November 24, 2017

Seller information: I received an offer on my property, now what?

 Congratulations! You got your first offer.  While every situation is different and there are exceptions to every rule, here are some recommendations and things I have learned about offers to purchase:

·         A quick offer does not mean your property is priced incorrectly. If you get an offer right away, it’s because you are lucky. A speedy sale is generally a combination of marketing and timing. Raising your property price and holding out for a higher offer rarely has successful results.

·         No offer is “insulting”. Real Estate is a business. Even though you may be emotionally attached to your property, that is not a factor in the buyers offer or the final sales price.  

Counter Every Offer If the offer is low, a seller should still counter it. In fact, I insist that my sellers counter every offer.  If a seller wants to counter at full price or even over full price to make a point (that the buyers offer is ridiculous) that is fine with me. The point of the counter is to keep all parties engaged.  Also, there are generally items other than the price that need to be addressed, so a counter gets those items taken care of right away.

·         The first buyer is the right buyer. More often than not, the first buyer is the right buyer, even if their first offer is not. 

·         The first offer, after counter offers and negotiations, is the right price.  A lot of times a seller exchanges counter offers with a buyer and in the end the seller doesn’t accept the buyer’s best and final offer. The property then sits on the market, price gets reduced, and the property ends up selling weeks later (sometimes months later) for less than that original negotiated price.

·         Offers are a balance of price and terms. An offer can be comprised in many ways.  A strong offer could be a cash offer that’s a bit lower, offset by short review periods and a quick closing. Another strong offer could be a higher one with the buyer getting financing with longer review periods and a distant closing date.  Of course, ideally every seller wants a high offer from a buyer paying cash with a quick closing, but that isn’t always the case. So make sure to take into consideration both the price and the terms when deciding about an offer.

As I mentioned, there are exceptions to every rule but, more often than not, I have found these tips and concepts are consistently true.

  Ready to sell? Contact Jamie today! Click here to email.

November 21, 2017

Sellers: Preparing to Move - Real Estate Blog

 Moving can be a daunting task but getting prepared early can help alleviate the stress.  I am speaking from experience as I used to move every 1-2 years until I landed on Kauai.

  Here are some hints and tips for Preparing to Move:

*Clear Your Clutter: Start early and get your belongings under control. If you don’t use it or wear it, then get rid of it.  I find it is easiest to do one room at a time and make sections or piles for “keep”, “sell”, “donate” “trash” and “pack now”.  Somehow the criteria for keeping changes as you get further into the cleaning out process and you can often circle back a couple days or a week later and be willing to donate or trash more belongings. I learned a long time ago that a thing is not the memory or the event, so if you aren’t attached to the “thing”, keep the memory and let it go!

*Get Things Organized: If you are organized when you pack it will be easier to unpack. Try to group things together by room or function. Make sure to set aside a box or two of the essentials that you will need to unpack when you first arrive at the new place.  I try to have a box of bedding and pillows so everyone can sleep the first night as well as a frying pan and big pot in case I need to make a meal (though take-out food works perfectly as well). I also keep a box handy with tools (hammer, screw driver, allen wrench) and electronic wires as those things become essential when both moving out and moving in.

*Purchase or Pick Up Packing Supplies: For me, the essentials are: boxes, packing tape, packing tape, packing tape dispenser (usually $20.00 or less and the best money you will spend, much easier than scissors or teeth for handling the tape), 2-4 thick sharpies, bubble wrap, packing paper, and labels. I also like to keep large black trash bags on hand ~ they’re great for trash, wrapping things that may leak, and packing up donations. There are great places to get free boxes ~ furniture stores, liquor stores, big box stores, but you can’t always count on the condition or size.  If using freebies, start collecting them long before packing day.  You can also collect newspapers instead of investing in packing paper and bubble wrap.

*Set aside what you will need: There are things you will need with you until the last minute and will also need first thing when you arrive in your new home (comfortable cloths, pajamas, toiletries). I find packing like I am going on week-long vacation usually does the trick and ensures you have the essentials.

*Plan How You Will Organize your Packing: I like to pack by room putting items in boxes based on where they go so I can easily unpack when I arrive. For the most part, that works pretty well. Though sometimes it is easier to pack items by category, all sheets in one box, towels in another, etc. I love to use my linens and towels as packing materials, like wrapping your DVR in a towel then putting it in a box ~ a bit of a money saver but can create extra laundry when you arrive at your destination.

