"You want to list my Wellesley MA Home for what?!!"

 Have you ever heard that exclamation before?  I'm sure you have at some point, and unfortunately it does happen.  But why does it happen?  The answer is simple, but more difficult to accept.  This is why it is so important that you hire an experienced Wellesley real estate agent to advise & guide you in the selling of your Wellesley home.  When you list your  home For Sale, your agent will know the market conditions and how to correctly identify the "listing price" for your home.  He or she will not have the emotional attachment to your home that you do, and  and therefore will be able to be an unbiased judge of the homes value and worth in today's housing market.  While you may not like the price you are hearing, have faith in the person you chose to represent you & your home.  When you overprice your home it will be dangerous for several reasons, but the biggest (and simplest) is...IT WON'T SELL!

In addition to not selling when you've overpriced it, you've really stacked the deck against you from day one. Selling your home can be an emotional roller coaster.  What your home means to you and how you imagine it, needs to come to terms with the real world and the current real estate market.....and that is no more apparent than in pricing.   Everything you are doing at this point is looking at the home to "list" and sell.  That may seem apparent, but it's much harder than it looks. You must take the emotional strings out of the way. You may cherish the color, flooring, or some other "prized possession", but none of that matters, it's simply black and white.  You are looking at it objectively just to list and sell.                                                                                                                                                           

Just "because you paid a certain amount for your home", or because "it means so much to you", is a sure fire way to stall the successful sale of your property.  Buyers also aren't going to care if you "need to get a certain amount for your home in order to buy your new home".  All the new buyer cares about is paying a fair market value for your home and that there aren't any hidden surprises that are going to come up later in the home inspections. Nothing will blow up in your face quicker than an OVERPRICED PROPERTY!  

You are free to list your home for any price you choose. However, any exceptional real estate agent will tell you that overpricing a home can lead to serious problems. Some of these include:

1. *Scare off Buyers- You don't want to miss out on an ideal buyer by pricing yourself out of their category. Rely on the expertise of your Real Estate agent and their knowledge of the local market so that you can maximize your exposure on the market and with buyers while still getting the best price for your home.
2. * Too much Time on The Market- When a home is priced too high it ends up spending far too much time on the market.  If a buyer decides to put an offer in on the property that offer takes into consideration the amount of time the property has been sitting idle on the market.  Therefore it has a negative effect on the property.
3. * Home Price Appraisal Issues- If you have overpriced your home, and a buyer has agreed to pay the "overpriced" price, you still have to pass the Home Appraisal. If the Home Appraiser comes back with a Market Value that is noticeably lower than the price the buyer is offering, the bank is likely to deny the buyer a mortgage.  Leaving you looking for new buyers.

Best advice....Stay realistic on the home pricing.  Seek out a great real estate agent and listen to his or her advice for pricing your home.  Many good agents will advise you to list a little lower and encourage a bidding war, than to risk all of the problems that would come with listing too high.  Stay realistic with your pricing and you will achieve your ultimate goal of selling your home;  in the shortest amount of time AND with the best possible price.

It's finally spring and you're ready to find the right Wellesley MA area home for sale. We've put together some tips to help make your Wellesley MA home buying process go smoothly.

1. Find the Right Real Estate Professional. This is such an important step and will truly make the difference in the home you buy, your stress level and the money you ultimately spend.

2. Make sure you are Pre-Approved for a Mortgage. You've heard it said before, but it's true, you need to know how much you can afford. Unless you are buying in cash you'll need a financing source and you'll need to know how much that source is willing to finance.

3. Create a 'Must Have" List. This is your list of non-negotiable's and allows your agent to select only listings that meet the qualifications of this list, so that you're not looking at every home on the market and wasting your valuable time.

 4. Open yourself up to Suggestions. Share your must have list with your Real Estate Agent. They will be able to make suggestions that you may not have considered about the style or type of home/neighborhood you are looking at and could ultimately change your requirements or amenities list.

5. Make sure to check out the Neighborhood. Now that you've found your home, walk the neighborhood at different times of the day, and even at night. Talk to neighbors to find out about the people, what they like, dislike, recommendations etc. Make sure it would be a good fit for you and your family.

6. The Home Needs to be Inspected! You'll need to make sure that YOU walk through the home and do a total checklist of your own. But you aren't a professional inspector so make sure you hire one to go through the home, once that has been done make sure you follow through on all of their recommendations.

7. Submitting a Reasonable Offer. This is another reason why you need to work with a local Real Estate agent. Understanding the local housing market, the inventory of homes, home values and if a home may get multiple bids is all information that goes into the offer YOU will make.                                                                                                                                                        

8. Understand the Process & the Paperwork. Your agent should have gone through all of this with you in the beginning of your search, but don't hesitate to ask questions along the way. This can be an overwhelming process at times. Once you have found a home you will be advised to seek an Attorney to handle the legal aspects of the sale of the home.

