Home sellers this season are taking a more grounded approach to pricing than they did in the fall, as buyers grow more selective and less willing to overpay.
In a Redfin survey last month, 57 percent of home sellers said their strategy was to price their property in a middle range, an increase of 7 points from our October survey. Thirty-two percent said they would price high, down from 34 percent.
“We’ve seen a shift in the right direction toward pricing in the middle range to better encourage multiple offers,” said Will Fassinger, a Redfin agent in Atlanta. “There’s always the fear of becoming a stale listing that scares buyers off or pricing so low that you don’t attract the right buyers. We advise sellers that we don’t have to negotiate a ton to get the preferred price.” Full Article
Economy and inventory are top concerns
General economic conditions continued to trouble sellers, with a third citing it as a top concern. Almost as many were worried about finding another house to buy, echoing the results of our October 2015 survey. A chronically low inventory of properties for sale has created a housing logjam.
“Even with surging home prices, listings were still down three percent in January from a year ago,” said Redfin chief economist Nela Richardson. “Sellers are worried that today’s buyers won’t pay enough for their current home to finance their next-level house.”
Savvy Lane has bridged the gap between for sale by owner and traditional brokerages. We realize real estate is not a one size fits all traditional commission. Our do-it-yourself platform enables our customers to buy and sell real estate for a fixed fee. Join the thousands that have save millions by using our services.
Tuesday, March 1, 2016
Monday, February 29, 2016
Keep Your Commission America
Savvy Lane has rebuilt real estate from the ground up by combining For Sale by Owner and the traditional process. Using our flat fee MLS service will save you thousands of dollars by eliminating the traditional 6% commission. By listing your property on the MLS and hundreds of real estate websites you will increases your exposure tenfold.
Today 98% of buyers start their search online, make sure your property is seen on as many sites as possible with our flat fee MLS options. As a licensed brokerage Savvy Lane will provide access to the MLS, forms, yard signs, lock boxes and support to help you sell like the pros. Our proven technology has transformed the selling process.
Savvy Lane has helped thousands save millions on commissions. Join the revolution and let us help you today.
Thursday, February 25, 2016
10 Low-Cost Tweaks to Help Your Home Sell
Many homeowners won’t even consider listing their home, because they can’t afford extensive remodeling to get it ready for sale. But sometimes it’s not the major renovations that buyers notice. Consider this checklist of cheaper to-do’s before hanging that for-sale sign. Full Article
1. Quick-clean the exterior and landscape. They don’t call it curb appeal for nothing. Check for loose or clogged gutters and broken or missing flashing materials, which help prevent leaks behind the gutters. Cut the lawn and trim the bushes. Make sure the garage doors open and close properly. Wipe down lawn furniture. Fix any dangling shutters.
Estimated costs: Completely replacing gutters can be expensive; replacing just parts is more economical. A 10-foot gutter starts at $6; downspouts start at $8. High-end garage doors cost $1,000, but a decorative garage door hardware kit starts at $19.
2. Make that door (and doorbell) stand out. Many homeowners don’t come in through the front door, but prospective buyers do. “While the Realtor is fiddling with the lockbox, trying to get the door open, the buyer is standing there looking around,” says stager and interior designer Deborah Goode of A Goode Start Decorating and Home Staging in Annapolis, Maryland. Fix cracked or peeling doorways with a fresh coat of paint and be sure the bell actually rings.
Estimated costs: Exterior paints start at $30 a gallon; doorbells are $10 and up.
3. Evaluate every entrance. It’s not just the front door that will get the once-over. “Doors offer a huge bang for the buck visually,” says Chris Neumann, director of operations for Pyramid Builders in Annapolis. Update interior doors or at least replace hinges and knobs, he suggests. “And replace any junky bifolds with double-swing or heavier solid-core doors,” he adds.
Estimated costs: Bronze door hinges can cost $3; solid-core, unfinished pine interior doors start at $99.
4. Look down. People walk in and wipe their feet. One of the first things they’ll notice is the condition of the floor, says Goode. Stained carpets, raggedy rugs and scratched floors are fairly easy fixes.
Estimated costs: You can rent a carpet steam cleaner for $60; the cost of area rugs varies significantly.
5. Select the right scent. Beware the four most dreaded words in real estate: “What is that smell?” Buyers will associate musty odors with mold damage or disrepair, so eliminate any nose agitators. Clean out litter boxes, make sure your animals are bathed, banish the kids’ stinky sports equipment to the basement or garage, and throw out that science experiment in the fridge. Find one scent (or complementing scents) you love and use it throughout the house to avoid scent overload.
