Category: Tips for Selling Your Home

Top Questions About Selling Your Home This Winter

Posted on | by Kovacs

There’s no denying the housing market is undergoing a shift this season, and that may leave you with some questions about whether it still makes sense to sell your house. Here are three of the top questions you may be asking – and the data that helps answer them – so you can make a confident decision.

1. Should I Wait To Sell?

Even though the supply of homes for sale has increased in 2022, inventory is still low overall. That means it’s still a sellers’ market. The graph below helps put the inventory growth into perspective. Using data from the National Association of Realtors (NAR), it shows just how far off we are from flipping to a buyers’ market:

Top Questions About Selling Your Home This Winter | MyKCM

While buyers have regained some negotiation power as inventory has grown, you haven’t missed your window to sell. Your house could still stand out since inventory is low, especially if you list now while other sellers hold off until after the holiday rush and the start of the new year.

2. Are Buyers Still Out There?

If you’re thinking of selling your house but are hesitant because you’re worried buyer demand has disappeared in the face of higher mortgage rates, know that isn’t the case for everyone. While demand has eased this year, millennials are still looking for homes. As an article in Forbes explains:

“At about 80 million strong, millennials currently make up the largest share of homebuyers (43%) in the U.S., according to a recent National Association of Realtors (NAR) report. Simply due to their numbers and eagerness to become homeowners, this cohort is quite literally shaping the next frontier of the homebuying process. Once known as the ‘rent generation,’ millennials have proven to be savvy buyers who are quite nimble in their quest to own real estate. In fact, I don’t think it’s a stretch to say they are the key to the overall health and stability of the current housing industry.”

While the millennial generation has been dubbed the renter generation, that namesake may not be appropriate anymore. Millennials, the largest generation, are actually a significant driving force for buyer demand in the housing market today. If you’re wondering if buyers are still out there, know that there are still people who are searching for a home to buy today. And your house may be exactly what they’re looking for.

3. Can I Afford To Buy My Next Home?

If current market conditions have you worried about how you’ll afford your next move, consider this: you may have more equity in your current home than you realize.

Homeowners have gained significant equity over the past few years and that equity can make a big difference in the affordability equation, especially with mortgage rates higher now than they were last year. According to Mark Fleming, Chief Economist at First American:

“. . . homeowners, in aggregate, have historically high levels of home equity. For some of those equity-rich homeowners, that means moving and taking on a higher mortgage rate isn’t a huge deal—especially if they are moving to a more affordable city.” 

Bottom Line

If you’re thinking about selling your house this season, let’s connect so you have the expert insights you need to make the best possible move today.

How to Decide Which Offer is Best When Selling Your House

Posted on | by Cuselleration

Selling a home can be a very exciting process, especially as the offers start rolling in. But just because an offer comes in first doesn’t mean it’s the best one. The highest offer also does not always equate to the best offer either.

There are a number of factors and considerations you should keep in mind when reviewing offers for your house.

Payment Type:  The first thing you should do when looking at offers is check out the payment type. Most buyers will not choose to purchase in cash, but offers that are all cash are often the safest offers since sellers don’t have to worry about loan approvals by banks.

Pre-Approval Status:  Pre-approval is another important element to consider when selling a house. Essentially, a letter of pre-approval means a buyer will be able to get the loan they need to purchase your house.
This makes these types of offers safer (and stronger) than from people who are not pre-approved. Do keep in mind there’s a difference between pre-qualification and pre-approval.

Repairs: Your house might need some repairs, but maybe you don’t have the time or money to do them. This makes a buyer who is willing to do the work an attractive one when it comes to selling. Some buyers will ask you to fix things in the house, while others will want to do the work themselves.
Taking this into consideration can save you a lot of time and hassle when it comes to reviewing offers.

Additionally, some buyers will want you to take all the appliances, while others will want to use them. Items like refrigerators and washers can be expensive, so keep this in mind when it comes to reviewing offers.

Contingencies: A lot of offers will come with contingencies attached, which are a list of things that have to happen at certain times in order for the deal to actually go through. For the seller, fewer contingencies are always better, so it’s important to carefully review all contingencies in each offer.
More common ones include inspection, financing, and appraisal. Some buyers will put in a clause to back out of a deal if an inspection reveals too many problems, so be sure to read the fine print of each offer and weigh options accordingly.

Types of Loan:  Buyers will probably come towards you with a variety of mortgages under their belt, and this can lead to very different circumstances for the seller. Conventional loans are popular because they are pretty simple, but some government-backed ones can get a bit complicated since they require specific approvals and repairs at times. Make sure to keep the loan type in mind as you are reviewing offers, since this can add a lot of time and stress to the entire process.

Closing Timeline:  When you are selling a home, you’re probably just
ready to get a deal done and move on to buying your new home. Buyers who come with all cash offers will probably then be the best bet for you, even if the price is a bit below other offers.

Click here to learn everything you need to know about a closing disclosure form!

However, if your plans somewhere else are not yet clear, then you might need an extended closing timeline with a buyer who is willing to take more time. This gives you more of a chance to prepare to buy a new home, and gives the buyer more of a chance to potentially find more money for their own expenses.

Overall, there are a number of things to keep in mind when reviewing offers for your home. Price does matter, and this might be the most important factor for you, but some offers come with a lot of risks that makes them more of a hassle, even if you are getting more money upfront.

Are you in the market to purchase a home in Rancho Santa Margarita, Coto de Caza, or Mission Viejo? Click here to talk to the Kovacs Connection Team today!