9. Stick to Your Pre-determined Price. It's always tough to have your heart set on a home and lose it in a bidding war, but it is much worse to go above what you can afford! It is better to find a second home that you like "almost as much" as the first so that you have something to lean back on if the situation arises.                                                                                  

10. Don't expect the Sellers to make too many Improvements.Things like worn carpeting and countertops are figured into the sales price of the home upfront, so trying to get the homeowner to make more adjustments at the end can be difficult. Rely on your agent to know what is permissible and what isn't.

 For more Wellesley MA home buying tips check out our website at www.teamlynchrealestate.com. We've lived and worked in the Wellesley MA  area for 20+ years and would be happy to give you a tour of our town and all the great homes for sale. Give us a call any time!

We've all heard the old adage....."walk a mile in someone else's shoes", but how can that apply to getting your home ready to put on the Wellesley & Metrowest Boston Housing market and showing it to potential buyers?  Easily....you need to start thinking as a "Home Buyer", and not as a Home Seller.  Here are a few tips to use before welcoming potential Buyers to your home:

1. Have a Friend Pre-Listing Party. Yes, that's right, invite a few of your trusted friends over, crack open a bottle of wine and go room to room with a notepad.  Have them objectively look at each room and give suggestions as to what they would change, or would be a red flag, if they were to seriously look at your home as a potential buyer.                                                                   

2.  Next...Consult a Great Real Estate Agent!  Run your list of fixes, the ones you have accumulated in your your pre-listing party,  by your agent and find out which ones are worth the fix for the money, or not. Your agent will also go over your Homes Value and develop a personalized marketing plan with you.

3. De-Clutter!  I know, we've said this over and over again.  But it bears repeating because it's so important.  Let's take a closet as an example:  Taking 1/2 of your clothing off of a closet rack and shelves, then neatly reorganize what is left. It will make your closet look much larger.  Another area....extra furniture.  Extra furniture usually get's shoved to the corners of a room.  Instead, rent a storage unit and take out a large majority of the furniture so that you can stage each room to take advantage of the size, space and nuances of that room.  

4. Think Neutral.  Now, We're like everyone else, We love pops of color throughout the home and  think a home feels a lot warmer and cozier with color.  But if you're putting your home on the market, you need to go neutral. It is hard for a potential buyer to envision themselves in a home that has "you" written all over it.  Neutral colors paint the picture of a blank canvas which gives your potential buyer the feeling that they can create their own painting or oasis of a home.

5. Clean out your garage.  We are all guilty of using the garage for storage, but trust me, your buyer wants to know that their vehicles are going to be able to fit in the garage.  Again, even if you need to rent a storage unit, get out all those boxes, and seasonal supplies that are not in use.  Make it clean and ready for vehicles.

6. Make sure Hardwood Floors are gleaming!  People in general love hardwood floors, but nothing is worse than looking forward to seeing a home with hardwood floors and finding a home with dull, scratched hardwood....... that you know you'll have to spend time and money to refinish!   A simple soapy wash followed by a rejuvenating floor polish will do wonders to make your hardwood floors look like new....and only cost around $50!

7. Restore your natural stone, tile and grout. If your bathrooms and kitchen tiles have lost their luster you may want to look into getting them refreshed.  Professional restoration services are available in most cities and are relatively cheap compared to a complete renovation, and can make your kitchens and bathrooms look new again. Well worth the money involved since these two rooms are the top two rooms of importance in a home search.

Local home improvement stores have trained personnel and many classes available to train you in many of the techniques to restore what you have in place in your homes today versus having to do total renovations.  Utilize their expertise to help make  the preparation for your selling process go smoothly and quickly.

It's spring and you've always been told that this is the perfect time to put your Wellesley or Metrowest home on the market. That's TRUE, but what else should you focus on to insure that your home sells quickly; at the highest possible price? Here are a few things to consider when you're looking objectively at your Metrowest Home:

You know you have an incredible house that you've put your loving touch into, but what else can you let potential Buyer's know?

 1. Are you living in an area with spectacular views of wooded lands, water, historical significance?

 2. What is your neighborhood like? Is it extra friendly where neighbor helps neighbor when someone's in need?

 3. Your local schools....what are they like, can you highlight something specific with the teachers, teaching philosophy, awards?

 4. Do you have outdoor living space? Great patio or deck, outside stove for cooking summer meals, plenty of space for entertaining?

5. Is your yard exceptionally large or beautifully landscaped?

6. Do you have a corner lot?

 7. Have you recently put on a new roof, siding, shingles, windows?

Then look inside your home and do the same.

 1. Do you have a fireplace and hearth that is different than many they may see in other homes?

 2. What about your kitchen, the heart of your home? Granite or Marble Countertops? Designed by a Home Interior Professional? Center island with vegetable sink?