Estimated costs: Scented candles can cost $10; plug-in odor eliminators start at $17.
6. Spot treat any blemishes. Walls are an excellent canvas, but they also clearly display age, dirt, indifference, even foundation issues. Fix any scuff marks, nail holes and paint cracks. “Remove all peeling wallpaper and repaint in neutrals to maximize the natural light,” says interior designer Jana Abel, president of J. Abel Interiors in Silver Spring, Maryland.
Estimated costs: Spackling paste starts at $18; interior paint costs $28 a gallon and up.
7. Have a place for everything. If buyers see that your stuff doesn’t have a home, they won’t want your home. “I always advise my clients to take out at least a third of what they have in closets,” Goode says. Make sure anything that’s not on display — shoes, coats, papers, pots, pans — is tucked away and neatly organized. When closet space is at a premium, repurpose other areas for storage. “Finish the garage walls and floors and add some simple storage to make the room part of the home,” says Abel.
Estimated costs: Attractive bins and baskets cost $20 and up; basic shelving systems start at $200.
8. Check the tracks. You may no longer notice that lopsided utensils drawer, but potential buyers will. New cabinetry may be out of the question, but fix bent drawer tracks and slides, replace dangling pulls and tighten screws and handles.
Estimated costs: Basic rail-drawer-track kits start at $3; decorative cabinet knobs start at $4 each.
9. Give the appliances some elbow grease. Buyers want stoves that shine, not evidence of last week’s tuna casserole. Clean the oven, refrigerator, microwave, sink and any other appliance that will be included in the purchase of the home.
Estimated costs: Most cleaning products start at $4; elbow grease is free.
10. Finish with finishes. Bathroom gut jobs can be pricey, but replacing finishing elements such as faucets, showerheads, towel racks and toilet paper holders can significantly brighten a room. “If you have polished chrome faucets or shower valves, you can pick up any chrome accessories and they will match, unlike satin nickel or oil-rubbed bronze,” says Abel. New shower curtains, towels and mats also will help the room look updated and clean, she adds.
Estimated costs: Showerheads can cost $40 and up; bath towels start at $10; faucets are $70 and up.
1. Quick-clean the exterior and landscape. They don’t call it curb appeal for nothing. Check for loose or clogged gutters and broken or missing flashing materials, which help prevent leaks behind the gutters. Cut the lawn and trim the bushes. Make sure the garage doors open and close properly. Wipe down lawn furniture. Fix any dangling shutters.
Estimated costs: Completely replacing gutters can be expensive; replacing just parts is more economical. A 10-foot gutter starts at $6; downspouts start at $8. High-end garage doors cost $1,000, but a decorative garage door hardware kit starts at $19.
2. Make that door (and doorbell) stand out. Many homeowners don’t come in through the front door, but prospective buyers do. “While the Realtor is fiddling with the lockbox, trying to get the door open, the buyer is standing there looking around,” says stager and interior designer Deborah Goode of A Goode Start Decorating and Home Staging in Annapolis, Maryland. Fix cracked or peeling doorways with a fresh coat of paint and be sure the bell actually rings.
Estimated costs: Exterior paints start at $30 a gallon; doorbells are $10 and up.
3. Evaluate every entrance. It’s not just the front door that will get the once-over. “Doors offer a huge bang for the buck visually,” says Chris Neumann, director of operations for Pyramid Builders in Annapolis. Update interior doors or at least replace hinges and knobs, he suggests. “And replace any junky bifolds with double-swing or heavier solid-core doors,” he adds.
Estimated costs: Bronze door hinges can cost $3; solid-core, unfinished pine interior doors start at $99.
4. Look down. People walk in and wipe their feet. One of the first things they’ll notice is the condition of the floor, says Goode. Stained carpets, raggedy rugs and scratched floors are fairly easy fixes.
Estimated costs: You can rent a carpet steam cleaner for $60; the cost of area rugs varies significantly.
5. Select the right scent. Beware the four most dreaded words in real estate: “What is that smell?” Buyers will associate musty odors with mold damage or disrepair, so eliminate any nose agitators. Clean out litter boxes, make sure your animals are bathed, banish the kids’ stinky sports equipment to the basement or garage, and throw out that science experiment in the fridge. Find one scent (or complementing scents) you love and use it throughout the house to avoid scent overload.
Estimated costs: Scented candles can cost $10; plug-in odor eliminators start at $17.
