Shoebox houses (e.g Chesmar) going for Mint Prices, Urban dilapidated house going for Mint prices to Flippers, whole suburban homes with Yards, Updated interiors, all Brick, are BARELY getting double what they cost ...and Property Taxes are Literally Insane, City Managers/Council are Frolicking in their 40% increased Revenues.. San Antonio, TX..
@@NightSky777 property tax for our home is $10K in WA. They limit property tax increases without voter approval to 1% as an aggregate amount. Individual property tax fluctuations vary based on assessment changes relative to other properties. Voters are voting against tax increases usually. State legislators are pushing to cities to approve more taxes without voter approval. Look at voting records of the state reps and senate candidates on tax increases when you vote.
All you say is so true. Bad realtors overstate value to seller to capture the listing then bring down price after listing. Sellers are so greedy too. Sellers hear of others making a killing when they sell and their greed sets in.
Having to price low enough to get buyers but then having to reduce more is a no go. Realtors should reduce their commission by the same dollar amount they expect us to lose. Selling a house is too expensive. Too much equity is lost to brokers and realtors. Now they all want to give referrals so they take another cut from each other. Never ever accept a referral from a realtor. Such a corrupt industry!!! So sick of their games.
Great info, Jen! Wish you were here in NC! You’d be my go to when I sell someday. You’ve really educated yourself and have a lot of experience. It shows! Appreciate all your advice and guidance. Thanks so much!❤️🙏
I agree with you about staging! I'm shocked at how many houses on Zillow leave clutter and personal items everywhere; maybe they didn't take the realtor's advice. I also appreciate the new technology with virtual staging. On Zillow, I've been noticing how virtual staging was used with photos of the room empty and then photos with virtual staging. I sold my home when this hadn't been invented yet, took my realtor's advice, and cleared out my house before selling. I wish virtual staging was available because it really polishes up things and helps the buyer visualize a new, fresh look to the rooms. Minimizing is important to the look of the home too, but I should have used some of my furniture to stage. When we sold my mom's home after mine, we cleared out everything, I staged things with more modern pieces we each had and it really made the house look polished, clean, and created the emotion we were hoping for. We happened to be in a hot market at the time, and it sold in the first week with multiple offers, but I'm glad I made the effort...it could have made the difference.
I know two people that had empty houses sit on the market for over a year. Both of them ended up taking offers for less than than what they had been offered the first month they were on the market. The carrying costs alone were a fortune because both had moved pretty far away.
IM SCARED! I sold my last house myself and when we sell this one.....30+ years later....it's going to be cutthroat!! There was no internet back then, like now😢
Appreciate you watching - thanks for the kind words! Rest assured - mean comments will not stop me from making more educational content....it motivates me to make more!
Interesting...I had a friend who was using a realtor in the Atlanta area a few years ago. Her strategy was to " under price" the house because she said she could get a bidding war started and get an over ask offer. He didnt go with that plan...but I wonder how successful that strategy is in a hot sellers market
Hi Jen! love your videos! They're so informative. I was wondering if you could do a video in regard to selling antique homes. We live in a 215 year old New England cape cod that is very original; fireplaces, behive oven, wide plank floors, windows, etc. Of course, there are bathrooms! We're probably looking at selling in a few years. Any advice you could give would be helpful.
That's a great idea - I'll add to the schedule! Living in Plymouth I've seen (and sold) my fair share of antique homes. They require attracting a certain type of buyer. I appreciate your suggestion - thank you for watching!
Our realtor gave us a reference where she represented them as a seller and then represented them as a buyer. The reference was a mortgage lender. The reference praised our realtor for discouraging them from offering as much as they were prepared to offer to buy a home. So I am hearing don't ask for too much as a seller, and hearing that prices are increasing. Sell low and buy high? If a seller is in a market where their ability to buy is by selling for top dollar, then that's what a seller needs to do, or don't sell if they can stay put.
Completely agree - everyone will have their own situation and if that means they can't (or shouldn't) sell, then the best plan is to stay put. Thanks for sharing your experence!
