It’s time for the latest update from our Salem area real estate market. Click here for a full home searchClick here for a free home value reportRight now, the Salem area real estate market favors sellers. Multiple offer situations are increasingly common and many sellers are able to net more than their original list price. Also, housing inventory is very tight at the moment, which forces prices upwards. If you’ve even so much as thought about selling your home this year, our current market presents a great time to do so.         If you’ve thought about selling your home this year, now is a great time to do so.Along with the rise in prices, affordability has also been impacted by rising rates. We can expect more homes to hit the market as the year progresses and sellers realize what a fantastic opportunity they have to earn top dollar. If you have any other questions, would like more information, or want help buying or selling a home, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Josh Heneveld with Premium NW Real Estate Team Podcast

The Latest From the Salem Area Market

If you’re going to sell your home by yourself, without an agent, here are some tips and advice on how to be successful. Click here for a full home searchClick here for a free home value reportWhen it comes time to sell a home, many people want to skip the process of hiring a real estate agent to help them with the process. If you want to sell your home on your own (listed as For Sale By Owner, or FSBO), here are some tips you should consider if you want to get top dollar for your property. First, make sure your home is clean, organized, and move-in ready. The condition of the home is one of the primary things that will ensure its sale. When we list a home on the MLS, we make it photo-ready by staging it. Since you won’t be working with an agent, you need to make sure that your home is properly prepared in this way. Next, make sure your photos present your home in the best light. Use lighting and angles to your advantage, because the photos you use will be the first exposure most buyers will get to your home. Buyers today most often begin their search online. And once you put the sign in your yard that says “For Sale By Owner,” you need to be ready for a flood of inquiries from agents seeking to represent you: FSBO signs draw in determined agents like a magnet.        Only 10% of those who list their homes as FSBO make it through the whole process without an agent.Additionally, you should be prepare to hear from a number of people who do have a real estate agent representing them. Buyers will ask you to pay partial fee to their agents so the agent can represent them; but do you have anyone representing you? Their agent is not there to represent your interests, only their buyer’s. Similarly, FSBO sellers need to make sure that all the proper paperwork is done. Make sure that you protect yourself from legal liability should something go awry. On the Premium Northwest Real Estate Team, we have tools and processes in place to make sure that you’re successful when you put your home on the market. We will work hard for you by creating a Facebook ad for your listing, holding open houses, and ensuring that your listing will end up on multiple MLS’s. This way, you’ll get maximum exposure for both agents representing buyers and the buyers themselves.I have a lot of respect for people who want to sell their home on their own. However, it’s important to note that the National Association of Realtors have stated that only 10% of those who list their homes as FSBO make it through the whole process without an agent.If you’d like, try to sell on your own. If you do end up needing a powerful agent who can help you win in today’s market, please feel free to reach out to us. We'd be happy to help you!

Tips and Advice For FSBO Sellers

When it comes to listing your home, presentation is important. Today I’ve got three tips on how best to present your home. Click here for a full home searchClick here for a free home value report    When preparing to list your home for sale, what’s the proper way to present your home? Here at the Premium Northwest team, we do things a little differently and we recommend you do the same. The first thing we recommend is to start by having a staging consultation. During this consultation, a professional will look through your home and make recommendations for rearranging, decluttering, and more. The goal is to make your home feel spacious and well-decorated when buyers walk through the door.   Your home doesn’t have to be perfect, but it should be clean and free of clutter.Professional photography is also important to the presentation of your home when it’s on the market. Quality photographs of your home that accurately represent its appearance will ensure that buyers love the property when they visit it in person as much as they did online. Finally, make sure your home is “high and tight.” High and tight means you should be following a “less is more” approach to your home. Your home doesn’t have to be perfect, but it should be clean and free of clutter. 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 soon.