6. Spot treat any blemishes. Walls are an excellent canvas, but they also clearly display age, dirt, indifference, even foundation issues. Fix any scuff marks, nail holes and paint cracks. “Remove all peeling wallpaper and repaint in neutrals to maximize the natural light,” says interior designer Jana Abel, president of J. Abel Interiors in Silver Spring, Maryland.
Estimated costs: Spackling paste starts at $18; interior paint costs $28 a gallon and up.
7. Have a place for everything. If buyers see that your stuff doesn’t have a home, they won’t want your home. “I always advise my clients to take out at least a third of what they have in closets,” Goode says. Make sure anything that’s not on display — shoes, coats, papers, pots, pans — is tucked away and neatly organized. When closet space is at a premium, repurpose other areas for storage. “Finish the garage walls and floors and add some simple storage to make the room part of the home,” says Abel.
Estimated costs: Attractive bins and baskets cost $20 and up; basic shelving systems start at $200.
8. Check the tracks. You may no longer notice that lopsided utensils drawer, but potential buyers will. New cabinetry may be out of the question, but fix bent drawer tracks and slides, replace dangling pulls and tighten screws and handles.
Estimated costs: Basic rail-drawer-track kits start at $3; decorative cabinet knobs start at $4 each.
9. Give the appliances some elbow grease. Buyers want stoves that shine, not evidence of last week’s tuna casserole. Clean the oven, refrigerator, microwave, sink and any other appliance that will be included in the purchase of the home.
Estimated costs: Most cleaning products start at $4; elbow grease is free.
10. Finish with finishes. Bathroom gut jobs can be pricey, but replacing finishing elements such as faucets, showerheads, towel racks and toilet paper holders can significantly brighten a room. “If you have polished chrome faucets or shower valves, you can pick up any chrome accessories and they will match, unlike satin nickel or oil-rubbed bronze,” says Abel. New shower curtains, towels and mats also will help the room look updated and clean, she adds.
Estimated costs: Showerheads can cost $40 and up; bath towels start at $10; faucets are $70 and up.
Wednesday, February 24, 2016
Buying Options
Every buyer has different needs, you have three options when it comes to buying with us. Call us to start searching for the home of your dreams. 800-915-9174 savvylane.com
Tuesday, February 23, 2016
6 Key Steps To Buying A Home This Year
Would-be homebuyers eyeing 2016 as the year have a fair bit working in their favor. Mortgage credit continues to thaw, interest rates remain surprisingly flat and more homes are expected to hit the market as Spring approaches.
To be sure, some buyers have a more streamlined path than others. Macro-level outlooks are one thing; it's another to build the credit and finances necessary to lock down a home loan in the current lending environment.
Whether you're a first-time explorer or a long-term dreamer, here are six tips to help you make the leap and take advantage of a promising housing market in 2016. Full Article
Take your credit:
Credit looks to be loosening as we head into the Spring homebuying season. Through the first six months of 2015, the average FICO credit score for all closed loans was 730, but that decreased to a 722 FICO score by the end of the year, according to mortgage software firm Ellie Mae. Still, building the strongest credit profile possible can save you money when it comes to things like interest rates and private mortgage insurance.
Explore your options:
Homebuying education is key. Studies and surveys consistently show that buyers overestimate their mortgage knowledge or figure their lack of it doesn't matter. The reality is ill-prepared buyers can wind up in bad loans or simply miss out on maximizing their budget and options.
Take time to learn about the major mortgage types, the upfront costs of homebuying and what might make the most sense given your unique credit and financial situation.
Pre-approval is a must:
Shopping for homes is the fun part. But it's way more fun, not to mention useful, to shop for homes you can realistically afford. Work on getting loan pre-approval before starting your home search.
A pre-approval letter shows sellers and real estate agents you're a serious homebuying candidate. In fact, some agents won't accept purchase offers without one. Pre-approval also gives you a clear sense of how much home you can buy.
Know your market:
Bidding wars are breaking out in communities where housing inventory struggles to keep pace with demand. About a third of homes sold for or above their list price in October 2015, according to CoreLogic.
The likelihood of rising mortgage rates in 2016 may push even more buyers into the game. Look for seasoned real estate agents who really know your market and how to navigate a bidding war if need be. Coming in with a strong offer at the outset can be crucial for buyers competing in hotter real estate markets.
Be patient:
Getting to the closing table might take a little longer than normal this year, so plan accordingly. The average purchase loan closed in 50 days in December, eight days longer than the December prior, according to Ellie Mae.
Many mortgage industry professionals point to recent disclosure and documentation changes as the culprit. But those hiccups and delays may subside as lenders, title companies and other industry players better adjust to the new regulations.
