Will These Home Improvements Improve Your Home’s Value?

There are certain home improvements that won’t add much, if any, value to your home. Here are four of them.

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Today we’re beginning a two-part series that details seven things that do not increase the value of your home, whether you’re planning to sell soon or down the road. Here are the first few:

1. Extensive professional landscaping. If you go over the top with landscaping, you will typically not get a full return on your investment when you sell. A good landscaping update will give you more curb appeal and help your home sell faster when buyers are comparison shopping. However, it doesn’t necessarily increase its value.

2. Upgrading electrical or plumbing systems in an older home. Just like a car would, an older home needs maintenance. It’s an integral part of protecting your property. Make no mistake that if these are things your home needs, you should do them in order to maintain its current value. However, don’t expect the home’s value to increase because of them.

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Stay tuned for part two, which will be coming in a few weeks.

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3. New roof, gutters, sprinklers, or HVAC unit. These are also maintenance items like the plumbing and electrical systems. It will maintain the home’s value and buyers appreciate a home that is updated and well-maintained.

4. Swimming pools or hot tubs. I get questions about these from homeowners all the time. The truth is that appraisers won’t give you very much credit for it. If you want a pool and want to enjoy it, you should go for it. If it’s well-kept and maintained over the years, it can sell faster and attract a higher offer. However, it won’t increase the value by much.

Stay tuned for part two of the series when I will discuss the final three home improvements that do not provide value to your home. If you have any questions for me in the meantime about any of these items or about anything else related to real estate, give us a call or send us an email. We look forward to hearing from you soon.

How Overpricing Could Cost You Offers

How can you be sure you’re pricing your home correctly?
There are four key items you should consider. 

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Some of the questions I most often receive are about sale prices.

Specifically, people tend to wonder if and when they should raise their sale price. The truth is, it depends.

For a listing in an average price point, 400 views online will typically translate to one buyer physically coming through your door. If this isn’t the case, there may be an issue with the listing’s price.

Also, if no offer has been placed within eight to 10 showings, this could also point to a potential pricing problem.

Ultimately, there are four key areas we should focus on. Each of the 181 steps in our full marketing plan revolves around these things.

The first significant factor is location. The better the location, the more valuable the property. Condition, too, is critical. Buyer’s will always pay more for a well-tended home.

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In today’s seller’s market, there’s no such thing as under-pricing.

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Of course, these first two items can only go so far without our third point: marketing. Today, there are many ways to market a home. Excellent marketing will be essential to attracting the most buyers and the most offers possible.

Once you have generated interest, it all comes down to price. If a home is overpriced, even by just 5%, it may not sell.

If each of these four things are up-to-par, your home should attract at least one offer after eight to 10 showings or after it has had 400 views online.

When a listing is priced just below or right at the “sweet spot” in the market, it will likely receive multiple offers. In fact, in today’s seller’s market there’s no such thing as under-pricing. With the amount of competition between buyers, buyer demand will drive up the price without you having to overprice your listing in the first place.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you.

No-Nos to Avoid During Your Home Sale: Part 2

Today I’m going over part two of “Home Sale No-Nos.” I’ll explain what the final three things you should avoid are when selling your home.

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Today I’m back with part two of “Home Sale No-Nos.” Last time, we went over the first four things that could sink your home sale, and today we’ll finish up with the final three:

5. Don’t follow buyers around your home. In fact, during showings it’s best to make yourself scarce. Give the buyer at least an hour-long window to make sure they have plenty of time to get there and view the home.

6. Don’t refuse to negotiate. Even if you and a buyer agree on a price, an issue with the home inspection, or a disagreement on the move-in date might come up, among other things. The more flexible you are, the smoother the road to closing will be.

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Your inability to negotiate could spook buyers away.

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7. Don’t ignore your agent’s request to fix up or clean your home. Staged and updated houses sell for more money. However, you don’t need to break the bank. A good deep cleaning and some decluttering will go a long way in making your home shine. The best thing to do is trust your agent’s pre-listing checklist to see exactly what needs to be done to net you the most money.