3 Tips for Improving Your Listing's Presentation

If you use a local real estate agent to help you price your property, it should sell quickly and for top dollar. Click here for a full home searchClick here for a free home value reportWhen pricing your home for the market, there are several things you must take into consideration to make sure it sells quickly and for top dollar. Here are some answers to a few common questions I get from past, present, and future clients to help you get a sense of how pricing is determined and what influences it. If I make improvements or do renovations to my home, will I be able to get those renovation costs back when I sell my home? The answer can vary. It’s important to consult with a real estate agent or a contractor to understand which renovations bring the biggest return. As a general rule of them, we find that kitchen and bathroom renovations bring the best return. If I spend $5,000 on kitchen countertops or bathroom countertops, will I be able to sell my home for an additional $5,000 or $7,000? Again, the answer varies. Consulting with a real estate professional is always a good idea to ensure that the improvements you make will generate maximum dollar value.       If you use a local real estate agent to help you price your property, it should sell quickly and for top dollar.How do you determine the list price for homes?We use several different methods to calculate your home’s list price. The first is comparable sales, which are previously sold homes that are similar to yours and that have sold within the same area (preferably within a one-mile radius). To be considered similar to your home, these other homes need to be built in a similar year, have a similar make, and feature the same level of improvements. The second method we use to determine a home’s list price is to look at its price per square foot (or price per square acre if you have an acreage). Sometimes, we have to blend together components of each method to determine the best listing price for your home. If you use a local real estate agent to help you price your property, it should sell quickly and for top dollar if you choose the right price. If you choose the wrong price, you’ll find yourself frustrated at your agent and yourself for not spending the time and energy to choose the right price. A great way to find out what your home is worth is by having an agent do an in-home consultation 12 months before you plan on selling. This is a service we offer, so if you’re interested in trying it or you have any other questions about pricing your home, don’t hesitate to reach out to us. We’d be glad to help.

Sell Your Home Quickly and for Top Dollar, Part 1: Find the Right List Price

 By now, most people have heard of the Zillow Zestimate. But, how accurate is this feature in determining the value of your home? Click here for a full home searchClick here for a free home value reportYou've probably heard of the popular real estate website, Zillow. However, can you really trust the information that you find there? One of the most popular tools on Zillow’s website is the Zestimate feature, which assigns values to properties. Many of my clients often come to me wondering how, exactly, Zillow comes up with these values. The truth is both simple and complex. Zillow’s value varies a lot because their Zestimate tool uses a mathematical algorithm to determine value. However, the Zestimate takes into account too much erroneous information. On top of that, the tool is also unable to take any improvements or upgrades you’ve made on your home into consideration. So, just how far is Zillow off? This depends on your area, the number of homes near you, and the conditions of those homes. No matter the case, Zillow’s Zestimate is usually way too low or way too high.     An accurate home evaluation is incredibly important.In order to price a home correctly, you must know the condition of the home you’re pricing, the conditions of other homes that have sold, and whether the market is in an up or a down cycle. All of these nuanced factors will have an influence on price. Zillow simply cannot take them into account.An accurate home evaluation is incredibly important. Certain things about your home can be changed, and certain things can’t. We can’t change your home's location, but we can change the way it is marketed and priced.Pricing your home correctly from the start will make a massive impact on the success of your listing.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 soon.

Don't Trust the Value That Zillow Gives Your Home

Let’s take a look at what Salem’s current real estate market looks like and how you can make the most of it.  Click here for a full home searchClick here for a free home value reportWhat is going on with our local real estate market, today? Well, right now in Salem, Oregon, we’re currently experiencing a very strong seller’s market. This means sellers are frequently getting top dollar, often above asking price, in cases where they are pricing and positioning their home correctly on the market. Something I get asked a lot about is inventory. We are, in fact, seeing lower inventory than we were at this time last year. So, with buyers outweighing the number of available listings, prices have been affected. Because of our current low inventory, prices have gone up. In other words, buyers who haven’t hired the right agent are struggling. Interest rates, however, are still at a historic low. So if you are a buyer, now is a good time to buy. choosing the right agent is incredibly important in this competitive market.The market right now can be taken advantage of by buyers and sellers alike. But, in order to get the most out of any real estate transaction, you will need a great agent to help you succeed.Whether it’s my team or another, choosing the right agent is incredibly important in this competitive market. If you have any other questions or want more information, feel free to text, call, or send me an email. I look forward to hearing from you, soon. 