I guess I am odd bird in that staging does nothing for me. I am the " clip board" buyer. I want stats, room sizes, I want to specifically see the updates....or updates needed. I always say I am looking for money. meaning money the sellers have spent or money that I am going to have to spend I look at the MLS sheets, check comps and updating and come up with my offer
As I wrote commenting on a video on this channel not long ago, the business of buying and selling has become more complicated in the last 2, maybe 3 decades, enter "staging"! And so, according to the experts, a bunch of stuff, including some furniture, should be removed and put in storage and so now a storage unit has to be rented and items moved there. Obvious repairs are just common sense but let's not forget that those are NOT brand new homes but places where people have lived for years. Selling prices! Brokers have their "magical" ways to come up with a price, but the same 3,000 square feet house with 4 bedrooms, 2 and 1/2 baths, 2 car garage on a half acre can have very different values on the very same school district. Finally, I see too many brokers too eager to reduce the price, after just a couple of weeks, to ensure a quick sale, $20-30,000 at 6% is just a few hundred bucks for them but for a seller could be a lot of loss. When I bought my homes, location and curb appeal were the first to turn me on or off, then the layout of the rooms and level of finishes. Whether or not there were furniture, or wall colors meant nothing because I knew I would repaint and decorate it according to my taste and also expected to do some repairs here and there. Consumers, either buying or selling, should do their own homework and not blindly trust realtors.
I bought my house in july of 2021 after losing three bidding wars. It was the house of our dreams, so I paid 20k more....just to make sure I wasn't overbid. Three years later, everything has changed. Covid came, illegals have come to the neighborhood, and they are on the rampage in the neighborhood so our property values have not appreciated like I thought. I have decided to sell June 2024, but it needs a roof now, market has gone slowly back up to where I purchased it at; and with 20k in closing costs, I'm going to go into the hole - there is no getting around it. I don't think i should wait until next April, as things could be worse. This is an election year - do you think I should wait or sell now? '
Always make your decision based on when it's right for YOU to sell - don't time the market. The only exception would be if you can't financially afford to sell. But if your finances are in order, and you desire to move, then don't wait. And if you'd like a pre-screened agent referral in your area, please let me know jensylvester.com/realtor-referral
What are you seeing in your local market?
Shoebox houses (e.g Chesmar) going for Mint Prices, Urban dilapidated house going for Mint prices to Flippers, whole suburban homes with Yards, Updated interiors, all Brick, are BARELY getting double what they cost ...and Property Taxes are Literally Insane, City Managers/Council are Frolicking in their 40% increased Revenues..
San Antonio, TX..
@@NightSky777 Thanks for sharing - that sounds in line with what I'm hearing in your area! Appreciate you watching the video.
@@NightSky777 property tax for our home is $10K in WA. They limit property tax increases without voter approval to 1% as an aggregate amount. Individual property tax fluctuations vary based on assessment changes relative to other properties. Voters are voting against tax increases usually. State legislators are pushing to cities to approve more taxes without voter approval. Look at voting records of the state reps and senate candidates on tax increases when you vote.
We underpriced and got 10 offers over asking. A lot of people could not qualify. I live in California.
All you say is so true. Bad realtors overstate value to seller to capture the listing then bring down price after listing. Sellers are so greedy too. Sellers hear of others making a killing when they sell and their greed sets in.
Having to price low enough to get buyers but then having to reduce more is a no go. Realtors should reduce their commission by the same dollar amount they expect us to lose. Selling a house is too expensive. Too much equity is lost to brokers and realtors. Now they all want to give referrals so they take another cut from each other. Never ever accept a referral from a realtor. Such a corrupt industry!!! So sick of their games.
Sorry you feel that way. Thank you for watching.
Great info, Jen! Wish you were here in NC! You’d be my go to when I sell someday. You’ve really educated yourself and have a lot of experience. It shows! Appreciate all your advice and guidance. Thanks so much!❤️🙏
I agree with you about staging! I'm shocked at how many houses on Zillow leave clutter and personal items everywhere; maybe they didn't take the realtor's advice. I also appreciate the new technology with virtual staging. On Zillow, I've been noticing how virtual staging was used with photos of the room empty and then photos with virtual staging. I sold my home when this hadn't been invented yet, took my realtor's advice, and cleared out my house before selling. I wish virtual staging was available because it really polishes up things and helps the buyer visualize a new, fresh look to the rooms. Minimizing is important to the look of the home too, but I should have used some of my furniture to stage. When we sold my mom's home after mine, we cleared out everything, I staged things with more modern pieces we each had and it really made the house look polished, clean, and created the emotion we were hoping for. We happened to be in a hot market at the time, and it sold in the first week with multiple offers, but I'm glad I made the effort...it could have made the difference.
Used a dual agent. Never again. One offer in one week on market and agent told us to take it. It was 90,000 less than asking. Not good
I know two people that had empty houses sit on the market for over a year. Both of them ended up taking offers for less than than what they had been offered the first month they were on the market. The carrying costs alone were a fortune because both had moved pretty far away.