 3. Is your home friendly to the environment? Have you used energy efficient windows & doors, do you have solar panels, is the flooring bamboo or cork?

 4. What about storage space, mud rooms, bonus rooms?

 5. Are there beautiful hardwood floors under your carpets?

 The graph above shows the percentage of home buyers that felt these "Hidden Gems" were worth every penny they cost in the overall sales price of a home.

 These are all things that you want to highlight about your home, that shows the buyer the difference and special "gems" in your home versus other ones they may look at... and why your home is the only one they'll want to buy. At Team Lynch Real Estate, we look at all these special selling points with you to develop a marketing strategy that optimizes these features and in turn highlights them for potential buyers.

 If you plan to put your Wellesley or Metrowest home on the market  this spring, NOW IS THE TIME. Give us a call and we'll be happy to come to your home and evaluate all these points with you, and share up to date market conditions here in Wellesley & Metrowest Boston. Buying & Selling homes in the Metrowest area is what we do best! We've lived her our entire lives, and participate in many community projects and events. We have also received the many awards this past year including International President's Elite, joining the top 1% of sales associates both nationally & Internationally, along with the NAR Green Designation. That means a team of Metrowest Community / Real Estate Experts', with exceptional local knowledge, great technology and the most current real estate information, will give your home the exposure and fast sale you deserve.

Hosting a successful Open House isn't  rocket science...but there are some tips I can share that will make it a success!

1  Advertise....a lot!  You want everyone to know, so newspapers, flyers and definitely online!

2. Put out LOTS of signage.  This may sound like a given, but it's so important.  Signs should go all over, and not just in your own neighborhood.

3. Invite your neighbors. Yes, you heard that right..and they want to come anyway!

4. Sign-in Sheet. This will allow you to follow up with anyone that came through, and follow-up is key!

5. Give a Take-away.  Make sure you have a flyer with photos and all the pertinent information.

6. Set the time for the Open.  Since most people expect open houses to be on Sunday afternoon, take advantage of that fact and maximize your success.

7. Food & Water.  Although these are not necessary, the smell of fresh baked cookies always make people feel like they're at "home".  Water is necessary because many people will have been out all afternoon.

8. Lighting. You need to make sure your home looks light and bright. Open blinds, turn on lights in darker rooms and play up the special points of your home.

9. Be Prepared.  Make sure you are organized in all aspects and you start on time! You should also check that you have toilet paper on the rolls just in case someone needs to use your bathroom.

10. Have a bright and cheery disposition. If you love your home it shows...so be genuinely enthusiastic so each person who visits feels the same.

This week I'm going to tackle the age old question.....should I rent my home out, if it doesn't sell?  A recent study did show that 39% of sellers prefer to rent out their last residence than sell it when purchasing a new home. With many homeowners refinancing at a low rate, and the housing market struggling with low inventory, the amount you could charge for rentals has gone up. 

If you are a residential real estate investor, than this tactic makes sense.  However, if you really don't want to become a landlord and are only looking at it as a way to purchase your new home, while covering the mortgage on the original home...then you need to ask yourself these questions:

 1.)  How will you respond if your tenant says they can't afford to pay the rent this month because of more pressing obligations? (This happens most often during holiday season and back-to-school time when families with children have extra expenses).

2.) Because of the economy, many homeowners can no longer make their mortgage payment. What percent of tenants do you think can no longer afford to pay their rent?

3.) Have you interviewed a few experienced eviction attorneys in case a challenge does arise?

4.) Have you talked to your insurance company about a possible increase in premiums as liability is greater in a non-owner occupied home?

5.) Will you allow pets? Cats? Dogs? How big a dog?

6.) How will you actually collect the rent? By mail? In person?

7.) Repairs are part of being a landlord. Who will take tenant calls when necessary repairs arise?

8.) Do you have a list of crafts people readily available to handle these repairs?

9.) How often will you do a physical inspection of the property?

10.) Will you alert your current neighbors that you are renting the house?

Once you have answered these questions, you will be in a good position to decide what is best for you and your family.  

(Information courtesy of KCMBLOG)

This winter has been especially tough for the greater Boston area. This has been one of the coldest winters in the past two decades, making it difficult to get out an enjoy the Wellesley & the Metrowest area and the great outdoor activities in neighboring states.

I decided to change that and take my family on their first ski trip...to Sunday River.  My children are young, and seeing them bravely put on their ski's and slowly go down the hill was a moment I had to capture on video.  Their faces and body movements really tell the story of their first ski trip, and both my wife and I proudly watched as they would tenaciously keep trying to master the skill.

Too many times we get bogged down with our jobs and other things that demand so much of our time, but don't let that happen.  Your job will still receive your 100% effort without working 24 hours a day and the other commitments can wait.  Our children grow up too fast, not to make these wonderful memories with them.

I hope you all have a chance to enjoy what's left of the winter weather and make memories of your own.