*Tips for Easy Packing: Once you have your boxes ready to fill, decide what you are putting in it, gather the materials you will need (tape, sharpies, bubble wrap or paper) and start packing.  Finish each box before you move on for the greatest success.

*Label All of Your Boxes: This step is imperative if you want to be able to unpack with ease.  I mark every box with the room the items belong in so when I arrive at my destination, I can distribute the boxes with ease.  I also put a general list of contents on the outside in case I need to find something quickly in my new home (linens, toys, etc.). Make large up arrows for boxes that need to stay upright, mark boxes that are particularly heavy, and note fragile on the exterior top and sides for your glassware and other fragile items.

*When to Pack: There are things you use all the time and things you rarely use. Since everything must be packed to go, you can start packing long before your moving date. Pack up items you rarely use and clothes that are out of season. Set those boxes aside and out of the way. Again, make sure you label everything in case you need to retrieve something before you actually move.

*Plan for Pets (if applicable): Pets are delightful but generally not helpful when you are packing. See if you can get a pet sitter or pick a nice day for your pet to be outside. Additionally, don’t forget to plan how the pets will be travelling to your new home.

*Prep your kids (if applicable): Kids will see a move as an adventure or a nightmare, depending on how you present it to them.  Try to come up with a fun game or story to make the move easy for them.

Sell Some Things: Plan a Yard Sale or have a Virtual one on Facebook or Craigslist. This is a great way to get someone else to haul away usable items that you don’t want any more and cash in at the same time.  Plan it at least a week or two (if not more) before your move.  Make sure to have a plan for what to do with items that don’t sell. I like to have a truck on hand and pack everything up to donate right away.

*Arrange for movers or how to move (truck, friends, professionals): Start making plans and getting estimates right away.

*Schedule your Move: Schedule your move as soon as you have a closing date or moving date in mind. It’s easier to cancel or change plans than it is to schedule at the last minute. Don’t forget to purchase plane tickets (if needed), schedule child care, and any other services you need on moving day.

*Change of Address & Mail Forwarding: Make sure to fill out a change of Address Form and set up mail forwarding. Change your address on any bills you can in advance and the rest you can manage from your new home.

*Utilities: Schedule the cancellation or transfer of your utilities to the new buyers and set up utilities for your new home as well.

*Moving Day: Moving day will be much easier if you wear comfortable clothes, have a cooler full of drinks and have snacks. Keep your phone handy and push through. It’s never the easiest day, but it becomes a faint memory once you are settled into the new place.

Most of all enjoy! Moving can be incredibly stressful but also a fun adventure. Focus on the positive and it will be a breeze!

 

Thinking of Buying or Selling? Contact Jamie for more tips and tricks to get started! Click here to email.

November 17, 2017

Property Sellers: Preparing & Making Your Property Available for Showings

Your property is on the market for sale. Hopefully by now you have
cleaned out the clutter, edited and staged the rooms, priced your property
properly and mentally prepared for a sale.
Simple tips and tricks for maximizing the success for each and every
showing:
*Make your property available for showings with as little notice as
possible. Get in the habit of tidying up daily, preferably before you go to
bed so that a last-minute showing request doesn't mean you are running
around (or sneaking out of work) to prep your property.
*Double check that the property is in tip top showing condition.
Little things make a big difference. Make the bed, do the dishes, put down
the toilet seat cover, run the vacuum across the floors, wipe the toothpaste
out of the sink, take out the trash, pick up the yard, and empty the kitty
litter.
*You only get one chance to make a first impression, so focus on
touching all the senses of the potential buyers. You want your home to look
good, smell good, sound good ~ leave some Hawaiian music playing on the
radio, taste ~ put some treats out with some bottled water, and finally make
sure the floor is clean (in Hawaii, we remove our shoes before entering so
get the dirt and grit off the floor)
*Last, but not least, leave a key for the agent (unless they already
have one) as there is nothing worse than a buyer showing up and not being
able to get it.
Now you are ready! Prepared properties and successful showings lead to
offers, so get ready for a speedy sale!

November 16, 2017

Fundamental Truths for Pricing Your Property for a Speedy Sale

  There are some fundamental truths when it comes to pricing your property for sale. I should say that I am guilty of disregarding some of these when selling my personal properties, so I empathize, but the reality these truths can become the difference between selling your property quickly or not at all.