IM SCARED! I sold my last house myself and when we sell this one.....30+ years later....it's going to be cutthroat!! There was no internet back then, like now😢
Thank you for your series of invaluable advice. I am keeping them all for when the time comes to sell. You are a gem.
Great video. Thank you.
And thank you for braving this platform. Some of the comments are harsh.
Appreciate you watching - thanks for the kind words! Rest assured - mean comments will not stop me from making more educational content....it motivates me to make more!
@@savvyhomeseller You're awesome, thank you!
Interesting...I had a friend who was using a realtor in the Atlanta area a few years ago. Her strategy was to " under price" the house because she said she could get a bidding war started and get an over ask offer.
He didnt go with that plan...but I wonder how successful that strategy is in a hot sellers market
Hi Jen! love your videos! They're so informative. I was wondering if you could do a video in regard to selling antique homes. We live in a 215 year old New England cape cod that is very original; fireplaces, behive oven, wide plank floors, windows, etc. Of course, there are bathrooms! We're probably looking at selling in a few years. Any advice you could give would be helpful.
That's a great idea - I'll add to the schedule! Living in Plymouth I've seen (and sold) my fair share of antique homes. They require attracting a certain type of buyer. I appreciate your suggestion - thank you for watching!
Our realtor gave us a reference where she represented them as a seller and then represented them as a buyer. The reference was a mortgage lender. The reference praised our realtor for discouraging them from offering as much as they were prepared to offer to buy a home. So I am hearing don't ask for too much as a seller, and hearing that prices are increasing. Sell low and buy high? If a seller is in a market where their ability to buy is by selling for top dollar, then that's what a seller needs to do, or don't sell if they can stay put.
Completely agree - everyone will have their own situation and if that means they can't (or shouldn't) sell, then the best plan is to stay put. Thanks for sharing your experence!
I don't even have a house to sell, but I love your videos!
Appreciate you being here!
Love the video thank you so much
Glad you enjoyed it!
I guess I am odd bird in that staging does nothing for me. I am the " clip board" buyer. I want stats, room sizes, I want to specifically see the updates....or updates needed. I always say I am looking for money. meaning money the sellers have spent or money that I am going to have to spend
I look at the MLS sheets, check comps and updating and come up with my offer
VIRTUAL staging?? You mean that if i have to sell an empty condo, the agent would photo shop great looking furniture but still show the empty condo?
Great video!!!
Thank you for watching!
As I have heard, "Your first offer is often your best offer."
As I wrote commenting on a video on this channel not long ago, the business of buying and selling has become more complicated in the last 2, maybe 3 decades, enter "staging"! And so, according to the experts, a bunch of stuff, including some furniture, should be removed and put in storage and so now a storage unit has to be rented and items moved there. Obvious repairs are just common sense but let's not forget that those are NOT brand new homes but places where people have lived for years.
Selling prices! Brokers have their "magical" ways to come up with a price, but the same 3,000 square feet house with 4 bedrooms, 2 and 1/2 baths, 2 car garage on a half acre can have very different values on the very same school district. Finally, I see too many brokers too eager to reduce the price, after just a couple of weeks, to ensure a quick sale, $20-30,000 at 6% is just a few hundred bucks for them but for a seller could be a lot of loss.
When I bought my homes, location and curb appeal were the first to turn me on or off, then the layout of the rooms and level of finishes. Whether or not there were furniture, or wall colors meant nothing because I knew I would repaint and decorate it according to my taste and also expected to do some repairs here and there. Consumers, either buying or selling, should do their own homework and not blindly trust realtors.
Thanks for sharing
I bought my house in july of 2021 after losing three bidding wars. It was the house of our dreams, so I paid 20k more....just to make sure I wasn't overbid. Three years later, everything has changed. Covid came, illegals have come to the neighborhood, and they are on the rampage in the neighborhood so our property values have not appreciated like I thought. I have decided to sell June 2024, but it needs a roof now, market has gone slowly back up to where I purchased it at; and with 20k in closing costs, I'm going to go into the hole - there is no getting around it. I don't think i should wait until next April, as things could be worse. This is an election year - do you think I should wait or sell now?
'
Always make your decision based on when it's right for YOU to sell - don't time the market. The only exception would be if you can't financially afford to sell. But if your finances are in order, and you desire to move, then don't wait. And if you'd like a pre-screened agent referral in your area, please let me know jensylvester.com/realtor-referral