate agent.  (2003 Profile of Home Buyers and Sellers from NAR)

Cons:

I think the biggest con is for most people selling their home is their biggest asset and the exposure to pricing it wrong or making a mistake can be big.  You should know there are some major downsides. 

You’d miss out on marketing tools, expert pricing, top-notch negotiation skills, and the know-how to handle all the fine print. Why take on all that stress alone? Let’s chat and make sure you have the support you need.

There are safety issues and someone to bounce ideas off - my advice is talk to John Foster today if you life in North Atlanta.

If you decide to go FSBO - ask for My FREE book entitled For Sale By Owner Guide - it is really helpful.

Do not underestimate negotiation skills specifically used by Realtors. Knowing the emotions of the buyer or seller is a huge help.

Why take on all that stress alone?

Let’s chat and make sure you have the support you need. Call or Text Realtor John Foster today at 770 722-7010.

#HOMESFORSALECUMMINGGA #realestatetips #confidentdecisions #keepingcurrentmatters #HOWDOiSELLMYHOMEWITHOUTANAGENT #HOWTOSELLMYHOMEbsbo #fsbo #opendoor

Home Prices Aren’t Declining, But Headlines Might Make You Think They Are

If you’re seeing headlines about sellers slashing prices and are worried about what that means for home values, let's clear things up. 

There’s a difference between the asking price and the sold price. 

While more sellers are adjusting their asking price, that’s a signal of moderating demand – not falling home values. 

As this graphic shows, actual sold prices are still climbing.

In Fact, in the Atlanta Market average sales price is up 3.4%.  

Do you want to know how much equity you have in your home?  Call/text or email me today!!

John.Foster@kw.com or 770 722-7010.

The bottom line is home prices are higher than they were a year ago at this time, and they’re expected to keep rising, just at a slower pace.

But a recent article from Redfin notes,

“Price Drops Hit Highest Level in 18 Months As High Rates Dampen Buyer Demand.”

And that might make you think prices are declining.

Now, while it’s true the latest report from Realtor.com also shows 16.6% of homes on the market had price reductions in May, which is up from 12.7% last May, that doesn’t mean overall home prices are falling.

The key is knowing the difference between the asking price and the sold price.

Understanding Asking Price vs. Sold Price

In essence, the asking price, also known as a listing price, is the amount a seller hopes to get for their home when they list it. In reality, sellers can’t just put any price tag on their house and expect it to sell for top dollar. Today’s buyers are savvy customers, and when they aren’t willing to pay a premium for a home because their budgets are strained by higher mortgage rates, sellers need to adjust. And that’s what’s happening right now.

Based on market factors and what offers that seller receives, that asking price can change. If a seller isn’t getting much foot traffic, you may see them revise the price and make an adjustment to reignite interest in the home – and sometimes that’s because they’ve overpriced it from the start. That’s where price reductions come in, and when you see “price drops” in a headline, it sounds like declining home prices.

Mike Simonsen, CEO and Founder of Altos Research, says:

“Not only is the share of homes with price cuts elevated compared to one year ago, but more price cuts are happening each week than last year.”

On the other hand, the final sold price is the amount a buyer actually pays when the transaction is complete.

Here’s the most important thing to note: Actual sold prices are still rising, and they’re expected to continue to do so at least over the next 5 years.

What Does This Mean for Home Prices?

So, while there's been an increase in price reductions recently, this doesn't mean overall home values are declining. Instead, it’s a sign that demand is moderating. And, as a result, sellers are adjusting their expectations to align with today's market reality.

Even with more price reductions, home values are still growing on an annual basis, as they do nearly every year in the housing market. According to the Federal Housing Finance Agency (FHFA), home prices went up 6.6% over the last year (see below):

This map shows how prices rose just about everywhere in the country, indicating the market is not in decline.

So, while seller price reductions are often a leading indicator that prices may moderate in the months ahead, which experts have been saying for a while is expected to happen, they aren’t necessarily reason for alarm. The same article from Redfin also states:

“. . .those metrics suggest sale-price growth could soften in the coming months as persistently high mortgage rates turn off homebuyers. For now, the median-home sale price is up 4.3% year over year to another record high. . .”