When setting your asking price, keep in mind:
  The most important factors to take into consideration when pricing your property are the current market, recent comparable sales, and the property’s condition. It also can be helpful to look at the market as though you are a buyer to get a sense of how your price will compare to other comparable listings.  Recent sales prices should carry a bit more weight than current listings when determining your asking price.
  What you paid for the property is not relevant when it comes to setting an asking price. A property’s value is based on a specific time, date, year, market, etc.  The reality is you may be able to sell your property for significantly more or significantly less depending on the market when you go to sell.
  What you own on your loan has no bearing on the value of your property. It may affect your ability to sell if the market doesn’t support the asking price or final sales price needed to pay off the loan.  If you must sell and the market will not provide for a sales price that will cover the costs of sale and your mortgage payoff, there are other options, like bringing money to closing or possibly negotiating a short sale with the bank.
  An appraisal of your property represents the value of your property on that specific day in that specific market.  Your property’s value could change in a day, week, month, year or years, depending on the temperament of the market. An appraisal also does not guarantee a buyer will pay that much for the property, it means the comparable sales and current market reflect that value.
  An assessment (by a town or county) is not an appraisal. While it is generally a licensed appraiser that is calculating the assessment, the values are generally derived with “broad strokes” in that the values based on surrounding property sales and not specific to your property and its attributes.  Additionally, assessed values are often 6 months to a year old when they are applied. There are exceptions, but generally an assessed value is not in line with an appraised value. *When I first got my real estate license in Hawaii, the market was rising so fast that you could calculate an asking price by doubling the assessed value for most properties and properties were selling at or over asking in many cases.
  Your upgrades do not add a value equal to what you spent on them (this one is often painful for sellers). In fact, some upgrades add value but some can actually detract.  Basic upgrades to kitchens, bathrooms, flooring, and “lipstick on a pig” aka new carpeting and paint, generally add value.  But, upgrades and painting for your specific taste may not fit the general public.  Specific taste upgrades and updating are great when you are living in the property, because you love them and they make you happy. A hot pink room for your daughter, a purple accent wall in the living room, faux painting, and other similar items can distract a buyer and prevent an offer.  Best to stick with generic colors, patterns, and materials if you would like to reap the maximum value.

      I know this information can be a lot to take in, so that’s all for today’s Truths.

       Follow me on Facebook and check out my BLOG for additional Truths and Tips for a Speedy Sale. www.FollowJamie.com

November 15, 2017

Prepare Your Property for Sale

  So you have decided to sell. That’s a great first step! Now that you are ready, it’s time to get your property ready. There are numerous easy ways to prepare your property for sale. Most things are free but there are a few inexpensive ways to spruce the property up and increase the value as well.

                Step 1: Clear Out the Clutter! We have collections of stuff but there are always things you don’t need or won’t be taking with you when you move. The best time to sort through your stuff is before you put the property on the market. Some owners have rooms and closets and garages filled to the brim, others may only have a junk drawer or two. Clutter can detract from your property as well as impede its sale.  Whether you have a ton to clean out or a little, start now.  A great way to organize and clean out is to make piles or areas… “keep”, “toss”, and “donate”.  Do one thing at a time so you don’t create overwhelming chaos.

                Step 2: Get organized! The best way to present your property, rooms, cabinets, and closets is to have them organized.  Overstuffed closets and chaos detract from how buyers see your property. Tidy up your closets. Put things you don’t use frequently in bins or boxes or, better yet, pack them up for the impending move. A messy or disorganized home detracts from the function and beauty of your property attributes.

                Step 3: Clean it UP! Super clean your home… pull out the couch to vacuum behind it, clean out under the bed, scrub your floors, wipe down your cabinets.  If you do a detailed clean right before you list your property it will be easier to spruce up for a showing. Before each showing, tidy up, vacuum, make the beds, get the dishes out of the sink and put the toilet seat covers down.  You only get one chance to make a first impression.

                Step 4: Spruce it Up! You can go big or small with this one. A new welcome mat, fresh pillows, a new shower curtain, attractive bedding, and a coat of paint can make a world of difference. Most of these items are fairly inexpensive and present your property in the best light. When you paint, choose calm, quite colors like white, beige, soft yellow, and sage. Most buyers these days don’t want to fix up a home, they want to move right in. Painting, more often than not, will help your property sell more quickly and for more money.

