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Market to Your Audience

by Karen Picarello

Your home is a unique property which will offer benefits that can’t be matched by any other property. Understanding both which similar properties are on the market, and which demographics are likely to be interested in your property can help you to price it and sell it effectively.

One major thing to consider when preparing your house is the demographic of your ideal buyer. While you may be surprised, and you will almost never have a buyer who matches your profile exactly, you can get a great idea of what the demand for your home will be if you understand what people value.

A great example of this is the local school system. If there is an incredible local school system, this could make the property quite attractive to young couples and families. However, this is unlikely to be something that a set of retirees are concerned about. While you will be able to point to this as something which will help their future property retain value, they may be more interested in purchasing something which offers value that they can enjoy.

In other words, when you are looking to sell your house, do some research on the features which make it unique, and figure out who these things will be important to. Is it a safe family neighborhood? Are there spaces for children to play? Or is it an area which is quiet and isolated? An isolated house which offers privacy will draw a different potential buyer than one which is located on a main thoroughfare.

While the seller of your home will be the one who is actively engaging with prospective buyers and will therefore be bringing up factors which are applicable to the potential buyer, if you can identify that your property has a number of factors which are desirable and work together, you can work to market the property on the back of these factors. While they may not allow you to drastically increase the price, it is certainly possible for you to be able to convince a buyer that this is the property for them, or that a minor concern is not important compared to the major benefits available.

Make sure that you get an agent who really understands the strengths and weaknesses of your property, and who will market it to people who want it for it’s strengths. Otherwise, you may end up struggling to sell a beautiful property.

Beware of Termites

by Karen Picarello

I have talked often about things potential buyers need to keep an eye out for, but one thing which has not been discussed here much is the importance of avoiding termites and other wood boring pests. There are a few reasons why these pests in particular are dangerous to homeowners.

First, damages caused by termites and other pests are often not covered by homeowners insurance. This means that you could one day discover that your house needs tens of thousands of dollars worth of work in order to be structurally safe, but your insurance wont pay a dime.

Additionally, spotting termites and termite damage can be difficult. While some damage can be visible, there can often be cases where they are almost impossible to detect without proper training and tools. This means that while visible damage is a good sign that there are termites, a lack of visible damage does not indicate a lack of termites. If you are seriously considering a property, do your own inspection to look for termite damage, but also don’t forget to hire a professional. A professional pest inspector is your best bet, and this can be done in addition to the normal inspection.

But what if termites are found? If you do end up finding damage, it does not mean that you will have to give up on your plans to buy the house. If there is a moderate amount of damage, the current owner may agree to doing repairs before selling or lowering the price of the property. Just make sure that the lowered cost is enough that you will still be happy paying for damages on top of the purchase. Follow up, and make sure that the work has been done. Demand records and proof.

Finally, as a homeowner, you should make sure that your property is not being damaged. Keep your property sealed off, avoid storing wood next to the house, and inspect areas that are visible for signs of termites. Finally, every few years you should hire a professional. If termites are ever found, act immediately. It will not get cheaper to deal with the problem, and every day they live will mean more repair work which needs to be done. Eventually, they can make a house structurally unsound and dangerous to live within. If you suspect that you might have an infestation, act immediately.

Choosing the Right Agent

by Karen Picarello

When you are preparing to sell your home, one of the most important decisions you can make is the selection of the agent who will be helping you to close a deal on one of the largest transactions you will ever be a part of. They say that experience is the best teacher, but you don’t want to be saying “well I will do better next time” after selling a property. Most people will only do this a few times in their life, and it could be decades before you sell again. In the meantime, you will be living with the consequences. Particularly with how money compounds over time when invested, making an extra few thousand or tens of thousands of dollars earlier in life can make a massive difference later on.

Your real estate agent has three primary jobs. The first is to save you money. This means that they will be working to get the best possible offers for your property. You want to find an agent who will be able to assist in the transformation of the property to make it more marketable, and who will then know exactly how and where to advertise your specific property. An experienced real estate agent will be able to give you advice about where to spend your money to get the best possible value out of the sale. If you can invest a few thousand dollars before the sale with an expected return of ten thousand or more in the asking price, it will be absolutely worth it. Conversely, you don’t want to spend excessive amounts on expensive repairs or stylistic changes that will not change the property value very much.

The second job your agent has is to save you time. We understand that you are busy, you have plans, and would like to move on. Selling a property quickly yet for a fair price will require effective advertising and marketing. Choose an agent who has an active online presence, and who clearly understands how to market different properties effectively.

Finally, your agent is there to save you effort and hassle. There is a lot of paperwork to do when selling a property, and having someone who can walk you through the process will drastically change your perception of the experience. Knowing what will need to be signed and when not an intuitive part of the sale. A good agent will help you feel comfortable and keep you up to date on all of your paperwork.

Displaying blog entries 1-3 of 3

Contact Information

Photo of Team Picarello Real Estate
Team Picarello
RE/MAX Fine Properties North Scottsdale
21000 N. Pima Road, Suite 100
Scottsdale AZ 85255
Office: (480)860-8733
888-548-8713
Fax: (480)860-8755