And with inventory as tight as it is today, price moderation is much more likely in upcoming months than price declines.

Why This Is Good News for Buyers and Sellers

For buyers, more realistic asking prices mean a better chance of securing a home at a fair price. It also means you can enter the market with more confidence, knowing prices are stabilizing rather than continuing to skyrocket.

For sellers, understanding the need to adjust your asking price can lead to faster sales and fewer price negotiations. Setting a realistic price from the start can attract more serious buyers and lead to smoother transactions.

Bottom Line

While the uptick in price reductions might seem troubling, it’s not a cause for concern. It reflects a market adjusting to new conditions. Home prices are continuing to grow, just at a more moderate pace. Call Realtor John Foster at 770 722-7010 if you are considering selling your home in North Atlanta Cities of Alpharetta, Cumming, Milton, Johns Creek or Suwanee.

#homeprices #housingmarketupdate #keepingcurrentmatters #howdoIsellmyhome #cumminglistingagent #suwaneelistingagent #alpharettalistingagent #ldschurchinatlanta #movingtoatlanta

Summer Home Seller Guides are Available Now!!

Download your FREE home Seller's Guide from Realtor John Foster - Click HERE

If you’re thinking about buying or selling a home in Atlanta Ga, Specifically Alpharetta, Cumming, Johns Creek, Milton or Suwanee, you want to be sure you have the information you need to make a confident decision. Enter the Summer Buyer and Seller Guides by Realtor John Foster.  

The guides combine data on the biggest trends in the market, expert insights, and more. DM me to get a copy today at 770 722-7010 or John.Foster@kw.com.  

Home Seller's Checklist:

Everyone seems to want a checklist for Selling their home.  Well in my Seller's Guide - you will get a checklist for preparing your home for sale.  Here is the table to contents.  It is FREE so to download your copy today CLICK HERE.

In our area the market is changing.  The supply of homes is increasing as I would expect this time of year.  That gives people selling their homes much better options when buying a home if you are staying in our area.

If you are selling your home and are ready to interview agents for the job of selling your home - I would love to interview.  Call or text me at 770 722-7010.

If you want to get to know me a little better - click here to Meet John Foster, Realtor

#buyingahome #sellingyourhouse #keepingcurrentmatters #Cumminghomes for sale, #Alphareattahomesforsale #suwaneehomesforsale #AlpharettaRealtorJohnFoster #cummingrealtor #Suwaneerealtor  #howdoIsellmyhome 

The Atlanta Real Estate Update for June 2024.

Comparing May 2024 vs May 2023 for the Entire FMLS area of Atlanta

If you want to follow your community each month - visit www.GreatAtlantaHomes.com - see the sidebar on the right.  If you do not see your subdivision - email me and I will be happy to set it up for your.

Here is how to evaluate the months supply of homes for sale.

#movingtoatlanta #bestrealtorinatlanta @atlantaldsagent @ldschurchinatlanta #Atlantarealtor #atlantarealestate

#johnfosterrealtor #bestlistingagentinsuwanee

1. De-CLUTTER

Decluttering is typically the first thing we tell clients to do to prepare their home for sale. And according to the National Association of Realtors, a whopping 93 percent of agents agree.¹ Decluttering is the act of removing excess “stuff” from your home to make it appear clean and spacious.  

(Photo by Holme Design - Look for kitchen pictures)

Overflowing closets and cluttered countertops can make your house feel small and cramped. In contrast, sparsely-filled closets and clear countertops will make your home appear larger and assure buyers that there will be plenty of room to store their belongings.

Don’t neglect drawers, cupboards and even your refrigerator in your decluttering efforts. Serious buyers will check out every nook and cranny of your home, so pack up anything you don’t use on a daily basis and store it off site. The same goes for jewelry, sensitive documents, prescription medication, firearms and other items of value. Store them in a locked safe or storage unit before opening your property to buyers.