Courtesy of Cuselleration

21st Century Marketing: How The Kovacs Connection Sets Your Home Apart to Sell

Posted on | by Cuselleration

It can by mind-bending to think about how quickly technology is changing the way we live. When we pull out an iPhone, we may assume they have been around forever, but actually, Apple released ads touting the iPhone in June of 2007. That’s only been 10 ½ years!

And Facebook? It was launched 14 years ago by Mark Zuckerberg, along with his fellow Harvard College students and roommates. Now Facebook has 2.2 billion monthly active users and the company has assets of $84.5 billion US$.

Speaking of Facebook, it bought Instagram in 2012. Instagram, with its videos, direct messaging and advertising now has more than 400 million users.

Suffice it to say that technology has completely changed the way we interact with the world, and that includes how potential homebuyers want to interact with seeing properties on the market. At The Kovacs Connection, we love showing houses to potential buyers, but we back that up with a strong arsenal of new technology that can help you get your home noticed quickly. We market your home with the newest and most effective forms of digital marketing to reach buyers where they want to be reached: 24/7, with detailed information and images at their fingertips, in order to get you the sale you want!

First Things First: Set Your Home Apart From the Rest

The Kovacs Connection provides exceptional home staging, where we:

  • Restyle and organize
  • Provide interior design
  • Create a comfortable, livable space

Let’s Fly Away

We use drone videography to showcase your home in location to your neighborhood. This is particularly important for out-of-town buyers who want to see where they will be in relation to the rest of the neighborhood, and their new community. It gives a bigger picture to the potential homebuyer and we find it invaluable.

I’m Ready for My Closeup

We also work with fantastic photographers who specialize in real estate photography. They provide customer high quality photos of the different areas of your home, allowing potential homebuyers to visualize themselves in the space, and create interest about seeing the property in person.

The Third Dimension

At The Kovacs Connection, our team works to create 3D tours of your home, which is the latest in real estate marketing technology. Now, a potential buyer out of town, or who is too busy to spend days looking at properties can get a sense of your home by just utilizing a few clicks on the computer. We have found that can create an immediate emotional connection that can put your property on the top of their “Must See” list.

Let’s Be Social

Remember our discussion about social media? We utilize the latest social media marketing techniques to make sure we expose your property to a new audience. That way, we can target custom audiences who are most likely to buy your home!

We love assisting our clients and friends as they work to sell their properties in Orange County. Contact us and allow our team to serve you when you are ready to sell!

Seller’s Market: Ways to Sell Your Home For Top Dollar

Posted on | by Cuselleration

Shoot Me On My Best Side

You’ve heard it said, ‘You never get a second chance to make a good first impression.’ That’s why if you are selling your home during the winter months, it helps if you have photos of your home at its best. Have you taken any pictures of your home when the flowers are blooming and the grass is green? If so, be sure your trusted real estate agent has seen them, in order to incorporate them into the marketing of your property.

As to photos of your interior, be sure they don’t have holiday decorations in them, as they will have a longer marketing shelf life come mid-January.

Clutter Be Gone!

You’ve got to get rid of the unnecessary stuff! You’ll have to do it when you move anyway, so why wait? Getting rid of clutter can help potential buyers see the real space available in your home. Don’t skip this step once you have decided to sell. Some people hire home stagers to declutter, and get your furniture in the exactly the right spot to showcase the ‘bones’ of your home. Your potential buyers need to envision themselves in the space, and your darling family photos need to be tucked away for now. Our experienced team of real estate experts can help you figure out what needs to go, or be stored, in order to show your home at its best.
Now Where’s My Paintbrush?

Once the clutter is gone, your real estate agent can help you assess what needs to be fixed before putting your property on the market. Is there chipping paint? Cabinet doors that don’t close well? Stained carpet? All of these, and other things, underscore a home that is not well-cared for. So do your bank account a favor, and invest in a little elbow grease time and handyman time to give you a better outcome at closing time!

Selling Your Home When The Price is Right

One of the biggest mistakes home sellers make is pricing their home too high for the market. If it is out-of-bounds with the comparable home prices in the area, buyers will pass it up, meaning your home sits more days on the market. More days on the market mean less interest in the property, or low ball offers when they think you may be desperate. That’s why our team at The Kovacs Connection takes all the variables into consideration when discussing the price of your home. You want a good, fair price for your home, and we can help you get it!

Don’t Forget Curb Appeal in the Winter

If you’ve taken pictures of your home during the most beautiful times of the year, that’s great, and will be a bonus to people checking out the agency’s website listings. But don’t forget about curb appeal. If a buyer is interested in your home, he or she may drive past it soon. So be sure your property looks well taken care of. Shrubs need to be trimmed, any weeds pulled, if there are hearty flowering plants like pansies or ornamental kale to plant, they can bring a freshness and color to your entryway.

Illumination Can Be a Deal Maker

Remember, most people coming to see your home will see it after work, which in the winter time means coming at dusk or after dark. If your home’s exterior is dark it will be a ‘turn off’ for the potential buyer. Make sure your exterior lighting is inviting, and illuminates the walkways to make it easy for your buyers to approach the property ‘in its best light.’ You can buy solar-powered lights that you can strategically place next to the steps up to your home that is a luminescent ‘welcome mat’ to your property.

Go Get Some Coffee

Finally, your real estate team at The Kovacs Connection have honed their skills to showcase your property at its best. There is a tendency for some home sellers to stick around during showings. Don’t. It makes the potential buyer uncomfortable, as if they are interrupting you at home, and it can steer them away from giving your home the attention it deserves. So enjoy that cup of coffee and wait to hear what the potential buyers have to say!