                Step 5: Edit, Prep It and Stage it! Most people think staging means spending money and while it can, it doesn’t have to. Staging can be as simple as editing and prepping each room. To edit, stand where a buyer would stand when entering your property and also in the entry to each room, look for things that detract or stand out.  Is there a piece of furniture that’s too big in an odd place? Move it somewhere else more flattering. Are there too many decorations over the fireplace? Pare it down. Do you have lots of bowls, jugs and miscellaneous items on top of the countertops or cabinets? Whenever possible, put things in cabinets or drawers. Empty space is more attractive to a buyer than a filled one. Editing allows buyers to imagine their own belongings in your house. Keep a few things out on countertops, shelves, and display areas a try to group the items in threes, for some reason this is always more attractive. [I could actually write an entire blog on the editing, prepping, and staging, so watch for that soon.]

                Step 6: Sell it and Celebrate! Once you have your home looking like a house for sale, put it on the market and watch it sell!

              I am happy to assist you as you get started and I truly hope these ideas and suggestions help you get ready to sell your property. Click here to email Jamie for more information - get it ready to sell today!

 

November 09, 2017

Kauai, Hawaii Island Information and Fun Facts

  Getting to know the Island of Kauai…  

  Kauai is known as the "The Garden Isle". The island is the smallest, oldest and northernmost of the four major islandsThe island is approximately 25 miles wide and 33 miles long encompassing 552 sq. miles.

  Much of the island is tranquil, green, lush. As with most of the islands, Kauai also offers numerous climates from the arid west side to the tropical north shores.

  Kauai is known for its magnificent scenery and lush vegetation, beautiful waterfalls, the spectacular Waimea Canyon, the great "hidden" valley of Kalalau, colorful tropical plants and flowers.

  It has been said that the island boasts more beach per mile than any of the other major islands. And oh what amazing beaches they are! www.Facebook.com/KauaiBeaches You can almost drive down any Makai side road and land at sand (or a path to the sand).

  The highest peak on the island is Kawaikini at 5,243 feet and the second highest, Mount Waialeake at 1,569 sq ft is known as one of the wettest spots on earth! This creates the most amazing waterfalls!

  This treasured island is also the backdrop for television shows like Fantasy Island, & Gilligan’s Island plus numerous Hollywood films like Pirates of the Caribbean, Jurassic Park, The Descendants, Honeymoon in Vegas, and oldies but goodies like South Pacific and the Thorn Birds. http://filmkauai.com/movies-made-on-kauai/

  Kauai is by far my favorite island in the Hawaiian chain.

  Ready to buy real estate on Kauai? Start looking at Kauai Real Estate at www.SearchKauaiProperty.com

 

November 08, 2017

Kapaa Condos - Kawaihau Sports Villas

  It's a great time to buy a condo on Kauai!

  Check out the Kawaihau Sports Villas complex – two and three bedroom units – spacious open floor plans, onsite swimming pool, quick drive to the beach, close to the bike/walk path, and a short distance to shopping, restaurants, and all that Kapaa has to offer.

  Quick summary of MLS data for current listings, escrows, and sales in the past year:

  • Two active listings of 3 bedroom units: A101 at $248,000 and L201 at $279,000
  • One unit in Escrow a 3 bedroom unit, G-101, asking price was $289,000 (final sales price isn't released until it closes)
  • Five sales in the past year: Two 2 bedroom units at $229,000 and $239,000; Three 3 bedroom units at $259,000, $247,000 and $265,000
  • Click here to see the information. Links are valid for only 60 days.

  Thinking of buying or selling? Contact Jamie today! Click here to email.

  If you have any questions or would like additional information, please do not hesitate to call or email me.

Fantastic photo courtesy of: www.JulieAndrewsPhotography.com

November 02, 2017

Kauai Real Estate Stats Oct 2017

  October 2017 stats for the Kauai Real Estate Market are in!

  Median Sales prices are all up! For homes, condos, and land

   New Active Listings are down from last year.

  Volume is up for all three property types as well.

  With a low number of listings, it is a great time to sell!

  Thinking of buying or selling? Contact Jamie today! Click here to email.

   Information provided as a courtesy by Old Republic