If you have any more questions or if you’d like me to answer one of your questions in a video, don’t hesitate to give me a call or send me an email. I look forward to hearing from you!

Targeting Millennial Home Buyers

Attracting millennial home buyers means knowing what
they want in a home—like environmentally friendly features—and
knowing where to place your advertising.

Want to sell your Kansas City Home? Get a home value report here 

Want to buy a Kansas City home? Search all homes for sale here

How can you reach millennial home buyers?

You can start by finding your home’s best angle. While baby boomers might want a two-car garage, a large kitchen, and an extra storage space, millennials have their own wish list. According to the National Association of Realtors, millennials are looking for something way different than their parents are. Some of the main things they want are single-story homes, open floor plans (or split floor plans for the square footage they offer), media rooms, and hardwood or tile floors.

The neighborhood they live in matters just as much or more than the house they buy, and they’re looking to meet a specific need. This need can be living in an area where a lot of other families their age live, living close to where they work, or living close to a shopping center.

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Millennials want modern
 and green-friendly homes.

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If your home has environmentally friendly features, don’t hesitate to showcase them. It’s no secret that this generation is environmentally conscious, so they’re going to be looking for a home that has green-friendly features.

Modern homes are also popular with the millennials. Your house doesn’t have to be brand new or designed by a minimalist architect, but some simple staging before an open house could be all you need to capture this desire and bring in an offer.

As far as reaching out goes, you can target online advertising to find younger home buyers. You’ll have to place your ads where they will be seen, and that’s mostly online. Sites like Facebook are where they will be looking at neighborhoods.

If you have any questions or topics you’d like us to discuss, please text us or give us a phone call. We look forward to hearing from you!

How We Helped Heather Quickly Sell Her Home

"Glennon Real Estate Experts sold our house quickly after it had been on the market 6 months with another agent. They had very good results, and knew exactly what to expect. Both Chip, Amanda, and Will knew the procedures extensively. If we called, they called us back. If we had questions, they either answered them or found them out within a 24 hour time period. They went above and beyond what was expected!" - Heather Cummings, Home Seller

Save Yourself Money & Unnecessary Stress by Pricing Your Home Correctly

Looking to buy or sell a home in Kansas City? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at 1-800-686-5088 for a FREE home buying or selling consultation to answer any of your real estate questions. 
 

The Importance of Pricing Your Kansas City Home Correctly

 

A lot of clients have been asking me about how important it is to price a home correctly. Out of all the variables that we encounter when selling a home, pricing has to be just about the most important part of selling a home.

I have noticed that there are 4 main variables that are encountered when you go to price your home. This includes the location of your property, the condition that it is in, how it is marketed, and pricing. Out of these 4 things, you have 3 of them in your control as a seller. As a real estate agent, I can only control how well the home is marketed and give you advice on the other three.

One way I can explain the importance of pricing a home correctly is by using an analogy. Let's say you're in the market to buy a 1963 Corvette. You know that most Corvettes are worth $100K-$115K, and the best one in the universe is worth $200K. Let's say that someone across Kansas City wants to sell one for $150,000. Most potential buyers would scratch their heads and assume that the market will work its magic and bring this price down.

It's the same thing with our housing market here in Kansas City. If you price your home in the sweet spot, you should be in great shape to sell. However, you will have to figure out what that sweet spot is for your type of property, and then get within 5-7% of that in your home price.

Buyers today are more savvy than ever and they will know immediately if your home is priced inappropriately. They spend countless hours on the internet looking at homes, and if they see yours and it is overpriced, then they will skip over it and keep searching.

We want to make sure that you are getting the right information and using it to price your home correctly. The best price will attract buyers and make them compete over your property, where market competition over your home will then increase the sale price for your property. You have to entice buyers enough so that they are willing to spend a little extra on your home because they see such a great value in it. Also, when your home is priced correctly it will sell much quicker, which will save you a lot of money.

Hopefully this information has been helpful to you. If you are in the market to sell your home in Kansas City or Kearney, then please contact me and I can give you a free market analysis to help determine the best price for your home.

Give me a call at 1-800-686-5088 or shoot me an email at Chip@ChipGlennon.com