2. DEEP CLEAN AND DEODORIZE

From carpets to bathrooms to appliances, having a clean home is a MUST. If you’ve ever checked into a dirty hotel room, you can imagine how buyers can be turned off by a home that hasn’t been thoroughly cleaned.

 If you have a large home, or are short on time, you may want to invest in a professional cleaning service. And if you have carpet, we generally recommend you rent a steam cleaner or hire a company to clean your carpets for you.

In addition to cleaning, it’s equally important to neutralize odors in your home that can be off-putting to buyers, especially pet smells and cigarette smoke. If the weather allows, open your windows and let in fresh air. Empty the trash frequently, and especially before a showing. Avoid cooking any strong-smelling food such as fish or heavy spices. You may need to clean (or remove) drapes and upholstery if odors are particularly strong.

One last item - do NOT forget to check your basement for smells.  If it has a moldy or mildew smell that is a major turn off to buyers.  Running a dehumidified helps a lot.  If you need advice - do not hesitate to call or text me (John Foster) at 770 722-7010. 

Try to keep your home in clean, show-ready condition while it’s on the market. You never know when a potential buyer will want to drop by for a viewing.

3. DEPERSONALIZE

Your family photos and personal mementos are often your most treasured possessions. For many of us, they are what make a house a home. However, buyers will have a hard time envisioning themselves living in a place if it feels like YOUR home.

 Pack up any items that are personal to you and your family, such as photos, books, children’s artwork, travel souvenirs and religious items. Collectibles and excessive knickknacks can be distracting to buyers. Instead, keep your decor items minimal and generic to appeal to the largest number of buyers.

4. NEUTRALIZE YOUR COLOR PALETTE

Photo by Ellen Grasso & Sons, LLC - Browse family room photos

Along those same lines, bold color choices may not appeal to all buyers. By incorporating a neutral color palette throughout your home, buyers can better visualize the addition of their own furniture and decor, which may contrast with your current color scheme.  We want your home to appeal to as many people as possible.

But don’t limit yourself to white and beige. Incorporating earth tones and midtone neutrals—like mocha and “greige” (grey-beige)—can add a touch of modern sophistication to your decor.³

5.  INCREASE YOUR CURB APPEAL

You only get one chance to make a first impression. According to a 2017 report by the National Association of Realtors, 44 percent of home buyers drove by a property after viewing it online but did NOT go inside for a walkthrough.⁵ That means if your curb appeal is lacking, buyers may never make it through the door.

Walk around your home and look for any neglected areas that might seem like “red flags” to buyers, such as missing roof shingles or rotted siding. Trim trees and shrubs if needed, and make sure your lawn and flower beds are well maintained. Add some colorful flowers to your front beds and/or flower boxes to brighten up your landscaping.

Make sure the exterior of your home is as clean as the interior. This can often be accomplished with a simple garden hose. But if your siding, walkway, or driveway are stained or dingy, you may want to rent a pressure washer.

Thoroughly wash windows and screens, and remove and store dark solar screens if you have them. Open shutters, curtains and blinds, which will not only make your house look more inviting from the outside, it will brighten the inside.  One obvious item it to keep the yard cut and edged.

Consider a fresh coat of paint on your front door, trim and shutters. And small, cosmetic improvements like new house numbers, a colorful wreath and a clean front doormat can have a big impact.⁶

6.  FRESHEN KITCHENS AND BATHS

Buyers often imagine hosting family gatherings in their new home, and the dining room plays a large role in that vision. If your dining room chairs are stained or outdated, you may want to recover them or use slipcovers. In most cases, an imperfect table can be camouflaged with a neutral and stylish tablecloth. 

Kitchens and bathrooms will show better and appear larger if all items are cleared from the countertops, except for one or two decorative pieces.⁷ You should have already packed up non-essentials during your decluttering process, and the remaining items should be neatly stored in pantries and cupboards. 