A longer closing window can affect everything from purchase contracts and interest rate locks to closing costs and coordinating your move.
Avoid costly detours:
It's a good idea to keep a tight lid on your credit and finances once you've decided to pursue a home purchase. Taking on new credit, changing jobs and even moving money around accounts can raise a red flag with lenders and, in some cases, derail your loan.
Change isn't your friend during the homebuying journey. It's not enough to get your credit and finances in order before starting the process - work hard to keep them that way as you move toward closing day.
To be sure, some buyers have a more streamlined path than others. Macro-level outlooks are one thing; it's another to build the credit and finances necessary to lock down a home loan in the current lending environment.
Whether you're a first-time explorer or a long-term dreamer, here are six tips to help you make the leap and take advantage of a promising housing market in 2016. Full Article
Take your credit:
Credit looks to be loosening as we head into the Spring homebuying season. Through the first six months of 2015, the average FICO credit score for all closed loans was 730, but that decreased to a 722 FICO score by the end of the year, according to mortgage software firm Ellie Mae. Still, building the strongest credit profile possible can save you money when it comes to things like interest rates and private mortgage insurance.
Explore your options:
Homebuying education is key. Studies and surveys consistently show that buyers overestimate their mortgage knowledge or figure their lack of it doesn't matter. The reality is ill-prepared buyers can wind up in bad loans or simply miss out on maximizing their budget and options.
Take time to learn about the major mortgage types, the upfront costs of homebuying and what might make the most sense given your unique credit and financial situation.
Pre-approval is a must:
Shopping for homes is the fun part. But it's way more fun, not to mention useful, to shop for homes you can realistically afford. Work on getting loan pre-approval before starting your home search.
A pre-approval letter shows sellers and real estate agents you're a serious homebuying candidate. In fact, some agents won't accept purchase offers without one. Pre-approval also gives you a clear sense of how much home you can buy.
Know your market:
Bidding wars are breaking out in communities where housing inventory struggles to keep pace with demand. About a third of homes sold for or above their list price in October 2015, according to CoreLogic.
The likelihood of rising mortgage rates in 2016 may push even more buyers into the game. Look for seasoned real estate agents who really know your market and how to navigate a bidding war if need be. Coming in with a strong offer at the outset can be crucial for buyers competing in hotter real estate markets.
Be patient:
Getting to the closing table might take a little longer than normal this year, so plan accordingly. The average purchase loan closed in 50 days in December, eight days longer than the December prior, according to Ellie Mae.
Many mortgage industry professionals point to recent disclosure and documentation changes as the culprit. But those hiccups and delays may subside as lenders, title companies and other industry players better adjust to the new regulations.
A longer closing window can affect everything from purchase contracts and interest rate locks to closing costs and coordinating your move.
Avoid costly detours:
It's a good idea to keep a tight lid on your credit and finances once you've decided to pursue a home purchase. Taking on new credit, changing jobs and even moving money around accounts can raise a red flag with lenders and, in some cases, derail your loan.
Change isn't your friend during the homebuying journey. It's not enough to get your credit and finances in order before starting the process - work hard to keep them that way as you move toward closing day.
Friday, February 19, 2016
Savvy Lane Round Up
This week has been a busy one for us. We listed 12+ homes, went over offers, helped negotiate counter offers and closed a few homes in escrow!