How to Succeed in Our Competitive Market

Competing against multiple offers in today’s hot market can be tough. Thankfully, there are a few key ways you can make your offer stand out from the rest. Click here for a full home searchClick here for a free home value reportWhen the market is intense and properties are receiving many different offers, how can buyers hope to compete against all the others who are out there looking? What happens when you find your dream home, but a load of other buyers have also found, and are interested in, that same home? First of all, you want to put your best foot forward. When making an offer against multiple other competing offers, this is going to make a big difference. If you stand out from the very beginning, your chances are going to be much higher than some of your competitors. There are many ways to make your offer stand out. One of the first steps is to make sure you’ve been pre-approved for a loan. Also, make sure you understand the down payment requirements. This way, you’ll not only have the best offer possible, but you will also have a strong grasp of what you’re getting yourself into. Another thing you can do is to write a letter to the seller. Including a picture of your family and writing down some of the reasons you love the home can add a personal touch and will make your offer more memorable. It never hurts to let them know who will be taking their place once they move out.      The best offer isn’t always the highest price.A strong amount of earnest money will also strengthen your offer. Include as much as reasonably makes sense. The minimum amount tends to be 1% of the offer price, but adding even more can help even more. There are actually a lot of small items that can make a big difference in helping your offer win out against the competition. For one thing, make sure things like the closing date and other terms of the offer are matched up with what the seller is looking for. Ultimately, having a strong agent by your side is going to help you immensely. Your agent will be able to determine all of the terms that are needed in the offer and will guide you through the process for optimal results. The best offer isn’t always the highest price. There are many fine points to an offer that go beyond just the financial side of things.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 soon. 

So You've Found Your Dream Home. How Can You Compete for It?

If you are thinking of buying and selling at the same time, consider the following routes before moving forward. Click here for a full home searchClick here for a free home value reportThe process of simultaneously listing one home while also looking for another is something I see many of my clients go through. However, transactions like these can raise some concerns. Many clients I’ve heard from are afraid that if they sell their current home, they may not find a new one quickly enough and will end up temporarily homeless. But, when my team and I work together with our clients, we are in control. The first option is to immediately put one of our buyer’s agents to work after you list. The responsibility of finding your next home then falls on their shoulders. This is an option we are frequently successful with. Very often, in fact, it ends in a simultaneous closing—meaning the sale of your own home closes concurrently with the purchase of your next one. Another option we have is one more focused on preparation. Getting your home ready to sell while you start looking to buy can be a safe way to approach this kind of situation. During this preparatory period, we’ll help you get your listing agreement signed, bring out a stager, and make sure the home is clean and ready.   My team specializes in helping people buy and sell at the same time. This way you can find a home you’re interested in buying first. Once you do, we’ll put your home on the market the very next day. The third and final option works but is the weakest choice in my opinion. For this option, we would find you a home and then put your current property on the market the following week. But the market is strong today. Making an offer on a home contingent on your property’s sale is rarely effective unless your home already has an offer or is going on the market much sooner than the following week. If you still aren’t sure where to get started, we would love to help. This is exactly the sort of thing my team specializes in. We want to help you come up with a strategy for success.If you have any other questions or would like more information, feel free to send me an email or give me a call. I look forward to hearing from you soon.

Buying and Selling at the Same Time: What Are Your Options?

 How do you select the right offer when you receive a lot of competition on your listing? One of the biggest factors is working with the right agent, who will be able to help you decide. Click here for a full home searchClick here for a free home value reportWhen you’re selling your home, how can you handle multiple offer situations? There are a lot of components that go into an offer. This can make it difficult to know what you should look for in offers, especially when you’re receiving several on your listing. The most important thing is to consider what you need most as a seller. Good agents will help you discern this and will ultimately guide you to creating a win-win situation. One thing to consider in an offer is the amount of earnest money a buyer is willing to put down. This amount can show you how serious they are. Also, think about the type of financing the buyer is trying to acquire. Sometimes, your agent will actually call the buyer’s agent to discuss the finer points of the offer. This makes sure that everyone is on the same page.      The right agent will be able to make sure that you can navigate any situation smoothly and quickly.Additionally, it’s important for you to realize that a cash offer is not always better than a mortgaged offer. A qualified Realtor will be able to help you choose the right offer.A few things you might consider about an offer have more to do with your own circumstances. For example, if you are buying another home following the sale of your current one and need to make this contingent, you might consider the flexibility of a given offer.I could go on all day about the scenarios you might run into. The right agent will be able to make sure that you can navigate all of these situations smoothly and quickly. They will also help you get top dollar for your listing.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 soon. 

How to Handle Multiple Offer Situations as a Seller

If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from Josh Heneveld - your professional PremiumNW Real Estate Agents.

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Josh Heneveld with Premium NW Real Estate Team Podcast

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