Be sure the table is centered underneath the chandelier and on the area rug if you’re using one. If your dining room is small, remove all other furniture and leave only four chairs.⁸  Dress up the table using nice tableware and cloth napkins or a table runner and centerpiece. For a long table, try lining up a series of small vessels down the middle.

If your cabinets are dingy or outdated, adding a fresh coat of paint and new hardware is an easy and inexpensive way to make them modern and bright. Consider purchasing new shower curtains, bath mats and towels for the bathrooms and new dish towels for the kitchen.

Before each showing, make sure kitchens and baths are spotless and trash cans are empty and out of sight. To add a comforting aroma, try baking cookies, or in the fall, simmer some cinnamon sticks and cloves in a pot of water before you leave the house. In the spring, try a vase of fresh cut lilacs.⁷

One Final Word about the importance of Kitchens.  The kitchen is one of the two rooms I consider most important in selling a home.  Homebuying decisions are often made in the kitchen so it is very important not to overlook the kitchen.

7.  REARRANGE FURNITURE

Start in your living room and think about what you want to emphasize (and de-emphasize) about the space. For example, do you have a beautiful fireplace or a stunning view? If so, arrange the furniture with that focal point in mind. Use a symmetrical seating arrangement to create a cozy conversation area adjacent to the focal point.

If the room is small, consider removing some of the furniture to make it feel larger, especially oversized pieces. That includes oversized television sets, unless it’s a designated media room. Pulling furniture away from the wall can make the room feel more spacious, and placing your largest furniture piece in the far-left corner (as opposed to near the entry) can create the illusion of a larger space.⁹ 

For small bedrooms, remove all the furniture except the bed, bedside tables and a dresser. If it’s a large room, add one or two chairs and a table to create a seating area. Place lamps on the bedside tables and seating area if you have one.¹⁰

Make sure each space in your home has a clearly defined purpose. For example, if you’ve been using an extra bedroom as a catch-all storage space, stage it as a guest room or office instead. Turn an awkward alcove into a workstation or a reading corner. Help buyers imagine how they could use the space themselves.³

8.  LIGHTEN UP 

Lighting can have a drastic impact on the look and feel of a home. Few buyers seek out a dark house; most prefer one that’s light and bright. Make sure windows are clean, and open curtains and blinds to let in the maximum amount of daylight.

Each room should have three types of lighting: ambient (general or overhead), task (such as a reading lamp or under-cabinet light), and accent (such as a floor or table lamp). Aim for a goal of 100 total watts per 50 square feet.¹¹ If your mounted light fixtures are dated, replacing them with something more modern is an easy and inexpensive upgrade that can have a big impact.

Strategically placed landscape lighting can add a dramatic effect to your home’s exterior. Welcome evening visitors with a lighted walkway, or use a spotlight to accentuate trees or other landscaping features. Solar lights require no wiring; simply place them in a sunny spot and they will turn on automatically at dusk.

9.  HIGHLIGHT YOUR BACKYARDS BEST FEATURES 

While your home’s interior often takes center stage, don’t forget about staging your home’s outdoor areas to help buyers imagine how they could utilize the space. 

Even a small patio can become a selling feature with the addition of a cafe table and chairs. Add a tray of plates and coffee cups to help buyers envision a peaceful breakfast on the back porch. Place chairs and wine glasses around an outdoor firepit or hang a hammock with a book in your favorite shady spot.³ These small, simple additions can help buyers visualize the possibilities your backyard has to offer.

10.  FIX ANYTHING BROKERN

Think first impressions, does the doorbell work, is there a kickplate on the door, are the steps to the front door separating from the landing.  When a buyer looks at a home that home has made the first cut which means the location, price and size are acceptable to the buyer.  Now what sells a home if the "feel of the home".  If a buyer walks through a home if the notice too many items that need repairing I often see their mind flip into looking for additional items that are wrong with the home instead of envisioning it becoming their home.

Simple items include making sure all the lights work, that the smoke alarm is not beeping because of a dead battery, the heater/air conditioner is working, no broken windows, doors open and close correctly, sliding glass doors work, the deck is safe to walk on and no trees have fallen on the home.  Common sense goes a long way in selling homes.  The best advice I can give you to is think about when you bought the home and why you selected that home compared to others.