Here are all the current homes we listed:
17302 Meadow Lane Mount Vernon WA 98274
$479,000
Year Built: 1995
Square Footage: 2475
Bedrooms: 4
Bathrooms: 2.75
Parking: 3 Car
MLS Number: 897907
MORE PHOTOS
24593 NE Butteville Road Aurora OR 97002
$734,900
Year Built: 1958
Square Footage: 2486
Bedrooms: 3
Bathrooms: 3
Parking: 2 Car
MLS Number: 16386476
MORE PHOTOS
7019 E J ST Tacoma WA 98404
$234,900
Year Built: 2009
Square Footage: 1672
Bedrooms: 3
Bathrooms: 2.5
Parking: 2 Car
MLS Number: 897611
MORE PHOTOS
4220 Crestwood Place Mercer Island WA 98040
$1,750,000
Year Built: 1969
Square Footage: 4050
Bedrooms: 4
Bathrooms: 3.5
Parking: 2 Car
MLS Number: 897595
MORE PHOTOS
8820 NE 15th Place Clyde Hill WA 98004
$2,585,000
Year Built: 1974
Square Footage: 3680
Bedrooms: 5
Bathrooms: 2.5
Parking: 3 Car
MLS Number: 896714
MORE PHOTOS
2332 Crosby Drive Mount Vernon WA 98274
$415,000
Year Built: 1979
Square Footage: 3610
Bedrooms: 4
Bathrooms: 3
Parking: 2 Car
MLS Number: 896720
MORE PHOTOS
759 S 160th Street Spanaway WA 98387
$469,000
PENDING
Year Built: 1999
Square Footage: 3264
Bedrooms: 3
Bathrooms: 3
Parking: 2 Car
MLS Number: 896707
MORE PHOTOS
225-229 Gambetta Street Daly City CA 94014
$980,000
Year Built: 1975
Square Footage: 2410
Bedrooms: 4
Bathrooms: 3
Parking: 2 Car
MLS Number: 441844
MORE PHOTOS
28150 237th Ave SE Maple Valley WA 98038
$389,900
PENDING
Year Built: 2005
Square Footage: 1954
Bedrooms: 3
Bathrooms: 2.5
Parking: 2 Car
MLS Number: 892605
MORE PHOTOS
15405 35th Ave W, #A3 Lynnwood WA 98087
$319,500
PENDING
Year Built: 2004
Square Footage: 1545
Bedrooms: 3
Bathrooms: 2.5
Parking: 2 Car
MLS Number: 893382
MORE PHOTOS
567 odyssey lane milpitas CA 95035
$1,067,987
Year Built: 2014
Square Footage: 2497
Bedrooms: 3
Bathrooms: 2.5
Parking: 2 Car
MLS Number: 893382
MORE PHOTOS
Here are all the current homes we listed:
17302 Meadow Lane Mount Vernon WA 98274
$479,000
Year Built: 1995
Square Footage: 2475
Bedrooms: 4
Bathrooms: 2.75
Parking: 3 Car
MLS Number: 897907
MORE PHOTOS
24593 NE Butteville Road Aurora OR 97002
$734,900
Year Built: 1958
Square Footage: 2486
Bedrooms: 3
Bathrooms: 3
Parking: 2 Car
MLS Number: 16386476
MORE PHOTOS
7019 E J ST Tacoma WA 98404
$234,900
Year Built: 2009
Square Footage: 1672
Bedrooms: 3
Bathrooms: 2.5
Parking: 2 Car
MLS Number: 897611
MORE PHOTOS
4220 Crestwood Place Mercer Island WA 98040
$1,750,000
Year Built: 1969
Square Footage: 4050
Bedrooms: 4
Bathrooms: 3.5
Parking: 2 Car
MLS Number: 897595
MORE PHOTOS
8820 NE 15th Place Clyde Hill WA 98004
$2,585,000
Year Built: 1974
Square Footage: 3680
Bedrooms: 5
Bathrooms: 2.5
Parking: 3 Car
MLS Number: 896714
MORE PHOTOS
2332 Crosby Drive Mount Vernon WA 98274
$415,000
Year Built: 1979
Square Footage: 3610
Bedrooms: 4
Bathrooms: 3
Parking: 2 Car
MLS Number: 896720
MORE PHOTOS
759 S 160th Street Spanaway WA 98387
$469,000
PENDING
Year Built: 1999
Square Footage: 3264
Bedrooms: 3
Bathrooms: 3
Parking: 2 Car
MLS Number: 896707
MORE PHOTOS
225-229 Gambetta Street Daly City CA 94014
$980,000
Year Built: 1975
Square Footage: 2410
Bedrooms: 4
Bathrooms: 3
Parking: 2 Car
MLS Number: 441844
MORE PHOTOS
28150 237th Ave SE Maple Valley WA 98038
$389,900
PENDING
Year Built: 2005
Square Footage: 1954
Bedrooms: 3
Bathrooms: 2.5
Parking: 2 Car
MLS Number: 892605
MORE PHOTOS
15405 35th Ave W, #A3 Lynnwood WA 98087
$319,500
PENDING
Year Built: 2004
Square Footage: 1545
Bedrooms: 3
Bathrooms: 2.5
Parking: 2 Car
MLS Number: 893382
567 odyssey lane milpitas CA 95035
$1,067,987
Year Built: 2014
Square Footage: 2497
Bedrooms: 3
Bathrooms: 2.5
Parking: 2 Car
MLS Number: 893382
MORE PHOTOS
Keep Calm
We have revolutionized property sales by streamlining the entire process. We provide a faster, easier and less stressful experience. Our helpful team is available 7 days a week. We are hands on during the entire period of your listing. Call us today to see how much you can save listing your home.
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