If you look at flooring and paint and ask yourself should I replace this or let the buyer do it?  It is very common.  What I see often is a buyer often doubles or triples the cost of a project or repair in their heads.  Yes the buyer might plan on changes after moving in and that is fine.  What you want to do is have the best home for the price you are selling. 

A home does not have to be in perfect shape to sell it.  It does need to be priced based on the condition of the home.  Some items are simple to correct - a rusted AC grate is a couple of dollars at Home Depot - that is a great return on investment.  Cutting down a tree that has grown up next to the home and removing mold are more difficult and more expensive to handle.  Homes can and do sell with these issues, just realize it impacts the sales price and who the likely buyer will be.  

I recommend doing the items that have the best return on investment and impact the ability to sell a home.  Feel free to contact me if you want to discuss specific items.  

  BEFORE YOU GET STARTED GET YOUR FREE HOME SELLER'S GUIDE

If you’re in the market to sell your home, the top 10 above provides a great starting point for your preparations. But nothing beats the trained eye and expertise of a great Realtor. Before you do any work, we recommend consulting a professional for advice about your particular property.  Call John Foster, Full Time Realtor since 2003 at 770 722-7010 if you live in North Atlanta. 

John Foster is a full time Realtor in Atlanta Ga and offers a free, no-commitment seller consultations and will walk through your home with you to help you assess which projects and upgrades are worth your time and money, and which ones you can skip.

You want a local market expert, who is intimately familiar with buyer preferences in your area. John will run a comparative market analysis to find out how your home compares to others currently on the market, as well as those that have recently sold. Then we’ll tailor a custom plan to suit your particular property, budget and needs.

Download John's FREE HOMESELLER'S GUIDE TODAY by Clicking HERE  If you're in the process of preparing your home for sale, make sure you have my FREE Home Sellers Guide - it will provide you the information to make confident decisions.  Click here to download your Copy now. 

Please call or email John today with questions or to schedule a free consultation!

John Foster, Realtor

770 722-7010

John.Foster@kw.com

Follow John on YouTube - here are recent videos by John

Real Estate Questions answered in this article include how do I prepare my Suwanee home for sale, how do I stage my home for sale, do I need to stage my Alpharetta Home to sell it?  Do I need to stage my home if I live in Cumming Ga, Best list to prepare my home for sale, #Alpharettarealestate #CummingRealEstate #Suwaneerealestate #ldsrealtorinatlanta #ldstemple

Sources:

1.     National Association of Realtors –
https://www.nar.realtor/sites/default/files/migration_files/reports/2017/2017-profile-of-home-staging-07-06-2017.pdf

2.     Real Estate Staging Association –
http://www.realestatestagingassociation.com/content.aspx?page_id=22&club_id=304550&module_id=164548

3.     Houzz –
https://www.houzz.com/ideabooks/2661221/list/sell-your-home-fast-21-staging-tips

4.     HGTV –
https://www.hgtv.com/design/outdoor-design/landscaping-and-hardscaping/10-curb-appeal-tips-from-the-pros-pictures

5.     National Association of Realtors –
https://www.nar.realtor/sites/default/files/reports/2017/2017-home-buyer-and-seller-generational-trends-03-07-2017.pdf

6.     The Spruce –
https://www.thespruce.com/must-try-neutral-paint-colors-797983

7.     HouseLogic –
https://www.houselogic.com/sell/preparing-your-home-to-sell/home-staging-checklist/

8.     StageMyOwnHome.com –
http://www.stagemyownhome.com/staging-the-dining-room.html

9.     Realtor.com –
https://www.realtor.com/advice/sell/small-living-room-staging-tricks/

10.   SFGATE –
http://homeguides.sfgate.com/stage-master-bedroom-34573.html

11.   HGTV –
https://www.hgtv.com/shows/designed-to-sell/15-secrets-of-home-staging-pictures